Rani Therapeutics (RANI) 10-Q 10 Aug 22 2022 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2022	Aug. 08, 2022
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Registrant Name	RANI THERAPEUTICS HOLDINGS, INC.
Entity Central Index Key	0001856725
Entity File Number	001-40672
Entity Tax Identification Number	86-3114789
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	2051 Ringwood Avenue
Entity Address, City or Town	San Jose
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95131
City Area Code	408
Local Phone Number	457-3700
Title of 12(b) Security	Class A common stock, par value $0.0001 per share
Trading Symbol	RANI
Security Exchange Name	NASDAQ
Document Quarterly Report	true
Document Transition Report	false
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		24,492,016
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		24,663,752
Common Class C [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		0

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 97,181	$ 117,453
Prepaid expenses	812	2,142
Total current assets	97,993	119,595
Property and equipment, net	5,352	4,612
Operating lease right-of-use assets	999	0
Total assets	104,344	124,207
Current liabilities:
Accounts payable	1,440	1,080
Related party payable	30	126
Accrued expenses	3,221	1,434
Operating lease liability, current portion	658
Total current liabilities	5,349	2,640
Operating lease liability, net current portion	341	0
Total liabilities	5,690	2,640
Commitments and contingencies (Note 10)
Stockholders' equity / members' deficit:
Preferred stock, $0.0001 par value - 20,000 shares authorized; none issued and outstanding as of June 30, 2022 and December 31, 2021	0	0
Additional Paid in Capital	69,986	55,737
Accumulated deficit	(22,178)	(8,331)
Total stockholders' equity attributable to Rani Therapeutics Holdings, Inc.	47,813	47,411
Non-controlling interest	50,841	74,156
Total stockholders' equity	98,654	121,567
Total liabilities and stockholders' equity	104,344	124,207
Common Class A [Member]
Stockholders' equity / members' deficit:
Common stock, value	2	2
Common Class B [Member]
Stockholders' equity / members' deficit:
Common stock, value	3	3
Common Class C [Member]
Stockholders' equity / members' deficit:
Common stock, value	$ 0	$ 0

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Thousands	Jun. 30, 2022	Dec. 31, 2021
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock authorized	20,000	20,000
Preferred stock issued	0	0
Preferred stock outstanding	0	0
Common Class A [Member]
Common stock par value	$ 0.0001	$ 0.0001
Common stock shares authorized	800,000	800,000
Common stock shares issued	24,494	19,712
Common stock shares outstanding	24,494	19,712
Common Class B [Member]
Common stock par value	$ 0.0001	$ 0.0001
Common stock shares authorized	40,000	40,000
Common stock shares issued	24,663	29,290
Common stock shares outstanding	24,663	29,290
Common Class C [Member]
Common stock par value	$ 0.0001	$ 0.0001
Common stock shares authorized	20,000	20,000
Common stock shares issued	0	0
Common stock shares outstanding	0	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Contract revenue	$ 0	$ 1,961	$ 0	$ 2,717
Operating expenses
Research and development	9,528	3,759	17,118	7,106
General and administrative	6,319	3,460	12,509	6,067
Total operating expenses	15,847	7,219	29,627	13,173
Loss from operations	(15,847)	(5,258)	(29,627)	(10,456)
Other income (expense), net
Interest income and other, net	35	13	50	60
Interest expense and other, net		(169)		(357)
Change in estimated fair value of preferred unit warrant	0	(70)	0	(286)
Loss before income taxes	(15,812)	(5,484)	(29,577)	(11,039)
Income tax expense	(154)	(1)	(217)	(44)
Net loss and comprehensive loss	(15,966)	(5,485)	(29,794)	(11,083)
Net loss attributable to non-controlling interest	(8,342)	(5,485)	(15,947)	(11,083)
Net loss attributable to Rani Therapeutics Holdings, Inc.	$ (7,624)		$ (13,847)
Net loss per Class A common share attributable to Rani Therapeutics Holding, Inc., basic	$ (0.31)		$ (0.60)
Net loss per Class A common share attributable to Rani Therapeutics Holding, Inc., diluted	$ (0.31)		$ (0.60)
Common Class A [Member]
Other income (expense), net
Net loss attributable to Rani Therapeutics Holdings, Inc.	$ (7,624)		$ (13,847)
Net loss per Class A common share attributable to Rani Therapeutics Holding, Inc., basic	$ (0.31)		$ (0.60)
Net loss per Class A common share attributable to Rani Therapeutics Holding, Inc., diluted	$ (0.31)		$ (0.60)
Weighted-average share outstanding basic	24,371		22,930
Weighted-average share outstanding diluted	24,371		22,930

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Stockholders' Equity/Convertible Preferred Units and Member's Deficit (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Common Class A [Member]	Common Class B [Member]	Convertible Preferred [Member]	Common [Member]	Common [Member] Common Class A [Member]	Common [Member] Common Class B [Member]	Additional Paid in Capital [Member]	Noncontrolling Interest [Member]	Accumulated Deficit [Member]
Temporary Equity, Beginning Balance at Dec. 31, 2020				$ 184,714
Temporary Equity, Beginning Balance (in units) at Dec. 31, 2020				26,746
Beginning Balance at Dec. 31, 2020	$ (113,339)				$ 664					$ (114,003)
Beginning Balance (in units) at Dec. 31, 2020					46,890
Issuance of Series E preferred units				$ 6,320
Issuance of Series E Preferred units, Shares				884
Exercise of warrant for common units	13				$ 13
Exercise of warrant for common units, Shares					6
Equity-based compensation	453				$ 453
Net loss	(5,598)									(5,598)
Temporary Equity, Ending Balance at Mar. 31, 2021				$ 191,034
Temporary Equity, Ending Balance (in units) at Mar. 31, 2021				27,630
Ending Balance at Mar. 31, 2021	(118,471)				$ 1,130					(119,601)
Ending Balance (in units) at Mar. 31, 2021					46,896
Temporary Equity, Beginning Balance at Dec. 31, 2020				$ 184,714
Temporary Equity, Beginning Balance (in units) at Dec. 31, 2020				26,746
Beginning Balance at Dec. 31, 2020	(113,339)				$ 664					(114,003)
Beginning Balance (in units) at Dec. 31, 2020					46,890
Net loss	(11,083)
Temporary Equity, Ending Balance at Jun. 30, 2021				$ 191,034
Temporary Equity, Ending Balance (in units) at Jun. 30, 2021				27,630
Ending Balance at Jun. 30, 2021	(123,674)				$ 1,412					(125,086)
Ending Balance (in units) at Jun. 30, 2021					46,896
Temporary Equity, Beginning Balance at Mar. 31, 2021				$ 191,034
Temporary Equity, Beginning Balance (in units) at Mar. 31, 2021				27,630
Beginning Balance at Mar. 31, 2021	(118,471)				$ 1,130					(119,601)
Beginning Balance (in units) at Mar. 31, 2021					46,896
Equity-based compensation	282				$ 282
Net loss	(5,485)									(5,485)
Temporary Equity, Ending Balance at Jun. 30, 2021				$ 191,034
Temporary Equity, Ending Balance (in units) at Jun. 30, 2021				27,630
Ending Balance at Jun. 30, 2021	(123,674)				$ 1,412					(125,086)
Ending Balance (in units) at Jun. 30, 2021					46,896
Beginning Balance at Dec. 31, 2021	121,567					$ 2	$ 3	$ 55,737	$ 74,156	(8,331)
Beginning Balance (shares) at Dec. 31, 2021		19,712	29,290			19,712	29,290
Effect of exchanges of Paired Interests and non-corresponding Class A Units of Rani LLC						4,675	4,517
Non-controlling interest adjustment for changes in proportionate ownership in Rani LLC								10,928	(10,928)
Equity-based compensation	2,905							1,268	1,637
Net loss	(13,828)								(7,605)	(6,223)
Ending Balance at Mar. 31, 2022	110,644					$ 2	$ 3	67,933	57,260	(14,554)
Ending Balance (shares) at Mar. 31, 2022						24,387	24,773
Beginning Balance at Dec. 31, 2021	121,567					$ 2	$ 3	55,737	74,156	(8,331)
Beginning Balance (shares) at Dec. 31, 2021		19,712	29,290			19,712	29,290
Net loss	(29,794)
Ending Balance at Jun. 30, 2022	98,654					$ 2	$ 3	69,986	50,841	(22,178)
Ending Balance (shares) at Jun. 30, 2022		24,494	24,663			24,494	24,663
Beginning Balance at Mar. 31, 2022	110,644					$ 2	$ 3	67,933	57,260	(14,554)
Beginning Balance (shares) at Mar. 31, 2022						24,387	24,773
Forfeiture of restricted stock awards	6							3	3
Forfeiture of restricted stock awards, shares						3
Effect of exchanges of Paired Interests and non-corresponding Class A Units of Rani LLC						110	(110)
Non-controlling interest adjustment for changes in proportionate ownership in Rani LLC								126	(126)
Equity-based compensation	3,982							1,930	2,052
Net loss	(15,966)								(8,342)	(7,624)
Ending Balance at Jun. 30, 2022	$ 98,654					$ 2	$ 3	$ 69,986	$ 50,841	$ (22,178)
Ending Balance (shares) at Jun. 30, 2022		24,494	24,663			24,494	24,663

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities
Net loss	$ (29,794)	$ (11,083)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	233	264
Equity-based compensation expense	6,881	735
Change in fair value of preferred unit warrant liability	0	286
Non-cash operating lease expense	317	0
Other	0	124
Changes in operating assets and liabilities:
Prepaid expenses and other assets	1,330	2
Accounts payable	209	421
Accrued expenses	1,549	1,554
Operating lease liabilities	(317)	0
Related party payable	(96)	738
Deferred revenue	0	(2,717)
Net cash used in operating activities	(19,688)	(9,676)
Cash flows from investing activities
Purchases of property and equipment	(633)	(235)
Net cash used in investing activities	(633)	(235)
Cash flows from financing activities
Proceeds from issuance of preferred units, net of issuance costs	0	6,320
Proceeds from exercise of warrants for common units	0	13
Proceeds from employee stock purchase plan	49	0
Payment of deferred offering costs	0	(1,886)
Principal and interest repayments from related party for note receivable	0	1,720
Net cash provided by financing activities	49	6,167
Net decrease in cash and cash equivalents	(20,272)	(3,744)
Cash and cash equivalents, beginning of year	117,453	73,058
Cash and cash equivalents, end of year	97,181	69,314
Supplemental disclosures of non-cash investing and financing activities
Property and equipment purchases included in accounts payable and accrued expenses	340	0
Deferred financing costs included in accounts payable and accrued expenses	0	1,527
Common Class A [Member]
Supplemental disclosures of non-cash investing and financing activities
Exchanges of Paired Interests and non-corresponding Class A Units of Rani LLC	$ 74,567	$ 0

Organization and Nature of Busi

Organization and Nature of Business	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Nature of Business	1. Organization and Nature of Business Description of Business Rani Therapeutics Holdings, Inc. (“Rani Holdings”) was formed as a Delaware corporation in April 2021 for the purpose of facilitating an initial public offering (“IPO”) of its Class A common stock, and to facilitate certain organizational transactions and to operate the business of Rani Therapeutics, LLC (“Rani LLC”) and its consolidated subsidiary, Rani Management Services, Inc. (“RMS”). Rani Holdings and its consolidated subsidiaries, Rani LLC and RMS are collectively referred to herein as “Rani” or the “Company.” The Company is a clinical stage biotherapeutics company focusing on advancing technologies to enable the administration of biologics and drugs orally, to provide patients, physicians, and healthcare systems with a convenient alternative to painful injections. The Company is advancing a portfolio of oral therapeutics using its proprietary delivery technology, the RaniPill capsule. The Company is headquartered in San Jose, California and operates in one segment. Initial Public Offering and Organizational Transactions In August 2021, the Company closed its IPO and sold 7,666,667 shares of its Class A common stock, including shares issued pursuant to the exercise in full of the underwriters’ option, for cash consideration of $ 11.00 per share and received approximately $ 73.6 million in net proceeds, after deducting underwriting discounts, offering costs and commissions. The Company used the proceeds from the IPO to purchase 7,666,667 newly issued economic nonvoting Class A units (“Class A Units”) of Rani LLC. In connection with the IPO, the Company was party to the following organizational transactions (the “Organizational Transactions”): • Amended and restated Rani LLC’s operating agreement (the “Rani LLC Agreement”) to appoint the Company as the sole managing member of Rani LLC and effectuated an exchange of all outstanding (i) convertible preferred units, automatic or net exercised warrants to purchase preferred units and common units, and common units of Rani LLC, into Class A Units and an equal number of voting noneconomic Class B units (“Class B Units”) and (ii) all Profits Interests into Class A Units. In connection with the closing of the IPO, each LLC interest was exchanged 1 for 0.5282 as determined and predicated on the initial public offering price of the Company’s Class A common stock; • Amended and restated the Company’s certificate of incorporation in July 2021, to provide for the issuance of (i) Class A common stock, each share of which entitles its holders to one vote per share , (ii) Class B common stock, each share of which entitles its holders to 10 votes per share on all matters presented to the Company's stockholders , (iii) Class C common stock, which has no voting rights, except as otherwise required by law and (iv) preferred stock; • Exchanged 12,047,925 shares of Class A common stock for existing Class A Units of Rani LLC held by certain individuals and entities (the “Former LLC Owners”) on a one-for-one basis; • Issued 29,290,391 shares of Class B common stock to certain individuals and entities that continued to hold Class A Units in Rani LLC after the IPO (the “Continuing LLC Owners”) in return for an equal amount of Rani LLC Class B Units; • Entered into a Registration Rights Agreement with certain of the Continuing LLC Owners. The Continuing LLC Owners are entitled to exchange, subject to the terms of the Rani LLC Agreement, the Class A Units they hold in Rani LLC, together with the shares they hold of the Company Class B common stock (together referred to as a "Paired Interest"), in return for shares of the Company’s Class A common stock on a one-for-one basis provided that, at the Company’s election, the Company has the ability to effect a direct exchange of such Class A common stock or make a cash payment equal to a volume weighted average market price of one share of Class A common stock for each Paired Interest redeemed. Any shares of Class B common stock will be cancelled on a one-for-one basis if, at the election of the Continuing LLC Owners, the Company redeems or exchanges such Paired Interest pursuant to the terms of the Rani LLC Agreement. As of June 30, 2022, certain individuals who continue to own interests in Rani LLC but do not hold shares of the Company’s Class B common stock (“non-corresponding Class A Units”) have the ability to exchange their non-corresponding Class A Units of Rani LLC for 1,387,471 shares of the Company’s Class A common stock. Liquidity The Company has incurred recurring losses since its inception, including net losses of $ 29.8 million for the six months ended June 30, 2022. As of June 30, 2022 , the Company had an accumulated deficit of $ 22.2 million and for the six months ended June 30, 2022 had negative cash flows from operations of $ 19.7 million. The Company expects to continue to generate operating losses and negative operating cash flows for the foreseeable future as it continues to develop the RaniPill capsule. The Company expects that its cash and cash equivalents of $ 97.2 million as of June 30, 2022 will be sufficient to fund its operations through at least twelve months from the date the condensed consolidated financial statements are issued. The Company expects to finance its future operations with its existing cash and through strategic financing opportunities that could include, but are not limited to, future offerings of its equity, collaboration or licensing agreements, or the incurrence of debt. However, there is no guarantee that any of these strategic or financing opportunities will be executed or realized on favorable terms, if at all, and some could be dilutive to existing stockholders and holders of interests in the Company. The Company will not generate any revenue from product sales unless, and until, it successfully completes clinical development and obtains regulatory approval for the RaniPill capsule. If the Company obtains regulatory approval for the RaniPill capsule, it expects to incur significant expenses related to developing its internal commercialization capability to support manufacturing, product sales, marketing, and distribution. The Company’s ability to raise additional capital through either the issuance of equity or debt, is dependent on a number of factors including, but not limited to, the market interest of the Company, which itself is subject to a number of development and business risks and uncertainties, as well as the uncertainty that the Company would be able to raise such additional capital at a price or on terms that are favorable to the Company. Market volatility resulting from the novel coronavirus disease (“COVID-19”) pandemic or other factors could also adversely impact the Company’s ability to access capital when and as needed.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation These condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The Company operates and controls all of the business and affairs of Rani LLC, and through Rani LLC and its subsidiary, conducts its business. Because the Company manages and operates the business and controls the strategic decisions and day-to-day operations of Rani LLC and also has a substantial financial interest in Rani LLC, the Company consolidates the financial results of Rani LLC, and a portion of its net loss is allocated to the non-controlling interests in Rani LLC held by the Continuing LLC Owners. All intercompany accounts and transactions have been eliminated in consolidation. The Organizational Transactions were considered transactions between entities under common control. As a result, the condensed consolidated financial statements for periods prior to the IPO and the Organizational Transactions have been adjusted to combine the previously separate entities for presentation purposes. Unaudited Interim Condensed Consolidated Financial Statements The accompanying condensed consolidated financial statements have been prepared in accordance with U.S. GAAP for interim financial information and pursuant to Form 10-Q of Regulation S-X of the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. These unaudited condensed consolidated financial statements include all adjustments necessary to fairly state the financial position and the results of the Company's operations and cash flows for interim periods in accordance with U.S. GAAP. All such adjustments are of a normal, recurring nature except for the adoption of the new lease accounting standard. Operating results for the three and six months ended June 30, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022 or for any future period. The consolidated balance sheet as of December 31, 2021 included herein was derived from the audited consolidated financial statements as of that date. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. Therefore, these interim condensed consolidated financial statements should be read in conjunction with the 2021 consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K filed with the SEC on March 31, 2022. Use of Estimates The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses and the disclosure of contingent assets and liabilities in the Company’s condensed consolidated financial statements and accompanying notes. These estimates and assumptions are based on current facts, historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of expenses that are not readily apparent from other sources. Estimates include, but are not limited to equity-based compensation expense, accrued research and development costs and, until the occurrence of the Company's IPO, the fair value of Profits Interests and preferred unit warrants. Actual results may differ materially and adversely from these estimates. Significant Accounting Policies A description of the Company’s significant accounting policies is included in the audited consolidated financial statements within its Annual Report on Form 10-K for the year ended December 31, 2021. Except as noted below, there have been no material changes in the Company’s significant accounting policies during the six months ended June 30, 2022 . Concentrations of Credit Risk and Other Risks and Uncertainties Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents. The Company maintains accounts in federally insured financial institutions in excess of federally insured limits. The Company also holds money market funds that are not federally insured. However, management believes the Company is not exposed to significant credit risk due to the financial strength of the depository institutions in which these deposits are held and of the money market funds and other entities in which these investments are made. In March 2020, the World Health Organization declared the COVID-19 outbreak a pandemic. The extent to which the COVID-19 pandemic will further directly or indirectly impact the Company's results of operation and financial condition has been and will continue to be driven by many factors, most of which are beyond the Company's control and ability to forecast. Because of these uncertainties, the Company cannot estimate how long or to what extent COVID-19 will impact the Company's operations. Fair Value of Financial Instruments Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. Financial assets and liabilities carried at fair value are to be classified and disclosed in one of the following three levels of the fair value hierarchy, of which the first two are considered observable and the last is considered unobservable: Level 1—Quoted prices in active markets for identical assets or liabilities. Level 2—Observable inputs (other than Level 1 quoted prices), such as quoted prices in active markets for similar assets or liabilities, quoted prices in markets that are not active for identical or similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data. Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to determining the fair value of the assets or liabilities, including pricing models, discounted cash flow methodologies and similar techniques. The carrying values of the Company’s cash equivalents, prepaid expenses, accounts payable, and accruals approximate their fair value due to their short-term nature. Leases Prior to January 1, 2022, the Company had one cancelable operating lease agreement for its corporate headquarters and recognized related rent expense on a straight-line basis over the term of the lease. The Company’s lease agreement contained termination and renewal options. The Company did not assume termination nor renewals options in its determination of the lease term unless they were deemed to be reasonably certain at the renewal of the lease. The Company began recognizing rent expense on the date that it obtained the legal right to use and control the leased space. Subsequent to the adoption of the new leasing standard on January 1, 2022, the Company determines whether the arrangement is or contains a lease based on the unique facts and circumstances present at the inception of the arrangement and if such a lease is classified as a financing lease or operating lease. The Company has elected not to recognize on the balance sheet leases with terms of one year or less. For any arrangement that is considered to be a lease with a term greater than one year, the Company recognizes a lease asset for its right to use the underlying asset and a lease liability for the corresponding lease obligation. Operating leases are included in operating lease right-of-use ("ROU") assets and operating lease liabilities in the Company’s condensed consolidated balance sheet as of June 30, 2022. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease contract. Operating lease ROU assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the expected lease term. In determining the net present value of lease payments, the interest rate implicit in lease contracts is typically not readily determinable. As such, the Company utilizes the appropriate incremental borrowing rate (“IBR”), which is the rate incurred to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment. Certain adjustments to the ROU asset may be required for items such as initial direct costs paid or incentives received and impairment charges if we determine the ROU asset is impaired. The Company considers a lease term to be the noncancelable period during which it has the right to use the underlying asset, including any periods where it is reasonably certain the Company will exercise the option to extend the contract. Periods covered by an option to extend are included in the lease term if the lessor controls the exercise of that option. The operating lease ROU assets also include any lease payments made and exclude lease incentives. Lease expense is recognized on a straight-line basis over the expected lease term. The Company has elected to not separate lease and non-lease components for its leased assets and accounts for all lease and non-lease components of its agreements as a single lease component. The lease components resulting in a ROU asset have been recorded on the condensed consolidated balance sheet and amortized as lease expense on a straight-line basis over the lease term. Tax Receivable Agreement In August 2021, in connection with the IPO and Organizational Transactions, the Company entered into a tax receivable agreement ("TRA") with certain of the Continuing LLC Owners. The TRA provides that the Company pay to such Continuing LLC Owners, 85 % of the amount of tax benefits, if any, it is deemed to realize (calculated using certain assumptions) as a result of (i) increases in the tax basis of assets of Rani LLC resulting from (a) any future redemptions or exchanges of Paired Interests or non-corresponding Class A Units of Rani LLC and (b) payments under the TRA and (ii) certain other benefits arising from payments under the TRA (collectively the “Tax Attributes”). A liability for the payable to parties subject to the TRA, and a reduction to stockholders’ equity, is accrued when (i) an exchange of a Paired Interest or non-corresponding Class A Units of Rani LLC has occurred and (ii) when it is deemed probable that the Tax Attributes associated with the exchange will be used to reduce the Company’s taxable income based on the contractual percentage of the benefit of Tax Attributes that the Company expects to receive over a period of time (Note 10). Comprehensive Loss Comprehensive loss is defined as a change in equity of a business enterprise during a period, resulting from transactions and other events and/or circumstances from non-owner sources. The Company did not have any other comprehensive loss for any of the periods presented, and therefore comprehensive loss was the same as the Company’s net loss. Net Loss Per Class A Common Share Attributable to Rani Holdings Basic net loss per Class A common share attributable to Rani Holdings is computed by dividing net loss attributable to the Company by the weighted average number of Class A common shares outstanding during the period, without consideration of potential dilutive securities. Diluted net loss per Class A common share is computed giving effect to all potentially dilutive shares. Diluted net loss per Class A common share for all periods presented is the same as basic loss per share as the inclusion of potentially issuable shares would be antidilutive. Net loss per share is not presented for the three and six months ended June 30, 2021 as the Company did not have any economic interests prior to the date of the IPO and Organizational Transactions through which it was given ownership in Rani LLC. Losses prior to the IPO and Organizational Transactions would have been allocated to the original members of Rani LLC. The basic and diluted net loss per Class A common share attributable to Rani Holdings is applicable only for the periods following the IPO and Organizational Transactions and represents the periods that the Company had Class A common shares outstanding. Non-Controlling Interest Non-controlling interest ("NCI") represents the portion of income or loss, net assets and comprehensive loss of the Company's consolidated subsidiary that is not allocable to Rani Holdings based on the Company's percentage of ownership of Rani LLC. In August 2021, based on the Organizational Transactions, Rani Holdings became the sole managing member of Rani LLC. As of June 30, 2022 , Rani Holdings held approximately 48 % of the Class A Units of Rani LLC, and approximately 52 % of the outstanding Class A Units of Rani LLC are held by the Continuing LLC Owners. Therefore, the Company reports NCI based on the Class A Units of Rani LLC held by the Continuing LLC Owners on its condensed consolidated balance sheet as of June 30, 2022. Income or loss attributed to the NCI in Rani LLC is based on the Class A Units outstanding during the period for which the income or loss is generated and is presented on the condensed consolidated statements of operations and comprehensive income or loss. Future exchanges of Paired Interests and non-corresponding Class A Units of Rani LLC will result in a change in ownership and reduce or increase the amount recorded as NCI and increase or decrease additional paid-in-capital when Rani LLC has positive or negative net assets, respectively. From the date of the Organizational Transactions to June 30, 2022 , there were 4,626,639 exchanges of Paired Interests and 158,051 exchanges of non-corresponding Class A Units of Rani LLC for an equal number of shares of the Company's Class A common stock. Recently Adopted Accounting Pronouncements In February 2016, the Financial Accounting Standards Board (the “FASB”) issued ASU 2016-02, Leases (“Topic 842”), as subsequently amended, to improve financial reporting and disclosures about leasing transactions. The Company adopted this standard on January 1, 2022 using the modified retrospective approach and elected the package of practical expedients permitted under transition guidance, which allowed the Company to carry forward its historical assessments of: 1) whether contracts are or contain leases, 2) lease classification and 3) initial direct costs, where applicable. The Company did not elect the practical expedient allowing the use-of-hindsight which would require the Company to reassess the lease term of its leases based on all facts and circumstances through the effective date and did not elect the practical expedient pertaining to land easements as this is not applicable to the current contract portfolio. The Company elected the post-transition practical expedient to not separate lease components from non-lease components for all existing lease classes. The Company also elected a policy of not recording leases on its condensed balance sheets when the leases have a term of twelve months or less and the Company is not reasonably certain to elect an option to purchase the leased asset. The adoption of this standard resulted in the recognition of a ROU asset and lease liabilities of $ 1.3 million, respectively. The adoption of the standard had no impact on the Company’s condensed consolidated statements of operations and comprehensive loss or to its cash flows from or used in operating, financing, or investing activities on its condensed consolidated statements of cash flows. No cumulative-effect adjustment within accumulated deficit was required to be recorded as a result of adopting this standard. Recently Issued Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (“ASU 2016-13”) to require the measurement of expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions and reasonable forecasts. The main objective of ASU 2016-13 is to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. As a result of the Company having elected the extended transition period for complying with new or revised accounting standards pursuant to Section 107(b) of the JOBS Act, and assuming the Company continues to be considered an emerging growth company, ASU 2016-13 will be effective for the Company on January 1, 2023. The Company has not yet determined the potential effects of ASU 2016-13 on its condensed consolidated financial statements and disclosures.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	3. Fair Value Measurements The following table presents information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicates the level of inputs used in such measurements (in thousands): As of June 30, 2022 Level 1 Level 2 Level 3 Total Assets: Money market funds $ 94,679 $ — $ — $ 94,679 Total assets $ 94,679 $ — $ — $ 94,679 As of December 31, 2021 Level 1 Level 2 Level 3 Total Assets: Money market funds $ 115,595 $ — $ — $ 115,595 Total assets $ 115,595 $ — $ — $ 115,595 Money market funds are highly liquid and actively traded marketable securities that generally transact at a stable $ 1.00 net asset value representing its estimated fair value. There were no transfers between Level 1, Level 2 and Level 3 of the fair value hierarchy for any of the periods presented. The Company held a Level 3 liability associated with preferred unit warrants that were issued in conjunction with a loan and security Agreement. These preferred unit warrants were settled with Class A common stock as part of the IPO and Organizational Transactions. The following tables set forth a summary of the changes in the fair value of the Company’s liability measured using Level 3 inputs (in thousands): Three Months Ended Six Months Ended 2022 2021 2022 2021 Balance at beginning of period $ — $ 536 $ — $ 320 Change in estimated fair value of Series E warrants — 70 — 286 Balance at end of period $ — $ 606 $ — $ 606

Evaluation Agreements

Evaluation Agreements	6 Months Ended
	Jun. 30, 2022
Evaluation Agreements [Abstract]
Evaluation Agreements	5. Evaluation Agreement Takeda Takeda Pharmaceutical Company, Limited ("Takeda") was collaborating with the Company to conduct research on the use of the RaniPill capsule for the oral delivery of factor VIII (“FVIII”) therapy for patients with hemophilia A. The agreement granted Takeda a right of first negotiation to a worldwide, exclusive license under the Company’s intellectual property related to a FVIII-RaniPill therapeutic. Takeda paid the Company up-front payments of $ 5.9 million upon execution of and subsequent modifications to the agreement. Upon the initial evaluation services being completed, Takeda had an option to pay the Company $ 3.0 million to perform later stage evaluation services. Takeda also had the ability to terminate the agreement at any time by providing 30 days written notice after the effective date of the agreement. Unless terminated early, the agreement term ended upon the expiration of the right of first negotiation period which is 120 days after the completion of the evaluation services. The Takeda agreement could be terminated for cause by either party based on uncured material breach by the other party or bankruptcy of the other party. Upon early termination, all ongoing activities under the agreement and all mutual collaboration, development and commercialization licenses and sublicenses would terminate. The Company identified one material promise under the Takeda agreement, the obligation to perform services to evaluate if Takeda’s FVIII therapy can be orally delivered using the RaniPill capsule (“Research and Development Services”), which was concluded to be a single performance obligation. In May 2021, the Company received written notice from Takeda as to their intent to terminate the contract for convenience. Due to the delivery of the termination notice, the Company determined that there were no further enforceable rights and obligations under the agreement beyond May 2021 and the remaining $ 2.0 million of deferred revenue was recognized in 2021 . For the six months ended June 30, 2022 , no contract revenue related to the Takeda agreement was recognized. For the six months ended June 30, 2021 , the Company recognized contract revenue related to the Takeda agreement of $ 2.7 million. There was no deferred revenue as of June 30, 2022 nor December 31, 2021 .

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
Related Party Transactions	6. Related Party Transactions InCube Labs, LLC (“ICL”) is wholly-owned by the Company’s founder and Chairman and his family. The founder and Chairman is the father of the Company’s Chief Executive Officer. The Company’s Chief Scientific Officer is also the brother of the founder and Chairman and thus uncle of the Company’s Chief Executive Officer. Services agreements In June 2021, Rani LLC entered into a service agreement with ICL effective retrospectively to January 1, 2021, and subsequently amended such agreement in March 2022 (as amended, the "Rani LLC-ICL Service Agreement"), pursuant to which Rani LLC and ICL agreed to provide personnel services to the other upon requests. Under the amendment in March 2022, Rani LLC has a right to occupy certain facilities leased by ICL in Milpitas, California and San Antonio, Texas (“Occupancy Services”) for general office, research and development, and light manufacturing. The Rani LLC-ICL Service Agreement has a twelve-month term and will automatically renew for a successive twelve-month periods unless terminated; except that the Occupancy Services in Milpitas, California have a term until February 2023, with the potential for two annual renewals, subject to approval by the landlord upon a nine months’ notice of renewal prior to the end of the lease term, and the Occupancy Services in San Antonio, Texas continue until either party gives six months’ notice of termination. Except for the Occupancy Services, Rani LLC or ICL may terminate services under the Rani LLC-ICL Service Agreement upon 60 days' notice to the other party. The Rani LLC-ICL Service Agreement specifies the scope of services to be provided as well as the methods for determining the costs of services. Costs are billed or charged on a monthly basis by ICL or Rani LLC, respectively. In June 2021, RMS entered into a service agreement with ICL (the “RMS-ICL Service Agreement”) effective retrospectively to January 1, 2021, pursuant to which ICL agreed to rent a specified portion of its facility in San Jose, California to RMS. Additionally, RMS and ICL agreed to provide personnel services to the other upon requests based on rates specified in the RMS-ICL Service Agreement. In April 2022, RMS assigned the RMS-ICL Service Agreement to Rani LLC. The RMS-ICL Service Agreement has a twelve-month term and will automatically renew for successive twelve-month periods unless terminated. Rani LLC or ICL may terminate services under the RMS-ICL Service Agreement upon 60 days' notice to the other party, except for occupancy which requires six months’ notice. The RMS-ICL Service Agreement specifies the scope of services to be provided as well as the methods for determining the costs of services. Costs are billed or charged on a monthly basis by ICL or Rani LLC, respectively, as well as allocations of expenses based upon Rani LLC’s utilization of ICL’s facilities and equipment. The table below details the amounts charged by ICL for services and rent, net of the amount that the Company charged ICL, which is included in the condensed consolidated statements of operations and comprehensive loss (in thousa nds): Three Months Ended Six Months Ended 2022 2021 2022 2021 Research and development $ 286 $ 123 $ 526 $ 156 General and administrative 53 184 116 366 Total $ 339 $ 307 $ 642 $ 522 Prior to April 2022, the Company’s eligible employees were permitted to participate in ICL’s 401(k) Plan (“401(k) Plan”). Participation in the 401(k) Plan was offered for the benefit of the employees, including the Company’s named executive officers, who satisfied certain eligibility requirements. In April 2022, the Company established its own 401(k) Plan, with participation offered for the benefit of the employees, including the Company’s named executive officers, who satisfy certain eligibility requirements. As of June 30, 2022, all of the Company's facilities are owned or leased by an entity affiliated with the Company’s Chairman (Note 7). The Company pays for the use of these facilities through its services agreements with ICL. Financing activity From inception to the first half of 2017, the Company advanced funds to ICL, and ICL made payments directly to certain vendors on behalf of Rani, Rani has reimbursed ICL for all such payments at cost on a monthly basis. In March 2021, an outstanding notes receivable balance totaling $ 1.7 million, including all accrued interest, was fully repaid by ICL. During 2020 and 2021, a related party of the Company, and its affiliates, purchased 2,100,800 common units of Rani LLC and 7,880,120 Series E Preferred Units of Rani LLC. As part of the Organizational Transactions the common units and Series E Preferred Units were exchanged for 5,277,729 shares of the Company's Class A common stock. In connection with the IPO and subsequent thereto, the same related party purchased an additional 6,458,904 shares of the Company’s Class A common stock for total gross proceeds of $ 71.1 million. Exclusive License, Intellectual Property and Common Unit Purchase Agreement The Company, through Rani LLC, and ICL entered into an exclusive license and an intellectual property agreement and common unit purchase agreement in 2012. Pursuant to the common unit purchase agreement, the Company issued 46.0 million common units to ICL in return for rights to exclusive commercialization, development, use and sale of certain products and services related to the RaniPill capsule technology. ICL also granted the Company a fully-paid, royalty-free, sublicensable, exclusive license under the intellectual property made by ICL during the course of providing services to the Company related to the RaniPill capsule technology. Such rights were not recorded on the Company’s condensed consolidated balance sheet as the transaction was considered a common control transaction. In June 2021, ICL and the Company, through Rani LLC, entered into an Amended and Restated Exclusive License Agreement which replaced the 2012 Exclusive License Agreement between ICL and Rani LLC, as amended in 2013, and terminated the 2012 Intellectual Property Agreement between ICL and Rani LLC, as amended in June 2013. Under the Amended and Restated Exclusive License Agreement, the Company has a fully paid, exclusive license under certain scheduled patents related to optional features of the device and certain other scheduled patents to exploit products covered by those patents in the field of oral delivery of sensors, small molecule drugs or biologic drugs including, any peptide, antibody, protein, cell therapy, gene therapy or vaccine. The Company covers patent-related expenses and, after a certain period, the Company will have the right to acquire four specified United States patent families from ICL by making a one-time payment of $ 0.3 million to ICL for each United States patent family that the Company desires to acquire, up to $ 1.0 million in the aggregate. This payment will not become an obligation until the fifth anniversary of the Amended and Restated Exclusive License Agreement. The Amended and Restated Exclusive License Agreement will terminate when there are no remaining valid claims of the patents licensed under the Amended and Restated Exclusive License Agreement. Additionally, the Company may terminate the Amended and Restated Exclusive License Agreement in its entirety or as to any particular licensed patent upon notification to ICL of such intent to terminate. Non-Exclusive License Agreement between Rani and ICL (“Non-Exclusive License Agreement”) In June 2021, the Company, through Rani LLC, entered into the Non-Exclusive License Agreement with ICL, a related party, pursuant to which the Company granted ICL a non-exclusive, fully-paid license under specified patents that were assigned from ICL to the Company. Additionally, the Company agreed not to license these patents to a third party in a specific field outside the field of oral delivery of sensors, small molecule drugs or biologic drugs including, any peptide, antibody, protein, cell therapy, gene therapy or vaccine, if ICL can prove that it or its sublicensee has been in active development of a product covered by such patents in that specific field. ICL may grant sublicenses under this license to third parties only with the Company’s prior approval. The Non-Exclusive License Agreement will continue in perpetuity unless earlier terminated. Intellectual Property Agreement with Mir Imran (the “Mir Agreement”) In June 2021, the Company, through Rani LLC, entered into the Mir Agreement, pursuant to which the Company and Mir Imran agreed that the Company would own all intellectual property conceived (a) using any of the Company’s people, equipment, or facilities or (b) that is within the field of oral delivery of sensors, small molecule drugs or biologic drugs including, any peptide, antibody, protein, cell therapy, gene therapy or vaccine. Neither the Company nor Mir Imran may assign the Mir Agreement to any third party without the prior written consent of the other party. The initial term of the Mir Agreement is three years, which can be extended upon mutual consent of the parties. The Mir Agreement may be terminated by either party for any reason within the initial three year term upon providing three months’ notice to the other party. Secondary Sales Transactions In February 2021, one of the Company's named executive officers and then member of the Board of Managers of Rani LLC, and a current member of the Board of Managers of Rani LLC sold a total of 210,000 common units to a third-party investor at $ 7.1471 per unit. The Company determined that the sales price was above fair value of such units and as a result recorded equity-based compensation expense of $ 0.5 million for which $ 0.2 million was recorded as general and administrative expense and $ 0.3 million was recorded as research and development expense. The $ 0.5 million represents the difference between the sales price and fair value of the common units. Tax Receivable Agreement Certain parties to the TRA, entered into in August 2021 pursuant to the IPO and Organizational Transactions are related parties of the Company. The TRA provides that the Company pay to such entities and individuals 85% of the amount of tax benefits, if any, it is deemed to realize from exchanges of Paired Interests (Note 2). During the six months ended June 30, 2022 , these parties to the TRA exchanged 2,309,490 Paired Interests that resulted in tax benefits subject to the TRA (Note 10). Registration Rights Agreement In connection with the IPO, the Company entered into a Registration Rights Agreement. ICL and its affiliates are parties to this agreement. The Registration Rights Agreement provides certain registration rights whereby, at any time following the IPO and the expiration of any related lock-up period, ICL and its affiliates can require the Company to register under the Securities Act of 1933, as amended (the “Securities Act”) shares of Class A common stock issuable to ICL and its affiliates upon, at the Company’s election, redemption or exchange of their Paired Interests. The Registration Rights Agreement also provides for piggyback registration rights. In March 2022, certain holders of our Class A common stock considered to be related parties were made parties to the Registration Rights Agreement. Rani LLC Agreement The Company operates its business through Rani LLC and its subsidiary. In connection with the IPO, the Company and the Continuing LLC Owners, including ICL and its affiliates, entered into the Rani LLC Agreement. The governance of Rani LLC, and the rights and obligations of the holders of LLC Interests, are set forth in the Rani LLC Agreement. As Continuing LLC Owners, ICL and its affiliates are entitled to exchange, subject to the terms of the Rani LLC Agreement, Paired Interests for Class A common stock of the Company; provided that, at the Company’s election, the Company may effect a direct exchange of such Class A common stock or make a cash payment equal to a volume weighted average market price of one share of Class A common stock for each Paired Interest redeemed. During the six months ended June 30, 2022, certain parties to the Rani LLC Agreement exchanged 2,309,490 Paired Interests for an equal number of shares of the Company's Class A common stock.

Leases

Leases	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Leases	7. Leases The Company pays for the use of its office, laboratory and manufacturing facility in San Jose, California as part of the RMS-ICL Service Agreement. In April 2022, RMS assigned the RMS-ICL Service Agreement to Rani LLC. The RMS-ICL Service Agreement has a twelve-month term and will automatically renew for successive twelve-month periods unless Rani LLC or ICL terminate occupancy under the RMS-ICL Service Agreement upon six months’ notice. As of June 30, 2022, the Company determined it to be reasonably certain that it would exercise its renewal option for a successive twelve-month period and this has been considered in the determination of the right-of-use assets and lease liabilities associated with the RMS-ICL Service Agreement. At June 30, 2022 , the RMS-ICL Service Agreement had a remaining term of 1.5 years. Under the Rani LLC-ICL Service Agreement amended in March 2022, Rani LLC has a right to occupy certain facilities leased by ICL in Milpitas, California and San Antonio, Texas for general office, research and development, and light manufacturing. The Rani LLC-ICL Service Agreement has a twelve-month term and will automatically renew for a successive twelve-month periods unless terminated; except that the Occupancy Services in Milpitas, California have a term until February 2023, with the potential for two annual renewals, subject to approval by the landlord upon a nine months’ notice of renewal prior to the end of the lease term, and the Occupancy Services in San Antonio, Texas continue until either party gives six months’ notice of termination. As of June 30, 2022, the renewal option for the facility in Milpitas, California was not deemed reasonably certain to be exercised and the Occupancy Services were considered short term. The Company's leases are accounted for as operating leases and require certain fixed payments of real estate taxes and insurance in addition to future minimum lease payments, and certain variable payments of common area maintenance costs and building utilities. Variable lease payments are expensed in the period in which the obligation for those payments is incurred. These variable lease costs are payments that vary in amount beyond the commencement date, for reasons other than passage of time. Total operating lease expense incurred with ICL was $ 0.7 million and $ 0.4 million for the six months ended June 30, 2022 and 2021, respectively. Short term lease expense are included in the total operating lease expense and not immaterial for the periods presented. Variable lease payments are excluded in the total operating lease expense and immaterial for the periods presented. The Company used its IBR as the discount rate when measuring operating lease liabilities. The discount rate associated with the RMS-ICL Service Agreement is 5.0 %. Supplemental information on the Company’s condensed consolidated balance sheet and statements of cash flow as of June 30, 2022 related to leases was as follows (in thousands): June 30, 2022 Balance sheet Operating lease right-of-use assets $ 999 Operating lease liability, current portion $ 658 Operating lease liability, net current portion 341 Total operating lease liability $ 999 June 30, 2022 Cash flows Cash paid for amounts included in lease liabilities: Operating cash flows used for operating leases $ 345 As of June 30, 2022, minimum annual rental payments under the Company’s operating lease agreement is as follows (in thousands): Year ending December 31, 2022 (remaining six months) $ 345 2023 690 Total undiscounted future minimum lease payments $ 1,035 Less: Imputed interest ( 36 ) Total operating lease liability $ 999 Less: Operating lease liability, current portion 658 Operating lease liability, net current portion $ 341 Operating lease in the table above includes future minimum lease payments for the RMS-ICL Service Agreement. Future minimum lease payments of the Rani LLC-ICL Service Agreement for fiscal years 2022 (remaining six months) and 2023 totaled $ 0.3 million and $ 0.1 million, respectively.

Stockholders' Equity_Members' D

Stockholders' Equity/Members' Deficit	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Stockholders' / Members' deficit	8. Stockholders’ Equity / Members’ Deficit Prior to the Organizational Transactions, Rani LLC was authorized to issue 101,000,000 common units, of which 10,850,000 had been reserved for issuance as Profits Interests and 32,620,000 were reserved for six separate classes, the Series A convertible preferred units (the “Series A units”), the Series B convertible preferred units (the “Series B units”), the Series C convertible preferred units (the “Series C units”), the Series C-1 convertible preferred units (the “Series C-1 units”), the Series D convertible preferred units (the “Series D units”), and the Series E convertible preferred units (the “Series E units”), collectively the “Preferred Units”. The members of the Rani LLC who held these common and Preferred Units were not liable, solely by reason of being a member, for the debts, obligations, or liabilities of the Company whether arising in contract or tort; under a judgment, decree, or order of a court; or otherwise. The members were also not obligated to make capital contributions to Rani LLC and Rani LLC would have dissolved only upon a written consent of a majority of the members. The Company’s Profits Interests were subject to either a combination of service, market, or performance vesting conditions. Vested Profits Interests were treated as common units for purposes of distributions. For the six months ended June 30, 2022, certain of the Continuing LLC Owners executed an exchange of 4,626,639 Paired Interests and 158,051 non-corresponding Class A Units of Rani LLC in return for an equal number of shares of the Company’s Class A common stock. The corresponding shares of the Company’s Class B common stock included in the exchange of Paired Interests were subsequently cancelled and retired pursuant to the terms of the Rani LLC Agreement.

Equity Based Compensation

Equity Based Compensation	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Equity-Based Compensation	9. Equity-Based Compensation Stock Options A summary of stock option activity during the periods indicated is as follows: Number of Stock Option Awards Weighted Average Exercise Price Weighted Aggregate Intrinsic Value (in thousands) Balance at December 31, 2021 2,300,819 $ 14.12 9.55 $ 976 Granted 1,427,285 $ 12.80 9.75 $ — Forfeited ( 40,290 ) $ 17.08 Balance at June 30, 2022 3,687,814 $ 13.57 9.33 $ 1,079 Exercisable at June 30, 2022 596,276 $ 12.93 9.09 $ 315 Nonvested at June 30, 2022 3,091,538 $ 13.70 9.37 $ 764 As of June 30, 2022 , there was $ 27.7 million of unrecognized equity-based compensation expense related to stock options which is expected to be recognized over a weighted-average period of approximately 2.9 years. Restricted Stock Units A summary of RSU activity during the periods indicated is as follows: Number of Restricted Stock Units Weighted Average Grant-Date Fair Value per Share Balance at December 31, 2021 596,500 $ 19.56 Granted 443,400 $ 13.21 Forfeited ( 69,800 ) $ 18.20 Balance at June 30, 2022 970,100 $ 16.76 As of June 30, 2022 , there was $ 11.6 million of unrecognized equity-based compensation expense related to RSUs which is expected to be recognized over a weighted-average period of approximately 2.3 years. Restricted Stock Awards A summary of RSA activity during the periods indicated is as follows: Number of Restricted Stock Awards Weighted Average Grant-Date Fair Value per Share Balance at December 31, 2021 113,173 $ 6.15 Vested ( 25,170 ) $ 6.16 Forfeited ( 2,374 ) $ 6.36 Balance at June 30, 2022 85,629 $ 6.14 As of June 30, 2022 , there was $ 0.2 million of unrecognized equity-based compensation expense related to RSAs which is expected to be recognized over a weighted-average period of approximately 1.3 years. The total fair value of the RSAs that vested in 2022 was approximately $ 0.4 million. 2021 Employee Stock Purchase Plan The Company recognized stock-based compensation expense related to the 2021 Employee Stock Purchase Plan (the “ESPP”) that was not significant during the three and six months ended June 30, 2022 . There was no stock-based compensation expense related to the ESPP recognized during the three and six months ended June 30, 2021. As of June 30, 2022, contributions withheld from employees were not significant and recorded as a component of accrued expenses in the condensed consolidated balance sheet. As of June 30, 2022 , total unrecognized compensation costs related to the ESPP was $ 0.1 million, which will be amortized over a weighted average vesting term of 0.4 years. Equity-Based Compensation Expense The following table summarizes the components of equity-based compensation expense resulting from the grant of stock options, RSUs, RSAs, the ESPP, and a secondary sales transaction entered into in February 2021, recorded in the Company’s condensed consolidated statement of operations and comprehensive loss (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Research and development $ 1,638 61 $ 2,886 $ 287 General and administrative 2,338 221 3,995 448 Total equity-based compensation $ 3,976 282 $ 6,881 $ 735

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	10. Commitments and Contingencies Legal Proceedings In the ordinary course of business, the Company may be subject to legal proceedings, claims and litigation as the Company operates in an industry susceptible to patent legal claims. The Company accounts for estimated losses with respect to legal proceedings and claims when such losses are probable and estimable. Legal costs associated with these matters are expensed when incurred. The Company is currently involved in several opposition proceedings at the European Patent Office, all of which were asserted against it by Novo Nordisk AS. The ultimate outcome of this matter as a loss is not probable nor is there any amount that is reasonably estimable. However, the outcome of the opposition proceedings could impact the Company’s ability to commercialize its products in Europe. Tax Receivable Agreement The Company is party to a TRA with certain of the Continuing LLC Owners (Note 2). As of June 30, 2022, the Company has not recorded a liability under the TRA related to the income tax benefits originating from the exchanges of Paired Interest or non-corresponding Class A Units of Rani LLC as it is not probable that the Company will realize such tax benefits. To the extent the Company is able to realize the income tax benefits associated with the exchanges of Paired Interest or non-corresponding Class A Units of Rani LLC subject to the TRA , the TRA payable would range from zero to $ 20.4 million at June 30, 2022. The amounts payable under the TRA will vary depending upon a number of factors, including the amount, character, and timing of the taxable income of the Company in the future. Should the Company determine that the payment of the TRA liability becomes probable at a future date based on new information, any changes will be recorded on the Company's condensed consolidated statement of operations and comprehensive loss at that time.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	11. Income Taxes The Company is the managing member of Rani LLC and, as a result, consolidates the financial results of Rani LLC and its taxable subsidiary RMS in the condensed consolidated financial statements. Rani LLC is a pass-through entity for United States federal and most applicable state and local income tax purposes following the IPO and Organizational Transactions. As an entity classified as a partnership for tax purposes, Rani LLC is not subject to United States federal and certain state and local income taxes. Any taxable income or loss generated by Rani LLC is passed through to, and included in the taxable income or loss of, its members, including the Company. The Company is taxed as a corporation and pays corporate federal, state and local taxes with respect to income allocated to it, based on its economic interest in Rani LLC. The Company's tax provision also includes the activity of RMS, which is taxed as a corporation for United States federal and state income tax purposes. The Company’s effective income tax rate was ( 0.51 )% and ( 0.21 )% for the six months ended June 30, 2022 and 2021, respectively. As a result of the exchanges for the six months ended June 30, 2022 (Note 8), the Company recorded a $ 18.3 million deferred tax asset related to income tax benefit associated with the basis of the net assets of Rani LLC. Because of the Company’s history of operating losses, the Company believes that recognition of the deferred tax assets arising from such future income tax benefits is currently not likely to be realized and, accordingly, has recognized a full valuation allowance on its deferred tax assets. There were no material changes to uncertain tax positions for the six months ended June 30, 2022 and 2021, and the Company does not anticipate material changes within the next 12 months.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	13. Subsequent Events Lease In July 2022, the first annual extension period under the RMS-ICL Service Agreement was approved by the landlord for Occupancy Services in Milpitas, California, for an additional twelve month lease term. The future aggregate minimum lease payments associated with the additional Occupancy Services total $ 0.4 million. Loan Agreement In August 2022, the Company entered into a loan and security agreement and related supplement (the “Loan Agreement”) with Avenue Venture Opportunities Fund, L.P (the “Lender”). The Loan Agreement provides for term loans (the “Loans”) in an aggregate principal amount up to $ 45.0 million. A Loan of $ 30.0 million is committed at closing, with $ 15.0 million funded immediately and $ 15.0 million available to be drawn between October 1, 2022 and December 31, 2022. The remaining $ 15.0 million of Loans (“Tranche 2”) is uncommitted and is subject to certain conditions and approval by the Lender. The purpose of the Loans is for general corporate purposes. Pursuant to the Loan Agreement, the maturity date for the Loans is August 1, 2026 (the “Maturity Date”). The Loan principal is repayable in equal monthly installments beginning September 2024 (extendable to March 2025 under certain conditions. The Loans bear interest at a variable rate per annum equal to the greater of (A) the prime rate, as published by the Wall Street Journal from time to time plus 5.60 % or (B) 10.35 %. Pursuant to the Loan Agreement, beginning on the first anniversary of the closing, the Company is subject to a financial covenant that requires the Company to have at least two drug products utilizing its oral delivery technology in clinical development at all times. The financial covenant does not apply if the Company has a market capitalization above $ 650.0 million. The Loan Agreement also contains various covenants and restrictive provisions that, among other things, limit the Company’s ability to (i) incur additional debt, guarantees or liens; (ii) pay any dividends; (iii) enter into certain change of control transactions; (iv) sell, transfer, lease, license, or otherwise dispose of certain assets; (v) make certain investments or loans; and (vi) engage in certain transactions with related persons. The Loan Agreement is collateralized by substantially all of the Company’s assets, in which the Lender is granted continuing security interests. In connection with the Loan Agreement, the Company issued to the Lender warrants to purchase 76,336 shares of the Company's Class A common stock, as may be adjusted for certain anti-dilution adjustments, dividends, stock splits, and reverse stock splits, at an exercise price per share equal to $ 11.79 .

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation These condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The Company operates and controls all of the business and affairs of Rani LLC, and through Rani LLC and its subsidiary, conducts its business. Because the Company manages and operates the business and controls the strategic decisions and day-to-day operations of Rani LLC and also has a substantial financial interest in Rani LLC, the Company consolidates the financial results of Rani LLC, and a portion of its net loss is allocated to the non-controlling interests in Rani LLC held by the Continuing LLC Owners. All intercompany accounts and transactions have been eliminated in consolidation. The Organizational Transactions were considered transactions between entities under common control. As a result, the condensed consolidated financial statements for periods prior to the IPO and the Organizational Transactions have been adjusted to combine the previously separate entities for presentation purposes.
Unaudited Interim Condensed Consolidated Financial Statements	Unaudited Interim Condensed Consolidated Financial Statements The accompanying condensed consolidated financial statements have been prepared in accordance with U.S. GAAP for interim financial information and pursuant to Form 10-Q of Regulation S-X of the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. These unaudited condensed consolidated financial statements include all adjustments necessary to fairly state the financial position and the results of the Company's operations and cash flows for interim periods in accordance with U.S. GAAP. All such adjustments are of a normal, recurring nature except for the adoption of the new lease accounting standard. Operating results for the three and six months ended June 30, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022 or for any future period. The consolidated balance sheet as of December 31, 2021 included herein was derived from the audited consolidated financial statements as of that date. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. Therefore, these interim condensed consolidated financial statements should be read in conjunction with the 2021 consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K filed with the SEC on March 31, 2022.
Use of Estimates	Use of Estimates The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses and the disclosure of contingent assets and liabilities in the Company’s condensed consolidated financial statements and accompanying notes. These estimates and assumptions are based on current facts, historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of expenses that are not readily apparent from other sources. Estimates include, but are not limited to equity-based compensation expense, accrued research and development costs and, until the occurrence of the Company's IPO, the fair value of Profits Interests and preferred unit warrants. Actual results may differ materially and adversely from these estimates.
Significant Accounting Policies	Significant Accounting Policies A description of the Company’s significant accounting policies is included in the audited consolidated financial statements within its Annual Report on Form 10-K for the year ended December 31, 2021. Except as noted below, there have been no material changes in the Company’s significant accounting policies during the six months ended June 30, 2022 .
Concentrations of Credit Risk and Other Risks and Uncertainties	Concentrations of Credit Risk and Other Risks and Uncertainties Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents. The Company maintains accounts in federally insured financial institutions in excess of federally insured limits. The Company also holds money market funds that are not federally insured. However, management believes the Company is not exposed to significant credit risk due to the financial strength of the depository institutions in which these deposits are held and of the money market funds and other entities in which these investments are made. In March 2020, the World Health Organization declared the COVID-19 outbreak a pandemic. The extent to which the COVID-19 pandemic will further directly or indirectly impact the Company's results of operation and financial condition has been and will continue to be driven by many factors, most of which are beyond the Company's control and ability to forecast. Because of these uncertainties, the Company cannot estimate how long or to what extent COVID-19 will impact the Company's operations.
Fair Value of Financial Instruments	Fair Value of Financial Instruments Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. Financial assets and liabilities carried at fair value are to be classified and disclosed in one of the following three levels of the fair value hierarchy, of which the first two are considered observable and the last is considered unobservable: Level 1—Quoted prices in active markets for identical assets or liabilities. Level 2—Observable inputs (other than Level 1 quoted prices), such as quoted prices in active markets for similar assets or liabilities, quoted prices in markets that are not active for identical or similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data. Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to determining the fair value of the assets or liabilities, including pricing models, discounted cash flow methodologies and similar techniques. The carrying values of the Company’s cash equivalents, prepaid expenses, accounts payable, and accruals approximate their fair value due to their short-term nature.
Leases	Leases Prior to January 1, 2022, the Company had one cancelable operating lease agreement for its corporate headquarters and recognized related rent expense on a straight-line basis over the term of the lease. The Company’s lease agreement contained termination and renewal options. The Company did not assume termination nor renewals options in its determination of the lease term unless they were deemed to be reasonably certain at the renewal of the lease. The Company began recognizing rent expense on the date that it obtained the legal right to use and control the leased space. Subsequent to the adoption of the new leasing standard on January 1, 2022, the Company determines whether the arrangement is or contains a lease based on the unique facts and circumstances present at the inception of the arrangement and if such a lease is classified as a financing lease or operating lease. The Company has elected not to recognize on the balance sheet leases with terms of one year or less. For any arrangement that is considered to be a lease with a term greater than one year, the Company recognizes a lease asset for its right to use the underlying asset and a lease liability for the corresponding lease obligation. Operating leases are included in operating lease right-of-use ("ROU") assets and operating lease liabilities in the Company’s condensed consolidated balance sheet as of June 30, 2022. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease contract. Operating lease ROU assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the expected lease term. In determining the net present value of lease payments, the interest rate implicit in lease contracts is typically not readily determinable. As such, the Company utilizes the appropriate incremental borrowing rate (“IBR”), which is the rate incurred to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment. Certain adjustments to the ROU asset may be required for items such as initial direct costs paid or incentives received and impairment charges if we determine the ROU asset is impaired. The Company considers a lease term to be the noncancelable period during which it has the right to use the underlying asset, including any periods where it is reasonably certain the Company will exercise the option to extend the contract. Periods covered by an option to extend are included in the lease term if the lessor controls the exercise of that option. The operating lease ROU assets also include any lease payments made and exclude lease incentives. Lease expense is recognized on a straight-line basis over the expected lease term. The Company has elected to not separate lease and non-lease components for its leased assets and accounts for all lease and non-lease components of its agreements as a single lease component. The lease components resulting in a ROU asset have been recorded on the condensed consolidated balance sheet and amortized as lease expense on a straight-line basis over the lease term.
Tax Receivable Agreement	Tax Receivable Agreement In August 2021, in connection with the IPO and Organizational Transactions, the Company entered into a tax receivable agreement ("TRA") with certain of the Continuing LLC Owners. The TRA provides that the Company pay to such Continuing LLC Owners, 85 % of the amount of tax benefits, if any, it is deemed to realize (calculated using certain assumptions) as a result of (i) increases in the tax basis of assets of Rani LLC resulting from (a) any future redemptions or exchanges of Paired Interests or non-corresponding Class A Units of Rani LLC and (b) payments under the TRA and (ii) certain other benefits arising from payments under the TRA (collectively the “Tax Attributes”). A liability for the payable to parties subject to the TRA, and a reduction to stockholders’ equity, is accrued when (i) an exchange of a Paired Interest or non-corresponding Class A Units of Rani LLC has occurred and (ii) when it is deemed probable that the Tax Attributes associated with the exchange will be used to reduce the Company’s taxable income based on the contractual percentage of the benefit of Tax Attributes that the Company expects to receive over a period of time (Note 10).
Comprehensive Loss	Comprehensive Loss Comprehensive loss is defined as a change in equity of a business enterprise during a period, resulting from transactions and other events and/or circumstances from non-owner sources. The Company did not have any other comprehensive loss for any of the periods presented, and therefore comprehensive loss was the same as the Company’s net loss.
Net Loss Per Class A Common Share Attributable to Rani Holdings	Net Loss Per Class A Common Share Attributable to Rani Holdings Basic net loss per Class A common share attributable to Rani Holdings is computed by dividing net loss attributable to the Company by the weighted average number of Class A common shares outstanding during the period, without consideration of potential dilutive securities. Diluted net loss per Class A common share is computed giving effect to all potentially dilutive shares. Diluted net loss per Class A common share for all periods presented is the same as basic loss per share as the inclusion of potentially issuable shares would be antidilutive. Net loss per share is not presented for the three and six months ended June 30, 2021 as the Company did not have any economic interests prior to the date of the IPO and Organizational Transactions through which it was given ownership in Rani LLC. Losses prior to the IPO and Organizational Transactions would have been allocated to the original members of Rani LLC. The basic and diluted net loss per Class A common share attributable to Rani Holdings is applicable only for the periods following the IPO and Organizational Transactions and represents the periods that the Company had Class A common shares outstanding.
Non-controlling Interest	Non-Controlling Interest Non-controlling interest ("NCI") represents the portion of income or loss, net assets and comprehensive loss of the Company's consolidated subsidiary that is not allocable to Rani Holdings based on the Company's percentage of ownership of Rani LLC. In August 2021, based on the Organizational Transactions, Rani Holdings became the sole managing member of Rani LLC. As of June 30, 2022 , Rani Holdings held approximately 48 % of the Class A Units of Rani LLC, and approximately 52 % of the outstanding Class A Units of Rani LLC are held by the Continuing LLC Owners. Therefore, the Company reports NCI based on the Class A Units of Rani LLC held by the Continuing LLC Owners on its condensed consolidated balance sheet as of June 30, 2022. Income or loss attributed to the NCI in Rani LLC is based on the Class A Units outstanding during the period for which the income or loss is generated and is presented on the condensed consolidated statements of operations and comprehensive income or loss. Future exchanges of Paired Interests and non-corresponding Class A Units of Rani LLC will result in a change in ownership and reduce or increase the amount recorded as NCI and increase or decrease additional paid-in-capital when Rani LLC has positive or negative net assets, respectively. From the date of the Organizational Transactions to June 30, 2022 , there were 4,626,639 exchanges of Paired Interests and 158,051 exchanges of non-corresponding Class A Units of Rani LLC for an equal number of shares of the Company's Class A common stock.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In February 2016, the Financial Accounting Standards Board (the “FASB”) issued ASU 2016-02, Leases (“Topic 842”), as subsequently amended, to improve financial reporting and disclosures about leasing transactions. The Company adopted this standard on January 1, 2022 using the modified retrospective approach and elected the package of practical expedients permitted under transition guidance, which allowed the Company to carry forward its historical assessments of: 1) whether contracts are or contain leases, 2) lease classification and 3) initial direct costs, where applicable. The Company did not elect the practical expedient allowing the use-of-hindsight which would require the Company to reassess the lease term of its leases based on all facts and circumstances through the effective date and did not elect the practical expedient pertaining to land easements as this is not applicable to the current contract portfolio. The Company elected the post-transition practical expedient to not separate lease components from non-lease components for all existing lease classes. The Company also elected a policy of not recording leases on its condensed balance sheets when the leases have a term of twelve months or less and the Company is not reasonably certain to elect an option to purchase the leased asset. The adoption of this standard resulted in the recognition of a ROU asset and lease liabilities of $ 1.3 million, respectively. The adoption of the standard had no impact on the Company’s condensed consolidated statements of operations and comprehensive loss or to its cash flows from or used in operating, financing, or investing activities on its condensed consolidated statements of cash flows. No cumulative-effect adjustment within accumulated deficit was required to be recorded as a result of adopting this standard.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (“ASU 2016-13”) to require the measurement of expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions and reasonable forecasts. The main objective of ASU 2016-13 is to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. As a result of the Company having elected the extended transition period for complying with new or revised accounting standards pursuant to Section 107(b) of the JOBS Act, and assuming the Company continues to be considered an emerging growth company, ASU 2016-13 will be effective for the Company on January 1, 2023. The Company has not yet determined the potential effects of ASU 2016-13 on its condensed consolidated financial statements and disclosures.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Recorded at Fair Value on a Recurring Basis	The following table presents information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicates the level of inputs used in such measurements (in thousands): As of June 30, 2022 Level 1 Level 2 Level 3 Total Assets: Money market funds $ 94,679 $ — $ — $ 94,679 Total assets $ 94,679 $ — $ — $ 94,679 As of December 31, 2021 Level 1 Level 2 Level 3 Total Assets: Money market funds $ 115,595 $ — $ — $ 115,595 Total assets $ 115,595 $ — $ — $ 115,595
Summary of the Changes in the Fair Value of the Company’s Liability	The following tables set forth a summary of the changes in the fair value of the Company’s liability measured using Level 3 inputs (in thousands): Three Months Ended Six Months Ended 2022 2021 2022 2021 Balance at beginning of period $ — $ 536 $ — $ 320 Change in estimated fair value of Series E warrants — 70 — 286 Balance at end of period $ — $ 606 $ — $ 606

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
Schedule of Amounts Charged for Services and Rent	The table below details the amounts charged by ICL for services and rent, net of the amount that the Company charged ICL, which is included in the condensed consolidated statements of operations and comprehensive loss (in thousa nds): Three Months Ended Six Months Ended 2022 2021 2022 2021 Research and development $ 286 $ 123 $ 526 $ 156 General and administrative 53 184 116 366 Total $ 339 $ 307 $ 642 $ 522

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Summary of Consolidated Balance Sheets and Statements of Cash Flow related to Leases	Supplemental information on the Company’s condensed consolidated balance sheet and statements of cash flow as of June 30, 2022 related to leases was as follows (in thousands): June 30, 2022 Balance sheet Operating lease right-of-use assets $ 999 Operating lease liability, current portion $ 658 Operating lease liability, net current portion 341 Total operating lease liability $ 999 June 30, 2022 Cash flows Cash paid for amounts included in lease liabilities: Operating cash flows used for operating leases $ 345
Summary of Future Minimum Operating Lease Payments	As of June 30, 2022, minimum annual rental payments under the Company’s operating lease agreement is as follows (in thousands): Year ending December 31, 2022 (remaining six months) $ 345 2023 690 Total undiscounted future minimum lease payments $ 1,035 Less: Imputed interest ( 36 ) Total operating lease liability $ 999 Less: Operating lease liability, current portion 658 Operating lease liability, net current portion $ 341

Equity Based Compensation (Tabl

Equity Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Summary of Restricted Stock Unit and Award Activity	A summary of RSU activity during the periods indicated is as follows: Number of Restricted Stock Units Weighted Average Grant-Date Fair Value per Share Balance at December 31, 2021 596,500 $ 19.56 Granted 443,400 $ 13.21 Forfeited ( 69,800 ) $ 18.20 Balance at June 30, 2022 970,100 $ 16.76 A summary of RSA activity during the periods indicated is as follows: Number of Restricted Stock Awards Weighted Average Grant-Date Fair Value per Share Balance at December 31, 2021 113,173 $ 6.15 Vested ( 25,170 ) $ 6.16 Forfeited ( 2,374 ) $ 6.36 Balance at June 30, 2022 85,629 $ 6.14
Summary of Components of Equity-based Compensation Expense	Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Research and development $ 1,638 61 $ 2,886 $ 287 General and administrative 2,338 221 3,995 448 Total equity-based compensation $ 3,976 282 $ 6,881 $ 735
Stock Options [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Summary of Stock Options and Options for Common Units Activity	A summary of stock option activity during the periods indicated is as follows: Number of Stock Option Awards Weighted Average Exercise Price Weighted Aggregate Intrinsic Value (in thousands) Balance at December 31, 2021 2,300,819 $ 14.12 9.55 $ 976 Granted 1,427,285 $ 12.80 9.75 $ — Forfeited ( 40,290 ) $ 17.08 Balance at June 30, 2022 3,687,814 $ 13.57 9.33 $ 1,079 Exercisable at June 30, 2022 596,276 $ 12.93 9.09 $ 315 Nonvested at June 30, 2022 3,091,538 $ 13.70 9.37 $ 764

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following table shows the total outstanding securities considered anti-dilutive and therefore excluded from the computation of diluted net loss per Class A common share attributable to Rani Holdings: Three Months Ended June 30, Six Months Ended 2022 2022 Paired Interests 24,663,752 24,663,752 Stock options 3,687,814 3,687,814 Class A Units of Rani LLC exchangeable for Class A common stock 1,387,471 1,387,471 Restricted stock units 970,100 970,100 Restricted stock awards 85,629 85,629 Shares issuable pursuant to the ESPP 30,558 30,558 30,825,324 30,825,324

Organization and Nature of Bu_2

Organization and Nature of Business - Additional Information (Details) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended				6 Months Ended
	Aug. 31, 2021 USD ($) $ / shares shares	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Jun. 30, 2021 USD ($)	Mar. 31, 2021 USD ($)	Jun. 30, 2022 USD ($) Segment shares	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Date of incorporation						Apr. 06, 2021
Proceeds from issuance from initial public offering | $	$ 73,600
Net loss | $		$ (15,966)	$ (13,828)	$ (5,485)	$ (5,598)	$ (29,794)	$ (11,083)
Accumulated deficit | $		22,178				22,178		$ 8,331
Operating activities, net | $						19,688	$ 9,676
Cash and cash equivalents | $		$ 97,200				$ 97,200
Number of operating segment | Segment						1
Common Class A [Member]
Issuance of common stock, shares						6,458,904
Parent Company [Member]
Issuance of common stock, shares						2,100,800
Parent Company [Member] | Common Class A [Member]
Issuance of common stock, shares	7,666,667
Common Stock, Voting Rights	Class A common stock, each share of which entitles its holders to one vote per share
Common stock, conversion basis	In connection with the closing of the IPO, each LLC interest was exchanged 1 for 0.5282 as determined and predicated on the initial public offering price of the Company’s Class A common stock;
Exchange Of Common Units	12,047,925
Parent Company [Member] | Common Class A [Member] | IPO
Issuance of common stock, shares	7,666,667
Stock offering price per share | $ / shares	$ 11
Parent Company [Member] | Common Class B [Member]
Issuance of common stock, shares	29,290,391
Common Stock, Voting Rights	Class B common stock, each share of which entitles its holders to 10 votes per share on all matters presented to the Company's stockholders
Parent Company [Member] | Common Class C [Member]
Common Stock, Voting Rights	Class C common stock, which has no voting rights, except as otherwise required by law

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021	Aug. 31, 2021
Summary Of Significant Accounting Policies [Line Items]
Deferred revenue	$ 0	$ 0
Operating lease right-of-use assets	999	$ 0
Lease liability	$ 999
Continuing LLC Owners [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of tax benefit to be transferred			85%
Rani LLC [Member]
Summary Of Significant Accounting Policies [Line Items]
Exchanges of non-corresponding Class A Units of Rani LLC	4,626,639
Adoption of Accounting Standards Update 2016-02 [Member]
Summary Of Significant Accounting Policies [Line Items]
Operating lease right-of-use assets	$ 1,300
Lease liability	$ 1,300
Common Class A [Member] | Rani LLC [Member]
Summary Of Significant Accounting Policies [Line Items]
Exchanges of non-corresponding Class A Units of Rani LLC	158,051
Class A unit Member | Continuing LLC Owners [Member]
Summary Of Significant Accounting Policies [Line Items]
General Partner Ownership Interest	48%
Outstanding Capital Class A Unit [Member] | Continuing LLC Owners [Member]
Summary Of Significant Accounting Policies [Line Items]
General Partner Ownership Interest	52%

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Assets:
Total assets	$ 94,679	$ 115,595
Money market funds
Assets:
Total assets	94,679	115,595
Level 1
Assets:
Total assets	94,679	115,595
Level 1 | Money market funds
Assets:
Total assets	94,679	115,595
Level 2
Assets:
Total assets	0	0
Level 2 | Money market funds
Assets:
Total assets	0	0
Level 3
Assets:
Total assets	0	0
Level 3 | Money market funds
Assets:
Total assets	$ 0	$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details)	Jun. 30, 2022 $ / shares
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net Asset Value Per Share	$ 1

Fair Value Measurements - Summa

Fair Value Measurements - Summary of the changes in the fair value of the Liability (Details) - Level 3 - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Balance at beginning of period	$ 0	$ 536	$ 0	$ 320
Balance at end of period	0	606	0	606
Series E Warrants
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Change in estimated fair value	$ 0	$ 70	$ 0	$ 286

Accrued Expenses - Schedule of

Accrued Expenses - Schedule of Accrued Expenses (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Accrued Liabilities [Abstract]
Payroll and related	$ 2,037	$ 202
Accrued preclinical and clinical trial costs	464	621
Accrued Taxes	358	3
Accrued professional fees	178	213
Other	184	395
Total accrued expenses	$ 3,221	$ 1,434

Evaluation Agreements - Additio

Evaluation Agreements - Additional information (Details) - USD ($) $ in Thousands	1 Months Ended	6 Months Ended
	Nov. 30, 2017	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	May 31, 2021
Disaggregation of Revenue [Line Items]
Deferred revenue		$ 0		$ 0
Takeda Agreement [Member]
Disaggregation of Revenue [Line Items]
Upfront payment	$ 5,900
Amount payable for evaluation services	$ 3,000
Agreement termination period	30 days
Agreement termination negotiation period	120 days
Revenue from contract		$ 0	$ 2,700
Deferred revenue					$ 2,000

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended		6 Months Ended
	Aug. 31, 2021	Feb. 28, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Mar. 31, 2021
Related Party Transaction [Line Items]
Lessee, Operating Lease, Description			The Rani LLC-ICL Service Agreement has a twelve-month term and will automatically renew for a successive twelve-month periods unless terminated; except that the Occupancy Services in Milpitas, California have a term until February 2023, with the potential for two annual renewals, subject to approval by the landlord upon a nine months’ notice of renewal prior to the end of the lease term, and the Occupancy Services in San Antonio, Texas continue until either party gives six months’ notice of termination.
Notes receivable repaid						$ 1,700
Aggregate desired patent acquisition			$ 1,000
Proceeds from Issuance of Common Stock			71,100
Equity-based compensation expense			$ 6,881	$ 735
Rani Therapeutics Holdings Inc. [Member]
Related Party Transaction [Line Items]
Issuance of common stock, shares			2,100,800
Secondary Sales Transactions
Related Party Transaction [Line Items]
Sale of common units		210,000
Common unit, price per share		$ 7.1471
Equity-based compensation expense		$ 500
Sales price and fair value of common units, difference		500
Tax Receivable Agreement
Related Party Transaction [Line Items]
Exchange of paired interests			2,309,490
Common Class A [Member]
Related Party Transaction [Line Items]
Conversion of stock, shares			5,277,729
Issuance of common stock, shares			6,458,904
Common stock units issued			24,494,000		19,712,000
Common Class A [Member] | Rani Therapeutics Holdings Inc. [Member]
Related Party Transaction [Line Items]
Issuance of common stock, shares	7,666,667
Exchange Of Common Units	12,047,925
Series E Preferred Units [Member]
Related Party Transaction [Line Items]
Issuance of common stock, shares			7,880,120
Research and Development Expense | Secondary Sales Transactions
Related Party Transaction [Line Items]
Equity-based compensation expense		300
General and Administrative Expense | Secondary Sales Transactions
Related Party Transaction [Line Items]
Equity-based compensation expense		$ 200
ICL
Related Party Transaction [Line Items]
One time patent payment to related party			$ 300
Exchange of paired interests			2,309,490
ICL | Exclusive License Intellectual Property and Common Unit Purchase Agreement
Related Party Transaction [Line Items]
Common stock units issued			46,000,000
RMS-ICL
Related Party Transaction [Line Items]
Service agreement term			pursuant to which ICL agreed to rent a specified portion of its facility in San Jose, California to RMS. Additionally, RMS and ICL agreed to provide personnel services to the other upon requests based on rates specified in the RMS-ICL Service Agreement. In April 2022, RMS assigned the RMS-ICL Service Agreement to Rani LLC. The RMS-ICL Service Agreement has a twelve-month term and will automatically renew for successive twelve-month periods unless terminated. Rani LLC or ICL may terminate services under the RMS-ICL Service Agreement upon 60 days' notice to the other party, except for occupancy which requires six months’ notice. The RMS-ICL Service Agreement specifies the scope of services to be provided as well as the methods for determining the costs of services. Costs are billed or charged on a monthly basis by ICL or Rani LLC, respectively, as well as allocations of expenses based upon Rani LLC’s utilization of ICL’s facilities and equipment.

Related Party Transactions - Sc

Related Party Transactions - Schedule of Amounts Charged for Services and Rent (Details) - ICL - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Related Party Transaction [Line Items]
Related party charges	$ 339	$ 307	$ 642	$ 522
Research and Development Expense
Related Party Transaction [Line Items]
Related party charges	286	123	526	156
General and Administrative Expense
Related Party Transaction [Line Items]
Related party charges	$ 53	$ 184	$ 116	$ 366

Leases - Summary of consolidate

Leases - Summary of consolidated balance sheets and statements of cash flow related to leases (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Balance sheet
Operating lease right-of-use assets	$ 999	$ 0
Operating lease liability, current portion	658
Operating lease liability, less current portion	341	$ 0
Total operating lease liability	999
Cash paid for amounts included in lease liabilities:
Operating cash flows used for operating leases	$ 345

Leases - Summary of Future Mini

Leases - Summary of Future Minimum Operating Lease Payments (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Lessee, Operating Lease, Liability, to be Paid [Abstract]
2022 (remaining six months)	$ 345
2023	690
Lessee, Operating Lease, Liability, to be Paid, Total	1,035
Less: Imputed interest	(36)
Total operating lease liability	999
Less: Operating lease liability, current portion	658
Operating lease liability, net current portion	$ 341	$ 0

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Lessee, Lease, Description [Line Items]
2022 (from April to December)	$ 345
2023 (totaled)	$ 690
RMS-ICL Service Agreement [Member]
Lessee, Lease, Description [Line Items]
Service agreement remaining term	1 year 6 months
Operating lease expenses	$ 700	$ 400
Operating lease discount rate	5%
Rani LLC-ICL Service Agreement [Member]
Lessee, Lease, Description [Line Items]
2022 (from April to December)	$ 300
2023 (totaled)	$ 100

Stockholders' Equity_Members'_2

Stockholders' Equity/Members' Deficit - Additional Information (Details)	Jun. 30, 2022 shares
Rani LLC [Member]
Exchange Of Common Units	4,626,639
Previously Reported [Member]
Common units, authorized	101,000,000
Convertible Preferred Units | Previously Reported [Member]
Common units reserved for issuance	32,620,000
Common Class A | Rani LLC [Member]
Exchange Of Common Units	158,051
Profits Interests | Previously Reported [Member]
Common units reserved for issuance	10,850,000

Equity-Based Compensation - Add

Equity-Based Compensation - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	$ 3,976	$ 282	$ 6,881	$ 735
Stock Options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized equity-based compensation expense	27,700		$ 27,700
Recognized over a weighted-average period			2 years 10 months 24 days
Restricted Stock Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized equity-based compensation expense	11,600		$ 11,600
Recognized over a weighted-average period			2 years 3 months 18 days
Restricted Stock Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized equity-based compensation expense	200		$ 200
Recognized over a weighted-average period			1 year 3 months 18 days
Fair value of RSAs vested			$ 400
2021 Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized equity-based compensation expense	$ 100		$ 100
Stock-based compensation expense		$ 0		$ 0
Weighted average vesting term			4 months 24 days

Equity-Based Compensation - Sum

Equity-Based Compensation - Summary of Stock Option Activity (Details) - Stock Options [Member] - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of Options, Outstanding, Beginning balance	2,300,819
Number of Options, Granted	1,427,285
Number of options, Forfeited	(40,290)
Number of Options, Outstanding, Ending balance	3,687,814	2,300,819
Exercisable at June 30, 2022	596,276
Nonvested at June 30, 2022	3,091,538
Weighted Average Exercise Price per Share, Outstanding, Beginning balance	$ 14.12
Weighted Average Exercise Price per Share, Granted	12.80
Weighted Average Exercise Price per Share, Forfeited	17.08
Weighted Average Exercise Price per Share, Outstanding, Ending balance	13.57	$ 14.12
Weighted Average Exercise Price per Share, Exercisable at June 30, 2022	12.93
Weighted Average Exercise Price per Share, Nonvested at June 30, 2022	$ 13.70
Weighted Average Remaining Contractual Term (in years)	9 years 3 months 29 days	9 years 6 months 18 days
Weighted Average Remaining Contractual Term, Granted (in years)	9 years 9 months
Weighted Average Remaining Contractual Term, Exercisable at June 30, 2022 (in years)	9 years 1 month 2 days
Weighted Average Remaining Contractual Term, Nonvested at June 30, 2022 (in years)	9 years 4 months 13 days
Aggregate Intrinsic Value, Outstanding, Beginning Balance	$ 976
Aggregate Intrinsic Value, Granted (in thousands)	0
Aggregate Intrinsic Value, Outstanding, Ending Balance	1,079	$ 976
Aggregate Intrinsic Value, Exercisable at June 30, 2022 (in thousands)	315
Aggregate Intrinsic Value, Nonvested at June 30, 2022 (in thousands)	$ 764

Equity-Based Compensation - S_2

Equity-Based Compensation - Summary of Restricted Stock Unit and Award Activity (Details)	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Restricted Stock Units [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Outstanding, Number of Shares, Beginning Balance | shares	596,500
Granted, Number of Shares | shares	443,400
Forfeited, Number of Shares | shares	(69,800)
Outstanding, Number of Shares, Ending Balance | shares	970,100
Outstanding, Weighted-Average Grant Date Fair Value | $ / shares	$ 19.56
Granted, Weighted-Average Grant Date Fair Value | $ / shares	13.21
Forfeited, Weighted-Average Grant Date Fair Value | $ / shares	18.20
Outstanding, Weighted-Average Grant Date Fair Value | $ / shares	$ 16.76
Restricted Stock Awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Outstanding, Number of Shares, Beginning Balance | shares	113,173
Vested, Number of Shares | shares	(25,170)
Forfeited, Number of Shares | shares	(2,374)
Outstanding, Number of Shares, Ending Balance | shares	85,629
Outstanding, Weighted-Average Grant Date Fair Value | $ / shares	$ 6.15
Vested, Weighted-Average Grant Date Fair Value | $ / shares	6.16
Forfeited, Weighted-Average Grant Date Fair Value | $ / shares	6.36
Outstanding, Weighted-Average Grant Date Fair Value | $ / shares	$ 6.14

Equity-Based Compensation - S_3

Equity-Based Compensation - Summary of Components of Equity-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total equity-based compensation	$ 3,976	$ 282	$ 6,881	$ 735
Research and Development
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total equity-based compensation	1,638	61	2,886	287
General and Administrative
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total equity-based compensation	$ 2,338	$ 221	$ 3,995	$ 448

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Loss Contingencies [Line Items]
Income tax payable, amount	$ 358	$ 3
Maximum | Paired Interest
Loss Contingencies [Line Items]
Income tax payable, amount	20,400
Minimum | Paired Interest
Loss Contingencies [Line Items]
Income tax payable, amount	$ 0

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Effective income tax rate	(0.51%)	(0.21%)
Change in uncertain tax position	$ 0	$ 0
Deferred tax asset	$ 18,300

Net Loss Per Share - Schedule o

Net Loss Per Share - Schedule of Computation of Basic and Diluted Net Loss Per Class A Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Numerator:
Net loss	$ (7,624)		$ (13,847)
Denominator:
Net loss per Class A common share attributable to Rani Therapeutics Holding, Inc., basic	$ (0.31)		$ (0.60)
Net loss per Class A common share attributable to Rani Therapeutics Holding, Inc., diluted	$ (0.31)		$ (0.60)
Common Class A
Numerator:
Net loss	$ (7,624)		$ (13,847)
Denominator:
Weighted-average share outstanding basic	24,371		22,930
Weighted-average share outstanding diluted	24,371		22,930
Net loss per Class A common share attributable to Rani Therapeutics Holding, Inc., basic	$ (0.31)		$ (0.60)
Net loss per Class A common share attributable to Rani Therapeutics Holding, Inc., diluted	$ (0.31)		$ (0.60)

Net Loss Per Share - Schedule_2

Net Loss Per Share - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of diluted net loss per share	30,825,324	30,825,324
Paired Interest [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of diluted net loss per share	24,663,752	24,663,752
Stock Options [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of diluted net loss per share	3,687,814	3,687,814
Class A Units of Rani LLC exchangeable for Class A common stock [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of diluted net loss per share	1,387,471	1,387,471
Restricted Stock Units [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of diluted net loss per share	970,100	970,100
Restricted Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of diluted net loss per share	85,629	85,629
Shares Issuable Pursuant To The ESPP [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of diluted net loss per share	30,558	30,558

Subsequent Events (Additional I

Subsequent Events (Additional Information) (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended		6 Months Ended
	Aug. 31, 2022	Jul. 31, 2022	Jun. 30, 2022
Subsequent Event [Line Items]
Lessee, Operating Lease, Description			The Rani LLC-ICL Service Agreement has a twelve-month term and will automatically renew for a successive twelve-month periods unless terminated; except that the Occupancy Services in Milpitas, California have a term until February 2023, with the potential for two annual renewals, subject to approval by the landlord upon a nine months’ notice of renewal prior to the end of the lease term, and the Occupancy Services in San Antonio, Texas continue until either party gives six months’ notice of termination.
Future minimum lease payments			$ 1,035
Forecast [Member]
Subsequent Event [Line Items]
Warrants to purchase	76,336
Warrant exercise price	$ 11.79
Term of Loan security agreement Description	The Loans bear interest at a variable rate per annum equal to the greater of (A) the prime rate, as published by the Wall Street Journal from time to time plus 5.60% or (B) 10.35%.
Debt Instrument Maturity Date	Aug. 01, 2026
Line of Credit Facility, Description	Pursuant to the Loan Agreement, beginning on the first anniversary of the closing, the Company is subject to a financial covenant that requires the Company to have at least two drug products utilizing its oral delivery technology in clinical development at all times. The financial covenant does not apply if the Company has a market capitalization above $650.0 million.
Market capitalization	$ 650,000
Forecast [Member] | Avenue Venture Opportunities Fund, L.P.
Subsequent Event [Line Items]
Aggregate principal amount	45,000
Loan Facility	30,000
Remaining principal amount	15,000
Forecast [Member] | Tranches One | Avenue Venture Opportunities Fund, L.P.
Subsequent Event [Line Items]
Remaining principal amount	15,000
Forecast [Member] | Tranches Two | Avenue Venture Opportunities Fund, L.P.
Subsequent Event [Line Items]
Remaining principal amount	$ 15,000
Forecast [Member] | Minimum [Member]
Subsequent Event [Line Items]
Interest Rate	5.60%
Forecast [Member] | Maximum [Member]
Subsequent Event [Line Items]
Interest Rate	10.35%
Subsequent Event
Subsequent Event [Line Items]
Lessee, Operating Lease, Description		In July 2022, the first annual extension period under the RMS-ICL Service Agreement was approved by the landlord for Occupancy Services in Milpitas, California, for an additional twelve month lease term.
Future minimum lease payments		$ 400