On October 22, 2025, Rani Therapeutics announced the resignations of Andrew Farquharson and Maulik Nanavaty from its board, with appointments of Abraham Bassan and Dr. Vasudev Bailey effective the same date. Also, the company completed a private placement on October 23, 2025, issuing approximately 42.6 million shares and raising its total shares outstanding to around 97.5 million.