The post This BlackRock and Vanguard penny stock just exploded 250%; Time to buy? appeared on BitcoinEthereumNews.com. Rani Therapeutics Holdings (NASDAQ: RANI) shocked the stock market on Friday as its shares soared 248% to close at $1.64, following a collaboration with Japan’s Chugai Pharmaceutical. RANI one-day stock price chart. Source: Google Finance Rani’s stock jumped 222% in the past month, driven by investor excitement over its RaniPill technology, a capsule that delivers biologic drugs orally, replacing injections.  The surge followed news of a collaboration with Chugai Pharmaceutical to develop an oral formulation using RaniPill and Chugai’s rare disease antibody, a deal that could exceed $1 billion if all milestones are met. Under the agreement, Rani will receive a $10 million upfront payment and is eligible for up to $75 million in technology transfer and development milestones.  Expected sales milestones  The company could also earn up to $100 million in sales milestones and single-digit royalties on future sales. Chugai retains the option to expand the partnership to include as many as five additional drug targets under similar terms. “This partnership represents a convergence of Rani’s cutting-edge oral delivery platform and Chugai’s expertise in developing complex antibodies,” said Rani CEO Talat Imran. In tandem with the Chugai deal, Rani announced a $60.3 million private placement financing led by Samsara BioCapital, with participation from RA Capital Management, Anomaly, Special Situations Funds, Invus, and founder Mir Imran. Despite trading at penny stock levels, Rani has drawn attention from major institutional investors, with Vanguard Group holding 799,679 shares and BlackRock owning 118,652 shares, according to the latest filings, a notable show of confidence in a small-cap name. Featured image via Shutterstock Source: https://finbold.com/this-blackrock-and-vanguard-penny-stock-just-exploded-250-time-to-buy/The post This BlackRock and Vanguard penny stock just exploded 250%; Time to buy? appeared on BitcoinEthereumNews.com. Rani Therapeutics Holdings (NASDAQ: RANI) shocked the stock market on Friday as its shares soared 248% to close at $1.64, following a collaboration with Japan’s Chugai Pharmaceutical. RANI one-day stock price chart. Source: Google Finance Rani’s stock jumped 222% in the past month, driven by investor excitement over its RaniPill technology, a capsule that delivers biologic drugs orally, replacing injections.  The surge followed news of a collaboration with Chugai Pharmaceutical to develop an oral formulation using RaniPill and Chugai’s rare disease antibody, a deal that could exceed $1 billion if all milestones are met. Under the agreement, Rani will receive a $10 million upfront payment and is eligible for up to $75 million in technology transfer and development milestones.  Expected sales milestones  The company could also earn up to $100 million in sales milestones and single-digit royalties on future sales. Chugai retains the option to expand the partnership to include as many as five additional drug targets under similar terms. “This partnership represents a convergence of Rani’s cutting-edge oral delivery platform and Chugai’s expertise in developing complex antibodies,” said Rani CEO Talat Imran. In tandem with the Chugai deal, Rani announced a $60.3 million private placement financing led by Samsara BioCapital, with participation from RA Capital Management, Anomaly, Special Situations Funds, Invus, and founder Mir Imran. Despite trading at penny stock levels, Rani has drawn attention from major institutional investors, with Vanguard Group holding 799,679 shares and BlackRock owning 118,652 shares, according to the latest filings, a notable show of confidence in a small-cap name. Featured image via Shutterstock Source: https://finbold.com/this-blackrock-and-vanguard-penny-stock-just-exploded-250-time-to-buy/