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MOUNTAIN VIEW, Calif. - RenovoRx, Inc. (NASDAQ: RNXT), a biopharmaceutical company specializing in targeted cancer therapies with a market capitalization of $35.5 million, has announced the initiation of patient enrollment at Johns Hopkins Medicine for its Phase III TIGeR-PaC clinical trial. According to InvestingPro data, the company maintains a strong liquidity position with a current ratio of 4.1, indicating robust short-term financial stability. Johns Hopkins Medicine will contribute to the study of RenovoRx’s drug-device combination for treating locally advanced pancreatic cancer (LAPC) from their Sibley Memorial Hospital campus.
Valerie Lee, MD, a medical oncologist at Johns Hopkins Medicine, has been appointed as the Principal Investigator for the trial at the institution. Michael J. Pishvaian, MD, PhD, continues to serve as the Trial Chairman for TIGeR-PaC, overseeing the study’s progress across various clinical sites.
The TIGeR-PaC trial is evaluating the effectiveness of intra-arterial delivery of gemcitabine (IAG) through RenovoCath, a RenovoRx FDA-cleared device, as part of its Trans-Arterial Micro-Perfusion (TAMP) therapy platform. The trial aims to compare the IAG treatment to the current standard systemic intravenous chemotherapy for LAPC.
As of March 28, 2025, 90 patients have been randomized in the trial, with 50 events recorded. The trial’s protocol requires 114 randomized patients and 86 events to complete the final analysis. While the company is rapidly advancing its clinical program, InvestingPro analysis reveals the company is currently burning through cash, though it maintains more cash than debt on its balance sheet. Analysts project a 46.6% revenue growth for fiscal year 2025, suggesting potential commercial opportunities ahead. A second interim analysis will be conducted after the 52nd event, with results expected to be reviewed over several months by the TIGeR-PaC Data Monitoring Committee. Recommendations from this committee are anticipated in the second half of 2025.
RenovoCath is designed for the targeted delivery of therapeutic agents to specific sites in the peripheral vascular system. The device has also been indicated for temporary vessel occlusion in various medical applications.
RenovoRx has received its first commercial purchase orders for RenovoCath devices as of December 2024 and is actively seeking to expand its customer base, including National Cancer Institute-designated centers. The company is exploring additional revenue-generating activities, potentially in collaboration with medical device commercial partners.
The drug-device combination product candidate, which utilizes RenovoCath, is currently under investigation and has not received FDA approval for commercial sale. However, it has been granted Orphan Drug Designation for pancreatic and bile duct cancers.
This news article is based on a press release statement from RenovoRx, Inc. With the company’s next earnings report due on May 19, 2025, investors seeking deeper insights can access additional financial metrics and 8 more exclusive ProTips through InvestingPro, including detailed analysis of the company’s valuation multiples and growth prospects in the biotechnology sector.
In other recent news, RenovoRx announced a significant ramp-up in the production of its FDA-cleared RenovoCath device, responding to increased demand from oncologists and interventional radiologists. The company projects first-quarter 2025 revenue from the device to be in the low six-figure range, with anticipated growth throughout the year. Additionally, RenovoRx has completed enrollment for its Phase III TIGeR-PaC clinical trial, which is evaluating the effectiveness of its TAMP therapy platform in treating locally advanced pancreatic cancer. The trial’s second interim analysis is expected in the second quarter of 2025, following the 52nd event. H.C. Wainwright has maintained its Buy rating on RenovoRx, citing the company’s progress in its clinical trial and commercial activities. The company also launched a public stock offering to fund its ongoing clinical study and commercial efforts. RenovoRx’s TAMP therapy platform has been recognized for its potential to improve chemotherapy delivery to solid tumors, with a peer-reviewed paper highlighting a 100-fold increase in local tissue concentration. This recognition supports the company’s strategy to accelerate the commercialization of RenovoCath as a standalone device.
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