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MOUNTAIN VIEW, Calif. - RenovoRx, Inc. (NASDAQ:RNXT), a biopharmaceutical company with a market capitalization of $37.7 million focused on the development of innovative oncology therapies, has been recognized for its groundbreaking research in targeted drug delivery. According to InvestingPro data, the company maintains a strong financial position with more cash than debt on its balance sheet. The company’s Trans-Arterial Micro-Perfusion (TAMP) therapy platform, designed to improve the delivery of chemotherapy to solid tumors, will be honored at the Society of Interventional Radiology (SIR) 2025 Annual Scientific Meeting.
The peer-reviewed paper, which will be presented during the JVIR Award-Winning Paper Scientific Session on Tuesday, April 1, 2025, demonstrates a significant increase in local tissue concentration of therapy when using TAMP compared to traditional intravenous methods. Authored by Dr. Khashayar Farsad and others, including RenovoRx’s founder and Chief Medical Officer, Dr. Ramtin Agah, the study showcases a 100-fold increase in drug concentration within the targeted tissue.
Dr. Agah expressed his gratitude for the recognition, stating that it reflects the company’s commitment to advancing the field of interventional oncology and potentially improving treatment for patients with solid tumors. Dr. Farsad also highlighted the potential of TAMP to address unmet needs in localized therapeutic drug delivery.
The TAMP platform is currently being evaluated in the TIGeR-PaC Phase III clinical trial for its effectiveness in treating locally advanced pancreatic cancer (LAPC). The trial utilizes RenovoRx’s FDA-cleared RenovoCath device for intra-arterial administration of chemotherapy. Analysts following the company have set price targets ranging from $3.50 to $9.00, reflecting potential upside from current levels, though InvestingPro analysis indicates the stock is currently trading near its Fair Value.
RenovoRx’s CEO, Shaun Bagai, emphasized the award’s support for the company’s decision to accelerate the commercialization of RenovoCath as a standalone device. The company is expanding relationships with oncology centers and has received initial commercial purchase orders for RenovoCath.
RenovoRx is dedicated to improving the lives of cancer patients by providing targeted delivery of therapeutic agents. The company’s RenovoCath device, which has received Orphan Drug Designation for pancreatic and bile duct cancer, is intended for the delivery of fluids to selected sites in the peripheral vascular system. With a healthy current ratio of 5.66, the company maintains strong liquidity to support its operations. InvestingPro subscribers can access additional insights, including 4 more ProTips and comprehensive financial metrics to better evaluate the company’s potential.
The information in this article is based on a press release statement.
In other recent news, RenovoRx has announced the launch of a public stock offering. The company is initiating an underwritten public offering of its common stock and pre-funded warrants, with the completion of this offering contingent on market conditions and other factors. The proceeds from this offering are intended for general corporate purposes, including funding the ongoing Phase III TIGeR-PaC study and commercial activities for its RenovoCath delivery platform. Titan Partners Group, a division of American Capital Partners, is serving as the sole bookrunner for this offering. This initiative is part of a shelf registration statement filed with the Securities and Exchange Commission in November 2022. Additionally, RenovoRx has reported its first commercial purchase orders for RenovoCath devices, with ongoing purchase order processes involving over ten medical institutions. These developments highlight RenovoRx’s strategic focus on advancing its oncology therapies and commercializing its RenovoCath device.
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