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RenovoRx , Inc. (NASDAQ:RNXT) Chief Medical (TASE:BLWV) Officer Agah Ramtin has recently increased his stake in the company by purchasing 15,000 shares of common stock. The transaction, which occurred on April 15, 2025, was conducted at a weighted average price of $0.90 per share, amounting to a total investment of $13,500. The purchase timing appears strategic, as InvestingPro data shows the stock has gained over 30% in the past week, with analysts setting price targets between $3 and $9.
Following this acquisition, Ramtin’s total direct ownership in RenovoRx stands at 1,113,460 shares. The purchase was made through open market transactions, reflecting the executive’s confidence in the company’s prospects. InvestingPro analysis reveals the company maintains a strong liquidity position with a current ratio of 4.1 and holds more cash than debt on its balance sheet.
RenovoRx, based in Mountain View, California, is involved in pharmaceutical preparations, focusing on innovative solutions in the life sciences sector. While the company currently has a market capitalization of $37.6 million, InvestingPro subscribers can access additional insights, including 8 more ProTips and detailed financial metrics to better evaluate this emerging biotech player.
In other recent news, RenovoRx has announced an increase in production of its FDA-cleared RenovoCath device due to growing demand, forecasting first-quarter 2025 revenue in the low six-figure range. The company has also completed enrollment for its Phase III TIGeR-PaC clinical trial, with significant progress in treating locally advanced pancreatic cancer. RenovoRx’s management and board members have shown confidence in the company’s future by purchasing over 143,000 shares of its stock. H.C. Wainwright has maintained its Buy rating on RenovoRx, citing the company’s strategic updates and clinical trial advancements. The company has also been recognized for its research in targeted drug delivery, receiving honors at the Society of Interventional Radiology 2025 Annual Scientific Meeting. Additionally, RenovoRx has launched a public stock offering to fund its ongoing clinical studies and commercial activities. The company reported its first revenue from RenovoCath in the fourth quarter of 2024, amounting to approximately $43,000, with expectations for continued revenue growth. RenovoRx is expanding its commercial reach, having received purchase orders from over ten medical institutions.
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