RenovoRx chief medical officer Agah Ramtin buys $13,500 in stock

RenovoRx , Inc. (NASDAQ:RNXT), a micro-cap pharmaceutical company valued at $37.64 million, has seen a notable transaction from its Chief Medical (TASE:BLWV) Officer, Agah Ramtin, who recently acquired 15,000 shares of the company’s common stock. The shares were purchased at a weighted average price of $0.90 per share, amounting to a total transaction value of $13,500. The stock has since rallied, showing a 30% gain over the past week to trade at $1.03. Following this acquisition on April 15, Ramtin’s direct ownership in the company increased to 1,113,460 shares.

The stock purchase was executed in open market transactions, as noted in the filing. This move reflects Ramtin’s continued investment in RenovoRx, a company known for its work in pharmaceutical preparations.

In other recent news, RenovoRx has announced an increase in the production of its FDA-cleared RenovoCath device due to heightened demand, forecasting first-quarter 2025 revenues in the low six-figure range. The company is actively progressing with its Phase III TIGeR-PaC clinical trial, which is evaluating the effectiveness of the RenovoCath device for intra-arterial chemotherapy delivery in treating locally advanced pancreatic cancer. H.C. Wainwright has maintained a Buy rating on RenovoRx, citing the company’s strategic updates and progress with the TIGeR-PaC study. RenovoRx has also been recognized for its research in targeted drug delivery, particularly its TAMP therapy platform, which significantly increases local tissue concentration of chemotherapy. The company has completed enrollment for its clinical trial and anticipates further revenue growth from new and repeat purchase orders of RenovoCath. Additionally, RenovoRx has launched a public stock offering to fund its ongoing clinical trials and commercial activities. The company’s leadership has shown confidence in its long-term strategy by purchasing over 143,000 shares of its stock. RenovoRx’s efforts to commercialize its technology are supported by strong institutional interest and ongoing collaborations with medical centers.

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