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RenovoRx , Inc. (NASDAQ:RNXT) Chief Medical (TASE:BLWV) Officer Agah Ramtin has recently purchased 20,000 shares of the company’s common stock, as disclosed in a recent SEC filing. The shares were acquired on April 11 at $0.80 each, totaling $16,000. The purchase comes as the stock trades near its 52-week low of $0.75, with analysts setting price targets between $3 and $9. Following this transaction, Ramtin’s direct ownership stands at 1,098,460 shares. This open market purchase reflects Ramtin’s continued investment in the pharmaceutical company, which is focused on developing innovative treatments for cancer and other serious diseases. The company maintains a strong financial position with a current ratio of 4.1 and more cash than debt on its balance sheet. Want deeper insights into insider trading patterns and company valuations? InvestingPro offers exclusive analysis and 12 additional key insights for RNXT.
In other recent news, RenovoRx reported its first revenue from the RenovoCath device in the fourth quarter of 2024, amounting to approximately $43,000. The company anticipates revenue to rise to the low six-figure range in the first quarter of 2025, with expectations for further increases throughout the year. Additionally, RenovoRx completed its TIGeR-PaC clinical trial enrollment, targeting completion in 2025, and shared its 2024 financial results, which included a $7.2 million cash position as of December 31, 2024, with an additional $12.1 million raised in February 2025. H.C. Wainwright maintained its Buy rating on RenovoRx, citing the company’s strategic update and ongoing Phase 3 TIGeR-PaC study. The study aims to treat locally advanced pancreatic cancer using the RenovoCath delivery system. RenovoRx has also been recognized for its Trans-Arterial Micro-Perfusion (TAMP) therapy platform at the Society of Interventional Radiology 2025 Annual Scientific Meeting. The company is progressing with its commercialization efforts for RenovoCath, having received purchase orders from more than ten medical institutions, including high-volume National Cancer Institute-designated centers. Furthermore, RenovoRx has initiated an underwritten public offering of its common stock and pre-funded warrants to support its ongoing Phase III TIGeR-PaC study and commercial activities for RenovoCath.
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