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RenovoRx , Inc. (NASDAQ:RNXT) Chief Medical (TASE:BLWV) Officer Agah Ramtin has acquired 30,000 shares of the company's common stock, according to a recent SEC filing. The transaction, which took place on April 9, 2025, was executed at a weighted average price of $0.8133 per share, amounting to a total investment of $24,399. The purchase comes as the stock trades near its 52-week low of $0.75, with shares down about 36% year-to-date. Following this purchase, Ramtin's direct ownership in RenovoRx stands at 1,078,460 shares. The shares were acquired through open market transactions. InvestingPro analysis shows the company maintains a healthy balance sheet with more cash than debt and a strong current ratio of 4.1, though it's currently burning through cash reserves. Get access to 12 additional InvestingPro Tips and comprehensive insider trading analysis to make more informed investment decisions.
In other recent news, RenovoRx has shared updates on its financial and clinical progress. The company reported its first revenue from the RenovoCath device in late 2024, amounting to approximately $43,000, with expectations for revenue to rise to the low six-figure range in early 2025. This growth is attributed to new customer purchase orders and reorders from more than ten medical institutions. RenovoRx is also advancing its Phase III TIGeR-PaC clinical trial, with full enrollment expected by 2025, and a second interim analysis anticipated after the 52nd event, likely occurring in the second quarter of 2025. The company's strategic update was well-received by H.C. Wainwright, which reaffirmed its Buy rating and $3.00 price target on RenovoRx stock. Additionally, RenovoRx has been recognized for its innovative research in targeted drug delivery, earning an award at the Society of Interventional Radiology 2025 Annual Scientific Meeting. The company has also launched a public stock offering to support its ongoing Phase III study and commercial activities for RenovoCath. These developments reflect RenovoRx's commitment to advancing its oncology therapies and expanding its commercial reach.
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