Fed’s Powell opens door to potential rate cuts at Jackson Hole
Marton Laurence, a director at RenovoRx , Inc. (NASDAQ:RNXT), recently acquired 12,050 shares of the company's common stock in an open market purchase. The timing is notable as the stock has declined nearly 9% over the past week, according to InvestingPro data. The transaction took place on April 8, 2025, at a price of $0.848 per share, amounting to a total purchase value of $10,218. Following this acquisition, Laurence now holds 45,684 shares directly in the $29.24 million market cap company. While analysts anticipate sales growth this year, the company maintains a strong balance sheet with more cash than debt. This activity was disclosed in a regulatory filing with the Securities and Exchange Commission.Want deeper insights into insider trading patterns and 10+ additional InvestingPro Tips for RNXT? Unlock exclusive analysis with InvestingPro.
In other recent news, RenovoRx has provided updates on its financial and operational progress. The company announced its first revenue from the RenovoCath device, amounting to approximately $43,000 in the fourth quarter of 2024, with expectations for revenue to rise to the low six-figure range in the first quarter of 2025. This growth is supported by new purchase orders and reorders from more than ten medical institutions. RenovoRx is also advancing its Phase III TIGeR-PaC clinical trial, with full enrollment on target for 2025, and has completed 90 patient randomizations as of March 28, 2025. The company ended 2024 with a cash position of $7.2 million and raised an additional $12.1 million in February 2025. H.C. Wainwright has maintained a Buy rating on RenovoRx stock, with a price target of $3.00 per share. Additionally, RenovoRx has been recognized for its research in targeted drug delivery, with its TAMP therapy platform being honored at the Society of Interventional Radiology 2025 Annual Scientific Meeting. The company has also launched a public stock offering to fund its ongoing Phase III study and commercial activities for RenovoCath.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.