Business
RenovoRx Reports Initial Revenues from RenovoCath® Commercialization, and Provides Update on Ongoing Pivotal Phase III TIGeR-PaC Clinical Trial
MOUNTAIN VIEW, Calif., April 01, 2025--RenovoRx, Inc. ("RenovoRx" or the "Company") (Nasdaq: RNXT), a life sciences company developing innovative targeted oncology therapies and commercializing RenovoCath®, a novel, FDA-cleared drug-delivery device, today announced its financial results and business updates for the fourth quarter and full year ended December 31, 2024.
About this update from Renovorx, Inc.
[{"type":"text","content":"Revenues from RenovoCath Expected to Grow Sequentially During 2025 with Expansion of New Customer Purchase Orders and Customer Reorders","length":135,"tagName":"p","attribs":{}},{"type":"text","content":"Completion of TIGeR-PaC Clinical Trial Enrollment and Review of Second Interim Analysis by Data Monitoring Committee on Target for 2025","length":135,"tagName":"p","attribs":{}},{"type":"text","content":"Reports 2024 Financial Results Including $7.2 Million Cash Position as of December 31, 2024, with Additional $12.1 Million in Gross Proceeds Raised in February 2025","length":164,"tagName":"p","attribs":{}},{"type":"text","content":"Company to Host Fireside Chat on Thursday, April 3rd at 12 p.m. ET","length":66,"tagName":"p","attribs":{}},{"type":"text","content":"MOUNTAIN VIEW, Calif., April 01, 2025--(BUSINESS WIRE)--RenovoRx, Inc. ("RenovoRx" or the "Company") (Nasdaq: RNXT), a life sciences company developing innovative targeted oncology therapies and commercializing RenovoCath®, a novel, FDA-cleared drug-delivery device, today announced its financial results and business updates for the fourth quarter and full year ended December 31, 2024.","length":407,"tagName":"p"},{"type":"text","content":""The fourth quarter of 2024 marks a significant milestone in our company history as we have generated our first revenue from sales of our proprietary RenovoCath device on a standalone basis, with expectations for meaningful revenue growth going forward. Importantly, we believe our current commercial strategy can be accomplished without a material increase in our capital expenditures, regardless of whether we self-commercialize or choose to partner with a larger organization and use their existing sales force and channels. Further, we believe that the gross proceeds from our February 2025 public offering of $12.1 million together with our cash on hand of $7.2 million at year end fully funds our current operational plan as we look to scale RenovoCath revenues and progress our Phase III TIGeR-PaC clinical trial towards key milestones. Moreover, we expect that growing RenovoCath revenues will reduce our burn rate as we prudently deploy our cash on hand to drive shareholder value," said Shaun Bagai, CEO of RenovoRx.","length":1036,"tagName":"p"},{"type":"text","content":""Based on our internal analysis wi...