Business
RenovoRx Reports Third Quarter 2022 Financial Results
LOS ALTOS, Calif.--(BUSINESS WIRE)-- RenovoRx, Inc. (Nasdaq: RNXT), a biopharmaceutical company focused on the localized treatment of difficult-to-treat
About this update from Renovorx, Inc.
[{"type":"text","content":" LOS ALTOS, Calif.--(BUSINESS WIRE)--\nRenovoRx, Inc. (Nasdaq: RNXT), a biopharmaceutical company focused on the localized treatment of difficult-to-treat solid tumors through its proprietary RenovoRx Trans-Arterial Micro-Perfusion (RenovoTAMP®) therapy platform, today reported its financial results for the quarter ended September 30, 2022.\n\n“Since our Inception, RenovoRx’s mission has been to develop and refine our innovative therapy platform, RenovoTAMP®, for targeted intra-arterial (IA) delivery of chemotherapy directly to difficult-to-treat solid tumors with the vision of disrupting the current standard of care,” said Shaun Bagai, CEO of RenovoRx. “In Q4 of this year, we are anticipating our most significant milestone to date; the first prospective interim analysis of our Phase III TIGeR-PaC clinical trial. The results of this trial have the potential to revolutionize pancreatic cancer treatment, shifting patient focus from coping with their chemotherapy treatment and its typical harsh side effects, to spending more quality time with their family and loved ones. Additionally, the interim analysis will provide us with an important insight into RenovoTAMP and its possibilities as a therapeutic platform. We also anticipate the launch of our second clinical trial in extrahepatic cholangiocarcinoma (eCCA) in Q4 2022/Q1 2023. This will be an integral step in RenovoRx’s growth trajectory, demonstrating the ability of our therapy platform on another difficult-to-treat and aggressive form of cancer.”\n\nMr. Bagai continued, “I am confident in the team we have in place, especially with the recent addition of Angela Gill Nelms as our COO. Angela’s experience and expertise in clinical trial management, driving innovation, and building high-functioning teams has already proven to be invaluable. This is an exciting time to be a part of the RenovoRx team as we continue to be laser-focused on advancing our Phase III TIGeR-PaC clinical trial, launching our Phase II/III clinical trial in eCCA, and expanding our clinical pipeline to fight difficult-to-treat cancers.”\n\nFinancial Highlights for the Quarter Ended September 30, 2022\n\n\nAs of September 30, 2022, the Company had cash and cash equivalents and short-term marketable securities of $8.1 million.\n\n\nResearch and development expenses were $0.8 million for the quarters ended Septemb...