RenovoRx increases production of RenovoCath device to meet growing demand

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Key Takeaways

RenovoRx is increasing production of its RenovoCath device, responding to rising demand from oncologists and interventional radiologists.
The RenovoCath device delivers agents directly to targeted tissues, minimizing systemic exposure and offering a localized treatment approach.
RenovoRx projects first-quarter 2025 revenue in the low six-figure range, with a $400 million total addressable market in peak annual U.S. sales.
Management and board members have demonstrated confidence in the company's future by purchasing shares during the latest open trading window.

RenovoCath is designed to deliver diagnostic and therapeutic agents directly to targeted tissues, offering a localized approach to treatment that can minimize systemic exposure.

RenovoRx increases production of RenovoCath: ©Wrightstudio - stock.adobe.com

RenovoRx Inc. (Nasdaq: RNXT), a life sciences company specializing in targeted cancer therapies, announced it is increasing production of its FDA-cleared RenovoCath drug-delivery device amid rising demand from oncologists and interventional radiologists.

The company’s principal manufacturer, Medical Murray Inc., based in North Barrington, Illinois, will support the expanded output of the catheter-based device. RenovoCath is designed to deliver diagnostic and therapeutic agents directly to targeted tissues, offering a localized approach to treatment that can minimize systemic exposure.

“As we anticipated, we are seeing growing demand for our proprietary RenovoCath device,” said Shaun Bagai, CEO of RenovoRx. “We expect first-quarter 2025 revenue from RenovoCath to reach the low six-figure range, with continued sequential growth quarter-over-quarter throughout the remainder of the year.”

Bagai added that the company estimates a total addressable market of $400 million in peak annual U.S. sales for RenovoCath and aims to capture this opportunity with a lean operating model. “We further believe we can capture this market over time with a very small sales force and/or distribution partners, which will keep our operating expenses low and put us on a path to cash flow positive operations,” he said.

In a show of confidence in the company's trajectory, members of RenovoRx’s management team and board of directors recently purchased a total of 143,145 shares of company stock on the open market at an average price of $0.8346 per share during the latest open trading window.

“I, along with other management team members and members of our board of directors, have purchased shares of RenovoRx stock in the open market during our recent open trading window,” Bagai said. “We are excited about the long-term value proposition of RenovoRx, and have therefore taken the opportunity to increase our equity positions at the company’s current valuation.”