Thu, May 15, 8:17 PM (28 days ago)
RenovoRx, Inc. (RNXT) reported its Q1 2025 financial results, highlighting key metrics and operational updates. The company generated $197,000 in revenue from RenovoCath sales, marking its first full quarter of revenue generation. Operating expenses increased by 30% year-over-year, driven by higher research and development and selling, general, and administrative costs. The net loss for the quarter was $2.4 million, compared to $1.1 million in Q1 2024. RenovoRx ended the quarter with $14.6 million in cash and cash equivalents, up from $7.1 million in Q4 2024, due to a $10.8 million equity offering in February 2025. The company continues to advance its Phase III TIGeR-PaC trial for IAG and is exploring commercialization strategies for RenovoCath. Despite progress, RenovoRx faces uncertainties, including the need for additional funding and the risks associated with clinical trials and regulatory approvals. The company's stock price may be volatile, and it may need to raise more capital to support its operations and growth strategies.