RenovoRx (RNXT) PT Raised to $11.50 by Ascendiant on Strong Q1 2025 Results

On Thursday, Ascendiant analyst Edward Woo raised the price target on RenovoRx Inc. (NASDAQ:RNXT) to $11.50 from $11, while maintaining a Buy rating on the shares. This adjustment follows the company’s strong revenue growth reported in its Q1 2025 results. Woo indicated that the commercialization of RenovoCath and anticipated positive clinical data in Q3 will serve as strong catalysts for the stock.

RenovoRx (RNXT) PT Raised to $11.50 by Ascendiant on Strong Q1 2025 Results

A clinical researcher in a lab examining a new biopharmaceutical product.

The Q1 result includes ~$200K in revenue from commercial sales of RenovoCath alone. RenovoCath is an FDA-cleared and dual-balloon catheter device for the targeted isolation of blood flow and delivery of fluids. R&D expenses increased to $1.7 million, up from $1.3 million in Q1 2024, which was driven by higher employee compensation and manufacturing costs during the quarter.

The company’s Phase 3 TIGeR-PaC clinical trial showed promising results, with patients experiencing a median overall survival of 16 months using their targeted approach compared to 10 months with standard chemotherapy. There was also a 65% reduction in adverse events like nausea and fatigue. This trial is evaluating the company’s proprietary TAMP therapy platform for the treatment of Locally Advanced Pancreatic Cancer.

RenovoRx Inc. (NASDAQ:RNXT) is a clinical-stage biopharmaceutical company that develops targeted combination therapies to enhance therapeutic outcomes for cancer patients undergoing treatment.

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Disclosure: None. This article is originally published at Insider Monkey.