olivLaw · US equity research
RenovoRx, Inc. RNXT
Surgical & Medical Instruments & Apparatus · SIC 3841 · Vertical: Surgical & Medical Instruments & Apparatus (SIC 3841)
RenovoRx develops targeted oncology therapies and sells the RenovoCath device, an FDA-cleared local drug-delivery catheter. The company is moving from clinical development into commercial sales, and quarterly revenue grew quickly in 2026 while the Phase III TIGeR-PaC study nears completion. Financing risk and the Nasdaq listing requirement remain important for investors and readers of this profile.
At the close of 05 Nov 2026, RenovoRx, Inc. (RNXT) stock was 1.19 USD (−9.16% on the day), with market capitalisation 53.7 m USD, beta 1.15, 52-week range 0.73–2.52 USD. Latest reported quarter (Q2 2026): revenue of 909.0 k USD (+115.4% YoY), net income of -2.9 m USD, diluted EPS -0.06 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 40.1
- weak (30–45)
- Bollinger (20, 2)
- 1.07 – 1.45
- in the lower half of the band · %B 0.31 · band width 30.0%
- SMA 50 / 200
- 1.55 / 1.11
- mixed trend
- MACD (12, 26, 9)
- -0.04 / -0.05
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −14.4% | −1.1% | −13.3 pp | — |
| 3 months | +3.5% | −0.5% | +3.9 pp | — |
| 6 months | +35.2% | +4.4% | +30.8 pp | — |
| Year to date | +41.7% | +12.3% | +29.4 pp | — |
| 1 year | +15.5% | +13.5% | +2.0 pp | −31.3% |
| 3 years | +0.8% | +76.4% | −75.6 pp | −15.1% |
| 5 years | −77.4% | +63.7% | −141.1 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | 197.0 k | 422.0 k | 266.0 k | 238.0 k | 563.0 k | 909.0 k |
| Cost of revenue | — | — | 94.0 k | 152.0 k | 53.0 k | 28.0 k | 84.0 k | 143.0 k |
| Gross profit | — | — | 103.0 k | 270.0 k | 213.0 k | 210.0 k | 479.0 k | 766.0 k |
| Research & development | 1.7 m | 1.6 m | 1.6 m | 1.4 m | 1.7 m | 1.5 m | 1.2 m | 1.2 m |
| SG&A | 1.2 m | 1.1 m | 1.6 m | 1.5 m | 1.7 m | 2.2 m | 2.7 m | 2.9 m |
| Operating income | -2.8 m | -2.6 m | -3.1 m | -2.7 m | -3.2 m | -3.5 m | -3.5 m | -3.3 m |
| Depreciation & amortisation | — | — | — | 1.0 m | 1.0 m | 0 | 1.0 k | — |
| Income tax | 0 ≈ | — | 0 | 0 ≈ | 0 ≈ | 2.0 k | 0 | 0 ≈ |
| Net income | -2.5 m | -2.9 m | -2.4 m | -2.9 m | -2.9 m | -2.9 m | -3.5 m | -2.9 m |
| Diluted EPS | -0.10 | -0.11 ≈ | -0.08 | -0.08 | -0.08 | -0.08 ≈ | -0.09 | -0.06 |
| Operating cash flow | -2.2 m ≈ | -2.4 m | -3.4 m | -2.3 m ≈ | -2.3 m ≈ | -3.0 m | -3.7 m | -2.9 m ≈ |
| Capex | — | — | 2.0 k | 0 ≈ | 0 ≈ | 0 | 0 | 71.0 k ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | unavailable | unavailable | unavailable | unavailable | 43.0 k | 1.1 m |
| Revenue YoY | unavailable | unavailable | unavailable | unavailable | unavailable | +2,511.6% |
| Net income | -3.8 m | -6.3 m | -9.9 m | -10.2 m | -8.8 m | -11.2 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| Diluted EPS | unavailable | -1.21 | -1.09 | -0.99 | -0.40 | -0.32 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| net % | unavailable | unavailable | unavailable | unavailable | -20,497.7% | -994.5% |
| Free cash flow | unavailable | unavailable | unavailable | unavailable | -9.1 m | -11.0 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 7.0 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 5.4 m USD
- Total assets
- 8.1 m USD
- Debt / equity
- unavailable
- Current ratio
- 4.02x
- ROE
- -225.6%
- ROA
- -137.8%
- FCF margin
- -977.3%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | 43.0 k | 1.1 m | SEC (XBRL)· 30 Mar 2026verified |
| Cost of revenue | — | — | — | — | 0 | 327.0 k | SEC (XBRL)· 30 Mar 2026verified |
| Gross profit | — | — | — | — | 43.0 k | 796.0 k | SEC (XBRL)· 30 Mar 2026verified |
| Research & development | 2.4 m | 3.0 m | 4.3 m | 5.7 m | 6.0 m | 6.3 m | SEC (XBRL)· 30 Mar 2026verified |
| SG&A | — | — | — | 5.7 m | 5.0 m | 7.0 m | SEC (XBRL)· 30 Mar 2026verified |
| Operating income | -3.2 m | -5.7 m | -10.0 m | -11.4 m | -11.0 m | -12.5 m | SEC (XBRL)· 30 Mar 2026verified |
| Depreciation & amortisation | — | — | — | — | 0 | 2.0 m | SEC (XBRL)· 30 Mar 2026verified |
| EBITDA | — | — | — | — | -11.0 m ≈ | -10.5 m ≈ | SEC (XBRL)· 30 Mar 2026derived |
| Pre-tax income | — | — | — | — | -8.8 m | -11.2 m | SEC (XBRL)· 30 Mar 2026verified |
| Income tax | — | — | — | — | — | 2.0 k | SEC (XBRL)· 30 Mar 2026verified |
| Net income | -3.8 m | -6.3 m | -9.9 m | -10.2 m | -8.8 m | -11.2 m | SEC (XBRL)· 30 Mar 2026verified |
| Diluted EPS | — | -1.21 | -1.09 | -0.99 | -0.40 | -0.32 | SEC (XBRL)· 30 Mar 2026verified |
| Weighted average diluted shares | — | — | 9.1 m | 10.3 m | 22.3 m | 35.3 m | SEC (XBRL)· 30 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 1.8 m | 15.2 m | 4.4 m | 1.2 m | 7.2 m | 7.0 m | SEC (XBRL)· 30 Mar 2026verified |
| Receivables | — | — | — | — | 43.0 k | 139.0 k | SEC (XBRL)· 30 Mar 2026verified |
| Inventories | — | — | — | — | 0 | 189.0 k | SEC (XBRL)· 30 Mar 2026verified |
| Current assets | 1.9 m | 16.3 m | 7.3 m | 1.5 m | 7.8 m | 7.9 m | SEC (XBRL)· 30 Mar 2026verified |
| Property, plant & equipment, net | — | — | — | — | 12.0 k | 12.0 k | SEC (XBRL)· 30 Mar 2026verified |
| Total assets | 1.9 m | 16.3 m | 7.3 m | 1.5 m | 8.1 m | 8.1 m | SEC (XBRL)· 30 Mar 2026verified |
| Accounts payable | 162.0 k | 525.0 k | 534.0 k | 561.0 k | 586.0 k | 799.0 k | SEC (XBRL)· 30 Mar 2026verified |
| Current liabilities | 4.1 m | 938.0 k | 1.1 m | 1.2 m | 1.9 m | 2.0 m | SEC (XBRL)· 30 Mar 2026verified |
| Total liabilities | 4.1 m | 938.0 k | 1.1 m | 4.5 m | 3.6 m | 2.7 m | SEC (XBRL)· 30 Mar 2026verified |
| Equity | -14.7 m † | 15.3 m † | 6.2 m † | 3.0 m † | 4.5 m † | 5.4 m † | SEC (XBRL)· 30 Mar 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -3.5 m | -5.9 m | -8.8 m | -10.3 m | -9.1 m | -11.0 m | SEC (XBRL)· 30 Mar 2026verified |
| Capex | — | — | — | — | 12.0 k | 2.0 k | SEC (XBRL)· 30 Mar 2026verified |
| Free cash flow | — | — | — | — | -9.1 m ≈ | -11.0 m ≈ | SEC (XBRL)· 30 Mar 2026derived |
| Investing cash flow | — | -15.0 k | -2.0 m | 2.0 m | -12.0 k | -2.0 k | SEC (XBRL)· 30 Mar 2026verified |
| Financing cash flow | 3.2 m | 19.3 m | 42.0 k | 5.0 m | 15.1 m | 10.8 m | SEC (XBRL)· 30 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 3 of at least 6
- score weight coverage: 18.8% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 53.7 m USD
Key indicators
Coverage and freshness
Score by group
19% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 3 of at least 6; score weight coverage: 18.8% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | -621.7% | 6 (vs peers) | 33% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 5.7x | 100 (on a fixed band) | 22% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | -22.2% | 0 (on a fixed band) | 44% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial100/100 · 1/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality· partial6/100 · 1/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partial0/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
RENOVORX, INC. (RNXT). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 1.1 m USD in 2025; YoY growth 2,511.6%; net margin -621.7%; ROE -125.2%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 3 of at least 6; score weight coverage: 18.8% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Current ratio: 5.7x
What contradicts it
- Net margin: -621.7%
- FCF yield: -22.2%
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, P/E (TTM), EV/EBITDA, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Surgical & Medical Instruments & Apparatus (SIC 3841) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| SYKStryker Corp | 129.3 bn | 36.2 | 16.0% | 13.8% | +11.2% | −8% / +15% |
| MMM3m Company | 100.2 bn | 28.9 | 80.8% | 14.0% | +1.5% | +13% / +134% |
| BSXBoston Scientific Corporation | 66.4 bn | 19.4 | 14.3% | 16.6% | +19.9% | −55% / −18% |
| BDXBecton, Dickinson And Company | 57.0 bn | 63.2 | 3.8% | 4.0% | +8.2% | +37% / +13% |
| RMDResMed Inc. | 33.8 bn | 21.9 | 26.4% | 27.8% | +9.9% | −6% / +52% |
| DXCMDexcom, Inc. | 33.0 bn | 34.8 | 37.7% | 19.4% | +15.6% | +39% / −23% |
| WSTWest Pharmaceutical Services, Inc. | 28.5 bn | 45.9 | 21.2% | 18.8% | +6.3% | +47% / +17% |
| TFXTeleflex Incorporated | 6.4 bn | — | -28.9% | -45.8% | +17.2% | +33% / −33% |
| MMSIMerit Medical Systems Inc | 5.4 bn | 33.7 | 9.8% | 9.9% | +11.8% | +3% / +25% |
| IRTCiRhythm Holdings, Inc. | 4.3 bn | — | -9.6% | -1.7% | +26.2% | −31% / +53% |
| PLSEPulse Biosciences, Inc. | 3.8 bn | — | -78.5% | -6,755.8% | unavailable | +288% / +488% |
| AORTArtivion, Inc. | 1.2 bn | — | -0.7% | -0.7% | +13.6% | −46% / +43% |
| IRMDIradimed Corporation | 1.1 bn | 45.7 | 23.4% | 26.8% | +14.4% | −8% / +95% |
| BBNXBeta Bionics, Inc. | 842.1 m | — | -23.9% | -65.3% | +53.9% | −51% / unavailable |
| KIDSOrthoPediatrics Corp | 841.3 m | — | -9.8% | -12.8% | +15.4% | +74% / +5% |
| DCTHDelcath Systems, Inc. | 502.8 m | 1,168.8 | 0.5% | 0.6% | +129.1% | +49% / +427% |
| OBIOOrchestra BioMed Holdings, Inc. | 337.8 m | — | -601.8% | -184.6% | +1,169.2% | +6% / −10% |
| PROFProfound Medical Corp. | 251.3 m | — | -73.5% | -171.6% | +50.7% | +4% / −37% |
| PDEXPro-Dex, Inc. | 195.8 m | 16.9 | 26.5% | 15.1% | +16.5% | +68% / +279% |
| GUTSFractyl Health, Inc. | 142.6 m | — | — | — | −100.0% | −95% / unavailable |
| APYXApyx Medical Corp | 128.9 m | — | -96.4% | -14.8% | +9.9% | −24% / +30% |
| LUNGPulmonx Corporation | 111.5 m | — | -90.3% | -47.9% | +8.0% | +58% / −77% |
| MBOTMicrobot Medical Inc. | 71.9 m | — | -32.9% | — | unavailable | −56% / −15% |
| RNXTRenovorx, Inc. | 53.7 m | — | -125.2% | -621.7% | +2,511.6% | +16% / +1% |
| SRTSSensus Healthcare, Inc. | 48.1 m | — | -34.8% | -88.5% | −34.3% | −30% / +21% |
1- and 3-year price returns: for RNXT from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
RenovoRx develops targeted oncology therapies and sells the RenovoCath device, an FDA-cleared local drug-delivery catheter. The company is moving from clinical development into commercial sales, and quarterly revenue grew quickly in 2026 while the Phase III TIGeR-PaC study nears completion. Financing risk and the Nasdaq listing requirement remain important for investors and readers of this profile.
SWOT
Strengths
- The RenovoCath device has FDA clearance and a clinical usage history across many procedures, which lowers regulatory risk for standalone sales.
- The company holds issued and pending patents covering the TAMP platform and the device.
- Quarterly revenue growth and repeat orders show real demand from cancer centers.
Weaknesses
- The company has repeated net losses and a large accumulated deficit, without a clear path to profitability.
- The commercial track record is short, and market estimates are internal and not independently verified.
- Dependence on external financing is high, and the lack of a consolidated credit line limits flexibility.
Opportunities
- Expansion into other solid tumors could open a market much larger than the initial pancreatic one.
- TIGeR-PaC results, if favorable, could support an approval application for IAG.
- Converting study sites into commercial customers could add revenue in the second half of the year.
Threats
- If final TIGeR-PaC results miss their goals, development of IAG could be halted.
- Delisting risk from Nasdaq could reduce liquidity and the ability to attract capital.
- Competition from new pancreatic cancer treatments could reduce interest in the local delivery approach.
Risks
- Financing and going concernhigh
The company has stated it may need additional capital and that without financing it might not be able to continue operations 1.
- Nasdaq listinghigh
The company did not meet the minimum bid price requirement and could be delisted if it does not remedy this, which would affect liquidity 1.
- TIGeR-PaC resultshigh
An unfavorable result in the Phase III study could delay or stop development of IAG.
- Unverified market estimatesmedium
Market size rests on internal assumptions, and the estimates could prove inaccurate for a recently launched commercial model 1.
- Volatile revenuemedium
Quarterly revenue could vary significantly, and repeat orders might not be sustained.
Investment thesis
What would need to be true (bull case)
- Rapid growth in active centers and quarterly revenue suggests the commercial model could become sustainable if the pace holds.
- The TAMP platform has potential to extend to several solid tumors, which could substantially enlarge the addressable market.
- A favorable TIGeR-PaC result could open the path to IAG approval and to partnerships.
What would break the thesis
- The company has repeated net losses and may need new share issuances, diluting shareholders.
- Market estimates are internal, and a recent commercial model could fail to reach its active-center target.
- Delisting risk and dependence on a single clinical study could limit the company's ability to finance its plan.
What to watch
- Number of active commercial cancer centers against the annual targetQ4 2026
- RenovoCath revenue trend quarter over quarterQ3 2026
- Compliance with the Nasdaq minimum bid price requirement2026
- Final TIGeR-PaC study results2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
RenovoRx is a life sciences company developing targeted oncology therapies based on its TAMP platform, an intra-arterial chemotherapy delivery method using the RenovoCath device. The lead candidate, IAG (gemcitabine delivered via RenovoCath), is in the Phase III TIGeR-PaC study for locally advanced pancreatic cancer and is not yet approved for sale. Meanwhile the company sells RenovoCath as a standalone device, FDA-cleared, mainly to U.S. cancer centers, with revenue from this activity of $1.1 million in fiscal 2025 1.
The company began selling RenovoCath directly to hospitals and cancer centers in the fourth quarter of 2024, so the commercial model is still new and has a limited history. It reported 21 active commercial cancer centers at the end of the second quarter of 2026 and a target of 36 active centers by year-end 2026 2. Net loss was $11.2 million in fiscal 2025, and the accumulated deficit reached $61.4 million 1.
Core activity remains clinical research, while commercial expansion is supported by sales and marketing spending that rose substantially in 2026. In March 2026 the company completed a private placement of $10 million gross, which it describes as working capital for commercial expansion and clinical development 1.
Segments
Standalone RenovoCath commercial sales
RenovoCath is sold as a standalone device to U.S. cancer centers and hospitals, and quarterly revenue rose from $563 thousand in the first quarter to $909 thousand in the second quarter of 2026 23. The growth rests on active centers and repeat orders from existing customers.
IAG candidate and TIGeR-PaC study
IAG, intra-arterial gemcitabine via RenovoCath, is evaluated in the Phase III TIGeR-PaC study, which targets 114 randomized patients 1. Final results are expected in 2027, and until then IAG cannot be sold.
TAMP platform
The TAMP platform is designed as a general local drug-delivery method in solid tumors, not only in pancreatic cancer. The company reported first commercial use in sarcoma in August 2026, which could broaden the scope if clinical results are confirmed 2.
Market context
The company estimates the initial total market for RenovoCath as a standalone device could reach roughly $400 million in peak annual U.S. sales, based on an average selling price of $6,500-$8,500 per unit and about 7,000 target patients 12. It says extension to other solid tumors could exceed $1 billion in potential annual sales.
The market is focused on about 200 high-volume cancer centers, and a current CMS reimbursement code covers specialty pressure-mediated delivery catheters, which may encourage adoption. These figures are the company's internal estimates, not independently verified market data 1.
Trends
- Growth in active cancer centerstailwind
The number of active commercial centers rose from 16 to 21 within one quarter, and the company has 63 centers in its total commercial funnel 2. If this pace holds, revenue could accelerate in the second half of 2026.
- Interest in new pancreatic cancer therapiestailwind
The company argues that progress in pancreatic cancer therapy is complementary, since RenovoCath can also deliver new drugs 2. This support depends on the emergence of clinically accepted treatments.
- Capital and listing pressureheadwind
The company reported that it did not meet the Nasdaq minimum bid price requirement, and a failure to regain compliance could limit access to capital 1. Equity financing could dilute existing shareholders.
- Clinical adoption based on real-world usemixed
The device has been used in more than 750 procedures since its 2014 clearance, and repeat orders suggest physician satisfaction 3. The effect depends on long-term clinical results, which are not yet available.
Competitive position
The reviewed sources do not identify direct competitors to RenovoCath in detail, but the company mentions analogous pressure-mediated delivery catheters already on the market with comparable average prices 1. Standard systemic intravenous chemotherapy is also a competing alternative for physicians and patients.
For IAG, competition comes from standard systemic treatments and from other new therapies for pancreatic cancer that the company mentions as in development 2. The degree to which these therapies could replace or complement the TAMP approach cannot be assessed from the available sources.
- Existing pressure-mediated delivery catheters
The company considers them analogous to RenovoCath, but the sources do not name specific manufacturers.
- Standard intravenous chemotherapy
Systemic treatment is the main alternative, with greater side effects according to the company.
- Other new pancreatic cancer therapies
The company sees them as complementary, but they could become competitors for the same patient population.
- Manufacturing supplier Medical Murray
Not a direct competitor, but it is the third-party manufacturer of RenovoCath and affects costs.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report20 Aug 2026Other events
- Quarterly report13 Aug 2026
- Current report (amendment)13 Aug 2026Results of operations · Financial statements and exhibits
- Current report12 Aug 2026Financial statements and exhibits
- Current report04 Aug 2026Other events · Financial statements and exhibits
- Current report02 Jul 2026Delisting notice
- Current report30 Jun 2026Shareholder vote · Financial statements and exhibits
- Quarterly report14 May 2026
- Current report14 May 2026Results of operations · Financial statements and exhibits
- Proxy statement30 Apr 2026
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / RenovoRx, Inc. · 30 Mar 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / RenovoRx, Inc. · 13 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / RenovoRx, Inc. · 14 May 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.