See why now may be the best time to start your research on RenovoRx Inc. (Nasdaq: RNXT).
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Pancreatic cancer, often detected at an advanced stage, poses a formidable challenge for patients and doctors alike. Among these stages, stage 4, or metastatic pancreatic cancer, is particularly grim as it signifies the cancer’s spread to distant parts of the body, making it difficult to treat effectively.
Stage 4 pancreatic cancer, also known as metastatic pancreatic cancer, is marked by cancer cells spreading to vital organs. Survival rates at this stage are disheartening, ranging from 2% to 12%, with factors like age influencing outcomes.
Given the limited chances of a cure, the focus shifts to palliative care, aiming to alleviate pain, improve comfort, and address emotional needs, ultimately enhancing patients’ quality of life.
Despite the challenges, medical research strives to offer hope.
RenovoRx, Inc. (Nasdaq: RNXT) stands at the forefront, pioneering treatments like the Trans-Arterial Micro-Perfusion (TAMP™) therapy platform. Though currently focused on locally advanced pancreatic cancer, RenovoRx’s dedication may herald hope for stage 4 patients in the future.
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Keep reading to see why RenovoRx, Inc. (Nasdaq: RNXT) needs to be at the top of your daily watch-list.
Generally speaking, when it comes to Wall Street, a target is a range at which an analyst believes a stock to be fairly valued relative to its projected and historical earnings. When an analyst assigns a target for a stock, they generally expect the stock price to rise or fall accordingly.(12) According to financial news portal TipRanks, RenovoRx, Inc. (Nasdaq: RNXT) received a $14 target from Scott Henry of I-Banking Firm, Roth MKM. (31) This would indicate an upside potential of over 1,438% from the company's 52-week low of $.91 set on 10/2/2023.(2)
Market participants typically consider a float of 10-to-20 million shares as a low float. Some larger corporations have very high floats in the billions.(3) According to FinViz.com RenovoRx, Inc. (Nasdaq: RNXT) has less than 8.9M shares available in float as of 11/14/2023.(4) A low-float stock can make significant moves due to volatility from so few shares being available (3), so this could be an interesting situation to watch closely.
The Trans-Arterial Micro-Perfusion (TAMP™) therapy platform, currently in a Phase III clinical trial for pancreatic cancer, represents a potential game-changer in cancer treatment. The platform's precision in delivering targeted therapy, as demonstrated by positive interim analysis results, indicates its potential to enhance treatment outcomes and reduce adverse events. RenovoRx, Inc. (Nasdaq: RNXT) is at the forefront of this innovative approach. (29)
RNXT)’s collaboration with Imugene Ltd to explore oncolytic virus therapy using the TAMP™ platform not only validates its technology but also expands its application from chemotherapy to immunotherapy. This strategic partnership opens doors to innovative treatment approaches and positions RenovoRx, Inc. (Nasdaq: RNXT) as a player in the evolving field of cancer immunotherapy. (29)
In terms of financial performance, the company's commitment to advancing cancer research while maintaining fiscal responsibility is evident. With a cash position of $3.2 million as of September 30, 2023, and improved net loss figures, RenovoRx, Inc. (Nasdaq: RNXT) has demonstrated its ability to manage expenses efficiently, instilling confidence in its long-term prospects.(29)
The successful interim analysis of the Phase III TIGeR-PaC clinical trial, which aims for a 6-month Overall Survival (OS) benefit, is a significant milestone. The Data Monitoring Committee's recommendation to continue the trial indicates the potential effectiveness of RenovoRx, Inc. (Nasdaq: RNXT)’s TAMP™ platform in treating pancreatic cancer. Industry stakeholders may see value in the company's progress toward meeting primary and secondary endpoints.(29)
CEO Shaun Bagai's commitment to improving cancer care and delivering novel targeted combination therapies is evident in RenovoRx, Inc. (Nasdaq: RNXT)’s mission. His leadership and the company's focus on transformative solutions position RenovoRx as a player with a vision to alter the current paradigm of oncology care.(29)
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Generally speaking, when it comes to Wall Street, a target is a range at which an analyst believes a stock to be fairly valued relative to its projected and historical earnings. When an analyst raises their target for a stock, they generally expect the stock price to rise.(12)
A target is an analyst’s projection of a security’s future range. Targets can pertain to all types of securities, from complex financial products to stocks and bonds. When setting a stock’s target, an analyst is trying to determine what the stock is worth and what the range could be in 12 or 18 months. Ultimately, targets depend on the valuation of the company that’s issuing the stock.(12)
Analysts generally publish their targets in research reports on specific companies, along with their buy, sell, and hold recommendations for the company’s stock. Stock targets are often quoted in the financial news media.(12)
And this time, Benzinga.com(30) and TipRanks(31) are both indicating that RenovoRx, Inc. (Nasdaq: RNXT) has received analyst coverage from I-Banking Firm, Roth MKM. TipRanks is reporting that RenovoRx, Inc. (Nasdaq: RNXT) has been assigned a $14.00 target by analyst Scott Henry of Roth MKM. This would indicate an upside potential of over 1,438% from RenovoRx, Inc. (Nasdaq: RNXT)’s 52-week low of $.91 set on 10/2/2023, according to Barchart.com’s pricing history.(2)
Looking at RenovoRx, Inc.’s (Nasdaq: RNXT)’s chart above you can see what a 1,438% move would look like…
That isn’t to say a move like that is certain, but an analyst’s target is something important to take into account.
Then taking a deeper dive into StockCharts.com (below), you’ll see the following moving averages:
Keep reading to see why RenovoRx, Inc.’s (Nasdaq: RNXT) deserves a top spot on your daily watch list.
Low float stocks refer to the securities that remain after a company’s stock has been issued to its controlling investors — meaning there are relatively few shares for the public to buy.(3)
Market participants typically consider a float of 10-to-20 million shares as a low float. Some larger corporations have very high floats in the billions.(3)
Companies with a low float frequently have a large portion of their equity held by controlling investors such as directors and employees, which leaves only a tiny percentage of the stock available for public trading. (3)
That limited supply can cause dramatic price swings if demand changes quickly.(3)
Because low-float stocks have fewer shares available, market participants may have difficulty finding shares available.(3)
Low float stocks have the potential to present significant swings as active market participants take notice.(3)
RenovoRx, Inc. (Nasdaq: RNXT) has less than 8.9M shares available in its float (as of 11/14/2023) according to FinViz.com.(4) A low-float stock can make significant moves due to volatility from so few shares being available(3), so this could be one interesting situation to watch closely.
RenovoRx, Inc. (Nasdaq: RNXT) is also considered a nano-cap. In general, nano-cap companies have market capitalizations of less than $50 million.(5) Because nano-cap stocks are significantly smaller than mid-cap or large-cap companies, they have a higher potential to change valuation quickly.(6)
As of 11/14/2023, RenovoRx, Inc. (Nasdaq: RNXT) has a market cap of approximately $11.23M according to MarketWatch.com.(22)
Which is why things could get very interesting and also why you need to start your research on RenovoRx, Inc. (Nasdaq: RNXT).
RenovoRx, Inc. (Nasdaq: RNXT) Strengthens Its Intellectual Property (IP) Portfolio with Their 8th US Patent. bolstering the 7 years of Post-Approval Market Exclusivity That they Currently have with their Lead Oncology Product Candidate, RenovoGem™, Through the Orphan Drug Designation granted by the FDA for their first two indications…(7)
RenovoRx, Inc. (Nasdaq: RNXT) has strengthened its Intellectual Property (IP) portfolio with the issuance of its eighth US patent. This patent, numbered 11,541,211, encompasses methods for treating cholangiocarcinoma (bile duct cancer) by selectively delivering therapeutic agents into targeted areas of the bile duct. RenovoRx’s CEO, Shaun Bagai, emphasized the significance of this new addition to their IP portfolio, which now comprises eight US method and device patents, one EU delivery system patent, and eight pending patents across the US, EU, and Asia.(7)
This latest patent also reinforces the company’s seven years of post-approval market exclusivity for their lead oncology product candidate, RenovoGem™, through FDA-granted Orphan Drug designation for their first two indications: Locally Advanced Pancreatic Cancer (LAPC) and Extrahepatic Cholangiocarcinoma (eCCA) or Bile Duct Cancer.
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The company continues to make significant strides in its mission to revolutionize cancer treatment, notably through its pioneering Trans-Arterial Micro-Perfusion (TAMP™) platform and strategic collaborations.
TAMP™ Therapy Platform: A Potential Game-Changer (29)
At the heart of RenovoRx’s recent successes lies its proprietary TAMP™ therapy platform. The TAMP™ platform, currently undergoing a Phase III clinical trial for the treatment of Pancreatic Cancer, has generated excitement within the medical community. Notably, an interim analysis conducted in March 2023 received a favorable recommendation from the Data Monitoring Committee, paving the way for the trial’s continuation.
The Phase III TIGeR-PaC clinical trial prespecifies a primary endpoint of a 6-month Overall Survival (OS) benefit, accompanied by secondary endpoints focused on reducing adverse events compared to standard care. Dr. Michael J. Pishvaian, Principal Investigator of TIGeR-PaC, showcased the potential of the TAMP™ therapy platform at the Global Summit on Gastrointestinal Malignancies. His presentation highlighted the platform’s precision in delivering targeted cancer treatment, promising increased safety, tolerance, and efficacy.
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RenovoRx’s strategic collaboration with Imugene Ltd (ASX: IMU) underscores its commitment to broadening the scope of cancer care. This partnership not only validates the TAMP™ platform but also extends its use from chemotherapy to immunotherapy. By exploring the delivery of oncolytic virus therapy using TAMP™, RenovoRx aims to enhance treatment options and redefine cancer care paradigms.
RenovoRx’s financial results for the third quarter ended September 30, 2023, highlight its dedication to advancing cancer research and development while maintaining fiscal responsibility:
Cash Position: As of September 30, 2023, RenovoRx held $3.2 million in cash and cash equivalents, ensuring the company’s ability to continue its vital work.
R&D Expenses: Research and development expenses totaled $1.6 million for the quarter, reflecting ongoing Phase III clinical trial costs and increased employee-related benefits expenses. This investment in research underscores RenovoRx’s commitment to pushing the boundaries of cancer treatment.
G&A Expenses: General and administrative expenses remained stable at $1.3 million for the third quarter of 2023 compared to the same period last year. While employee and related benefits costs increased, this was offset by decreased insurance expenses and a reallocation of administrative expenses to research and development.
Shares Outstanding: As of September 30, 2023, RenovoRx had 10,693,080 shares of common stock outstanding.
See why now may be the best time to start your research on RenovoRx Inc. (Nasdaq: RNXT).
Generally speaking, when it comes to Wall Street, a target is a range at which an analyst believes a stock to be fairly valued relative to its projected and historical earnings. When an analyst assigns a target for a stock, they generally expect the stock price to rise or fall accordingly.(12) According to financial news portal TipRanks, RenovoRx, Inc. (Nasdaq: RNXT) received a $14 target from Scott Henry of I-Banking Firm, Roth MKM. (31) This would indicate an upside potential of over 1,438% from the company's 52-week low of $.91 set on 10/2/2023. (2)
Market participants typically consider a float of 10-to-20 million shares as a low float. Some larger corporations have very high floats in the billions.(3) According to FinViz.com RenovoRx, Inc. (Nasdaq: RNXT) has less than 8.9M shares available in float as of 11/14/2023.(4) A low-float stock can make significant moves due to volatility from so few shares being available(3), so this could be an interesting situation to watch closely.
The Trans-Arterial Micro-Perfusion (TAMP™) therapy platform, currently in a Phase III clinical trial for pancreatic cancer, represents a potential game-changer in cancer treatment. The platform's precision in delivering targeted therapy, as demonstrated by positive interim analysis results, indicates its potential to enhance treatment outcomes and reduce adverse events. RenovoRx, Inc. (Nasdaq: RNXT) is at the forefront of this innovative approach. (29)
RNXT)’s collaboration with Imugene Ltd to explore oncolytic virus therapy using the TAMP™ platform not only validates its technology but also expands its application from chemotherapy to immunotherapy. This strategic partnership opens doors to innovative treatment approaches and positions RenovoRx, Inc. (Nasdaq: RNXT) as a player in the evolving field of cancer immunotherapy. (29)
In terms of financial performance, the company's commitment to advancing cancer research while maintaining fiscal responsibility is evident. With a cash position of $3.2 million as of September 30, 2023, and improved net loss figures, RenovoRx, Inc. (Nasdaq: RNXT) has demonstrated its ability to manage expenses efficiently, instilling confidence in its long-term prospects. (29)
The successful interim analysis of the Phase III TIGeR-PaC clinical trial, which aims for a 6-month Overall Survival (OS) benefit, is a significant milestone. The Data Monitoring Committee's recommendation to continue the trial indicates the potential effectiveness of RenovoRx, Inc. (Nasdaq: RNXT)’s TAMP™ platform in treating pancreatic cancer. Industry stakeholders may see value in the company's progress toward meeting primary and secondary endpoints. (29)
CEO Shaun Bagai's commitment to improving cancer care and delivering novel targeted combination therapies is evident in RenovoRx, Inc. (Nasdaq: RNXT)’s mission. His leadership and the company's focus on transformative solutions position RenovoRx as a player with a vision to alter the current paradigm of oncology care. (29)
Source 1: https://www.maximgrp.com/wp-content/uploads/2023/01/Research-Universe_1.13.23.pdf
Source 2: https://www.barchart.com/stocks/quotes/RNXT/price-history/historical
Source 3: https://www.sofi.com/learn/content/understanding-low-float-stocks/
Source 4: https://finviz.com/quote.ashx?t=RNXT&p=d
Source 5: https://www.investopedia.com/terms/n/nanocap.asp
Source 6: https://www.benzinga.com/money/best-nano-cap-stocks
Source 7: https://finance.yahoo.com/news/renovorx-strengthens-intellectual-property-ip-133000702.html
Source 8: https://finance.yahoo.com/news/renovorx-announces-acceptance-four-clinical-133000761.html
Source 9: https://d1io3yog0oux5.cloudfront.net/_d7299d6f72a9b4207e890ff7fb18b17c/renovorx/db/2223/20908/pdf/Non-con+RNXT+IR+Deck_2023-06-22.pdf
Source 10: https://pbs.twimg.com/media/EDrTVVFXYAA5EFj.jpg
Source 11: https://www.forbes.com/advisor/wp-content/uploads/2021/04/nyse.jpg
Source 12: https://www.investopedia.com/terms/p/pricetarget.asp
Source 13: https://www.maximgrp.com/team_members/jason-mccarthy-ph-d/
Source 14: https://www.maximgrp.com/about-us/
Source 15: https://www.linkedin.com/posts/maxim-group_maxim-group-2022-year-end-review-activity-7019388769157967872-lTRd/?originalSubdomain=gr
Source 16: https://schrts.co/zAGgvMtJ
Source 17: https://www.thebalancemoney.com/triangle-chart-patterns-and-day-trading-strategies-4111224
Source 18: https://investmentu.com/low-float-stocks/
Source 19: https://www.raps.org/RAPS/media/news-images/news-images/FDA-Logo.jpg
Source 20: https://renovorx.com/wp-content/uploads/2021/05/square-catheter.jpg
Source 21: https://pancan.org/news/five-year-pancreatic-cancer-survival-rate-increases-to-12/
Source 22: https://www.marketwatch.com/investing/stock/rnxt?mod=search_symbol
Source 23: https://schrts.co/RptJryQN
Source 24: https://www.otcmarkets.com/stock/RNXT/overview (as of 11/14/2023)
Source 25: https://finance.yahoo.com/news/renovorx-initiates-patient-enrollment-university-123000346.html
Source 26: https://renovorx.com/wp-content/uploads/2019/11/NewBeautyImage-1024×576.jpg
Source 27: https://www.investopedia.com/terms/n/nanocap.asp
Source 28: https://www.benzinga.com/money/best-nano-cap-stocks
Source 29: https://finance.yahoo.com/news/renovorx-reports-third-quarter-2023-133000876.html
Source 30: https://www.benzinga.com/quote/RNXT/analyst-ratings
Source 31: https://www.tipranks.com/stocks/rnxt/forecast
Source 32: https://schrts.co/bQGcGGDq
Source 33: https://d1io3yog0oux5.cloudfront.net/_7432738ba51df07b35ca397236ce22b0/renovorx/db/2223/20930/pdf/RNXT+IR+Deck_2023-11-06-2023-2.pdf
Source 34: https://www.verywellhealth.com/stage-4-pancreatic-cancer-5093642
Source 35: https://www.roswellpark.org/sites/default/files/2021-07/adobestock_181431116.jpg
Source 36: https://seekingalpha.com/symbol/RNXT
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