RenovoRx Reports Full Year 2025 Financial Results and Provides Business Update

Core Insights - RenovoRx generated $1.1 million in revenue from RenovoCath in its first full year of commercialization, indicating strong initial adoption by physicians and demand in active cancer centers [2][3][15] - The company has established a solid commercial infrastructure and plans to scale operations in 2026, focusing on high-volume cancer centers [2][10] - The ongoing Phase III TIGeR-PaC trial is on track for full enrollment by mid-2026, with final data expected in 2027 [1][7][8] Financial Performance - For the year ended December 31, 2025, RenovoRx reported revenue of $1.1 million, a significant increase from $43,000 in 2024 [15][25] - The net loss for 2025 was approximately $11.2 million, compared to $8.8 million in the previous year [19][25] - Cash and cash equivalents were approximately $7.0 million as of December 31, 2025, and increased to $13 million following a private placement in March 2026 [16][14] Commercialization and Market Strategy - As of early 2026, 12 cancer centers are actively using RenovoCath, with an additional 21 centers evaluating or preparing for activation, tripling the near-term pipeline compared to early 2025 [2][5] - The company estimates a total addressable market (TAM) of approximately $400 million for RenovoCath as a stand-alone device, with potential for multi-billion-dollar expansion into additional solid tumor indications [6][29] - The company is observing repeat ordering patterns and increased procedural utilization, reinforcing confidence in physician satisfaction and the potential for recurring revenue [5][4] Clinical Development - The TIGeR-PaC trial is evaluating intra-arterial delivery of gemcitabine via RenovoCath for locally advanced pancreatic cancer, with 104 patients randomized as of March 24, 2026 [7][8] - The trial has reached a key milestone with the completion of a second interim analysis, and the independent Data Monitoring Committee recommended continuing the study without modification [8][9] - The company aims to transition 17 cancer centers involved in the TIGeR-PaC trial to commercial customers for RenovoCath in the second half of 2026 [2][7] Leadership and Advisory Board - In February 2026, RenovoRx strengthened its executive leadership team with the appointment of Mark Voll as Chief Financial Officer, bringing over 30 years of financial leadership experience [11] - The company established the RenovoCath Medical Advisory Board to provide strategic clinical guidance, comprising leading interventional oncology experts [12]