Financial Data and Key Metrics Changes - For Q1 2025, the company reported revenue of approximately $200,000 from commercial sales of its FDA cleared RenovoCast device, exceeding initial expectations [22] - Research and development expenses increased to $1,700,000 from $1,300,000 in Q1 2024, primarily due to higher employee compensation and increased manufacturing costs [22] - Selling, general and administrative expenses rose to approximately $1,600,000 from $1,200,000 in the prior year period, attributed to increased personnel costs and professional fees [22] - As of March 31, 2025, the company had $14,600,000 in cash and cash equivalents [23] Business Line Data and Key Metrics Changes - The company began generating revenue from commercial sales of Renovocath in Q1 2025, with purchase orders received ahead of schedule [12] - Revenue from Renovocath exceeded internal expectations, with approximately $200,000 generated in the first quarter [13] - The company anticipates sequential quarter-over-quarter revenue growth for Renovocath for the foreseeable future [13] Market Data and Key Metrics Changes - The initial total addressable market for Renovocath is estimated at $400,000,000 in peak U.S. annual sales opportunity [14] - The company expects expansion opportunities across other cancer indications, potentially leading to a multi-billion dollar U.S. total addressable market over time [15] Company Strategy and Development Direction - The company is focusing on implementing a commercial strategy for Renovocath alongside ongoing clinical trials [12] - Plans to target the top 200 high-volume treatment centers with a small yet focused commercial team [16] - The company is exploring partnerships with larger organizations that have established sales forces to enhance market penetration [16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the potential of the Renovocath device and the positive reception from the physician community [10] - The company aims to achieve full enrollment in the TIGER PACT trial during 2025, with ongoing efforts to target additional clinical sites [18] - Management highlighted the importance of the new U.S. patent for the TANF therapy platform in strengthening the company's competitive position [20] Other Important Information - The company announced that members of the management team and board purchased approximately 143,000 shares of Renovo Rx stock, signaling confidence in the company's future [20] - The company is actively exploring international market opportunities, particularly in Europe and Asia, but is currently focused on the U.S. market [29][30] Q&A Session Summary Question: Plans for Renovocast in international markets - The company is looking into obtaining a CE mark for future international markets, with high demand noted in Europe and Asia [29][30] Question: Plans for partnering with cancer centers - The company is considering both hiring a small sales force and partnering with strategic companies that have existing distribution channels to target top cancer centers [32]