IPO - RenovoRx, Inc.

Form Type: 424B5

Filing Date: 2025-02-10

Corporate Action: Ipo

Type: New

Accession Number: 000149315225005557

Filing Summary: RenovoRx, Inc. is offering 11,523,810 shares of its common stock at a public offering price of $1.05 per share, aiming to raise approximately $12.1 million before expenses. The company emphasizes that its common stock, listed on The Nasdaq Capital Market under the symbol ‘RNXT’, had a market value of about $36.3 million based on shares outstanding as of January 21, 2025. This offering comes under a shelf registration process allowing sales of up to $50 million in various securities. The funds will be used for ongoing operations, including commercialization efforts for their FDA-cleared RenovoCath delivery system, a local drug-delivery system targeting oncology therapies. RenovoRx anticipates initial revenues from RenovoCath commercialization in 2025, with an estimated peak annual U.S. sales opportunity of $400 million. They are conducting an ongoing Phase III clinical trial (TIGeR-PaC) for a novel oncology drug-device combination product targeting locally advanced pancreatic cancer. The company highlights the innovative features of the TAMP therapy platform and recently received significant interest from medical institutions for RenovoCath purchase orders. The underwriter for this offering is Titan Partners Group, expected to deliver securities against payment on February 10, 2025.

Form Type: 8-K

Filing Date: 2025-02-10

Corporate Action: Ipo

Type: New

Accession Number: 000149315225005559

Filing Summary: On February 6, 2025, RenovoRx, Inc. entered into an underwriting agreement with Titan Partners Group LLC for a public offering of 11,523,810 shares of common stock priced at $1.05 per share, expected to close around February 10, 2025. The estimated net proceeds from the offering are approximately $10.9 million after deductions. The offering is conducted under a prospectus supplement related to the company’s effective shelf registration statement initially filed on November 10, 2022. Additionally, the company will issue warrants to purchase 576,191 shares of common stock to the underwriter at an exercise price of $1.21 per share. The underwriting agreement includes a 45-day standstill provision prohibiting the company from issuing new securities, with customary representations and indemnifications. Two press releases were issued on February 6, 2025, announcing the commencement and pricing of the offering.

Form Type: 424B5

Filing Date: 2025-02-06

Corporate Action: Ipo

Type: New

Accession Number: 000149315225005201

Filing Summary: RenovoRx, Inc. has filed a preliminary prospectus supplement related to an offering of common stock and pre-funded warrants, highlighting their development of targeted oncology therapies. The offering includes shares priced at a value to be determined, and allows certain purchasers to acquire pre-funded warrants to maintain beneficial ownership below 4.99%. The company anticipates generating revenue from the commercialization of its RenovoCath delivery system, which is FDA-cleared. They emphasize a significant market opportunity for their products, particularly their new TAMP therapy platform designed for precise drug delivery to tumors. The ongoing Phase III clinical trial for their lead oncology product candidate is investigating intra-arterial gemcitabine administration for treating locally advanced pancreatic cancer. They underline previous positive results in clinical studies, including higher overall survival rates compared to standard systemic treatments. Furthermore, RenovoRx is examining the potential for their therapies to minimize toxicities and enhance efficacy.