RenovoRx Inc. (RNXT) stock prices surged by 19.14% some time after market trading commenced on September 7th 2021. This brought the price per share up to USD$9.43 early on in the trading day.
RenovoCath Delivery System Approval
September 7th 2021 saw RNXT stock announce having received a new 510(k) clearance for its proprietary RenovoCath Delivery System by the United States Food and Drug Administration. The RenovoCath Delivery System is the device component of the company’s initial product, RenovoGem. The drug/device combination used in the company’s Trans-Arterial Micro-Perfusion (RenovoTAMP) therapy platform is a dual-balloon infusion catheter. It facilitates the delivery of chemotherapy directly to tumors via arteries. The new design allows for a more targeted delivery of therapy, resulting in an effective treatment with minimal side effects.
Scope of RenovoTAMP Therapy Platform
The novel RenovoTAMP therapy platform isolated wherever the disease is located, thereby enabling the delivery of the optimal dose of targeted chemotherapy to the tumor location. The recent clearance from the U.S FDA will serve to further improve the technology’s targeted delivery, with a focus on improving patient survival while mitigating side effects for oncology patients. The company’s novel therapy platform is designed to deliver established therapies for the localized treatment of solid cancer tumors. It has the potential to allow physicians to isolate the anatomy and micro=perfuse targeted tissue with small molecule chemotherapy.
RNXT Stock’s TIGeR-PaC Clinical Trial
August 15th 2021 saw the company’s Phase 3 TIGeR-PaC clinical trial reach 44% patient enrollment. The randomized study makes use of the RenovoTAMP platform to evaluate RenovoGem and is designed to treat pancreatic cancer. The study is currently in the process of enrolling locally advanced, pancreatic cancer patients. Clinical studies thus far have shown chemotherapy delivered with the RenovoTAMP platform was linked to more than half the patients living for more than 2 years. Standard-of-care has typically resulted in pancreatic cancer patients surviving 12 to 15 months from the date of their diagnosis. The study has 30 active clinical sites, and is expected to involved roughly 200 participants in the U.S and Europe.
Future Outlook for RNXT Stock
The company reported a strong quarter, most recently consolidated by the U.S FDA’s approval of the company’s RenovoCath Delivery System. RNXT stock is poised to capitalize on the opportunities afforded to it as it pushes for the accelerated commercialization and proliferation of its flagship technology. Current and potential investors are hopeful that management will be able to facilitate significant and sustained increases in shareholder value over the long term.
