Mountain View, Calif.– RenovoRx Inc. (Nasdaq: RNXT), a life sciences company specializing in targeted oncology therapies, announced Tuesday it is ramping up U.S. production of its FDA-cleared RenovoCath® catheter device to meet growing demand among oncologists and interventional radiologists.
The device, which enables targeted delivery of diagnostic and therapeutic agents, is manufactured by Medical Murray Inc. at its facility in North Barrington, Illinois. The company highlighted that RenovoCath is proudly made in America and expects production to scale alongside increasing market interest.
“As we anticipated, we are seeing growing demand for our proprietary RenovoCath device,” said Shaun Bagai, CEO of RenovoRx. “We expect first-quarter 2025 revenue from RenovoCath to reach the low six-figure range, with continued quarter-over-quarter growth through the year.”
RenovoRx estimates its initial total addressable market for RenovoCath at approximately $400 million in peak annual U.S. sales. The company believes this can be captured over time with a lean sales force or through strategic distribution partnerships—keeping operational costs low and paving the way for cash flow-positive operations.
In a show of internal confidence, RenovoRx also disclosed that during the company’s most recent open trading window, members of its management team and Board of Directors collectively purchased 143,145 shares of company stock on the open market at an average price of $0.8346 per share.
“I, along with other members of our team and board, have increased our equity positions in RenovoRx,” Bagai said. “We are excited about the long-term value proposition and believe in the Company’s growth trajectory.”
