RenovoRx Announces Proposed Public Offering
RenovoRx (Nasdaq: RNXT) has announced a proposed underwritten public offering of common stock and pre-funded warrants. The company plans to use the proceeds for working capital and general corporate purposes, including the progression of its Phase III TIGeR-PaC study and the development of commercial sales and marketing activities for RenovoCath, their FDA-cleared delivery platform.
Titan Partners Group, a division of American Capital Partners, is acting as the sole bookrunner for the offering. The offering is being made through a shelf registration statement previously filed with the SEC. The final size, terms, and completion of the offering are subject to market conditions.
RenovoRx (Nasdaq: RNXT) ha annunciato una proposta di offerta pubblica sottoscritta di azioni ordinarie e di warrant pre-finanziati. L'azienda prevede di utilizzare i proventi per il capitale circolante e scopi aziendali generali, inclusa la progressione del suo studio di Fase III TIGeR-PaC e lo sviluppo di attività di vendita e marketing commerciale per RenovoCath, la loro piattaforma di somministrazione approvata dalla FDA.
Titan Partners Group, una divisione di American Capital Partners, sta agendo come unico gestore dell'offerta. L'offerta viene effettuata tramite una dichiarazione di registrazione a scaffale precedentemente depositata presso la SEC. Le dimensioni finali, i termini e il completamento dell'offerta sono soggetti alle condizioni del mercato.
RenovoRx (Nasdaq: RNXT) ha anunciado una oferta pública propuesta de acciones comunes y warrants prefinanciados. La compañía planea utilizar los ingresos para capital de trabajo y fines corporativos generales, incluyendo el avance de su estudio de Fase III TIGeR-PaC y el desarrollo de actividades comerciales de ventas y marketing para RenovoCath, su plataforma de entrega aprobada por la FDA.
Titan Partners Group, una división de American Capital Partners, actúa como el único administrador de la oferta. La oferta se realiza a través de una declaración de registro en estante previamente presentada a la SEC. El tamaño final, los términos y la finalización de la oferta están sujetos a las condiciones del mercado.
RenovoRx (Nasdaq: RNXT)는 일반 주식과 선불 워런트의 공모 제안을 발표했습니다. 이 회사는 자금을 운영 자본 및 일반 기업 목적으로 사용할 예정이며, 여기에는 3단계 TIGeR-PaC 연구의 진행 및 FDA 승인을 받은 배달 플랫폼 RenovoCath의 상업적 판매 및 마케팅 활동 개발이 포함됩니다.
American Capital Partners의 일부인 Titan Partners Group이 이번 제안의 단독 북러너 역할을 하고 있습니다. 이번 제안은 SEC에 이전에 제출된 선반 등록 성명을 통해 이루어집니다. 최종 규모, 조건 및 제안 완료는 시장 상황에 따라 달라질 수 있습니다.
RenovoRx (Nasdaq: RNXT) a annoncé une offre publique souscrite proposée d'actions ordinaires et de bons de souscription préfinancés. L'entreprise prévoit d'utiliser les résultats pour le fonds de roulement et des fins corporatives générales, y compris la progression de son étude de Phase III TIGeR-PaC et le développement d'activités commerciales de vente et de marketing pour RenovoCath, sa plateforme de livraison approuvée par la FDA.
Titan Partners Group, une division d'American Capital Partners, agit en tant que gestionnaire unique de l'offre. L'offre est réalisée par le biais d'une déclaration d'enregistrement par étagère précédemment déposée auprès de la SEC. La taille finale, les conditions et l'achèvement de l'offre sont soumis aux conditions du marché.
RenovoRx (Nasdaq: RNXT) hat ein vorgeschlagenes unterzeichnetes öffentliches Angebot für Stammaktien und vorfinanzierte Warrants bekannt gegeben. Das Unternehmen plant, die Erlöse für Working Capital und allgemeine Unternehmenszwecke zu verwenden, einschließlich der Fortführung seiner Phase III TIGeR-PaC-Studie und der Entwicklung von Vertriebs- und Marketingaktivitäten für RenovoCath, ihre von der FDA genehmigte Lieferplattform.
Titan Partners Group, eine Abteilung von American Capital Partners, fungiert als alleiniger Bookrunner für das Angebot. Das Angebot erfolgt über eine zuvor bei der SEC eingereichte Shelf-Registrierungsmitteilung. Die endgültige Größe, die Bedingungen und der Abschluss des Angebots unterliegen den Marktbedingungen.
- FDA-cleared RenovoCath platform ready for commercialization
- Ongoing Phase III TIGeR-PaC clinical trial progression
- Active shelf registration statement already in place
- Potential shareholder dilution through new share issuance
- Uncertain offering terms and completion timing
- Need for additional capital indicates cash burn concerns
Insights
This public offering announcement represents a significant financial development for RenovoRx, a company with a current market cap of
Several critical implications emerge from this announcement:
- The offering of both common stock and pre-funded warrants suggests a structured approach to attract different investor profiles, though it will likely result in dilution for existing shareholders
- The unspecified offering size indicates flexibility in gauging market demand, but also creates uncertainty around the extent of potential dilution
- The use of proceeds focuses on two key areas: clinical development and commercialization, suggesting a balanced approach between R&D and market penetration
The shelf registration (S-3) filed in November 2022 provides the legal framework for this offering, indicating this move was part of a longer-term financing strategy. The selection of Titan Partners Group as sole bookrunner, while not a major investment bank, aligns with the company's current market capitalization and suggests a targeted approach to institutional investors.
From a strategic perspective, this capital raise appears necessary to maintain operational momentum, particularly for the Phase III study progression. However, investors should monitor the final terms and pricing of the offering, as these will be important indicators of market confidence and the true cost of capital for RenovoRx.
RenovoRx intends to use the net proceeds received from the offering for working capital and general corporate purposes, including continued progression of its Phase III TIGeR-PaC study and the continued development and execution of commercial sales and marketing activities for RenovoCath as a standalone device.
Titan Partners Group, a division of American Capital Partners, is acting as the sole bookrunner for the offering.
The offering is being made by RenovoRx pursuant to a shelf registration statement on Form S-3 (File No. 333-268302) previously filed with the Securities and Exchange Commission (the “SEC”) on November 10, 2022, which became effective on November 21, 2022. The offering is being made only by means of a preliminary prospectus supplement and the accompanying base prospectus that form a part of the registration statement. A preliminary prospectus supplement and the accompany base prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying base prospectus, and when available, copies of the final prospectus supplement and the accompanying base prospectus relating to the offering, may be obtained by contacting Titan Partners Group LLC, a division of American Capital Partners, LLC, 4 World Trade Center, 29th Floor,
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
About RenovoRx, Inc.
RenovoRx is a life sciences company developing novel targeted oncology therapies and commercializing RenovoCath®, a novel,
RenovoRx’s Phase III lead product candidate is a novel oncology drug-device combination product. It is being investigated under a
The intra-arterial infusion of gemcitabine by the RenovoCath catheter is currently under investigation and has not been approved for commercial sale. RenovoCath with gemcitabine received Orphan Drug Designation for pancreatic cancer and bile duct cancer, which provides 7 years of market exclusivity upon NDA approval by the FDA.
RenovoRx is also engaged in implementing commercialization strategies utilizing its TAMP technology and FDA-cleared RenovoCath delivery system as a stand-alone device. In December 2024, RenovoRx announced the receipt of its first commercial purchase orders for RenovoCath devices. Additionally, over ten medical institutions have initiated the process for RenovoCath purchase orders. To meet and satisfy the anticipated demand, RenovoRx will continue to actively explore further revenue-generating activity either on its own or in tandem with a medical device commercial partner.
For more information, visit www.renovorx.com. Follow RenovoRx on Facebook, LinkedIn, and X.
Cautionary Note Regarding Forward-Looking Statements
This press release and statements of the Company’s management made in connection therewith and at the investor conference described herein contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, including but not limited to statements regarding the timing, size and completion of the proposed public offering as well as the expected use of proceeds related thereto. Statements that are not purely historical are forward-looking statements. The forward-looking statements contained herein are based upon the Company’s current expectations and beliefs regarding future events, many of which, by their nature, are inherently uncertain, outside of the Company’s control and involve assumptions that may never materialize or may prove to be incorrect. These may include estimates, projections and statements relating to the Company’s research and development plans, intellectual property development, clinical trials, the Company’s therapy platform, business plans, financing plans, objectives and expected operating results, which are based on current expectations and assumptions that are subject to known and unknown risks and uncertainties that may cause actual results to differ materially and adversely from those expressed or implied by these forward-looking statements. These statements may be identified using words such as “may,” “expects,” “plans,” “aims,” “anticipates,” “believes,” “forecasts,” “estimates,” “intends,” and “potential,” or the negative of these terms or other comparable terminology regarding RenovoRx’s expectations strategy, plans or intentions, although not all forward-looking statements contain these words. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, that could cause actual events to differ materially from those projected or indicated by such statements, including, among other things: RenovoRx’s ability to complete the offering on the proposed terms, or at all, changes in market conditions, and RenovoRx’s expectations related to the use of proceeds from the proposed offering. Information regarding the foregoing and additional risks may be found in the section entitled “Risk Factors” in documents that the Company files from time to time with the SEC.
Forward-looking statements included herein are made as of the date hereof, and RenovoRx does not undertake any obligation to update publicly such forward-looking statements to reflect subsequent events or circumstances, except as required by law.
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KCSA Strategic Communications
Valter Pinto or Jack Perkins
T:212-896-1254
RenovoRX@KCSA.com
Source: RenovoRx, Inc.
FAQ
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