--- title: "RenovoRx prices 11,523,810-share offering at $1.05 for $12,100,001 in gross" url: "https://aibio.space/news/renovorx-prices-11-523-810-share-offering-1-05-12-100-001-gross/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2025-02-06" section: "Financings" tickers: "NASDAQ:RNXT" source: "https://www.sec.gov/Archives/edgar/data/1574094/000149315225005201/form424b5.htm" summary: "RenovoRx sold 11,523,810 shares at $1.05, below the $1.46 last sale on February 6, 2025, with Titan Partners Group as sole bookrunner. The company held abo" --- By the aibio.space news desk. Sources - [RenovoRx, Inc. 424B5 (2025-02-06)](https://www.sec.gov/Archives/edgar/data/1574094/000149315225005201/form424b5.htm) - [RenovoRx, Inc. 424B5 (2025-02-10)](https://www.sec.gov/Archives/edgar/data/1574094/000149315225005557/form424b5.htm) - [RenovoRx, Inc. 8-K (2025-02-10)](https://www.sec.gov/Archives/edgar/data/1574094/000149315225005559/ex99-1.htm) [RNXT](https://aibio.space/companies/renovorx/) 2025-02-06 # RenovoRx prices 11,523,810-share offering at $1.05 for $12,100,001 in gross proceeds Tickers [RNXT](https://aibio.space/companies/renovorx/) RenovoRx sold 11,523,810 shares at $1.05, below the $1.46 last sale on February 6, 2025, with Titan Partners Group as sole bookrunner. The company held about $9.6 million in cash and short-term securities at September 30, 2024, and its prospectus carries a going concern paragraph. ## Key facts - **Company**: RenovoRx, Inc. (NASDAQ: RNXT) - **News type**: Financings - **Primary source**: [RenovoRx, Inc. 424B5 (2025-02-06)](https://www.sec.gov/Archives/edgar/data/1574094/000149315225005201/form424b5.htm) *Two people shaking hands across a table. Photo: Kristin Hardwick, CC0, via StockSnap. The picture shows the field, not the companies named.* RenovoRx, Inc. (Nasdaq: [RNXT](https://aibio.space/companies/renovorx/)) is selling 11,523,810 shares of common stock at $1.05 per share in an underwritten public offering, according to its final prospectus supplement dated February 6, 2025. Gross proceeds total $12,100,001. Titan Partners Group, a division of American Capital Partners, is sole bookrunner. The offering is made under a shelf registration statement on Form S-3, File No. 333-268302, which was declared effective on November 21, 2022. The final terms cover common stock only. An earlier preliminary supplement had also offered pre-funded warrants. The price is below the last reported sale price of $1.46 on February 6, 2025. ## Underwriter pay and warrants After underwriting discounts and commissions of $847,000, proceeds before expenses are $11,253,001. Titan receives a 7.0% commission, a non-accountable expense allowance of 0.5% of gross proceeds, and underwriter warrants for an aggregate of 5% of the shares sold, or up to 576,191 shares. Those warrants carry an exercise price of $1.21, which is 115% of the offering price, become exercisable six months after the prospectus date and run for five years. The company also agreed to reimburse the underwriter's out-of-pocket expenses up to $125,000. Ellenoff Grossman & Schole LLP of New York is counsel to RenovoRx, and Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. of New York is counsel to the underwriter. While the public float stays below $75.0 million, RenovoRx may not sell more than one-third of its float in a public primary offering in any 12-month period. The prospectus puts non-affiliate market value at $36,322,196, based on a price of $1.54 on January 21, 2025. ## Cash and the going concern paragraph As of September 30, 2024, RenovoRx had cash, cash equivalents and short-term marketable securities of approximately $9.6 million. The prospectus says recurring operating losses mean the company must raise substantial additional capital. The auditor's report from Frank, Rimerman & Co. LLP carries an explanatory paragraph about the company's ability to continue as a going concern, and the financial statements at September 30, 2024 were prepared on a going concern basis. The company says the offering proceeds will go to working capital and general corporate purposes. Those include its Phase III TIGeR-PaC study and the sale and marketing of RenovoCath as a standalone device. ## What TIGeR-PaC has shown so far RenovoCath is a delivery device, and RenovoRx is developing a drug-device combination for locally advanced pancreatic cancer, known as LAPC. TIGeR-PaC is a randomized, multicenter Phase III trial that compares intra-arterial gemcitabine delivered with RenovoCath against the standard of care, intravenous gemcitabine with nab-paclitaxel, after stereotactic body radiation therapy, or SBRT. The prospectus says the first interim analysis, at the 26th event, was completed in March 2023 at the 26th of the specified events, meaning patient deaths, and the Data Monitoring Committee recommended the study continue. It reports a 6-month median overall survival benefit, described as nearly a 60% improvement, against the control arm. It also says patients had more than a 65% reduction in adverse events with RenovoCath and gemcitabine. A 6-month benefit from an interim look is an early signal, and the prospectus gives no final survival result. In December 2021 the company amended the protocol and statistical analysis plan. The amendment limits enrollment to SBRT patients, adds a second interim analysis, sets the randomized total at 114 patients with 86 deaths, and changes the study's power from 90% to 80%. The company says the change to 80% should shorten the study and cut costs. The prospectus also says the company has not discussed the amendment with the FDA, although the changes have been submitted to it, and it gives no assurance the FDA will agree. ## The gap in the record The prospectus's 27.1-month median overall survival figure comes from 9 patients who had radiation first and then RenovoCath with gemcitabine, drawn from 35 pooled patients in two earlier studies. It puts expected survival under standard care at 12.0 to 18.8 months, based on earlier large randomized trials. Those are the company's comparisons, not TIGeR-PaC results. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story RNXT RenovoRx, Inc. NASDAQ ยท United States Open the starter desk ## More in Financings Financings ### [INmune Bio raises $4.50 million in registered direct offering with warrants](https://aibio.space/news/inmune-bio-raises-4-50-million-registered-direct-offering-warrants/) Oct 29, 2026 Financings ### [Lexeo Therapeutics files $300 million shelf registration](https://aibio.space/news/lexeo-therapeutics-files-300-million-shelf-registration/) Oct 29, 2026 Financings ### [ProKidney files $650 million shelf with $200 million Jefferies sales program](https://aibio.space/news/prokidney-files-650-million-shelf-200-million-jefferies-sales-program/) Oct 29, 2026 --- Source page: https://aibio.space/news/renovorx-prices-11-523-810-share-offering-1-05-12-100-001-gross/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "RenovoRx prices 11,523,810-share offering at $1.05 for $12,100,001 in gross", 2025-02-06, https://aibio.space/news/renovorx-prices-11-523-810-share-offering-1-05-12-100-001-gross/