Swayampakula Ramakanth, an analyst from H.C. Wainwright, has initiated a new Buy rating on RenovoRx (RNXT).
Swayampakula Ramakanth has given his Buy rating due to a combination of factors related to RenovoRx’s innovative approach to treating locally advanced pancreatic cancer (LAPC). The company’s lead product, RenovoCath, utilizes a unique catheter system designed to deliver chemotherapy directly to the tumor, potentially increasing drug concentration at the target site while reducing systemic exposure and associated side effects. This method is currently being tested in a Phase 3 clinical trial, which has shown promising interim results with improved overall survival rates compared to standard treatments.
Furthermore, the market potential for RenovoRx’s technology is significant, with an estimated addressable market of $740 million globally. If successful, the company could see substantial revenue growth, from $4 million in 2025 to $253 million by 2034. Given the current undervaluation of RenovoRx’s stock and the unmet need for more effective and safer treatment options for LAPC, Ramakanth considers the stock to be an attractive investment opportunity.