Maxim Group analyst Jason McCarthy maintained a Buy rating on RenovoRx (RNXT – Research Report) yesterday and set a price target of $4.00.
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Jason McCarthy has given his Buy rating due to a combination of factors related to RenovoRx’s innovative approach and promising clinical developments. The company’s RenovoTAMP drug delivery platform, which allows for targeted delivery of therapeutics directly to tumors, is a significant advancement over traditional systemic drug administration. This method could potentially improve treatment outcomes for patients with difficult-to-access tumors, such as those in pancreatic cancer.
Furthermore, the ongoing P3 TIGeR-PaC study, which compares RenovoGem to standard chemotherapy, has shown encouraging results in its first interim readout, with a notable improvement in median overall survival. The anticipation of the second interim analysis in the third quarter of 2025 adds to the positive outlook. Additionally, the company’s financial position, with sufficient cash to sustain operations into 2026, supports its continued progress towards full enrollment and commercialization of RenovoGem by 2027. These factors collectively contribute to McCarthy’s optimistic view and Buy rating for RenovoRx.
According to TipRanks, McCarthy is an analyst with an average return of -21.7% and a 26.41% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group, Actinium Pharmaceuticals, and Gain Therapeutics.