RenovoRx initiated with a Buy at Ascendiant

Ascendiant initiated coverage of RenovoRx with a Buy rating and $8 price target. The clinical-stage pharmaceutical company is developing novel therapies to treat, cure, and prevent cancer based on the company’s Trans-Arterial Micro-Perfusion, or TAMP, local drug delivery platform. RenovoRx’s lead drug therapy candidate, RenovoGem, is an oncology drug-device combination product currently in a Phase 3 registration trial to treat Locally Advanced Pancreatic Cancer, or LAPC, and the company also plans to evaluate RenovoGem as a potential therapy in indications including bile duct cancer, non-small cell lung cancer, uterine tumors, glioblastoma, and sarcoma, the analyst tells investors.