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RenovoRx
(NASDAQ:RNXT)
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Rating:52Neutral
Price Target:
$0.93
▼(-7.10% Downside)
Action:Reiterated
Date:07/03/26
The score is held back primarily by weak financial performance—large ongoing losses and persistent cash burn despite improving revenue and strong gross margins. Offsetting this, the earnings call was constructive (reiterated revenue guidance, accelerating commercial footprint, near-complete Phase III enrollment, and added cash runway), while technicals are neutral and valuation support is limited due to negative earnings and no dividend. Listing-compliance risk adds a modest additional overhang.
Positive Factors
High Gross Margins
RenovoRx’s very high gross margins (85.1% in Q1; ~79% TTM) indicate attractive unit economics for the RenovoCath procedure. Durable margin strength supports scalable profitability as procedures ramp, gives pricing flexibility, and improves the chance of operating leverage as commercial volumes grow.
Negative Factors
Persistent Cash Burn
RNXT runs material negative operating and free cash flow (~-$11.3M and -$11.2M TTM), which creates ongoing funding dependence and dilution risk. Persistently large burn relative to current revenue constrains discretionary investment, forcing management to prioritize financing over longer-term scaling initiatives.
Read all positive and negative factors
Positive Factors
Negative Factors
High Gross Margins
RenovoRx’s very high gross margins (85.1% in Q1; ~79% TTM) indicate attractive unit economics for the RenovoCath procedure. Durable margin strength supports scalable profitability as procedures ramp, gives pricing flexibility, and improves the chance of operating leverage as commercial volumes grow.
Read all positive factors
RenovoRx (RNXT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$38.98M
Dividend YieldN/A
Average Volume (3M)288.82K
Price to Earnings (P/E)―
Beta (1Y)0.74
Revenue Growth520.42%
EPS Growth16.12%
CountryUS
Employees17
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.34
Shares Outstanding45,052,708
10 Day Avg. Volume236,040
30 Day Avg. Volume288,821
Financial Highlights & Ratios
PEG Ratio0.19
Price to Book (P/B)5.47
Price to Sales (P/S)26.43
P/FCF Ratio-2.70
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$7.00Price Target Upside600.00% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)-0.3
Revenue Forecast (FY)$3.21M
RenovoRx Business Overview & Revenue Model
Company Description
RenovoRx, Inc. is a clinical-stage biopharmaceutical firm dedicated to developing therapies for solid tumor malignancies. The company's primary investigational therapy, RenovoGem, is an innovative drug and device combination. It integrates intra-a...
How the Company Makes Money
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RenovoRx Earnings Call Summary
Earnings Call Date:May 14, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 13, 2026
Earnings Call Sentiment Positive
The call presented strong commercial momentum and meaningful operational milestones: record quarterly revenue with very high gross margins, rapid expansion of active centers and a sizable prospect pipeline, near-completion of the pivotal Phase III trial, and a successful $10M private placement providing runway into H2 2027. Offsetting factors include still-modest absolute revenue, sizable operating expenses (R&D $1.2M; SG&A ~$2.7M), remaining trial and event targets to achieve, and timing/convertibility risk of pipeline centers. Overall the positive execution on commercial scaling, healthy margins, and a reinforced balance sheet materially outweigh the near-term risks described.Positive Updates
Record Quarterly Revenue and Rapid Growth
Q1 2026 revenue of $563,000 was the company's highest quarterly revenue to date, representing ~136% quarter-over-quarter growth vs Q4 2025 ($238,000) and ~186% year-over-year growth vs Q1 2025 ($197,000). Q1 2026 revenue accounts for approximately 51% of total 2025 revenue ($1.1M).
Negative Updates
Significant Operating Expenses
Q1 2026 R&D expenses were $1.2M and selling, general & administrative expenses were approximately $2.7M. Management noted SG&A was slightly above projections while R&D was below expectations, reflecting timing variances but leaving sizable near-term operating burn.
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Q1-2026 Updates
Positive
Negative
Record Quarterly Revenue and Rapid Growth
Q1 2026 revenue of $563,000 was the company's highest quarterly revenue to date, representing ~136% quarter-over-quarter growth vs Q4 2025 ($238,000) and ~186% year-over-year growth vs Q1 2025 ($197,000). Q1 2026 revenue accounts for approximately 51% of total 2025 revenue ($1.1M).
Read all positive updates
Company Guidance
RenovoRx reiterated full-year 2026 revenue guidance of $3.0–$4.0 million and said Q2 revenue is expected to exceed Q1 2026 ($563,000), which was the company’s highest quarter to date — up ~136% sequentially from Q4 2025 ($238,000) and above Q1 2025 ($197,000) — with Q1 2026 alone representing ~51% of 2025 revenue ($1.1M); Q1 gross profit was $479,000 (gross margin 85.1%), R&D spend was $1.2M (including a $141,000 TIGeR‑PaC study receipt), SG&A was ~ $2.7M, and the company closed an oversubscribed private placement raising ~$10M leaving cash and equivalents of ~$12.4M as of March 31, 2026 (runway into 2H 2027 as it works toward cash‑flow positive); commercial metrics include 16 active centers (up from 8 at year‑end 2025 and 5 at start of 2025), 32 additional centers in evaluation for a total pipeline of 48 (a ~4x near‑term pipeline vs Q1 2025) and a target of 36 active centers by year‑end, while the Phase III TIGeR‑PaC trial has randomized 106 of 114 patients (~93%) with 12 in induction, 74 of 86 required events observed, enrollment expected to close by end of June 2026, and final data anticipated mid‑to‑late 2027.RenovoRx Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
57
Neutral
Cash Flow
21
Negative
| Breakdown | TTM | Dec 2025 | Mar 2025 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.49M | 1.12M | 43.00K | 0.00 | 0.00 | 0.00 |
| Gross Profit | 1.17M | 796.00K | 43.00K | 0.00 | 0.00 | 0.00 |
| EBITDA | -12.27M | -11.17M | -8.81M | -10.12M | -9.83M | -5.48M |
| Net Income | -12.27M | -11.17M | -8.81M | -10.23M | -9.89M | -6.32M |
Balance Sheet | ||||||
| Total Assets | 13.96M | 8.10M | 8.12M | 1.47M | 7.26M | 16.29M |
| Cash, Cash Equivalents and Short-Term Investments | 12.36M | 7.02M | 7.15M | 1.17M | 6.44M | 15.19M |
| Total Debt | 186.00K | 212.00K | 278.00K | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 2.70M | 2.67M | 3.64M | 4.47M | 1.10M | 938.00K |
| Stockholders Equity | 11.27M | 5.42M | 4.48M | -3.00M | 6.16M | 15.35M |
Cash Flow | ||||||
| Free Cash Flow | -11.30M | -10.97M | -9.14M | -10.26M | -8.81M | -5.93M |
| Operating Cash Flow | -11.30M | -10.97M | -9.13M | -10.26M | -8.81M | -5.92M |
| Investing Cash Flow | 0.00 | -2.00K | -12.00K | 2.03M | -2.03M | -15.00K |
| Financing Cash Flow | 9.08M | 10.85M | 15.12M | 5.01M | 42.00K | 19.33M |
RenovoRx Technical Analysis
Negative
1.00
Price Trends
0.89
Negative
0.92
Negative
0.96
Negative
Market Momentum
-0.01
Positive
43.11
Neutral
31.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RNXT, the sentiment is Negative. The current price of 1 is above the 20-day moving average (MA) of 0.92, above the 50-day MA of 0.89, and above the 200-day MA of 0.96, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 43.11 is Neutral, neither overbought nor oversold. The STOCH value of 31.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for RNXT.
RenovoRx Risk Analysis
RenovoRx disclosed 73 risk factors in its most recent earnings report. RenovoRx reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
RenovoRx Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
53 Neutral | $455.40M | -6.66 | -22.51% | ― | 1199.64% | 30.81% | |
52 Neutral | $38.98M | -2.57 | -138.61% | ― | 520.42% | 16.12% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $155.63M | -1.13 | -59.89% | ― | ― | 44.08% | |
46 Neutral | $24.79M | -0.24 | -191.12% | ― | ― | 38.53% | |
45 Neutral | $40.20M | -4.37 | -12.66% | ― | ― | 43.67% | |
44 Neutral | $24.18M | -1.55 | 9999.00% | ― | ― | ― |
* Healthcare Sector Average
RNXT
RenovoRx
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RenovoRx Corporate Events
Delistings and Listing ChangesRegulatory Filings and Compliance
RenovoRx Granted Extended Nasdaq Compliance Period Amid Listing Risk
Negative
Jul 2, 2026
On December 31, 2025, RenovoRx received a deficiency notice from Nasdaq stating that its common stock had fallen below the $1.00 minimum bid price required for continued listing on The Nasdaq Capital Market. The company was initially given until J...
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and ComplianceShareholder Meetings
RenovoRx Stockholders Approve Directors and Equity Plan
Positive
Jun 30, 2026
On June 30, 2026, RenovoRx, Inc. held its 2026 annual meeting of stockholders, where approximately 22,825,465 voting shares were present or represented by proxy, constituting a quorum for corporate action. Stockholders elected seven directors, inc...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.