RenovoRx Secures \$10 Million in Oversubscribed Private Placement to Accelerate Commercialization and Clinical Milestones

Mountain View, Calif., March 18, 2026 – RenovoRx, Inc. (Nasdaq: RNXT), a life sciences company specializing in targeted oncology therapies and the commercialization of its FDA-cleared drug-delivery device RenovoCath®, has announced a significant and potentially price-moving development: the execution of definitive securities purchase agreements for an oversubscribed private placement expected to raise approximately \$10 million in gross proceeds, before offering expenses.

Key Details of the Private Placement

• Oversubscribed Offering: The financing round was anchored by several leading, fundamentals-driven life science institutional investors, highlighting strong investor interest and confidence in the company’s strategy and future prospects.
• Management & Board Participation: Notably, RenovoRx’s executive management team and Board of Directors are also participating in the private placement, a strong signal of insider confidence and alignment with shareholder interests.
• Placement Agent: Konik Capital Partners, LLC, a division of T.R. Winston & Company, served as the sole placement agent for the deal.

Terms of the Offering: Structure and Pricing

• Securities Issued: Approximately 10,638,869 shares of common stock (including pre-funded warrants for larger investors) will be issued at \$0.938 per share. Each share comes with a milestone-based warrant to purchase 0.5 shares of common stock, for a total of about 5,319,434 warrants (50% warrant coverage).
• Executive & Board Pricing: To comply with Nasdaq rules, participating executives and board members will pay a higher price of \$1.029 per share and associated warrant.
• Warrant Details: The milestone warrants have an exercise price of \$1.751 per share (a 100% premium to the offering price), and \$1.933 for company insiders. Warrants are exercisable immediately and expire at the earlier of (i) 30 days after RenovoRx achieves \$1.5 million in gross product revenue in a fiscal quarter, or (ii) March 30, 2029.
• Regulatory Matters: The securities sold are unregistered but the company has committed to file a registration statement for their resale.

Use of Proceeds: Commercial and Clinical Acceleration

• Commercialization: The proceeds are expected to accelerate the commercialization efforts for RenovoCath® in 2026, aiming to drive revenue growth, reduce cash burn, and move toward breakeven operations.
• Clinical Milestones: Funds will be used to advance the pivotal Phase III TIGeR-PaC clinical trial in locally advanced pancreatic cancer to full enrollment by mid-2026, with results anticipated in 2027.

Background on RenovoCath® and RenovoRx’s Pipeline

• RenovoCath®: An FDA-cleared device for local drug delivery, vessel occlusion, and chemotherapeutic drug infusion. In 2025, the company generated approximately \$900,000 in revenues from device sales, with repeat orders from high-volume National Cancer Institute centers and growing customer adoption.
• TAMP™ Platform: RenovoRx’s patented Trans-Arterial Micro-Perfusion technology enables targeted drug delivery to tumor sites, potentially minimizing systemic toxicity and improving efficacy.
• Drug-Device Combination: The company is also developing intra-arterial gemcitabine (IAG) delivered via RenovoCath®. IAG is in a pivotal Phase III trial (TIGeR-PaC) and has received FDA Orphan Drug Designation for pancreatic and bile duct cancers, potentially granting 7 years of market exclusivity upon approval.

Investor Takeaways & Price-Sensitive Highlights

• Strong Institutional and Insider Participation: The oversubscription, institutional backing, and insider investment are clear indicators of confidence in RenovoRx’s near-term commercial trajectory and long-term potential. This is a positive signal for shareholders and may influence investor sentiment and share price.
• Milestone Warrants Tied to Revenue Growth: The structure of milestone warrants (with a high exercise price and tied to revenue milestones) aligns new capital with future performance, effectively incentivizing the company to achieve key revenue objectives. If the company attains \$1.5 million in quarterly gross product revenue, this could trigger early warrant exercise and additional funding.
• Approaching Key Clinical and Commercial Milestones: Full enrollment of the pivotal Phase III trial by mid-2026 and anticipated results in 2027 could both serve as significant catalysts for the company’s valuation, should trial outcomes be positive.
• Revenue Momentum: The company has begun commercial sales of RenovoCath® and is expanding its customer base, including prestigious cancer treatment centers. Successful commercialization and additional revenues could positively impact the company’s financials and share price.

Forward-Looking Statements & Risks

Investors should be aware that forward-looking statements in the company’s communication (regarding the closing of the private placement, use of proceeds, commercial and clinical milestones, and other future events) are subject to risks and uncertainties. These include, but are not limited to, the success of commercialization efforts, clinical trial results, regulatory approvals, the ability to raise additional capital, competition, and other business risks. Actual results may differ materially from those anticipated.

Disclaimer

This article is for informational purposes only and does not constitute investment advice. Forward-looking statements are subject to risks and uncertainties as described above and in the company’s public filings. Investors should conduct their own due diligence and consult with their financial adviser before making investment decisions. The author and publisher assume no responsibility for any actions taken based on the information provided herein.

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