RenovoRx rises after $10 mln private stock sale to fund cancer trial, device rollout

Shares of medical device maker RenovoRx RNXT.O rise 5.6% to $1.02 premarket

Co says it raised about $10 million in an oversubscribed private stock offering led by institutional investors, with participation from management.

Adds proceeds from the sale will support the commercial rollout of RenovoCath, an FDA-cleared device that delivers drugs directly to cancer tumors to limit side effects

Says funds will also back its late-stage study of an experimental combination therapy for pancreatic cancer, which is hard to treat

Co aims to reach operational breakeven and complete trial enrollment by mid-2026, with results expected in 2027

Shares up ~15% YTD vs. a ~35% fall in 2025