RenovoRx Executes Definitive Subscription Agreement With Accredited Investors For $11.1M At Market Private Placement
Portfolio Pulse from Benzinga Newsdesk
RenovoRx has finalized a subscription agreement with accredited investors for an $11.1M private placement at market price, extending its cash runway into 2026. This financing will support the Phase III TIGeR-PaC trial and expand the TAMP clinical development pipeline into more cancer indications.
April 08, 2024 | 12:36 pm
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RenovoRx's $11.1M financing extends its cash runway into 2026, supporting the TIGeR-PaC trial and TAMP pipeline expansion.
The $11.1M financing is significant for RenovoRx, ensuring the company's operational stability into 2026. This financial security allows for the continuation and completion of the pivotal Phase III TIGeR-PaC trial, which is critical for the company's future. Additionally, the funding enables the expansion of the TAMP clinical development pipeline into additional cancer indications, potentially increasing the company's market reach and value. The direct financial injection and its intended use for critical development projects make this news highly relevant and important for investors in RNXT, likely leading to a positive short-term impact on its stock price.
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