RenovoRx (NASDAQ: RNXT), a biopharmaceutical company and innovator in targeted cancer therapy, has closed its underwritten initial public offering of 1,850,000 units at a public offering price per unit of $9.00. According to the update, RenovoRx offered all of the units, with each unit consisting of one share of common stock and one warrant to purchase one share of common stock. The warrants have a $10.80 exercise price per share and are exercisable for a period of five years after the issuance date. In addition, RenovoRx granted the underwriters a 45-day option to purchase up to an additional 277,500 shares of its common stock, and/or warrants to purchase up to an additional 277,500 shares of its common stock, at the initial public offering price, less underwriting discounts and commissions. RenovoRx’s common stock was approved for listing on The Nasdaq Capital Market under the ticker symbol RNXT in connection with the offering, which closed on Aug. 30, 2021. Roth Capital Partners acted as sole book-running manager for the offering.
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About RenovoRx Inc.
RenovoRx, a biopharmaceutical company headquartered in Silicon Valley, California, has developed a therapy platform targeting difficult-to-treat tumors. Targeted therapy via the proprietary RenovoRx Trans-Arterial Micro-Perfusion (“RenovoTAMP”) platform safely and without transmission to non-targeted areas, is the primary focus. RenovoRx’s portfolio includes seven U.S. patents for its technology. The company also has secured two separate Orphan Drug Designations from the FDA for intra-arterial gemcitabine including pancreatic and bile duct cancers. The RenovoTAMP therapy is being studied in the phase III TIGeR-PaC trial for the treatment of locally advanced pancreatic cancer. For more information, please visit www.RenovoRX.com.
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