We Think RenovoRx (NASDAQ:RNXT) Needs To Drive Business Growth Carefully [Yahoo! Finance]
RenovoRx, Inc. (RNXT)
Company Research
Source: Yahoo! Finance
Given this risk, we thought we'd take a look at whether RenovoRx NASDAQ:RNXT ) shareholders should be worried about its cash burn. In this report, we will consider the company's annual negative free cash flow, henceforth referring to it as the 'cash burn'. The first step is to compare its cash burn with its cash reserves, to give us its 'cash runway'. How Long Is RenovoRx's Cash Runway? A cash runway is defined as the length of time it would take a company to run out of money if it kept spending at its current rate of cash burn. In June 2024, RenovoRx had US$12m in cash, and was debt-free. Looking at the last year, the company burnt through US$9.3m. So it had a cash runway of approximately 15 months from June 2024. That's not too bad, but it's fair to say the end of the cash runway is in sight, unless cash burn reduces drastically. You can see how its cash balance has changed over time in the image below. How Is RenovoRx's Cash Burn Changing Over Time? Because RenovoRx isn't
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RNXT
News
- RenovoRx Increases Production of FDA-Cleared RenovoCath® Delivery System in Response to Strong Demand from Oncology and Interventional Radiology PhysiciansGlobeNewswire
- RenovoRx Announces Presentation at Symposium on Clinical Interventional Oncology Highlighting TAMP™ for Targeted Treatment of Locally Advanced Pancreatic CancerGlobeNewswire
- RenovoRx, Inc. (NASDAQ: RNXT) had its price target raised by analysts at Ascendiant Capital Markets from $8.00 to $8.25. They now have a "buy" rating on the stock.MarketBeat
- MyTomorrows partners with pancreatic cancer pressure group to drive trials [Yahoo! Finance]Yahoo! Finance
- RenovoRx CEO Shaun Bagai to Present at H.C. Wainwright's 26th Annual Global Investment Conference on September 9, 2024 in New York [Yahoo! Finance]Yahoo! Finance
RNXT
Earnings
- 11/13/23 - Beat
RNXT
Analyst Actions
- 9/12/24 - Ascendiant Capital
RNXT
Sec Filings
- 10/2/24 - Form 4
- 10/2/24 - Form 4
- 10/2/24 - Form 4
- RNXT's page on the SEC website