RenovoRx, Inc. reported its financial results for the second quarter of 2025, revealing a significant increase in revenue as the company continues to commercialize its RenovoCath device. For the three months ended June 30, 2025, RenovoRx generated $422,000 in revenue, compared to no revenue in the same period last year. This marks the company's second full quarter of revenue generation from RenovoCath sales, which began in late 2024. The total revenue for the six months ended June 30, 2025, reached $619,000, reflecting the company's ongoing efforts to penetrate the market for its FDA-cleared local drug delivery device targeting difficult-to-treat cancers.
Despite the revenue growth, RenovoRx reported a net loss of $2.9 million for the second quarter, an increase from a net loss of $2.4 million in the same quarter of 2024. For the first half of 2025, the net loss was $5.3 million, compared to $3.5 million for the same period in 2024. The increase in losses is attributed to higher operating expenses, which rose to $2.9 million in the second quarter, down slightly from $3.0 million in the prior year. Research and development expenses accounted for $1.4 million, while selling, general, and administrative expenses totaled $1.5 million.
Operationally, RenovoRx has made strides in expanding its customer base, with notable traction among high-volume cancer treatment centers. The company has also initiated a post-marketing registry study called PanTheR, aimed at evaluating the long-term safety and effectiveness of RenovoCath in treating solid tumors. This study is expected to further enhance the company's market presence and provide valuable data for future clinical trials. As of June 30, 2025, RenovoRx had cash and cash equivalents of $12.3 million, a significant increase from $7.2 million at the end of 2024, primarily due to successful equity financing efforts.
Looking ahead, RenovoRx anticipates continued revenue growth from RenovoCath sales, driven by increasing demand and the establishment of a dedicated sales team. The company plans to hire additional personnel to support its commercialization efforts and is exploring potential collaborations to accelerate sales. However, RenovoRx acknowledges the ongoing risks associated with its clinical development programs and the need for additional capital to sustain operations and fund future growth initiatives. The company remains focused on achieving regulatory approval for its lead product candidate, IAG, which is currently undergoing a pivotal Phase III clinical trial for the treatment of locally advanced pancreatic cancer.
About RenovoRx, Inc.
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