RenovoRx Down 21%; Gains Erased Amid Stock and Warrant Sale

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By Josh Beckerman

Shares of RenovoRx Inc. were higher for most of the trading day following news of favorable interim clinical trial data but declined after the company announced a registered direct offering.

The stock was recently down 21% to $3.10. RenovoRx said an institutional investor agreed to buy 1.56 million shares for $3.21 each. RenovoRx said it would issue 1.95 million warrants in a concurrent private placement.

RenovoRx said an interim analysis of a Phase III trial of RenovoGem therapy for pancreatic cancer patients shows a 6-month median overall survival benefit and fewer side effects than systemic chemotherapy.

Write to Josh Beckerman at [email protected]

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