RenovoRx, identified by the ticker RNXT, has unveiled plans to scale up the production of its FDA-cleared RenovoCath device. This move comes in response to growing demand among oncologists and interventional radiologists for advanced solutions in the targeted delivery of diagnostic and therapeutic agents.
The RenovoCath is a catheter-based device, specifically designed to enhance precision in drug delivery directly to tumor sites, thereby improving treatment efficacy. To handle this increased production, RenovoRx continues its partnership with Medical Murray Inc., the primary manufacturer located in North Barrington, Illinois.
This strategic decision underscores RenovoRx's commitment to advancing cancer treatment technologies. By increasing the availability of the RenovoCath device, the company aims to support healthcare providers with cutting-edge tools to improve patient outcomes.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 3 analysts, the average target price for RenovoRx Inc (RNXT, Financial) is $5.33 with a high estimate of $9.00 and a low estimate of $3.00. The average target implies an upside of 492.59% from the current price of $0.90. More detailed estimate data can be found on the RenovoRx Inc (RNXT) Forecast page.
Based on the consensus recommendation from 4 brokerage firms, RenovoRx Inc's (RNXT, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
