{"url_path":"/sec/rnxt/10-q/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-14","source_url":"https://www.sec.gov/Archives/edgar/data/1574094/0001193125-26-224100-index.html","accession_number":"0001193125-26-224100","cik":"0001574094","ticker":"RNXT","issuer_name":"RenovoRx, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1574094/0001193125-26-224100-index.html","primary_entity_key":"0001574094","primary_entity_name":"RenovoRx, 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STATES\n\nSECURITIES AND EXCHANGE COMMISSION\n\nWASHINGTON, D.C. 20549\n\nFORM 10-Q\n\n(Mark One)\n\n☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the quarterly period ended March 31, 2026\n\nOR\n\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the transition period from ________ to ________\n\nCommission File Number: 001-40738\n\nRENOVORX, INC.\n\n(Exact name of registrant as specified in its charter)\n\n \n\nDelaware\n\n \n\n27-1448452\n\n(State or other jurisdiction of\n\nincorporation or organization)\n\n \n\n(I.R.S. Employer\n\nIdentification No.)\n\n \n\n2570 West El Camino Real, Suite 640\n\n \n\n \n\nMountain View, California\n\n \n\n94040\n\n(Address of principal executive offices)\n\n \n\n(Zip Code)\n\n \n\n(650) 284-4433\n\n(Registrant’s telephone number, including area code)\n\nN/A\n\n(Former name, former address and former fiscal year, if changed since last report)\n\nSecurities registered pursuant to Section 12(b) of the Act:\n\n \n\nTitle of each class\n\nTrading Symbol(s)\n\nName of each exchange on which registered\n\nCommon Stock, par value $0.0001 per share\n\nRNXT\n\nThe Nasdaq Capital Market\n\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐\n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\n \n\nLarge accelerated filer ☐\n\nAccelerated filer ☐\n\nNon-accelerated filer ☒\n\nSmaller reporting company ☒\n\nEmerging growth company ☒\n\n \n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒\n\nAs of May 7, 2026, the registrant had 45,099,133 shares of common stock, $0.0001 par value per share, outstanding.\n\n \n\n \n\n \n\nTABLE OF CONTENTS\n\n \n\nCautionary Note Regarding Forward-Looking Statements\n\n \n\n \n\n \n\n[PART I. FINANCIAL INFORMATION](#part_i_financial_information)\n\n1\n\n \n\n \n\n[Item 1. Financial Statements](#item_1_financial_statements)\n\n1\n\n \n\n \n\n[Condensed Balance Sheets as of March 31, 2026, and December 31, 2025](#condensed_balance_sheets)\n\n1\n\n \n\n \n\n[Condensed Statements of Operations for the three months ended March 31, 2026, and 2025](#condensed_statements_of_operations)\n\n2\n\n \n\n \n\n[Condensed Statements of Stockholders’ Equity for the three months ended March 31, 2026, and 2025](#condensed_statements_convertible)\n\n3\n\n \n\n \n\n[Condensed Statements of Cash Flows for the three months ended March 31, 2026, and 2025](#condensed_statements_cash_flows)\n\n5\n\n \n\n \n\n[Notes to the Unaudited Condensed Interim Financial Statements](#notes_to_the_unaudited_condensed_interim)\n\n6\n\n \n\n \n\n[Item 2: Management’s Discussion and Analysis of Financial Condition and Results of Operations](#item_2_management_discussion)\n\n19\n\n \n\n \n\n[Item 3. Quantitative and Qualitative Disclosures About Market Risk](#item_3_quantitative_and_qualitative)\n\n30\n\n \n\n \n\n[Item 4. Controls and Procedures](#item_4_controls_and_procedures)\n\n31\n\n \n\n \n\n[PART II. OTHER INFORMATION](#part_ii_other_information)\n\n31\n\n \n\n \n\n[Item 1. Legal Proceedings](#item_1_legal_proceedings)\n\n31\n\n \n\n \n\n[Item 1A. Risk Factors](#item_1a_risk_factors)\n\n31\n\n \n\n \n\n[Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](#item_2_unregistered_sales_of_equity)\n\n34\n\n \n\n \n\n[Item 3. Defaults Upon Senior Securities](#item_3_defaults_upon_senior_securities)\n\n35\n\n \n\n \n\n[Item 4. Mine Safety Disclosures](#item_4_mine_safety_disclosures)\n\n35\n\n \n\n \n\n[Item 5. Other Information](#item_5_other_information)\n\n35\n\n \n\n \n\n[Item 6. Exhibits](#item_6_exhibits)\n\n36\n\n \n\n \n\n[SIGNATURES](#signatures)\n\n38\n\n \n\n \n\n \n\nCautionary Note Regarding Forward-Looking Statements\n\nThis Quarterly Report on Form 10-Q (this “Report”), particularly in the sections captioned “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), that are based on our management’s beliefs and assumptions and on information currently available to our management. Forward-looking statements are inherently subject to significant risks and uncertainties, some of which cannot be predicted or quantified and some of which are beyond our control. All statements other than present and historical facts and conditions contained in this Report, including statements regarding our future revenues, our ongoing clinical trial and other results of operations and financial position, business strategy, plans and our objectives for future operations, are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “anticipate,” “believe,” “can,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “objective,” \"goal,\" \"aim,\" “ongoing,” “plan,” “potential,” “predict,” “project,” \"future,\" “should,” “will,” “would,” “in the future” or the negative or derivations of these terms or other comparable terminology. Actual events or results may differ from those expressed in these forward-looking statements, and these differences may be significant and adverse. Forward-looking statements include, but are not limited to, statements about:\n\n•\nthe sufficiency of our existing cash, cash equivalents, and investments to fund our future operating expenses and capital expenditure requirements;\n\n•\nour estimates or expectations regarding future revenues, expenses, potential for cashflow positive operations, anticipated capital requirements to fund our future operating expenses, and our need for additional financing;\n\n•\nour anticipated financial or operational performance;\n\n•\nour anticipated use of our existing cash, cash equivalents, and investments;\n\n•\nthe ability of our clinical trials to demonstrate safety and efficacy of our product candidates, and other positive clinical or related results;\n\n•\nthe progress and focus of our current and future clinical trials;\n\n•\nprojections for enrollment of our clinical trials and our expectations relating to the timing of the provision of updates on, public announcements (if any) for interim or top line data from, and completion of enrollment for and final results from our clinical trials (notably our ongoing Phase III TIGeR-PaC trial as well as investigator-initiated trials);\n\n•\nour continued reliance on third parties to conduct clinical trials of our product candidates, and for the manufacture of our product candidates;\n\n•\nthe beneficial characteristics, safety, efficacy, and therapeutic effects of our product candidates;\n\n•\nour ability to advance product candidates into and successfully complete clinical trials;\n\n•\nour ability to further develop and expand our therapy platform, both to use different chemotherapeutic agents, to include new indications, or to market our catheter on a standalone basis;\n\n•\nour ability to obtain and maintain regulatory approval of our product candidates and the timing or likelihood of regulatory filings and approvals, including our expectation to seek special designations, such as orphan drug designation, for our product candidates for various diseases;\n\n•\nexisting regulations and regulatory developments in the United States and other jurisdictions;\n\n•\nour plans relating to commercializing our product candidates, if approved, including the geographic areas of focus and our potential and ability to successfully commercialize our product candidates and generate revenue;\n\n \n\n \n\n•\nthe implementation of our strategic plans for our business and product candidates;\n\n•\nthe expected potential benefits of strategic collaborations with third parties and our ability to attract collaborators with relevant and complementary expertise;\n\n•\nour estimates of the number of patients in the United States who suffer from the diseases we target;\n\n•\nour estimates of potential addressable market opportunities and our ability to successfully penetrate addressable markets;\n\n•\nthe success of competing therapies or devices that are or may become available;\n\n•\ndevelopments relating to our competitors and our industry, including competing product candidates, therapies and devices;\n\n•\nour plans relating to the further development and manufacturing of our devices and product candidates, including for additional indications which we may pursue;\n\n•\nour plans and ability to obtain or protect intellectual property rights, including extensions of existing patent terms where available;\n\n•\nthe scope of protection we are able to establish and maintain for intellectual property rights, including our therapy platform and product candidates;\n\n•\nour ability to successfully negotiate and enter into agreements with distribution, strategic and corporate partners;\n\n•\nour potential and ability to successfully manufacture and supply our product candidates for clinical trials and for commercial use, if approved;\n\n•\nour ability to retain the continued service of our key personnel and to identify, hire, and then retain additional qualified personnel;\n\n•\nour ability to maintain compliance with the continuing listing requirements of the Nasdaq Stock Market; and\n\n•\nour expectations regarding the impact of major domestic and geopolitical events on our business.\n\nWe have based the forward-looking statements contained in this Report primarily on our current expectations and projections about future events and trends that we believe may affect our business, financial condition, results of operations, prospects, business strategy and financial needs. The outcome of the events described in these forward-looking statements is subject to risks, uncertainties, assumptions and other factors described in the section titled “Risk Factors” and elsewhere in this Report. These risks are not exhaustive. Other sections of this Report include additional factors that could adversely affect our business and financial performance. Moreover, we operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this Report. We cannot assure you that the results, events and circumstances reflected in the forward-looking statements will be achieved or occur, and actual results, events or circumstances could differ materially from those described in the forward-looking statements. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by us or any other person that we will achieve our objectives and plans in any specified time frame or at all.\n\nIn addition, statements that “we believe” and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based upon information available to us as of the date of this Report, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain and investors are cautioned not to unduly rely upon these statements.\n\n \n\n \n\nThe forward-looking statements made in this Report relate only to events as of the date on which such statements are made. We undertake no obligation to update any forward-looking statements after the date of this Report or to conform such statements to actual results or revised expectations, except as required by law.\n\nThis Report contains market data and industry forecasts that were obtained from industry publications. These data and forecasts involve a number of assumptions and limitations, and you are cautioned not to give undue weight to such information. We have not independently verified any third-party information. While we believe the market position, market opportunity and market size information included in this Report is generally reliable, such information is inherently imprecise.\n\nIn this Report, unless the context otherwise indicates, the terms “RenovoRx,” the “Company,” “we,” “our,” and “us” refer to RenovoRx, Inc., a Delaware corporation. Also, unless the context otherwise indicates, the term \"common stock\" means the Company's common stock, par value $0.001 per share.\n\nUnless otherwise stated, references to particular years, quarters, months or periods refer to our fiscal years ended in December and the associated quarters, months and periods of those fiscal years.\n\n \n\n \n\n \n\nPart I – FINANCIAL INFORMATION"}