Record commercial growth: Second-quarter revenue rose 115% year over year to $909,000, supported by increased RenovoCath procedures, repeat orders and expansion to 21 active cancer centers. RenovoRx raised and narrowed its 2026 revenue outlook to $3.75 million–$4.25 million. Pancreatic cancer trial advances: The company completed enrollment in its Phase III TIGeR-PaC trial, with final events expected in the first half of 2027 and initial top-line results anticipated in the second half of 2027.
Broader clinical applications: RenovoCath was used commercially for the first time in a sarcoma case, while RenovoRx also began supporting an investigator-initiated study in bile duct cancer, expanding its potential beyond pancreatic cancer. RenovoRx (NASDAQ:RNXT) reported record second-quarter revenue as it expanded its commercial cancer-center network and advanced its clinical program for locally advanced pancreatic cancer. For the quarter ended June 30, 2026, the company generated revenue of $909,000, up approximately 61% from $563,000 in the first quarter and 115% from $422,000 a year earlier.
Chief Executive Officer Shaun Bagai said second-quarter revenue represented roughly 83% of the company's full-year 2025 revenue of $1.1 million. → AST SpaceMobile Earnings Just Reminded Investors How Risky Space Can Be Bagai attributed the growth to a rising number of active commercial cancer centers, procedures and repeat orders for RenovoCath, the company's catheter device used with its Trans-Arterial Micro-Perfusion, or TAMP, drug-delivery technology. RenovoRx ended the second quarter with 21 active commercial cancer centers, compared with 16 as of its May 14 earnings call. The company defines active centers as sites that have purchased a catheter and treated a patient, Bagai said during the question-and-answer session. → Nebius' Q2 Beat Shows the AI Bottleneck Is Capacity, Not Demand The company is targeting at least 36 active commercial cancer centers by the end of 2026.
In addition to its active customers, RenovoRx said 42 centers were in various stages of evaluation, approval and activation, bringing its total commercial funnel to 63 centers, up from 48 centers reported in the first quarter. Bagai said 15 sites participating in the company's Phase III TIGeR-PaC clinical trial are positioned to transition to commercial RenovoCath use, with several already doing so. Some trial sites waited until enrollment was complete before beginning commercial activity, he said. → Apple's Next iPhone Could Test How Much Pricing Power Is Left Management said repeat ordering from existing centers remains a key commercial indicator.
Bagai said the company's third-quarter revenue was tracking to exceed the second-quarter level, though the company did not provide a specific quarterly forecast. Chief Financial Officer Mark Voll said the company has used its initial commercial rollout to understand factors affecting site activation, including approvals, physician referrals and coordination among specialties. The company has maintained a small sales force rather than rapidly building a larger one, he said, with field representatives focused on communication and on-site engagement.
Gross profit was $766,000 in the second quarter, producing a gross margin of approximately 84%, compared with roughly 85% in the first quarter. Research and development expense was about $1.2 million, while selling, general and administrative expense was approximately $2.9 million. Loss from operations totaled about $3.4 million, compared with an operating loss of $3.5 million in the prior quarter.
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