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Biotech catalyst, news and analysis PDUFA tracker
Biotech catalyst, news and analysis PDUFA tracker
Catheter sales are growing; the final survival result remains ahead. Cash, adoption and the revenue-triggered warrant expiry define the next tests.
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Management expects Q3 revenue above the $909,000 Q2 record and targets 36 active centers by year-end. No confirmed next earnings day is stated here. Trial completion is expected in H1 2027, with topline in H2. A successful result needs persuasive survival benefit, statistical support and acceptable safety, not only enrollment completion. Source Source Source
June cash is $9.479 million against $6.576 million of H1 operating cash use. The calculated historical burn is $1.096 million a month. Management’s runway into H2 2027 assumes commercial and development progress; it is not an unchanged-burn calculation or an observed October balance. Source Source
The constructive case requires continued orders from existing cancer centers, more centers becoming active and revenue arriving within or above management’s 2026 guidance. Better sales should produce gross profit that absorbs more of the operating cost base. The trial then delivers a persuasive survival result in its stated second-half 2027 window, with adequate statistical and safety support. Neither element can be replaced by another case report. The financing terms also matter: successful development creates more value per existing share when the cost of reaching it remains manageable. Source Source
The adverse case is slowing adoption, a cash-use rate above expectations or a survival result that fails to support the combination program. A positive gross margin would not offset a sales base too small to carry company expenses. A failed trial would also leave the standalone catheter business with a different investment case. Additional issuance at unfavorable terms could compound either setback. The two-patient October publication and earlier pharmacokinetic findings cannot protect the thesis against weaker definitive survival evidence. Source Source
RenovoRx has a small device business that is generating revenue and an investigational drug-device combination whose decisive survival result remains ahead. The October 1, 2026 announcement adds a two-patient case series. It strengthens the rationale for studying local delivery, but it does not report the final TIGeR-PaC result. The immediate trading question is whether catheter adoption can grow fast enough to reduce financing pressure while that trial completes. Clinical promise, commercial progress and capital requirements are separate questions. Source Source
RenovoRx said the first patient was enrolled in PRISM-TAMP, an investigator-initiated trial at the University of Vermont testing gemcitabine delivered through its TAMP platform before surgery in borderline resectable pancreatic cancer. The study plans about 10 patients and looks at tumor regression, surgical margins and safety; UVM is the sponsor and RenovoRx provides support. A small single-center study: it extends use into a new setting but will not by itself establish efficacy. Source
Two locally advanced pancreatic cancer cases show reported tumor-marker reductions and favorable imaging changes without major procedural complications. This is a small case series, not the final randomized survival result. The release retains trial completion in H1 2027 and topline in H2 2027. Source
The publication covers 16 patients and reports local extraction of about 51% of the delivered drug. A biomarker correlation in eight evaluable patients has p=0.034. These are drug-distribution and biomarker measurements, not the Phase III survival result or a 51% patient response rate. Source
Q2 revenue was $909,000 and full-year guidance rose to $3.75–4.25 million. There were 21 active commercial centers and 42 others in the funnel. The company’s approximately $5 million quarterly break-even sales rate and Q4 2027 internal plan remain forward assumptions. Source
Investigators were notified on August 7 that TIGeR-PaC enrollment was closing. Trial completion and data publication remain separate: H1 2027 completion, H2 2027 topline. Reaching enrollment is an execution milestone, not confirmation of efficacy. Source
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RenovoRx has a small device business that is generating revenue and an investigational drug-device combination whose decisive survival result remains ahead. The October 1, 2026 announcement adds a two-patient case series. It strengthens the rationale for studying local delivery, but it does not report the final TIGeR-PaC result. The immediate trading question is whether catheter adoption can grow fast enough to reduce financing pressure while that trial completes. Clinical promise, commercial progress and capital requirements are separate questions. Source Source
The constructive case requires continued orders from existing cancer centers, more centers becoming active and revenue arriving within or above management’s 2026 guidance. Better sales should produce gross profit that absorbs more of the operating cost base. The trial then delivers a persuasive survival result in its stated second-half 2027 window, with adequate statistical and safety support. Neither element can be replaced by another case report. The financing terms also matter: successful development creates more value per existing share when the cost of reaching it remains manageable. Source Source
The central case is continued device growth with operating losses and clinical uncertainty. Commercial centers increase, but the company still consumes cash as it builds the sales organization and completes development. Management maintains its clinical windows, while individual publications add context without settling efficacy. A financing may therefore coexist with legitimate operating progress. The important comparison is between the capital raised, the shares issued and the evidence produced with that capital, rather than a simple claim that any funding event means failure. Source Source
The adverse case is slowing adoption, a cash-use rate above expectations or a survival result that fails to support the combination program. A positive gross margin would not offset a sales base too small to carry company expenses. A failed trial would also leave the standalone catheter business with a different investment case. Additional issuance at unfavorable terms could compound either setback. The two-patient October publication and earlier pharmacokinetic findings cannot protect the thesis against weaker definitive survival evidence. Source Source
The constructive reading requires commercial growth that improves cash coverage and reliable clinical evidence. These observations would weaken it.
These are observations that would weaken the interpretation, not forecasts of inevitable events.
RenovoRx sells RenovoCath, an FDA-cleared catheter for local delivery of fluids, including therapeutic agents, within its cleared uses. Separately, it is developing intra-arterial gemcitabine delivered through that device, described as IAG. The combination remains investigational and has not been approved for commercial sale. Device clearance supports an existing business; it does not authorize a claim that the investigational cancer treatment is already approved. This distinction determines both current revenue and the meaning of future clinical announcements. Source Source
The TAMP platform delivers chemotherapy locally through an artery near the tumor, seeking greater exposure at the intended site and less systemic exposure. The business thesis is that physicians can use a delivery tool across suitable treatment settings. Its clinical thesis asks whether that approach improves outcomes enough to justify adoption of the investigational combination. A local-delivery measurement answers part of the biological question, while survival and safety answer the treatment question. Those are related pieces of evidence with different financial implications. Source Source
At this stage, growth comes from cancer centers ordering the catheter and using it in procedures. Commercial revenue is recognized when the customer obtains control of the device, typically according to delivery terms. Payments by clinical trial sites for trial devices offset research expense rather than automatically becoming another commercial-sales line. A trader comparing center announcements with reported revenue should therefore look for actual commercial ordering and repeat use, rather than assuming every trial site represents a new paying customer. Source
The company describes a physician’s first commercial use in a sarcoma patient in August 2026. That is a possible route for broader adoption, but a single case does not establish a new approved drug indication or a reproducible treatment effect. The practical commercial test remains subsequent orders, active centers and revenue. The distinction avoids valuing each additional tumor mentioned in a release as though it were already a separate mature product business. Source
For the quarter ended June 30, 2026, revenue was $909,000, compared with $422,000 a year earlier and $563,000 in the first quarter. Management described approximately 115% annual growth and 61% sequential growth in its August 12 release. Those are meaningful increases from a small base. First-half revenue reached $1.472 million. The next report must show whether the acceleration persists, rather than leaving the trader to annualize one favorable quarter indefinitely. Source Source
Second-quarter cost of revenue was $143,000 and gross profit was $766,000, giving a calculated gross margin of 84.3%. The same quarter had research expense of $1.200 million and selling, general and administrative expense of $2.915 million. Total operating expense was therefore $4.115 million, producing an operating loss of $3.349 million. A high product margin gives the company room to benefit from higher volume, but the current gross profit does not finance its operating organization. Source
The comparison with the prior year helps distinguish adoption from profitability. Operating loss widened from $2.678 million even while revenue more than doubled. Commercial investment increased, with selling, general and administrative spending rising from $1.522 million. Those costs may support a larger business, but their value depends on subsequent orders and use. The next results will test whether the spending is converting into a durable sales base, not simply whether another percentage growth record can be reported. Source
Net loss of $2.911 million barely changed from $2.895 million a year earlier. That stability is less reassuring than it appears because a $350,000 gain from warrant remeasurement helped the 2026 result, while the corresponding prior-year item was a $350,000 loss. The $700,000 swing is noncash and does not represent cash collected from customers. Operating cash use and the commercial cost base remain better measures of the resources needed to continue. Source
The August 12, 2026 release reports 21 active commercial cancer centers at the end of June, compared with 16 at the first-quarter earnings announcement. The company defines an active center as one where doctors are treating patients with RenovoCath. It also reports 42 additional centers in evaluation, approval or activation. Together those categories form a 63-center funnel. Describing all 63 as active customers would overstate the commercial footprint and weaken any calculation of revenue per customer. Source Source
Management targets 36 active commercial centers by the end of 2026. That target is useful because it connects a commercial milestone with a defined window. It remains an objective, not a booked order or a guarantee of how much each center will spend. The key distinction in the next update is activation versus utilization: more centers can improve access, while repeat procedures and repeat orders determine whether access turns into meaningful revenue. A larger pipeline alone does not establish the conversion rate. Source
The company also identifies 15 TIGeR-PaC sites as potential commercial conversions, with several already transitioning. These sites should not automatically be added to the active-center count as a separate pool of entirely new customers. The meaningful outcome is their actual commercial contribution once trial enrollment has closed. A physician already familiar with the procedure may face fewer adoption barriers, but commercial ordering still depends on local practice, patient suitability and the site’s own purchasing process. Source
Customer concentration matters while sales remain small. The quarterly report identifies three customers contributing 20.0%, 16.8% and 15.2% of second-quarter revenue. Repeat use by an important center can support growth; changes in that center’s ordering can also cause a noticeable revenue swing. A report of strong repeat ordering is encouraging, but a trader should still compare revenue, customer concentration and active centers over successive periods rather than assuming every new center contributes the same amount immediately. Source
On August 12, 2026, RenovoRx raised full-year revenue guidance to $3.75 million–$4.25 million, from $3.0 million–$4.0 million. Subtracting the reported $1.472 million first half gives a calculated second-half requirement of $2.278 million–$2.778 million. The calculation provides a practical yardstick for later results. It does not prescribe the split between the third and fourth quarters, which can depend on activation timing and ordering patterns. Source Source
Management expected third-quarter revenue to exceed the $909,000 second-quarter record. That is a stated operating expectation, not the actual third-quarter result. The next financial announcement should establish whether growth continued, how many centers are actively treating patients and whether the full-year guidance still stands. The source does not provide a confirmed next earnings day, so the checkpoint is the next reported quarter rather than an invented calendar appointment. Source
The same release frames cash-flow break-even around approximately $5 million of quarterly revenue, with an internal plan targeting the fourth quarter of 2027. The unit matters: this is a quarterly sales rate, not $5 million for a full year. It is also a management plan contingent on the cost base and commercial development. It is not a promise that the June 30, 2026 cash balance already finances all operations until that point. Source
For an event-day reading, start with revenue and guidance, then move to gross profit, operating expenses and cash flow. A larger sales number can be positive while higher commercial spending delays financial self-sufficiency. Conversely, spending less may preserve cash while slowing adoption. The useful result is evidence that increasing utilization is improving the relationship between revenue and the resources required to generate it. That relationship is what determines whether growth reduces future financing dependence. Source Source
Cash and cash equivalents were $9.479 million on June 30, 2026, compared with $7.024 million at the preceding year-end. First-half operating cash use was $6.576 million. Dividing by six gives a calculated historical operating burn of $1.096 million per month. Capital spending used another $71,000 in the half. These amounts describe the first half and the June balance; they are not observations of October cash or a guaranteed spending rate for the next year. Source
Dividing the June cash balance by the historical monthly operating rate produces approximately 8.65 months from June 30. This simple sensitivity excludes changes in sales, expenses and other cash movements. It does not mean that 8.65 months remain as of October. A trader should instead compare the next reported balance and operating outflow with the assumptions underpinning management’s plan. A static division is useful for identifying sensitivity, but cannot replace a forecast with changing revenue. Source
Management states that cash resources should support operating, investing and financing needs for at least twelve months from issuance of the August quarterly report, into the second half of 2027. The estimate assumes the commercial strategy and development programs advance as contemplated. It therefore differs from the historical-burn division. The company is assuming a changing business, particularly higher sales; the arithmetic sensitivity holds the reported past rate unchanged. Neither number tells the full story without that difference. Source Source
The cash balance increased during the half because the March private placement provided financing. The cash-flow statement records $9.102 million of financing inflow after offering costs against operating and investing outflows. Those proceeds are already reflected in June cash. Adding another $10 million headline raise to that balance would count the same funding twice. Progress in device sales is real, but the balance sheet still shows why access to equity capital remains part of the development story. Source
The June 30 balance sheet does not show financial borrowings. It does show accounts payable of $866,000, accrued expenses of $1.018 million, a $350,000 warrant liability and lease obligations. The operating lease liability totals $390,000, including its current portion. Absence of a loan does not remove the requirement to pay suppliers, staff and landlords. The warrant liability is an accounting valuation of an instrument, not new cash borrowing, and it does not add to monthly burn. Source
RenovoRx depends on Medical Murray as its primary third-party catheter manufacturer. At June 30 the report describes approximately $1.8 million of outstanding noncancelable purchase commitments, including a new $1.5 million purchase order entered in June. The order supports device availability into the second half of 2027. The new order is part of the disclosed commitment picture, not another $1.5 million that can simply be added to the $1.8 million outstanding total. Source
The quarterly report describes a $50 million shelf filed in November 2025, subject to limitations including baby-shelf rules. It expects access to an at-the-market program and other financing opportunities through that registration. Registered capacity is not cash already received, and it does not guarantee an investor will provide money when needed. The report also states that the company has no credit facility or committed capital source. Future equity access must therefore be considered alongside share issuance and market conditions. Source
There is no current loan covenant maturity to substitute for the actual financing question. The concern is whether commercial cash generation can improve fast enough, whether spending remains within the plan and what terms are available if more funding becomes necessary. A new financing can extend operations while reducing the ownership percentage represented by each old share. Its effect depends on proceeds, cost, share count and the clinical or commercial work those proceeds finance. Source
Common shares outstanding were 45,121,982 at June 30, 2026 and 45,129,508 on the August 7 cover date. The comparable December 2025 count was 36,613,916. These dated issued-share counts are distinct from 250 million authorized common shares. Authorization gives legal room for future issuance; it is not a measure of shares already owned or trading. The substantial increase during the half reflects financing and awards rather than commercial revenue creating additional shares by itself. Source
The March placement sold 8,438,790 common shares, pre-funded warrants covering 2,200,000 shares and milestone warrants covering 5,319,392 shares for approximately $10 million gross. Pre-funded warrants carry only a $0.0001 remaining exercise price. Most of their economic funding arrived at issuance; exercising them does not deliver another full subscription price. The securities should be included in a thoughtful dilution analysis without counting their earlier cash proceeds again. Source Source
The milestone warrants were exercisable immediately. Their expiry accelerates to thirty days after the company reports at least $1.5 million of product-sales revenue in any calendar quarter in a quarterly or annual report, or March 30, 2029 if earlier. The threshold is a single quarter, not cumulative half-year revenue. The terms exclude licensing fees, upfront milestones and grants but include royalties from product sales. The reporting event starts the clock; sales do not instantly erase the warrants. Source
Exercise prices are $1.751 for institutional investors and $1.9326 for insiders. Holders can exercise before expiry according to the terms, creating shares and cash. If they do not exercise, expiration removes that instrument’s potential dilution and also removes the possible exercise proceeds. A revenue milestone can therefore be commercially positive while producing different capital outcomes. The relevant question is how many warrants actually exercise, not an automatic assumption that reaching the threshold either raises cash or destroys every warrant immediately. Source
The ownership filings separately document Mark Voll’s 80,000-RSU CFO-service grant and October option awards of 55,924 each for Laurence Marton, Una Ryan, Robert Spiegel and K. Angela Macfarlane; these awards are not market purchases. SEC ownership filing 1; SEC ownership filing 2; SEC ownership filing 3; SEC ownership filing 4; SEC ownership filing 5.
At June 30, 2026, total outstanding warrants covered 28,554,994 shares. That total already includes the 2.2 million March pre-funded warrants and 5.319392 million milestone warrants. Adding those categories to the total again would double count them. The report also lists 6,449,232 outstanding options and 28,578 unvested restricted stock units. The exercise terms, vesting and expiry conditions determine which instruments actually turn into common shares. The entire instrument pool is not a schedule of immediate issuance. Source
The incentive plan replenishes its share reserve annually. The 2025 annual report describes an evergreen increase to 5% of preceding year-end shares, approved in June 2025. The June 2026 quarterly report records 1,830,696 additional shares reserved on January 1 and a separate 2 million reserve increase approved by shareholders on June 30. Reserve capacity and actual awards are different categories. Replenishing a plan does not mean all reserved shares were sold into the market that day. Source Source Source
First-half stock-based compensation was $887,000. It contributes to accounting expense but is not an equivalent cash payment within the operating-burn calculation. It nevertheless matters to shareholders because awards can increase future economic exposure. Both the cash-flow statement and the share tables matter. Using only net loss can obscure cash needs; using only cash burn can obscure ownership dilution. Together they show the two ways development can cost existing holders. Source
The June instrument inventory is dated; only a newer filing can give a current picture. An exercise can transfer exposure from a warrant into common shares, so a higher common count is not necessarily an entirely new financing event. New offerings and new awards are different again. Keeping these changes separate makes it easier to assess whether the company has raised new resources, merely changed the legal form of already funded exposure or expanded future claims without an immediate cash benefit. Source
The company also reports FDA orphan designations for RenovoCath with gemcitabine in pancreatic and bile-duct cancer, and for oxaliplatin in pancreatic cancer. These designations do not establish approval of the investigational drug-device combination. RenovoRx press release: Nasdaq minimum bid price compliance regained.
The first TIGeR-PaC interim result, announced March 30, 2023, included 45 randomized patients. Median overall survival from randomization was 16 months in the investigational group and 10 months in the comparator group, with p=0.051. The company stated that statistical significance was not reached to stop the study early. This historical result supports continued investigation; it is not the final Phase III outcome or a demonstrated approval-level survival benefit. The date and the qualification belong with the figures. Source
The same release reported four serious adverse events in the 23 investigational patients and eleven in the 22 comparator patients. Those are reported events in an interim dataset, not a declaration that the approach has no safety risk. Subsequent exposure, follow-up and the final analysis remain relevant. A favorable early numerical comparison can strengthen a rationale while remaining too small to resolve treatment positioning, rare harms or the consistency of benefit. Source
A second interim review in 2025 led the independent monitoring committee to recommend continuation. The current quarterly report says publication of the second interim figures was deferred to preserve trial integrity, with reconsideration after completion. Continuing a study is not a new efficacy result. It does not supply a missing hazard ratio or p-value that a writer can infer from management’s optimism. The next decisive clinical announcement will be judged on its actual final numbers. Source
Full enrollment was announced August 11, 2026 after investigators were notified on August 7. The company expects trial completion in the first half of 2027 and initial topline results in the second half. The October 1 release retains those windows. Completion and publication of results are separate milestones; calling the first-half window a confirmed survival-readout date would give the trader the wrong expectation. These are company estimates rather than a fixed event day. Source Source
A new clinical setting opened on October 7, 2026. RenovoRx said the first patient was enrolled in PRISM-TAMP (NCT07477418), an investigator-initiated trial sponsored by the University of Vermont, with principal investigator Dr. Conor O’Neill, testing neoadjuvant gemcitabine via TAMP in borderline resectable pancreatic cancer. About 10 patients are planned, with tumor regression, intraoperative margins and safety as the assessments. The size and single-center design make it exploratory: the survival question still rests on the pivotal TIGeR-PaC data. Company release
The August results release describes a multi-center post-marketing registry, Q2 support for a cholangiocarcinoma investigator-initiated study, and a Moffitt case report examining PET-CT monitoring of response. Those are limited evidence-building activities, not pivotal efficacy proof. The release identifies 86 deaths as the TIGeR-PaC completion threshold and 78 observed by August 11, 2026. RenovoRx press release: record second-quarter 2026 results.
The August 25, 2026 pharmacokinetic publication concerned 16 patients, with eleven receiving intra-arterial gemcitabine and five receiving intravenous gemcitabine. The reported targeted extraction ratio was 0.511, meaning approximately 51% was extracted locally before systemic circulation according to the study’s model. That percentage is a drug-delivery measurement. It is not a tumor-response rate, not the proportion of patients helped and not evidence that 51% of patients lived longer. Source
The release also reports a correlation between metabolite levels and reduction in the CA 19-9 tumor marker: r=-0.75 and p=0.034 in eight evaluable patients. Three were excluded from that biomarker analysis because baseline CA 19-9 was normal. The result offers a pharmacodynamic signal on a small sample. Its p-value must not be reused as the significance level for the main Phase III survival result, which answers a different question in a different analysis. Source
On October 1, 2026, the company announced a peer-reviewed series involving two patients with locally advanced pancreatic cancer. It describes reductions in CA 19-9 and favorable imaging changes, including resolution of vascular narrowing, without major procedural complications in those cases. The patients’ observations are potentially useful clinical experience. They do not provide a randomized comparison, a general response rate or the final TIGeR-PaC survival outcome. The two-person denominator is essential to the news. Source
For trading purposes, these publications add supporting evidence while leaving the larger catalyst intact. A mechanistic measurement can explain why a delivery approach deserves study; a case series can illustrate practical use. The definitive claim still requires reliable clinical results. On future publication days, identify whether the new material changes survival, safety, treatment adoption or merely provides another explanation of the same platform. That distinction prevents a scientific update from being mistaken for resolution of the central risk. Source Source Source
Finviz data as of October 2, 2026 list a float of 43.48 million shares, short float of 1.55% and short ratio of 0.91. No settlement date is given for those figures. These are dated third-party figures, not a measurement of short positions that morning. A modest reported short-float field does not establish the absence of bearish positioning, and it does not explain a clinical outcome. Market structure informs the possible trading response to evidence. Source
The same snapshot lists institutional ownership of 20.38% and insider ownership of 3.66%. AIGH’s amended filing, dated April 27 for the March 31 event, reports approximately 4.43 million shares and 9.8% on its stated denominator. Related reporting persons share exposure, so their holdings are not those of separate unrelated investors. That filing documents a substantial dated interest; the third-party figures are a later estimate using their own definitions. Neither guarantees a holder’s position has stayed unchanged. Source Source
Mark Voll’s Form 4 filed September 15 reports a transaction dated September 10, 2026. He received an award of 80,000 restricted stock units for future CFO services, with monthly vesting. It is an award at zero transaction price, not an open-market purchase. The correct interpretation is compensation exposure and potential future share issuance, without inventing either a discretionary buying signal or a clinical motive. Source
Nasdaq confirmed on August 20, 2026 that RenovoRx regained minimum-bid compliance, and the company announced it on August 21. The matter was closed. The old December compliance deadline is therefore no longer a future catalyst. Listing requirements remain part of general operating risk, but a completed cure is not an unresolved delisting event, even though that warning appeared in the earlier quarterly filing. Source Source
The main commercial warning is activation without enough recurring use. At the next results, compare active centers, actual revenue and the full-year range. A larger pipeline that fails to produce orders would weaken the sales thesis. Higher revenue accompanied by disproportionate operating costs could also leave cash pressure intact. The company needs sales that improve its financing position, not only a larger collection of interested institutions. Source Source
The financial warning is a runway claim that forgets its assumptions. The June balance, historical monthly operating use and management’s growth-based runway are different measures. The next reported cash and operating outflow should show whether adoption is narrowing that gap. Watch for new issuance, actual warrant exercise and changes in the cost of development. Registered shelf capacity or possible proceeds from exercise cannot substitute for resources already on the balance sheet. Source Source
The clinical warning is a supporting publication presented as definitive efficacy. The small pharmacokinetic dataset and two cases do not settle overall survival. For the final trial announcement, read the treatment effect, statistical evidence, patient population and safety findings actually reported. A missed result cannot be repaired by repeating the early six-month numerical advantage. If the timing changes, distinguish event accrual, completion and preparation of results before assuming the cause or outcome. Source Source Source
The operational conclusion is conditional: RenovoCath is generating fast growth from a small base, while company-level cash generation and the main survival proof remain ahead. The next commercial reports will test guidance and utilization; the larger clinical test is the second-half 2027 result. The investment case becomes stronger if those advances arrive with manageable cash use and ownership dilution. It weakens if adoption stalls, funding becomes costly or reliable survival evidence fails to support the program. These are conditions for evaluating information, not instructions to buy or sell. Source Source Source
No. RenovoCath is an FDA-cleared delivery device, while the intra-arterial gemcitabine combination remains investigational. The October 1, 2026 release keeps that distinction. Source
No. It described two patients. Trial completion remains expected in H1 2027 and initial topline in H2 2027. Imaging and tumor markers in two cases are not the final survival comparison. Source
No. The August 25, 2026 study reported an estimated local extraction ratio of 0.511 in a 16-patient pharmacokinetic study. It measures drug distribution, not the patient-response rate. Source
No. The August 12, 2026 release reports 21 active centers plus 42 in evaluation, approval or activation. The 63 total is the funnel, not the active customer count. Source
No. Their terms start a thirty-day expiry period after a quarterly or annual report discloses the required single-quarter product revenue. They were already exercisable. Actual exercise or expiration determines shares and proceeds. Source
No. The Form 4 filed September 15, 2026 reports an 80,000-RSU award on September 10 for future CFO services with monthly vesting. It is compensation, not a discretionary market buy. Source
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