RenovoRx, Inc.

This 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 commercialization efforts and 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 referring to the future, although not all forward-looking statements contain such 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:

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our estimates or expectations regarding our commercial efforts for our RenovoCath device, including (i) future revenues from commercial operations or otherwise, (ii) the number of active cancer center customers we may obtain or have available to us, and (iii) expenses, potential for cashflow positive operations, and anticipated capital requirements to fund our future operating expenses;

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our other anticipated financial or operational performance results;

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our anticipated use of our existing cash, cash equivalents, and investments, including the sufficiency of our existing cash, cash equivalents, and investments to fund our future operating expenses and capital expenditure requirements, and our future needs for additional financing;

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our ability to further develop and expand our TAMPTM therapy platform, both to use different chemotherapeutic agents, to include new indications, or to market our catheter on a standalone basis;

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the ability of our clinical trials to demonstrate safety and efficacy of our product candidates, and other positive clinical or related results;

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the progress and focus of our current and future clinical trials;

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projections 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 and trial completion for, and final results from, our clinical trials (notably our ongoing Phase III TIGeR-PaC trial as well as investigator-initiated trials);

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our continued reliance on third parties to conduct clinical trials of our product candidates, and for the manufacture of our product candidates;

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our 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;

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our plans relating to commercializing our product candidates like IAG, if approved, including the geographic areas of focus and our potential and ability to successfully commercialize our product candidates and generate revenue;

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the expected potential benefits of strategic collaborations with third parties and our ability to attract collaborators with relevant and complementary expertise;

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our estimates of the number of patients in the United States who suffer from the diseases we target;

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our estimates of potential addressable market opportunities and our ability to successfully penetrate addressable markets;

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the success of competing therapies or devices that are or may become available;

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developments relating to our competitors and our industry, including competing product candidates, therapies and devices;

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our plans relating to the further development and manufacturing of our devices and product candidates, including for additional indications which we may pursue;

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the scope of protection we are able to establish and maintain for intellectual property rights, including our therapy platform and product candidates;

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our ability to successfully negotiate and enter into agreements with distribution, strategic and corporate partners;

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our ability to maintain compliance with the continuing listing requirements of the Nasdaq Stock Market.

We 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 significant risks, uncertainties, assumptions and other factors described in the section titled “Risk Factors” and elsewhere in this Report and in our other SEC filings. 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.

In 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.

The 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.

This 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.

In 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 $0.0001 per share.

Unless 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.