Volition Issues Business Review 2024

Rhea-AI Summary

VolitionRx (NYSE AMERICAN: VNRX) has released its 2024 Business Review, highlighting significant achievements in expanding its diagnostic technologies. The company's Nu.Q® Vet Cancer Test reached 20 countries worldwide, with over 110,000 tests sold in the first three quarters of 2024.

Key developments include hosting a Satellite Symposium showcasing Nu.Q® NETs clinical utility in over 3,000 intensive care sepsis patients, strengthening their patent portfolio, and making progress in clinical and research programs within their cancer pillar. The company has initiated commercial discussions for out-licensing opportunities in sepsis and oncology liquid biopsy markets.

Volition also strengthened its Board of Directors with the appointment of Timothy Still as chair and Dr. Ethel Rubin as Independent Director, both bringing significant commercial and financing experience in diagnostics.

Positive

• Nu.Q® Vet Cancer Test expanded to 20 countries
• Strong sales performance with 110,000+ Vet Cancer Tests sold in first three quarters
• Advanced commercial discussions for potential licensing agreements in large markets
• Strengthened Board with experienced diagnostics industry executives

Negative

• None.

Insights

Financial Analyst

The business review reveals mixed signals for VNRX. The company's Nu.Q® Vet Cancer Test shows commercial traction with >110,000 units sold across 20 countries in just three quarters of 2024, indicating growing market acceptance. However, the absence of specific revenue figures or growth metrics makes it difficult to assess the financial impact. The focus on potential licensing deals for Nu.Q® NETs and oncology portfolio could be transformative, but these remain in discussion phase. The appointment of Timothy Still as chair and Dr. Ethel Rubin as Independent Director strengthens the board's commercial expertise, particularly valuable for navigating potential licensing agreements. The company appears to be positioning itself for commercial expansion while managing cash burn, though concrete financial metrics would be needed to fully evaluate their progress. The market cap of $63.3M suggests the market is still taking a cautious view despite these developments.

Medical Research Analyst

The clinical validation of Nu.Q® NETs in over 3,000 intensive care sepsis patients represents a significant data set that could support commercial adoption. The sepsis diagnostic market is substantial and currently underserved, making this a potentially valuable opportunity. The company's emphasis on expanding their patent portfolio suggests continued innovation in their epigenetics platform. The progression of multiple clinical and research programs in oncology indicates pipeline diversification. However, the lack of specific clinical trial results or regulatory milestones makes it challenging to assess the true progress. The strategy of using virtual data rooms for sharing clinical information with potential partners is standard industry practice for licensing discussions, but success will ultimately depend on the robustness of the clinical data. The company's dual focus on both veterinary and human applications provides multiple paths to market, though each requires different validation standards.

HENDERSON, Nev., Jan. 8, 2025 /PRNewswire/ -- VolitionRx Limited (NYSE AMERICAN: VNRX) ("Volition" or the "Company"), a multi-national epigenetics company, has issued a Business Review of 2024, outlining its key highlights from the past year.

Volition's major achievements in 2024 include:

• Expanded access to the Nu.Q® Vet Cancer Test – now available for purchase in 20 countries worldwide.
• Sold over 110,000 Nu.Q® Vet Cancer Tests in the first three quarters 2024.
• Hosted Satellite Symposium at European Society of Intensive Care Medicine 2024 showcasing Nu.Q® NETs clinical utility in over 3,000 intensive care sepsis patients.
• Continued to strengthen our strategic patent portfolio.
• Made significant progress across a number of clinical and research programs within our cancer pillar.
• Initiated commercial discussions with significant players in the diagnostic space for both human and animal health out-licensing opportunities in large markets such as sepsis and oncology liquid biopsy. Information is being shared via virtual data rooms.
• Strengthened the Board of Directors in the appointment of an experienced chair, Timothy Still, and Independent Director, Dr. Ethel Rubin, both of whom bring significant commercial and financing experience in the diagnostic sector.

To find out more about these achievements, please read Volition's Business Review HERE

Cameron Reynolds, President and Group Chief Executive Officer, said: "As we head into 2025, Volition is at a pivotal juncture, ready to revolutionize the diagnosis and monitoring of life-altering diseases for both animals and humans.

"There is significant interest in potential licensing and/or supply agreements for both Nu.Q® NETs and our oncology portfolio, with several commercial discussions progressing well. We anticipate adding a number of clinical papers to our licensing data rooms early in 2025.

"Our team's dedication remains steadfast: driving progress across all our pillars, fostering clinical collaborations, achieving revenue growth and out-licensing our technologies. With a solid foundation, a focus on financial sustainability, and a clear vision for 2025, we are committed to fulfilling our mission of improving health outcomes for humans and animals worldwide."

About Volition

Volition is a multi-national company focused on advancing the science of epigenetics. Volition is dedicated to saving lives and improving outcomes for people and animals with life-altering diseases through earlier detection, as well as disease and treatment monitoring.

Through its subsidiaries, Volition is developing and commercializing simple, easy to use, cost-effective blood tests to help diagnose and monitor a range of diseases, including some cancers and diseases associated with NETosis, such as sepsis. Early diagnosis and monitoring have the potential not only to prolong the life of patients, but also to improve their quality of life.

Volition's research and development activities are centered in Belgium, with an innovation laboratory and office in the U.S. and additional offices in London and Singapore.

The contents found at Volition's website address are not incorporated by reference into this document and should not be considered part of this document.  Such website address is included in this document as an inactive textual reference only.

Media Enquiries:
Louise Batchelor, Volition, mediarelations@volition.com +44 (0)7557 774620

Investor Relations:
Jeremy Feffer, LifeSci Advisors, jfeffer@lifesciadvisors.com, +1-212-915-2568

Safe Harbor Statement

Statements in this press release may be "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that concern matters that involve risks and uncertainties that could cause actual results to differ materially from those anticipated or projected in the forward-looking statements. Words such as "expects," "anticipates," "intends," "plans," "aims," "targets," "believes," "seeks," "estimates," "optimizing," "potential," "goal," "suggests," "could," "would," "should," "may," "will" and similar expressions identify forward-looking statements. These forward-looking statements relate to, among other topics, Volition's expectations related to revenue opportunities and growth, the timing, completion, success and delivery of data from clinical studies, the timing of publications, the effectiveness and availability of Volition's blood-based diagnostic, prognostic and disease monitoring tests, Volition's ability to develop and successfully commercialize such test platforms for early detection of cancer and other diseases as well as serving as a diagnostic, prognostic or disease monitoring tools for such diseases, and Volition's success in securing licensing, supply and/or distribution agreements with third parties for its products. Volition's actual results may differ materially from those indicated in these forward-looking statements due to numerous risks and uncertainties, including, without limitation, results of studies testing the efficacy of its tests. For instance, if Volition fails to develop and commercialize diagnostic, prognostic or disease monitoring products, it may be unable to execute its plan of operations. Other risks and uncertainties include Volition's failure to obtain necessary regulatory clearances or approvals to distribute and market future products; a failure by the marketplace to accept the products in Volition's development pipeline or any other diagnostic, prognostic or disease monitoring products Volition might develop; Volition's failure to secure adequate intellectual property protection; Volition will face fierce competition and Volition's intended products may become obsolete due to the highly competitive nature of the diagnostics and disease monitoring market and its rapid technological change; downturns in domestic and foreign economies; and other risks, including those identified in Volition's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, as well as other documents that Volition files with the Securities and Exchange Commission. These statements are based on current expectations, estimates and projections about Volition's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Forward-looking statements are made as of the date of this press release, and, except as required by law, Volition does not undertake an obligation to update its forward-looking statements to reflect future events or circumstances.

Nucleosomics™, Capture-PCR™ and Nu.Q® and their respective logos are trademarks and/or service marks of VolitionRx Limited and its subsidiaries. All other trademarks, service marks and trade names referred to in this press release are the property of their respective owners.

View original content:https://www.prnewswire.com/news-releases/volition-issues-business-review-2024-302345655.html

SOURCE VolitionRx Limited

FAQ

How many Nu.Q® Vet Cancer Tests did VNRX sell in the first three quarters of 2024?

VolitionRx sold over 110,000 Nu.Q® Vet Cancer Tests in the first three quarters of 2024.

In how many countries is VNRX's Nu.Q® Vet Cancer Test available as of 2024?

The Nu.Q® Vet Cancer Test is available for purchase in 20 countries worldwide.

How many sepsis patients were included in VNRX's Nu.Q® NETs clinical utility study?

The Nu.Q® NETs clinical utility was showcased in over 3,000 intensive care sepsis patients.

Who are the new board members appointed to VNRX in 2024?

Volition appointed Timothy Still as chair and Dr. Ethel Rubin as Independent Director to its Board of Directors.

What are the main markets VNRX is targeting for out-licensing opportunities?

VNRX is targeting large markets such as sepsis and oncology liquid biopsy for out-licensing opportunities.