VolitionRX Ltd. ( (VNRX) ) has released its Q3 earnings. Here is a breakdown of the information VolitionRX Ltd. presented to its investors.
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VolitionRx Limited is a multi-national epigenetics company focused on developing and commercializing simple, cost-effective blood tests for diagnosing and monitoring a range of diseases, including cancer and conditions associated with NETosis, such as sepsis.
VolitionRx Limited has released its financial results for the third quarter of 2024, highlighting significant progress in both commercial and research endeavors. The company reported substantial growth in sales of its Nu.Q Vet Cancer Test and expanded its availability across 17 countries.
Key financial highlights include a 96% increase in year-to-date revenue to $1 million, with third-quarter revenue up 187% compared to the previous year. The Nu.Q Vet revenue showed remarkable growth, increasing by 100% year-to-date and 307% for the third quarter. The company also reported a reduction in cash used for operating activities by 36% year-over-year and secured a commitment for over $2.2 million in non-dilutive funding from Belgium.
VolitionRx made strides in its clinical and research programs, particularly within its cancer pillar, and hosted a symposium showcasing the potential of its Nu.Q NETs test in sepsis management. The company is advancing commercial discussions with significant industry players and aims to secure its first licensing deal in the human clinical space soon.
Looking ahead, VolitionRx remains focused on achieving cash neutrality by 2025, with continued efforts to expand its market presence and strengthen its financial stability. The company is optimistic about its ongoing commercial discussions and the potential for future licensing opportunities.
