VolitionRX Ltd. ( (VNRX) ) has released its Q1 earnings. Here is a breakdown of the information VolitionRX Ltd. presented to its investors.
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VolitionRx Limited, a multi-national epigenetics company, is dedicated to advancing the science of epigenetics through the development of simple, cost-effective blood tests for early detection and monitoring of diseases, including cancers and NETosis-related conditions.
In its first quarter of 2025, VolitionRx Limited reported significant progress in its commercial strategy, particularly with its Nu.Q® platform in the human diagnostics market. The company is in discussions with over ten companies, aiming to secure multiple licensing agreements, and has recorded its first revenue from the CE-marked Nu.Q® NETs product in Europe.
Financially, VolitionRx achieved a 44% increase in revenue compared to the previous year, reaching approximately $0.25 million. The company also reduced its net cash used in operating activities by nearly 50% from the first quarter of 2024. Additionally, VolitionRx secured $4.3 million in funding and finalized a convertible loan note for $6.25 million to support its operations.
Looking ahead, VolitionRx aims to achieve cash neutrality on a full-year basis in 2025, balancing its income with expenditures. The company remains focused on expanding its reach in the diagnostics market through strategic partnerships and continued commercialization of its innovative products.