VolitionRX (VNRX) AI Stock Analysis

• Market Cap: $64.77M
• Dividend Yield: N/A
• Average Volume (3M): 173.26K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.36
• Revenue Growth: 35.10%
• EPS Growth: 39.15%
• Country: US
• Employees: 85
• Sector: Healthcare
• Sector Strength: 52
• Industry: Medical - Diagnostics & Research
• EPS (TTM): -0.06
• Shares Outstanding: 107,595,420
• 10 Day Avg. Volume: 193,783
• 30 Day Avg. Volume: 173,265
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 1.32
• Enterprise Value/Revenue: 64.75
• Enterprise Value/Gross Profit: 64.75
• Enterprise Value/Ebitda: -3.98
• 1Y Price Target: $2.00
• Price Target Upside: 233.33% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3

• Rating: 43 Neutral
• Price Target: $0.50 ▼(-16.67% Downside)

VolitionRX's overall stock score is primarily impacted by its weak financial performance, characterized by negative profitability and cash flow issues. Technical indicators also suggest bearish momentum. While the earnings call provided some positive developments, concerns about revenue predictability and cash reserves remain significant.

Positive Factors

Financial Performance

Revenue grew 44% in 1Q25; licensing deals expected in 2H25.

Partnerships and Collaborations

The anticipated announcement of a partnership in the human health space is seen as the most important near-term catalyst, both for potential non-dilutive capital and validation of the company's stated business strategy.

Product Development

Clinical studies have demonstrated the utility of VNRX’s nucleosome-based assays in a wide range of diseases, suggesting broad utility in the screening, diagnosis, and monitoring of human diseases.

Negative Factors

Financial Risks

The company may need to raise additional capital in the near term if sufficient cash is not received from the upcoming licensing deal.

Market Challenges

The market is discounting the likelihood in human health despite management statements related to ongoing discussions with potential partners and favorable clinical data in multiple indications.

Operational Risks

Risks include, but are not limited to: failure in clinical development of diagnostic products; failure to secure license agreements for diagnostic products; failure to achieve market traction with diagnostic products; dilution risk; and going concern risk and delisting risk.

VolitionRX Business Overview & Revenue Model

Company Description

VolitionRx Limited, a multi-national epigenetics company, engages in the development of blood tests to help diagnose a range of cancers and other diseases worldwide. It sells Nu.Q that detect cancer; Nu.Q Nets, monitoring the immune system; Nu.Q Vet cancer screening test for veterinary applications; Nu.Q Capture capturing and concentrating samples for more accurate diagnosis; and Nu.Q Discover, a solution to profiling nucleosomes. The company operates Nucleosomics a technology platform for blood test. VolitionRx Limited is based in Austin, Texas.

How the Company Makes Money

VolitionRx generates revenue primarily through the sale of its diagnostic tests and services. The company is working on commercializing its tests, which are intended for use in a variety of cancer types, including colorectal cancer. Key revenue streams include partnerships with laboratories and healthcare providers that utilize VolitionRx's tests in their diagnostic offerings. Additionally, the company may generate revenue through collaborations with pharmaceutical companies for research and development purposes, as well as potential licensing agreements. Significant partnerships with established medical institutions and ongoing clinical trials further enhance its revenue potential.

VolitionRX Financial Statement Overview

Summary

VolitionRX is experiencing significant financial difficulties across all major financial statements. The income statement shows persistent losses despite modest revenue growth. The balance sheet highlights critical solvency issues with negative equity and high liabilities. Lastly, the cash flow statement indicates a heavy reliance on financing to maintain liquidity. These factors collectively suggest a high-risk financial profile, necessitating strategic improvements in revenue generation and cost management to stabilize the company's finances.

Income Statement

VolitionRX's income statement reveals a challenging financial position with consistent net losses. The gross profit margin remains positive at 100% due to low revenue, while net profit margins are significantly negative due to large operating expenses. The revenue growth shows a positive trajectory, increasing by approximately 6.1% in the TTM, yet the company struggles with substantial negative EBIT and EBITDA margins, indicating high operational costs relative to revenue.

Balance Sheet

The balance sheet presents a precarious financial situation with negative stockholders' equity, suggesting the company is heavily leveraged. The debt-to-equity ratio cannot be calculated due to negative equity, but this signifies high financial risk. Total liabilities significantly exceed total assets, indicating potential solvency issues. The low equity ratio further supports the company's weak financial position.

Cash Flow

Cash flow analysis shows VolitionRX faces substantial negative free cash flow, although free cash flow did improve slightly from the previous year. The operating cash flow remains negative, indicating insufficient cash generation from operations to cover expenses. Financing activities have been a primary source of cash, suggesting dependency on external funding to sustain operations.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.32M	1.23M	775.30K	306.39K	90.03K	13.43K
Gross Profit	1.32M	1.23M	775.30K	-882.03K	90.03K	13.43K
EBITDA	-21.48M	-25.62M	-34.04M	-29.24M	-25.69M	-19.23M
Net Income	-23.32M	-26.97M	-35.32M	-30.27M	-26.97M	-20.48M
Balance Sheet
Total Assets	8.70M	9.40M	27.95M	18.30M	27.49M	26.15M
Cash, Cash Equivalents and Short-Term Investments	2.26M	3.26M	20.73M	10.87M	20.58M	19.44M
Total Debt	10.94M	5.82M	5.86M	4.97M	4.02M	4.44M
Total Liabilities	41.80M	35.51M	36.66M	21.42M	9.77M	9.86M
Stockholders Equity	-31.82M	-24.91M	-7.80M	-2.57M	17.94M	16.34M
Cash Flow
Free Cash Flow	-21.79M	-26.47M	-19.15M	-16.85M	-21.83M	-18.41M
Operating Cash Flow	-21.38M	-25.89M	-18.06M	-15.28M	-20.85M	-16.46M
Investing Cash Flow	-413.19K	-573.85K	-1.08M	-1.57M	-973.56K	-1.65M
Financing Cash Flow	17.23M	8.66M	28.98M	6.94M	22.86M	20.62M

VolitionRX Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.60
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VNRX, the sentiment is Negative. The current price of 0.6 is below the 20-day moving average (MA) of 0.66, below the 50-day MA of 0.69, and below the 200-day MA of 0.61, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 38.44 is Neutral, neither overbought nor oversold. The STOCH value of 12.68 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for VNRX.

VolitionRX Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ENZB	54 Neutral	$36.59M	―	-13.95%	―	―	―
Sector *	51 Neutral	$7.95B	-0.40	-42.50%	2.21%	22.29%	-1.85%
BNR	51 Neutral	$89.32M	―	-37.15%	―	-0.26%	60.09%
BNGO	50 Neutral	$18.68M	―	-118.26%	―	-25.02%	85.08%
BDSX	47 Neutral	$64.72M	―	-219.68%	―	25.70%	39.23%
BIAF	44 Neutral	$6.80M	―	-1802.45%	―	4.99%	22.58%
VNRX	43 Neutral	$64.77M	―	138.92%	―	35.10%	39.15%

VolitionRX Corporate Events

VolitionRX Stockholders Approve Key Proposals at Meeting

At the Annual Meeting on June 18, 2025, VolitionRX‘s stockholders voted on four proposals. The stockholders elected eight members to the Board of Directors, ratified the selection of Sadler, Gibb & Associates, LLC as the independent registered public accounting firm, approved the compensation of the company’s named executive officers, and approved an amendment to the Restated Certificate.