VolitionRX (VNRX) AI Stock Analysis

• Market Cap: $79.11M
• Dividend Yield: N/A
• Average Volume (3M): 315.02K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.19
• Revenue Growth: 64.15%
• EPS Growth: 41.65%
• Country: US
• Employees: 85
• Sector: Healthcare
• Sector Strength: 44
• Industry: Medical - Diagnostics & Research
• EPS (TTM): -0.06
• Shares Outstanding: 103,022,675
• 10 Day Avg. Volume: 411,853
• 30 Day Avg. Volume: 315,018
• PEG Ratio: -0.57
• Price to Book (P/B): -52.23
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -7.98
• Enterprise Value/Market Cap: 1.63
• Enterprise Value/Revenue: 26.77
• Enterprise Value/Gross Profit: 98.30
• Enterprise Value/Ebitda: -1.19
• 1Y Price Target: $2.75
• Price Target Upside: 257.14% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3

• Rating: 53 Neutral
• Price Target: $1.00 ▲(29.87%Upside)

VolitionRX's overall stock score reflects a mixed outlook. While the company shows potential through strategic initiatives and product expansions, financial instability and ongoing losses weigh heavily on its prospects. Positive developments from the earnings call and technical indicators provide some optimism, but the financial risks demand caution.

Positive Factors

Revenue Growth

The company recorded its first revenue from sale of the CE-Marked Nu.Q NETs automated product in Europe.

Strategic Partnerships

The company's strategy to drive widespread adoption of its patent-protected portfolio of Nu.Q assays via collaborations with major marketing partners in the human and animal health spaces is achievable and could drive the company to achieve highly favorable operating margins.

Negative Factors

Clinical Development Risks

Risks include failure in clinical development, failure to secure license agreements, and going concern risk.

Market Skepticism

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.

VolitionRX Business Overview & Revenue Model

Company Description

VolitionRX (VNRX) is a biotechnology company specializing in the development and commercialization of simple, easy-to-use, cost-effective blood tests designed to help diagnose a range of cancers and other diseases. Operating primarily in the healthcare and diagnostics sectors, the company's core product line revolves around its proprietary Nucleosomics technology, which identifies and measures nucleosomes in the bloodstream, providing valuable insights into various disease states.

How the Company Makes Money

VolitionRX generates revenue primarily through the sale of its diagnostic tests, leveraging its Nucleosomics technology to offer innovative solutions for early disease detection. The company's revenue model involves selling these diagnostic products to healthcare providers, laboratories, and potentially through partnerships with larger corporations in the medical diagnostics field. Revenue is also supplemented by collaborations with research institutions and licensing agreements, where VolitionRX partners with other entities to co-develop or distribute their technology, thereby expanding their market reach and sharing in the resulting profits.

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	1.31M	1.23M	775.30K	306.39K	90.03K	13.43K
Gross Profit	1.31M	1.23M	775.30K	-882.03K	90.03K	13.43K
EBITDA	-22.61M	-25.62M	-34.04M	-29.24M	-25.69M	-19.23M
Net Income	-24.02M	-26.97M	-35.32M	-30.27M	-26.97M	-20.48M
Balance Sheet
Total Assets	8.52M	9.40M	27.95M	18.30M	27.49M	26.15M
Cash, Cash Equivalents and Short-Term Investments	2.60M	3.26M	20.73M	10.87M	20.58M	19.44M
Total Debt	7.37M	5.82M	5.86M	4.97M	4.02M	4.44M
Total Liabilities	37.55M	35.51M	36.66M	21.42M	9.77M	9.86M
Stockholders Equity	-27.77M	-24.91M	-7.80M	-2.57M	17.94M	16.34M
Cash Flow
Free Cash Flow	-22.35M	-26.47M	-19.15M	-16.85M	-21.83M	-18.41M
Operating Cash Flow	-21.85M	-25.89M	-18.06M	-15.28M	-20.85M	-16.46M
Investing Cash Flow	-496.85K	-573.85K	-1.08M	-1.57M	-973.56K	-1.65M
Financing Cash Flow	12.53M	8.66M	28.98M	6.94M	22.86M	20.62M

VolitionRX Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.77
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VNRX, the sentiment is Positive. The current price of 0.77 is above the 20-day moving average (MA) of 0.69, above the 50-day MA of 0.57, and above the 200-day MA of 0.61, indicating a bullish trend. The MACD of 0.08 indicates Negative momentum. The RSI at 57.80 is Neutral, neither overbought nor oversold. The STOCH value of 49.27 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for VNRX.

VolitionRX Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ENZB	60 Neutral	$35.71M	―	-13.95%	―	―	―
Sector *	59 Neutral	£5.95B	9.22	-57.69%	4.67%	15.15%	-8.16%
VNRX	53 Neutral	$79.11M	―	138.92%	―	64.15%	41.65%
BNR	50 Neutral	$32.93M	―	-37.15%	―	-0.26%	60.09%
BDSX	43 Neutral	$36.68M	―	-1454.41%	―	35.76%	47.48%
BIAF	42 Neutral	$7.50M	―	-290.85%	―	78.40%	22.41%
BNGO	41 Neutral	$11.07M	―	-127.82%	―	-24.04%	84.11%

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.

The most recent analyst rating on (VNRX) stock is a Buy with a $2.50 price target. To see the full list of analyst forecasts on VolitionRX stock, see the VNRX Stock Forecast page.

VolitionRX Signs New Capital Sales Agreement

On April 22, 2025, VolitionRx Limited entered a Capital On Demand Sales Agreement with JonesTrading Institutional Services LLC, allowing the company to sell up to $7.5 million of its common stock. This agreement replaces a prior arrangement with Jefferies LLC and aims to support VolitionRx’s research, product development, and potential strategic acquisitions. The termination of the previous agreement with Jefferies LLC, effective April 20, 2025, marks the end of the prior program, and no further sales will be made under it.

VolitionRX Files New Registration Statement with SEC

On April 4, 2025, VolitionRx Limited filed a New Registration Statement with the SEC to register 35,867,306 shares of its common stock, issuable upon the exercise of previously issued warrants. This move involves withdrawing these shares from a previous registration under a Shelf Registration Statement filed in 2021, streamlining the company’s regulatory filings.