VolitionRX (VNRX)
:VNRX
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VolitionRX
(VNRX)
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Rating:44Neutral
Price Target:
$2.50
▲(1288.89% Upside)
Action:ReiteratedDate:05/05/26
The score is primarily constrained by weak financial fundamentals (large losses, ongoing cash burn, and negative equity). Technicals also reflect a strong downtrend despite oversold readings. The earnings call was comparatively more constructive due to progress and cost reductions, but near-term funding and commercialization execution risks remain central.
Positive Factors
Capture‑Seq Breakthrough
The >99% pure ctDNA Capture‑Seq and >95% early‑stage detection in blinded tests provide a durable technological advantage for early cancer detection. This capability supports sustained partner interest, licensing potential, and differentiation in the growing liquid‑biopsy market if scaled and validated further.
Negative Factors
Negative Equity
Material negative shareholders' equity is a persistent balance‑sheet weakness that constrains strategic optionality. It heightens dilution risk, complicates debt capacity and counterparty confidence, and limits the company's ability to fund R&D or commercialization internally without recurring external financing well into the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Capture‑Seq Breakthrough
The >99% pure ctDNA Capture‑Seq and >95% early‑stage detection in blinded tests provide a durable technological advantage for early cancer detection. This capability supports sustained partner interest, licensing potential, and differentiation in the growing liquid‑biopsy market if scaled and validated further.
Read all positive factors
VolitionRX (VNRX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$19.26M
Dividend YieldN/A
Average Volume (3M)19.46M
Price to Earnings (P/E)―
Beta (1Y)0.28
Revenue Growth40.04%
EPS Growth30.25%
CountryUS
Employees85
SectorHealthcare
Sector Strength45
IndustryMedical - Diagnostics & Research
Share Statistics
EPS (TTM)-4.40
Shares Outstanding7,924,062
10 Day Avg. Volume55,156,196
30 Day Avg. Volume19,458,360
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)-0.80
Price to Sales (P/S)15.80
P/FCF Ratio-1.38
Enterprise Value/Market Cap1.20
Enterprise Value/Revenue13.39
Enterprise Value/Gross Profit13.39
Enterprise Value/Ebitda-1.17
Forecast
1Y Price Target
$40.00Price Target Upside22122.22% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)-1.97
Revenue Forecast (FY)$7.66M
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 V...
How the Company Makes Money
VolitionRx makes money primarily by commercializing its Nu.Q® nucleosome-based assays and related products. Revenue is generated through (1) sales of diagnostic tests and/or testing services where available (including sales made via partners that ...
VolitionRX Earnings Call Summary
Earnings Call Date:Mar 31, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 13, 2026
Earnings Call Sentiment Positive
The call conveyed substantial scientific and commercial progress across multiple pillars—CE‑marked product revenue, government‑backed interventional study inclusion, a >99% pure ctDNA Capture‑Seq breakthrough, new partner agreements, veterinary automation advances, and multiple peer‑reviewed publications. At the same time, the company remains in early commercialization with a small absolute revenue base ($1.7M), lumpy revenues, significant cash burn ($19.7M net cash used) and a low year‑end cash balance partially addressed by subsequent financings. Scaling depends on successful licensing, reimbursement (notably France expected Q4 2026) and larger validation studies. On balance, the call emphasized transformative technology and clear commercialization traction while acknowledging near‑term execution and funding risks.Positive Updates
Strong Revenue Growth in 2025
Full year 2025 revenue of $1.7M, up 40% year‑over‑year; Q4 2025 year‑over‑year growth of 133%. First revenue recognized from CE‑marked Nu.Q NETs product in Europe.
Negative Updates
Early‑Stage Commercialization and Lumpy Revenue
Company remains at an early commercialization stage with revenues described as 'fairly lumpy' and difficult to predict quarter‑to‑quarter. Management declined to provide 2026 revenue guidance given timing uncertainties for commercialization and reimbursement ramp.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Revenue Growth in 2025
Full year 2025 revenue of $1.7M, up 40% year‑over‑year; Q4 2025 year‑over‑year growth of 133%. First revenue recognized from CE‑marked Nu.Q NETs product in Europe.
Read all positive updates
Company Guidance
The company gave limited formal guidance but laid out several near-term expectations and key metrics: full-year 2025 revenue was $1.7M (up 40% YoY) with Q4 growth of 133%, operating expenses fell $4.8M (down 17% vs. 2024) and net cash used in operating activities was $19.7M (vs. $25.9M in 2024, a 24% reduction); cash and cash equivalents were about $1.1M at year‑end, with subsequent receipts of ~$5.4M (ATM) and $1.9M (convertible note) plus ~ $2.3M nondilutive funding, and total nondilutive support to date >$25M. Management said it will not provide revenue guidance for 2026 but expects to: (a) continue securing licensing deals (discussions with ~10 leading companies and additional agreements expected during 2026), (b) collect a $5M vet‑market milestone this year, (c) seek reimbursement and routine clinical use of Nu.Q Cancer in France by Q4 2026, and (d) further cut cash operating expense run‑rate (targeting an additional ~25–30% reduction over the year).VolitionRX Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
22
Negative
Cash Flow
15
Very Negative
| Breakdown | Mar 2026 | Mar 2025 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.73M | 1.23M | 775.30K | 306.39K | 90.03K |
| Gross Profit | 1.73M | 1.23M | 775.30K | 306.39K | 90.03K |
| EBITDA | -19.80M | -25.58M | -34.04M | -29.24M | -25.69M |
| Net Income | -23.36M | -26.97M | -35.32M | -30.27M | -26.81M |
Balance Sheet | |||||
| Total Assets | 6.90M | 9.40M | 27.95M | 18.30M | 27.49M |
| Cash, Cash Equivalents and Short-Term Investments | 1.12M | 3.26M | 20.73M | 10.87M | 20.58M |
| Total Debt | 11.46M | 5.82M | 5.86M | 4.97M | 4.02M |
| Total Liabilities | 42.49M | 35.51M | 36.66M | 21.42M | 9.77M |
| Stockholders Equity | -34.25M | -24.91M | -7.80M | -2.57M | 17.94M |
Cash Flow | |||||
| Free Cash Flow | -19.77M | -26.47M | -19.15M | -16.85M | -21.83M |
| Operating Cash Flow | -19.68M | -25.89M | -18.06M | -15.28M | -20.85M |
| Investing Cash Flow | -89.56K | -573.85K | -1.08M | -1.57M | -973.56K |
| Financing Cash Flow | 17.09M | 8.66M | 28.98M | 6.94M | 22.86M |
VolitionRX Technical Analysis
Neutral
0.18
Price Trends
0.20
Negative
0.24
Negative
0.41
Negative
Market Momentum
>-0.01
Negative
46.72
Neutral
81.61
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VNRX, the sentiment is Neutral. The current price of 0.18 is below the 20-day moving average (MA) of 0.18, below the 50-day MA of 0.20, and below the 200-day MA of 0.41, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 46.72 is Neutral, neither overbought nor oversold. The STOCH value of 81.61 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for VNRX.
VolitionRX Risk Analysis
VolitionRX disclosed 35 risk factors in its most recent earnings report. VolitionRX reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
VolitionRX Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
57 Neutral | $55.19M | 17.53 | -2.78% | ― | 29.77% | 90.12% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $13.09M | -0.32 | -56.22% | ― | -7.37% | 94.04% | |
50 Neutral | $111.99M | -1.46 | -1760.83% | ― | 24.08% | 32.65% | |
46 Neutral | $11.32M | -0.95 | 80.66% | ― | -28.57% | 28.35% | |
45 Neutral | $179.81M | -2.82 | -9.93% | ― | 4.69% | 84.60% | |
44 Neutral | $19.26M | -1.17 | 76.82% | ― | 40.04% | 30.25% |
* Healthcare Sector Average
VNRX
VolitionRX
2.39
-7.61
-76.10%
TRIB
Trinity Biotech
0.62
-0.19
-23.58%
PRPO
Precipio
29.70
23.39
370.68%
BNGO
BioNano Genomics
1.24
-2.71
-68.61%
BNR
Burning Rock Biotech
17.19
14.77
610.33%
BDSX
Biodesix
11.27
1.78
18.76%
VolitionRX Corporate Events
Regulatory Filings and ComplianceShareholder MeetingsStock Split
VolitionRx Enacts One-for-Twenty Reverse Stock Split
Neutral
Apr 28, 2026
At a special meeting held on March 31, 2026, VolitionRx stockholders authorized the board of directors to implement a reverse stock split of the company’s common shares at a ratio to be set within an approved range. The board subsequently se...
Business Operations and StrategyShareholder MeetingsStock Split
VolitionRx Sets One-for-Twenty Reverse Stock Split
Neutral
Apr 17, 2026
At a special meeting held on March 31, 2026, shareholders of VolitionRx Limited authorized the board to implement a reverse stock split of its common stock, and the board has now set the ratio at one-for-twenty. The move, linked in part to financi...
Delistings and Listing ChangesPrivate Placements and FinancingRegulatory Filings and ComplianceShareholder MeetingsStock Split
VolitionRx Shareholders Approve Stock Issuance and Reverse Split
Neutral
Apr 1, 2026
On March 31, 2026, VolitionRx Limited shareholders met in London and approved the issuance of additional common shares exceeding 20% of shares outstanding to Lind Global Asset Management XII LLC, in order to comply with NYSE American listing requi...
Private Placements and Financing
VolitionRx Issues Shares to Satisfy Convertible Note Obligations
Neutral
Feb 20, 2026
VolitionRx Limited has been servicing a $7.5 million senior secured convertible promissory note issued to Lind Global Asset Management XII LLC under a securities purchase agreement dated May 15, 2025 and amended January 7, 2026. On January 16, 202...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.