Financial Data and Key Metrics - Revenue for the first nine months of 2024 reached $1 million, a 96% increase compared to the same period in 2023 [34] - Q3 2024 revenue grew by 187% year-on-year, reaching $475,000, driven by Nu Q Vet cancer test sales [34] - Nu Q Vet cancer test sales grew by 100% year-to-date and 307% in Q3 2024 compared to 2023 [34] - Over 110,000 Nu Q Vet cancer tests were sold in the first three quarters of 2024, nearly double the total sold in 2023 [8][34] - Operating expenses decreased by 28% in Q3 2024 compared to the same quarter in 2023 [35] - Cash used in operating activities was $5 4 million in Q3 2024, down 36% year-on-year [35] - Cash and cash equivalents at the end of Q3 2024 totaled approximately $5 4 million [36] Business Line Data and Key Metrics - Nu Q Vet cancer test is now available in 17 countries, with revenue growth accelerating quarter-on-quarter [10] - Year-to-date revenue growth for Nu Q Vet is 100%, with Q3 revenue up 307% compared to 2023 [10] - Revenue from veterinary kits and key components reached approximately $730,000 year-to-date [10] - Fujifilm Vet Systems achieved nearly 10% market penetration among veterinarians in Japan within a quarter of launching Nu Q Vet [11] - VetLab Poland and Heska (under Antech) have also made significant progress in distributing Nu Q Vet in their respective markets [12][13] Market Data and Key Metrics - Nu Q Vet is now available in 15 countries through Antech's distribution channels [13] - Japan represents a significant market for Nu Q Vet, with Fujifilm Vet Systems achieving rapid market penetration [11][45] - The U S market for Nu Q Vet is estimated at 25 million dogs, with a global opportunity of a similar size [48] Company Strategy and Industry Competition - The company aims to be cash-neutral by 2025, with significant progress made toward this goal through revenue growth and cost reduction [33][37] - The focus is on securing licensing deals in the human clinical space, with strong interest from key industry players in sepsis and oncology liquid biopsy [38][39] - The company is leveraging its success in veterinary diagnostics to commercialize human-focused technologies, including Nu Q NETs and Nu Q Cancer [40][41] - Non-dilutive funding from the Walloon Region, Belgium, and anticipated future funding support the company's financial strategy [36][37] Management Commentary on Operating Environment and Future Outlook - Management highlighted the strong progress in revenue growth and cost reduction, positioning the company well for cash neutrality in 2025 [33][37] - The company is optimistic about the potential for licensing deals in the human space, which could provide significant milestone payments and ongoing revenue [40][51] - The Nu Q NETs test for sepsis has generated significant interest, with potential to be a game-changer in sepsis management [28][31] - The company is exploring opportunities to include Nu Q Cancer tests in national lung cancer screening programs, particularly in Taiwan and other Asian markets [21][51] Other Important Information - The company welcomed new board members, Timothy Still and Dr Ethel Rubin, who bring extensive experience in the diagnostics sector [42] - The company is actively publishing scientific papers and presenting at conferences to strengthen its data room and support licensing discussions [30][31] - The feline testing milestone for Nu Q Vet is still in progress, with ongoing optimization for lower nucleosome levels in cats [78][80] Q&A Session Summary Question: Market dynamics and penetration in Japan - Fujifilm Vet Systems has achieved nearly 10% penetration among veterinarians in Japan, with strong marketing and distribution efforts [44][45] - Japan is a significant market, comparable to a large U S state like California, with high spending on pet care [45] Question: Revenue guidance and growth potential - Revenue growth is strong but can be lumpy due to the nature of distributor stocking and sell-through [47][63] - The company expects to ramp up to millions of tests annually, with a target market of 25 million dogs in the U S and a similar opportunity globally [48][49] Question: Cash neutrality and business segment self-sufficiency - The goal is for each business pillar to support itself through revenue and licensing deals, with significant progress made toward cash neutrality [54][55] - Licensing deals in the human space are expected to contribute to cash flow neutrality in 2025 [55][56] Question: Cost reduction progress - Operating expenses have been reduced by 28% in Q3 2024, with further reductions expected [57][58] - Approximately half of the $10 million cost-cutting program has been implemented, with full savings expected in 2025 [68][69] Question: Feline testing progress - Feline testing is still in development, with optimization for lower nucleosome levels in cats nearing completion [78][80] - Clinical utility studies for feline testing are expected to follow once the technical challenges are resolved [80] Question: Data rooms and licensing discussions - The company is using ShareVault to track data room activity, with significant interest from large diagnostic and oncology players [72][74] - Licensing discussions are progressing well, with potential for milestone payments and ongoing revenue from human-focused deals [74][75] Question: Upcoming data publications and presentations - Two large publications on sepsis are expected to be submitted by the end of Q4 2024 and early Q1 2025 [83] - Additional papers on oncology, particularly lung cancer, are also in progress [85]

Financial Performance - Total revenues for Q3 2024 reached $474.5 million, a significant increase of 187% compared to $165.2 million in Q3 2023[17]. - Product revenues surged to $406.1 million in Q3 2024, up 218% from $127.5 million in Q3 2023[17]. - For the nine months ended September 30, 2024, total revenues increased to $1,041,854, a 96% increase from $531,329 for the same period in 2023[149]. - Total revenues for the three months ended September 30, 2024, were $474,522, a significant increase of over 100% compared to $165,211 for the same period in 2023, primarily driven by sales of the Nu.Q® Vet Cancer Test[136]. Losses and Deficits - The accumulated deficit increased to $(223,750,970) from $(202,576,507), reflecting a worsening of approximately 10.4%[16]. - Net loss attributable to VolitionRx Limited stockholders was $(5.82) million in Q3 2024, compared to $(8.37) million in Q3 2023, showing a reduction in losses[17]. - The net loss for the nine months ended September 30, 2024, was approximately $21.4 million, compared to a net loss of $26.9 million for the same period in 2023, reflecting a 20% improvement[157]. - The company has not attained profitable operations and is dependent on obtaining external financing to continue its operational and strategic plans[158]. Cash and Assets - As of September 30, 2024, total current assets decreased to $6,800,941 from $21,854,095 as of December 31, 2023, representing a decline of approximately 68.9%[16]. - Cash and cash equivalents significantly dropped to $5,414,146 from $20,729,983, a decrease of about 73.9%[16]. - The total assets decreased to $12,680,255 from $27,950,498, a decline of approximately 54.5%[16]. - As of September 30, 2024, the company had cash and cash equivalents of $5.4 million, a decrease from $10.8 million at the end of the previous period[23]. Expenses and Cost Management - Operating loss decreased to $(5.87) million in Q3 2024, compared to $(8.65) million in Q3 2023, reflecting improved operational efficiency[17]. - Research and development expenses were $3.47 million in Q3 2024, down from $4.65 million in Q3 2023, indicating a focus on cost management[17]. - Total operating expenses decreased to $6.34 million in Q3 2024 from $8.82 million in Q3 2023, highlighting effective cost control measures[17]. - The company recognized depreciation expenses of $815,824 and $792,232 for the nine-month periods ended September 30, 2024, and September 30, 2023, respectively, reflecting a year-over-year increase of approximately 3.9%[12]. Financing and Capital Structure - The company plans to address its financial challenges by obtaining additional financing through debt or equity transactions and securing grant funds[41]. - The company generated net proceeds from issuances of common stock totaling $6.6 million during the nine months ended September 30, 2024, compared to $25.8 million in the same period of 2023[23]. - The company raised net proceeds of $6.4 million from the 2024 Equity Capital Raise, which included the issuance of 9,170,000 shares of common stock and various warrants[58]. - The company may seek additional capital through the sale of debt or equity securities, which could dilute existing stockholders' ownership[160]. Stock and Warrants - The total number of outstanding Series A and Series B common stock warrants is 25,836,364 with a weighted average exercise price of $0.57[66]. - The total intrinsic value of warrants outstanding as of September 30, 2024, is $nil, indicating no current value for the warrants[72]. - Stock-based compensation expense related to warrants was $25,447 for the nine months ended September 30, 2023, compared to $5,238 for the same period in 2024, reflecting a decrease[72]. - The total number of options outstanding as of September 30, 2024, is 4,662,748, with a weighted average exercise price of $3.88[72]. Research and Development - The company has patented technologies that utilize nucleosomes and transcription factors as biomarkers for early disease detection, focusing on various life-altering diseases[118]. - The company offers a range of tests, including Nu.Q® Vet for cancer screening in dogs, and Nu.Q® Cancer for monitoring disease progression and treatment response[119]. - Research and development expenses decreased to $3.5 million for the three months ended September 30, 2024, down 25% from $4.7 million in the same period in 2023, due to reduced clinical trial activity and lower personnel expenses[138]. - Research and development expenses decreased by 21% to $11,819,106 from $15,007,623 for the nine months ended September 30, 2023[150]. Future Outlook - The company expects to rely on future financing through licensing, distribution rights, and equity or debt securities to fund its strategic plan, as it has not attained profitable operations[132]. - The Company has implemented short-term cash preservation and cost-saving initiatives to mitigate substantial doubt about its ability to continue as a going concern[43]. - The company has not generated significant revenues and expects to incur further losses in the future, particularly from the development of clinical-stage diagnostic tests[41].

Core Insights - VolitionRx Limited reported significant growth in revenue and product sales for the third quarter of 2024, highlighting the success of its Nu.Q® Vet Cancer Tests and advancements in human diagnostic tests [2][4][3] Financial Performance - Year-to-date revenue reached $1 million in 2024, representing a 96% increase compared to the previous year [4] - Third-quarter revenue was $475,000, up 187% year-over-year [4] - Nu.Q® Vet revenue doubled year-to-date and surged 307% in the third quarter compared to the same periods in 2023 [4] - Operating cash usage decreased by 36% year-over-year to $5.4 million in the third quarter [4] - Cash and cash equivalents as of September 30, 2024, totaled approximately $5.4 million [4] - The company received a commitment of over $2.2 million in non-dilutive funding from Belgian agencies, with more expected in Q1 2025 [4] Product and Market Developments - Over 110,000 Nu.Q® Vet Cancer Tests were sold in the first three quarters of 2024, expanding access to 17 countries [2][3] - Positive data from studies involving over 3,000 sepsis patients were showcased at a major intensive care conference, indicating the potential of Nu.Q® NETs in sepsis management [3][2] - The company is focused on securing its first licensing deal in the human clinical space, with ongoing discussions with key industry players [3] Corporate Governance - The Board of Directors was strengthened with the appointment of Timothy Still as Chair and Dr. Ethel Rubin as Independent Director, both bringing extensive experience in the diagnostic sector [2]

Core Points - VolitionRx Limited will host a conference call on November 15, 2024, at 8:30 a.m. U.S. Eastern Time to discuss its Q3 2024 financial and operating results, along with a business update [1][2]. Company Overview - Volition is a multi-national company focused on advancing the science of epigenetics, aiming to save lives and improve outcomes for people and animals with life-altering diseases through earlier detection and monitoring [4]. - The company is developing and commercializing cost-effective blood tests for diagnosing and monitoring various diseases, including certain cancers and conditions associated with NETosis, such as sepsis [5]. Research and Development - Volition's R&D activities are primarily based in Belgium, with additional innovation laboratories and offices located in the U.S., London, and Singapore [6].

Core Insights - VolitionRx Limited has appointed Timothy Still as Chairman of its board of directors, effective November 6, 2024, bringing over 35 years of experience in medical diagnostics and digital health [1][2][3] Company Overview - Volition is a multi-national company focused on advancing the science of epigenetics, dedicated to improving outcomes for people and animals through earlier detection and monitoring of life-altering diseases [5][6] - The company is developing simple, cost-effective blood tests aimed at diagnosing and monitoring various diseases, including cancers and conditions associated with NETosis, such as sepsis [6][4] Leadership and Experience - Timothy Still has held significant leadership roles in various medical technology companies, including President and CEO of Sense Biodetection, and has a strong track record in guiding companies from R&D to market readiness [2][3] - Cameron Reynolds, President and Group CEO of Volition, expressed enthusiasm about Still's appointment, highlighting his extensive experience in the diagnostic sector [3] Strategic Vision - Timothy Still emphasized the potential of Volition's epigenetic technology to significantly impact global healthcare by improving disease detection and treatment monitoring [3] - The company aims to leverage Still's strategic advice and leadership to drive its next phase of growth [3]

HENDERSON, Nev., Oct. 31, 2024 /PRNewswire/ -- VolitionRx Limited (NYSE AMERICAN: VNRX) ("Volition"), a multi-national epigenetics company, has published a report, from its 'NETs in sepsis management' symposium at ESICM Lives 2024 last month, which concluded that Nu.Q® NETs could be used to predict patients at greater risk of deteriorating from sepsis.The symposium explored research findings from three large, independent studies carried out at centers of excellence in France, Germany, and the Netherlands, i ...

Core Insights - The upcoming webinar on October 21, 2024, will focus on the extensive studies regarding the use of Nu.Q® NETs in sepsis management, involving over 3000 patients and more than 14,000 samples [1][2] - Volition's technology aims to enhance clinical practice in sepsis management by quantifying H3.1 nucleosomes, which are critical in predicting organ failure [3] Company Overview - Volition is a multinational company dedicated to advancing epigenetics and developing cost-effective blood tests for diagnosing and monitoring diseases, including cancer and sepsis [5][6][7] - The company emphasizes the importance of early diagnosis and monitoring to improve patient outcomes and quality of life [7] Technology and Research - The Nu.Q® NETs technology quantifies circulating H3.1 nucleosomes in the bloodstream, serving as a surrogate marker for Neutrophil Extracellular Traps (NETs), which can lead to severe health issues when elevated [3] - Research findings from independent studies will be highlighted in the webinar, showcasing the potential of Nu.Q® NETs in clinical settings [2][3] Event Details - The webinar will be hosted by Soo Romanoff from Edison Group and will include insights from Volition's Chief Medical Officer and Chief Commercial Officer [4] - Registration for the event is available, and it will be recorded for on-demand access [4]

Core Insights - VolitionRx Limited is hosting a symposium at ESICM Lives 2024 in Barcelona on October 7, 2024, focusing on the use of Nu.Q® NETs for sepsis management [1][2] - The session will be chaired by Professor Djillali Annane, highlighting the potential clinical applications of Volition's Nu.Q® NETs H3.1 assay [2] - Research indicates that elevated levels of H3.1 nucleosomes could be critical in predicting organ failure and improving sepsis management [3] Company Overview - Volition is a multi-national epigenetics company dedicated to advancing early detection and monitoring of diseases, including sepsis [6][7] - The company is developing cost-effective blood tests aimed at diagnosing and monitoring various diseases, with a focus on improving patient outcomes [7] - Volition's research and development activities are based in Belgium, with additional offices in the U.S., London, and Singapore [8] Industry Context - Sepsis is identified as the leading cause of death in hospitals globally, accounting for at least 11 million deaths annually [5] - The symposium at ESICM Lives 2024 will gather experts from over 100 countries, emphasizing the global importance of advancements in sepsis management [5]

Core Points - VolitionRx Limited has appointed Dr. Ethel Rubin as an independent director effective September 30, 2024, and she will also serve on the Audit Committee and Compensation Committee [1][2][3] Company Overview - VolitionRx is a multi-national epigenetics company focused on advancing the science of epigenetics to improve outcomes for people and animals with life-altering diseases through earlier detection and monitoring [4][5] - The company is developing simple, cost-effective blood tests aimed at diagnosing and monitoring various diseases, including cancers and conditions associated with NETosis, such as sepsis [5][6] Leadership and Expertise - Dr. Ethel Rubin brings over 20 years of experience in the life sciences sector, having held leadership roles in organizations such as BioFortis, CSA Medical, and Medtronic, contributing to the launch of over 25 commercial products [2][3] - Guy Innes, Interim Chair of Volition, expressed confidence in Dr. Rubin's ability to support the company's commercialization efforts for its epigenetic solutions [3] Technology and Market Potential - Volition's Nu.Q® technology, which is already generating revenue in the animal health sector, has potential applications in human health for early detection and monitoring of diseases like cancer and sepsis [3][5]

Core Insights - VolitionRx Limited reported significant growth in revenue and product sales in the first half of 2024, indicating strong market demand for its Nu.Q® Vet Cancer Test and ongoing advancements in its product pipeline [2][4]. Financial Performance - Revenue for the second quarter of 2024 reached $396,000, an increase of 83% compared to the same period last year [4] - Total revenue for the first half of 2024 was $567,000, reflecting a 55% increase year-over-year [4] - Operating expenses in the second quarter decreased by 24% compared to the prior year, as part of cost reduction measures targeting $10 million in annualized savings [4] - As of June 30, 2024, cash and cash equivalents amounted to approximately $6.0 million [4] - A registered direct offering completed post-quarter raised $7 million in gross proceeds, with potential additional proceeds of up to $14.5 million from milestone-linked warrants [4] Product Development and Market Expansion - The Nu.Q® Vet Cancer Test is now available in 17 countries, with over 60,000 tests sold in the first half of 2024, surpassing the total sales for the entire year of 2023 [2] - The company is actively engaging in commercial discussions with key players in the liquid biopsy, IVD, sepsis, and oncology sectors [2][3] - Progress has been made in preparing the Nu.Q® NETs product for sepsis and the Nu.Q® Lung Cancer and Capture-PCR™ technologies for licensing [3] Strategic Initiatives - The focus for the second half of 2024 includes negotiating the first licensing deal in the human diagnostics space, with PharmaVentures engaged as an advisor to assist in securing these deals [4]