Volition(US:VNRX) Prnewswire·2024-11-14 21:10Core 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]