Volition(VNRX)2025-03-31 20:30Financial Data and Key Metrics Changes - In 2024, the company recorded 0.8 million, growing by 75% compared to the prior year [28] - Operating expenses were reduced by 23% year-on-year, with second-half operating expenses down 31% [30][34] - Net cash used in operating activities was 18.1 million in 2023 [31] Business Line Data and Key Metrics Changes - Approximately 120,000 NUQ VET cancer tests were sold in 2024, more than double the prior year [28] - Revenue from the NUQ Discover pillar was approximately 1.8 million in non-dilutive funding from Belgian institutions during 2024 [33] - Significant progress was made in clinical studies, with multiple large independent studies completed [10][36] Q&A Session Summary Question: Update on the feline cancer testing program - The feline cancer testing program is on track for completion later this year, with a milestone payment of $5 million expected upon completion [80] Question: Discussion on the Leon study and its implementation - The Leon study is expected to lead to prospective studies and potential implementation in screening regimens [85][90] Question: Insights on quarterly sales trends and outlook for 2025 - Sales were volatile due to large customers ordering in batches, but overall growth was solid with 120,000 tests sold [100][102] Question: Approach to managing financing risks - The company plans to maintain tight control over expenses and cash flows while focusing on licensing agreements [112] Question: Activity in data sharing and licensing agreements - The company has established data rooms for oncology and NETS, which have energized discussions with major companies [118][120]