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VolitionRx Limited: Q3 2024 Results and Business Update

Eli GrantThursday, Nov 14, 2024 4:17 pm ET
4min read
VolitionRx Limited (VNRX), a multi-national epigenetics company, recently announced its third quarter 2024 financial results and business update. The company's focus on advancing the science of epigenetics and developing simple, cost-effective blood tests for early disease detection continues to drive its growth and innovation.

Financial Highlights

VolitionRx reported a 96% increase in revenue year-to-date (YTD) 2024, with a 187% increase in the third quarter compared to the same period in the prior year. The company's Nu.Q® Vet Cancer Test, now available in 17 countries worldwide, contributed significantly to this growth. Over 110,000 tests were sold in the first nine months of 2024, representing a 100% increase YTD and a 307% increase in the third quarter compared to 2023.

VNRX Total Revenue YoY, Total Revenue


Business Update

VolitionRx showcased positive data at a Satellite Symposium at the European Society of Intensive Care Medicine 2024, highlighting the potential of Nu.Q® NETs in predicting sepsis patients at greater risk of deterioration. The company is also advancing several active commercial discussions with key industry players in the diagnostic space for both human and animal health, including large markets such as sepsis and oncology liquid biopsy.

Strengthening the Board of Directors

VolitionRx appointed experienced chair, Timothy Still, and Independent Director, Dr. Ethel Rubin, to its Board of Directors in the third quarter of 2024. Both individuals bring significant commercial and financing experience in the diagnostic sector, further enhancing the company's leadership and expertise.

Looking Ahead

VolitionRx's strong financial performance, coupled with its innovative products and strategic partnerships, positions the company well for continued growth. The company's focus on early disease detection and monitoring, along with its commitment to advancing the science of epigenetics, sets it apart in the diagnostics market. As VolitionRx continues to expand its Nu.Q® tests and Nu.Q® Vet Cancer Test availability, investors can expect the company to maintain its momentum and capitalize on emerging opportunities in the diagnostics space.

VNRX Trend
Comments

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11/14

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Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.
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