VolitionRX Ltd. ( (VNRX) ) has released its Q4 earnings. Here is a breakdown of the information VolitionRX Ltd. presented to its investors.
VolitionRx Limited is a multinational company specializing in epigenetics, focusing on developing and commercializing blood tests for early detection and monitoring of diseases such as cancer and sepsis.
In its latest financial report for the fiscal year 2024, VolitionRx Limited highlighted significant achievements, including increased sales of its Nu.Q Vet Cancer Test and expanded global access to its products. The company also completed several independent studies showcasing the value of its Nu.Q platform in oncology and sepsis.
Financially, VolitionRx reported a 59% increase in revenue, reaching $1.2 million, with notable growth in its Nu.Q Vet and Discover revenues. The company also successfully reduced operating expenses by 23% and secured additional funding post-year-end. Strategic advancements include ongoing commercial discussions for licensing deals in the human diagnostic market.
Looking ahead, VolitionRx aims to achieve cash neutrality in 2025 by matching income with expenditures, including potential licensing receipts. The company is optimistic about signing multiple licensing deals for human indications, building on its progress in the veterinary space.