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VolitionRX (VNRX)
:VNRX
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VolitionRX
(NYSE MKT:VNRX)
Rating:45Neutral
Price Target:
$0.50
▲(0.00%Upside)
Positive Factors
Licensing Deals
VolitionRx is engaged in discussions with over 10 global diagnostic and pharmaceutical companies to secure lucrative licensing deals.
Product Expansion
Nu.Q Vet is now available for purchase in over 20 countries worldwide, indicating a successful product expansion.
Revenue Growth
Revenue grew 44% in 1Q25, signaling strong financial performance.
Negative Factors
Clinical Development
There is a risk of failure in clinical development that could impact future growth.
Funding Risk
Going concern risk remains a concern despite securing a convertible loan note with $6.25M in gross proceeds.
Risks
Risks include failure in clinical development, failure to secure license agreements, and going concern risk.
VolitionRX (VNRX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$50.29M
Dividend YieldN/A
Average Volume (3M)221.75K
Price to Earnings (P/E)―
Beta (1Y)0.41
Revenue Growth64.15%
EPS Growth41.65%
CountryUS
Employees85
SectorHealthcare
Sector Strength42
IndustryMedical - Diagnostics & Research
Share Statistics
EPS (TTM)-0.06
Shares Outstanding103,022,675
10 Day Avg. Volume287,356
30 Day Avg. Volume221,751
Financial Highlights & Ratios
PEG Ratio-0.14
Price to Book (P/B)-2.00
Price to Sales (P/S)0.00
P/FCF Ratio-1.96
Enterprise Value/Market Cap0.85
Enterprise Value/Revenue8.86
Enterprise Value/Gross Profit102.72
Enterprise Value/Ebitda-0.41
Forecast
1Y Price Target
$2.50Price Target Upside400.00% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
VolitionRX Business Overview & Revenue Model
Company DescriptionVolitionRX (VNRX) is a life sciences company focused on developing blood-based diagnostic tests for various types of cancer and other significant diseases. The company operates primarily in the biotechnology sector and aims to provide non-invasive, accurate, and cost-effective diagnostic solutions through its proprietary Nucleosomics technology, which detects fragments of chromosomes, called nucleosomes, in the bloodstream.
How the Company Makes MoneyVolitionRX generates revenue through the commercialization of its diagnostic tests, which are designed to be used in clinical settings for the early detection and monitoring of cancer and other diseases. The company earns money by licensing its technology to healthcare providers and laboratories, partnering with pharmaceutical companies for the development and distribution of its tests, and through collaborations with research institutions. Additionally, VolitionRX may receive grants and funding for research and development initiatives. The company's revenue model relies heavily on the successful validation and regulatory approval of its diagnostic tests, which can influence its ability to penetrate the healthcare market and establish partnerships.
VolitionRX Earnings Call Summary
Earnings Call Date:May 15, 2025
(Q1-2025)
| % Change Since: 11.11%|
Next Earnings Date:Aug 13, 2025
Earnings Call Sentiment Positive
The earnings call presented several positive developments, including significant revenue growth, reduced operating expenses, and progress in licensing and commercialization efforts across various segments. However, challenges such as a decline in cash position and uncertainties in revenue predictions were noted. Overall, the positive highlights outweigh the lowlights, indicating a promising outlook for the company.Q1-2025 Updates
Positive Updates
Significant Revenue Growth
VolitionRX reported a 44% increase in revenue compared to Q1 2024, including the first revenue recorded for sales of human products.
Operating Expenses Reduction
Total operating expenses for the quarter declined 35% compared to Q1 2024, reflecting cost reductions across all spending categories.
Successful Licensing Discussions
VolitionRX is in confidential discussions with over 10 companies to license their products, with seven companies having a combined market value exceeding $600 billion.
Nu.Q Platform Developments
The company is progressing in the commercialization of their Nu.Q platform in the human diagnostic market, with potential market opportunities in cancer and sepsis diagnostics.
First Revenue from CE Marked Product
VolitionRX recorded its first revenue from sales of its CE Marked Nu.Q NETs automated product in Europe.
Expansion of Nu.Q Vet
Nu.Q Vet Cancer Test is expanding its global reach, with significant partnerships in place to enhance canine cancer screening.
Nu.Q Discover Revenue Potential
Nu.Q Discover biomarkers are being utilized in a human clinical study sponsored by a leading pharmaceutical company, expected to generate significant revenue.
Negative Updates
Cash Position Decline
Cash and cash equivalents at the end of the quarter totaled approximately $2.6 million compared to $3.3 million at the end of 2024.
Uncertainty in Revenue Predictions
Revenues remain lumpy and difficult to predict from one quarter to the next, leading to the decision not to provide revenue guidance for 2025.
Company Guidance
During VolitionRX Limited's First Quarter 2025 Earnings Conference Call, the company outlined significant financial progress and strategic goals for the year. Operating expenses were reduced by 35% compared to the first quarter of 2024, leading to a 48% decrease in net cash used in operating activities, which totaled $4.3 million. Revenue for the quarter was nearly $0.25 million, marking a 44% increase year-over-year, with the first revenue recorded from human product sales. Cash and cash equivalents were reported at $2.6 million. The company secured $2.3 million from a registered direct offering, $1.6 million in non-dilutive loan financing, and finalized a convertible loan note for $6.25 million for additional financial support. VolitionRX aims to achieve cash flow neutrality for the full year 2025 and is actively pursuing licensing discussions with over 10 companies, targeting a total addressable market of approximately $25 billion annually in cancer and sepsis diagnostics. The company is also making strides in the veterinary market and advancing its Nu.Q Discover program with collaborations in the pharmaceutical sector, which are expected to significantly contribute to revenue growth.VolitionRX Financial Statement Overview
Summary
VolitionRX faces significant financial challenges, with ongoing losses, negative equity, and cash flow issues. Despite some revenue growth, profitability has not been achieved, and financial stability is at risk due to high liabilities and negative equity. Measures to improve profitability and strengthen the balance sheet are critical.Income Statement
VolitionRX's financial performance is challenging, with consistently negative EBIT and net income over the past years. Despite revenue growth from $775,302 in 2023 to $1,233,511 in 2024, the company has not achieved profitability. The gross profit margin remains high at 100%, but the net profit margin is negative due to substantial operating expenses and EBIT losses.15
Very Negative
Balance Sheet
The balance sheet reflects financial instability, with negative stockholders' equity indicating financial distress. The debt-to-equity ratio is not meaningful due to negative equity, and the equity ratio is also negative. Total liabilities exceed total assets, suggesting potential solvency issues.10
Very Negative
Cash Flow
VolitionRX's cash flow situation is concerning, with consistently negative operating and free cash flows. The company has not generated positive free cash flow, indicating reliance on external financing. The operating cash flow to net income ratio is negative, reflecting cash burn without corresponding income.20
Very Negative
| Breakdown | |||||
| TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 1.31M | 1.23M | 775.30K | 306.39K | 90.03K | 13.43K | Gross Profit |
| 414.30K | -68.72K | 775.30K | -882.03K | 90.03K | 13.43K | EBIT |
| -18.64M | -27.02M | -35.99M | -31.78M | -28.33M | -21.25M | EBITDA |
| -17.54M | -25.62M | -34.04M | -29.24M | -25.69M | -19.23M | Net Income Common Stockholders |
| -24.02M | -26.97M | -35.32M | -30.27M | -26.97M | -20.48M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 2.60M | 3.26M | 20.73M | 10.87M | 20.58M | 19.44M | Total Assets |
| 8.52M | 9.40M | 27.95M | 18.30M | 27.49M | 26.15M | Total Debt |
| 1.84M | 5.82M | 5.86M | 4.97M | 4.02M | 4.44M | Net Debt |
| -763.81K | 2.56M | -14.87M | -5.89M | -16.56M | -15.00M | Total Liabilities |
| 29.27M | 35.51M | 36.66M | 21.42M | 9.77M | 9.86M | Stockholders Equity |
| -20.75M | -24.91M | -7.80M | -2.57M | 17.94M | 16.34M |
| Cash Flow | Free Cash Flow | ||||
| -22.11M | -26.17M | -19.15M | -16.85M | -21.83M | -18.41M | Operating Cash Flow |
| -21.85M | -25.89M | -18.06M | -15.28M | -20.85M | -16.46M | Investing Cash Flow |
| -496.85K | -573.85K | -1.08M | -1.57M | -973.56K | -1.65M | Financing Cash Flow |
| 12.52M | 8.66M | 28.98M | 6.94M | 22.86M | 20.62M |
VolitionRX Technical Analysis
Neutral
0.50
Price Trends
0.50
Negative
0.55
Negative
0.61
Negative
Market Momentum
>-0.01
Negative
51.86
Neutral
69.74
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VNRX, the sentiment is Neutral. The current price of 0.5 is above the 20-day moving average (MA) of 0.49, below the 50-day MA of 0.50, and below the 200-day MA of 0.61, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 51.86 is Neutral, neither overbought nor oversold. The STOCH value of 69.74 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for VNRX.
VolitionRX Risk Analysis
VolitionRX disclosed 35 risk factors in its most recent earnings report. VolitionRX reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
VolitionRX Peers Comparison
Overall Rating
UnderperformOutperform
Sector (53)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
53 Neutral | $5.22B | 3.32 | -45.04% | 2.83% | 16.81% | -0.27% | |
50 Neutral | $31.18M | ― | -12.94% | ― | ― | ― | |
45 Neutral | $50.29M | ― | 138.92% | ― | 64.15% | 41.65% | |
45 Neutral | $12.35M | ― | -127.82% | ― | -24.04% | 84.11% | |
42 Neutral | $7.83M | ― | -290.85% | ― | 78.40% | 22.41% | |
41 Neutral | $47.71M | ― | -1454.41% | ― | 35.76% | 47.48% | |
39 Underperform | $33.36M | ― | -51.22% | ― | -5.72% | 48.12% |
* Healthcare Sector Average
Performance Comparison
VNRX
VolitionRX
0.50
-0.23
-31.51%
ENZB
Enzo Biochem
0.59
-0.50
-45.87%
BNGO
BioNano Genomics
3.67
-52.13
-93.42%
BNR
Burning Rock Biotech
3.10
-4.39
-58.61%
BDSX
Biodesix
0.30
-1.04
-77.61%
BIAF
bioAffinity Technologies, Inc.
0.28
-2.09
-88.19%
VolitionRX Corporate Events
Private Placements and FinancingBusiness Operations and Strategy
VolitionRX Signs New Capital Sales Agreement
Neutral
Apr 22, 2025
On April 22, 2025, VolitionRx Limited entered a Capital On Demand Sales Agreement with JonesTrading Institutional Services LLC, allowing the company to sell up to $7.5 million of its common stock. This agreement replaces a prior arrangement with Jefferies LLC and aims to support VolitionRx’s research, product development, and potential strategic acquisitions. The termination of the previous agreement with Jefferies LLC, effective April 20, 2025, marks the end of the prior program, and no further sales will be made under it.
Regulatory Filings and Compliance
VolitionRX Files New Registration Statement with SEC
Neutral
Apr 4, 2025
On April 4, 2025, VolitionRx Limited filed a New Registration Statement with the SEC to register 35,867,306 shares of its common stock, issuable upon the exercise of previously issued warrants. This move involves withdrawing these shares from a previous registration under a Shelf Registration Statement filed in 2021, streamlining the company’s regulatory filings.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.