VolitionRx Limited: Q3 2024 Results and Business Update
Thursday, 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.
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.
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.
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.
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