VolitionRx Limited (NYSE American:VNRX), a biotechnology company specializing in in vitro diagnostics, has announced the availability of certain components of its oncology portfolio for out-licensing. The announcement was made today, and the company is providing a document detailing the assets to interested third parties, including through its licensing adviser, PharmaVentures Limited.
The document, which has been furnished as Exhibit 99.1 in a Current Report on Form 8-K, offers a brief introduction to the company's oncology assets. These assets are part of VolitionRx's strategic initiative to collaborate with other entities in the healthcare sector.
The information contained within the document is intended for potential licensees to evaluate the opportunity to license VolitionRx's proprietary technology and products.
VolitionRx, headquartered in Henderson, Nevada, operates under the organization name 03 Life Sciences and is incorporated in Delaware. The company has a history of developing innovative diagnostic solutions, with a focus on the early detection of cancer.
The information provided in the document is not deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, nor is it subject to the liabilities of that section. It will also not be incorporated by reference into any registration statement or other filing under the Securities Act of 1933, unless specifically referenced in such filing.
This development comes as VolitionRx continues to expand its reach in the diagnostics market, seeking partnerships that can leverage its research and development in cancer diagnostics. The move to out-license parts of its oncology portfolio could potentially allow the company to further capitalize on its scientific advancements while enabling other companies to bring new diagnostic solutions to market.
In other recent news, VolitionRx Limited reported an 83% year-over-year increase in Q2 2024 revenue, amounting to approximately $396,000. The multi-national epigenetics company also announced significant strides in its product offerings, including the successful launch of the Nu.Q Vet cancer test. The test outpaced the previous year's total sales within the first half of 2024 alone.
VolitionRx is also making progress in negotiating its first licensing deal in the human health sector, with PharmaVentures facilitating potential agreements. The company reported promising preliminary results from clinical trials for oncology and sepsis and raised approximately $21.5 million through a registered direct offering of common stock and warrants.
In future expectations, VolitionRx aims to become cash flow positive by 2025 and is implementing cost reduction measures. The company is optimistic about securing a commercial deal soon, given the significant interest from potential partners. Furthermore, VolitionRx plans to present a paper focusing on lung cancer at ESMO in September 2024 and will report clinical study results at the European Society of Intensive Care Medicine conference in October.
InvestingPro Insights
As VolitionRx Limited (NYSE American:VNRX) explores strategic collaborations through out-licensing its oncology assets, recent data from InvestingPro provides a snapshot of the company's financial health and market performance. Analysts are optimistic about sales growth for VolitionRx in the current year, which aligns with the company's expansion efforts in the diagnostics market. This positive outlook is bolstered by an impressive revenue growth of 88.32% over the last twelve months as of Q2 2024, according to InvestingPro Data. Moreover, two analysts have revised their earnings upwards for the upcoming period, indicating potential confidence in the company's future performance.
However, it's worth noting that VolitionRx operates with a moderate level of debt and has not been profitable over the last twelve months. The company's short-term obligations also exceed its liquid assets, which could present challenges in the near term. Despite these concerns, VolitionRx has experienced a strong return over the last month, with a 13.84% price total return, reflecting a positive market sentiment that may interest potential licensees evaluating the company's proprietary technology and products.
For investors and interested parties looking to delve deeper into VolitionRx's financials and market prospects, additional InvestingPro Tips are available to provide further guidance on the company's valuation and performance metrics. Currently, there are 9 additional tips listed on InvestingPro for VolitionRx, accessible at https://www.investing.com/pro/VNRX, offering a comprehensive analysis for those considering the company's out-licensing opportunities.
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