Conference call to discuss financial and operational results
scheduled for Tuesday, August
15, at 8:30 a.m. U.S. Eastern
Time
HENDERSON, Nev., Aug. 14,
2023 /PRNewswire/ -- VolitionRx Limited (NYSE
AMERICAN: VNRX) ("Volition") today announced financial results and
a business update for the second quarter ended June 30, 2023. Volition management will host a
conference call tomorrow, August 15
at 8:30 a.m. U.S. Eastern Time to
discuss these results. Conference call details can be found
below.
"I am delighted to report that we submitted a Breakthrough
Device Designation Request to the FDA in June for our Nu.Q®
technology in relation to sepsis. This was a milestone moment in
our company's history and for the first time we are in active
discussions with the U.S. Food and Drug Administration. We believe
that our case is strong, and we look forward to reaching agreement
on a clear regulatory pathway to approval, for what we believe
would be a pioneering product."
"We continued making considerable progress with our Centers of
Excellence in Europe for Nu.Q®
NETs, with the first clinical paper resulting from one Center
already submitted for peer review and look forward to hosting a Key
Opinion Leader Roundtable Event focused on sepsis in September,"
commented Cameron Reynolds,
President and Group Chief Executive Officer of Volition.
"We are also getting closer to our goal of making our canine
cancer screening and monitoring test accessible worldwide, through
our current relationships, and through expected additional launches
in large markets later this year.
"I am pleased to report that in the first half of 2023 we have
already exceeded the total full year revenue we recorded in 2022
with total revenue to June
30th of $366,000.
Revenue for the Nu.Q® Vet Cancer Test grew five-fold over the prior
year, reflecting sales of the reference kits through our global
supply agreements."
Financial Highlights
- Cash and cash equivalents as of June 30,
2023, totaled approximately $19.7
million compared with $10.9
million at the end of 2022.
- Received approximately $17.6
million net of underwriter's fees and commissions in cash
through an underwritten public offering of its common stock in
June.
- Expect to receive a further $13
million in milestone payments from Heska Corporation
and additional significant non-dilutive funding from several
Belgian agencies.
Event: VolitionRx Limited Second Quarter 2023
Earnings and Business Update Conference
Call
Date: Tuesday, August 15, 2023
Time: 8:30
a.m. U.S. Eastern Time
U.S. & Canada Dial-in: 1-877-407-9716 (toll free)
U.K. Dial-in: 0 800 756 3429 (toll free)
Toll/International: 1-201-493-6779
Conference ID: 13740530
Cameron Reynolds, President and
Group Chief Executive Officer of Volition, will host the call along
with Terig Hughes, Group Chief Financial Officer, Dr. Tom Butera, Chief Executive Officer of Volition
Veterinary Diagnostics Development LLC, and Scott Powell, Executive Vice President, Investor
Relations. The call will provide an update on important events
which have taken place in the second quarter of 2023 and upcoming
milestones.
A live audio webcast of the conference call will also be
available on the investor relations page of Volition's corporate
website at https://ir.volition.com. In addition, a telephone replay
of the call will be available until August
29, 2023. The replay dial-in numbers are 1-844-512-2921
(toll-free) in the U.S. and Canada
and 1-412-317-6671 (toll) internationally. Please use replay pin
number 13740530.
About Volition
Volition is a multi-national epigenetics company powered by
Nu.Q®, its proprietary nucleosome quantification platform. Through
its subsidiaries, Volition is developing simple, easy to use, cost
effective blood tests to help diagnose and monitor a range of
life-altering diseases including some cancers and diseases
associated with NETosis such as sepsis and COVID-19. Early
diagnosis and monitoring have the potential to not only prolong the
life of patients but also improve their quality of life. The tests
are based on the science of Nucleosomics™, which is the practice of
identifying and measuring nucleosomes in the bloodstream or other
bodily fluid - an indication that disease is present.
Volition's research and development activities are centered in
Belgium, with an innovation
laboratory and office in the U.S. and additional offices in
London and Singapore.
The contents found at Volition's website address and YouTube are
not incorporated by reference into this document and should not be
considered part of this document. The addresses for Volition's
website and YouTube are included in this document as inactive
textual references only.
Media Enquiries:
Louise Batchelor/Debra Daglish, Volition,
mediarelations@volition.com, +44 (0)7557 774620
Safe Harbor Statement
Statements in this press release may be "forward-looking
statements" within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended, that concern matters that involve risks and
uncertainties that could cause actual results to differ materially
from those anticipated or projected in the forward-looking
statements. Words such as "expects," "anticipates," "intends,"
"plans," "aims," "targets," "believes," "seeks," "estimates,"
"optimizing," "potential," "goal," "suggests," "could," "would,"
"should," "may," "will" and similar expressions identify
forward-looking statements. These forward-looking statements relate
to, among other topics, Volition's expectations related to the
revenue opportunities and launches of product sales with Heska and
other counterparties to agreements, the timing, completion, success
and delivery of data from clinical studies, the receipt of
additional non-dilutive funding, the potential uses, benefits and
effectiveness of its Nucleosomics™ technology platform, including
the Nu.Q® NETs test and the Nu.Q® Vet Cancer Test, and the timing
and execution of Volition's strategy with the FDA. Volition's
actual results may differ materially from those indicated in these
forward-looking statements due to numerous risks and uncertainties,
including, without limitation, results of studies testing the
efficacy of its tests; a failure by the marketplace to accept
Volition's Nu.Q® NETs test, Nu.Q® Vet Cancer Test or other products
based on its Nucleosomics™ platform; Volition's failure to secure
adequate intellectual property protection; Volition's failure to
obtain necessary regulatory clearances or approvals to distribute
and market future products; Volition will face fierce competition
and its intended products may become obsolete due to the highly
competitive nature of the diagnostics and disease monitoring
markets and their rapid technological change; downturns in domestic
and foreign economies; and other risks, including those identified
in Volition's most recent Annual Report on Form 10-K and Quarterly
Reports on Form 10-Q, as well as other documents that Volition
files with the Securities and Exchange Commission. For instance, if
Volition fails to develop and commercialize diagnostic, prognostic
or disease monitoring products, it may be unable to execute its
plan of operations. Forward-looking statements are based on current
expectations, estimates and projections about Volition's business
based, in part, on assumptions made by management. These statements
are not guarantees of future performance and involve risks,
uncertainties and assumptions that are difficult to predict.
Forward-looking statements are made as of the date of this release,
and, except as required by law, Volition does not undertake an
obligation to update its forward-looking statements to reflect
future events or circumstances.
Nucleosomics™ and Nu.Q® and their respective logos are
trademarks and/or service marks of VolitionRx Limited and its
subsidiaries. All other trademarks, service marks and trade names
referred to in this press release are the property of their
respective owners. Additionally, unless otherwise specified, all
references to "$" refer to the legal currency of the United States of America.
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SOURCE VolitionRx Limited