VolitionRx Limited (VNRX) Bundle
A Brief History of VolitionRx Limited (VNRX)
Founding and Establishment
VolitionRx Limited was founded in 2010 and is headquartered in Singapore. The company focuses on the development of blood-based diagnostic tests for cancer, utilizing its proprietary NuQ technology. This innovative platform aims to significantly improve the accuracy and reliability of cancer detection.
Initial Public Offering
In 2013, VolitionRx went public on the NYSE American under the ticker symbol VNRX. The IPO raised approximately $6 million to fund the development of its diagnostic technologies.
Technology Development
VolitionRx’s primary technology, NuQ, refers to a novel method to detect nucleosomes in blood. In 2014, the company reported progress in its research, demonstrating the ability to differentiate between healthy patients and those with various cancers.
Clinical Trials
Throughout 2015, VolitionRx initiated several clinical trials aimed at validating its cancer detection capabilities. The company’s studies focused on colorectal cancer, and by Q4 2016, results indicated a sensitivity of 90% for detecting early-stage colorectal cancer.
Regulatory Milestones
In 2018, VolitionRx achieved a significant milestone by obtaining regulatory approval in Europe for its blood-based test for colorectal cancer, known as NuQ. This marked an important step in their commitment to commercializing their products worldwide.
Financial Performance
As of the end of fiscal year 2022, VolitionRx reported revenues of approximately $1.2 million, an increase from $0.5 million in 2021. The operating loss for 2022 was reported at $9.3 million, with total assets amounting to $14.1 million.
Market Presence and Collaborations
VolitionRx has established collaborations with various medical research institutions and industry partners to enhance its research capabilities. In 2021, a partnership was formed with the University of Leuven to advance the applications of NuQ technology in cancer diagnostics.
Stock Performance
As of October 2023, the share price of VolitionRx Limited (VNRX) was approximately $1.50, showing a volatility range of $1.20 to $2.00 over the previous year.
| Year | Revenue (in million $) | Operating Loss (in million $) | Total Assets (in million $) |
|---|---|---|---|
| 2020 | 0.4 | 8.6 | 11.3 |
| 2021 | 0.5 | 8.8 | 10.5 |
| 2022 | 1.2 | 9.3 | 14.1 |
| 2023 (YTD) | Data unavailable | Data unavailable | Data unavailable |
Future Prospects
VolitionRx continues to pursue further FDA approvals and intends to expand its product offerings beyond colorectal cancer testing. The company is exploring potential markets in the United States and Asia.
A Who Owns VolitionRx Limited (VNRX)
Overview of Ownership Structure
VolitionRx Limited, a company focused on developing blood-based diagnostics, is publicly traded on the NYSE American under the ticker symbol VNRX. The ownership of VolitionRx is characterized by a mix of institutional, insider, and retail investors.
Institutional Ownership
As of the latest data, institutional investors hold a significant share of VolitionRx. Here are the details:
| Institution | Shares Held | % of Total Shares |
|---|---|---|
| The Vanguard Group, Inc. | 1,200,000 | 8.5% |
| BlackRock, Inc. | 900,000 | 6.4% |
| RBC Global Asset Management | 600,000 | 4.2% |
| GeoInvesting, LLC | 500,000 | 3.5% |
| Other Institutions | 2,800,000 | 19.9% |
Insider Ownership
Insiders have a notable stake in VolitionRx, reflecting confidence in the company's future potential. The following numbers detail insider holdings:
| Insider Name | Position | Shares Held | % of Total Shares |
|---|---|---|---|
| Dr. Jake M. Kollar | CEO | 1,000,000 | 7.1% |
| Dr. David H. Dvorak | Chairman | 750,000 | 5.3% |
| James M. McCullough | Director | 300,000 | 2.1% |
| Other Insiders | Various | 400,000 | 2.8% |
Retail Investor Ownership
Retail investors complement the ownership structure of VolitionRx, contributing to liquidity and market participation. The estimated retail investor ownership is:
- Total Retail Investors: Approximately 22,000
- Total Shares Held by Retail Investors: 3,500,000
- Percentage of Total Shares: 25%
Market Capitalization
The market capitalization of VolitionRx as of the latest trading day is:
| Metric | Value |
|---|---|
| Current Share Price | $3.20 |
| Total Outstanding Shares | 14,000,000 |
| Market Capitalization | $44.8 million |
Recent Shareholder Changes
In recent months, VolitionRx has seen changes in its shareholder structure:
- Institutional ownership increased by 4.2% over the past quarter.
- Insider purchases totaling 150,000 shares reported recently.
- Retail investor participation has grown by approximately 5% since the last quarter.
Conclusion on Ownership Dynamics
The ownership dynamics of VolitionRx Limited reflect a diverse group of investors, ensuring a balanced approach to corporate governance and strategic direction.
VolitionRx Limited (VNRX) Mission Statement
Company Overview
VolitionRx Limited operates with the vision to revolutionize cancer diagnostics through the development of innovative blood-based tests designed to detect various cancers at early stages.
Core Mission Statement
The mission of VolitionRx is to improve the lives of patients worldwide by developing simple, cost-effective, and accurate blood tests for cancer detection, focusing on enhancing early diagnosis and treatment.
Strategic Goals
- Innovation: Continuously develop novel diagnostic tools utilizing the Nu.Q™ platform.
- Accessibility: Ensure tests are affordable and readily available to healthcare providers globally.
- Partnerships: Collaborate with leading research institutions and healthcare organizations to validate and promote their tests.
- Education: Raise awareness about the importance of early cancer detection and the role of diagnostic tests.
Financial Data
As of October 2023, VolitionRx Limited reported the following financial statistics:
| Financial Metric | Value (USD) |
|---|---|
| Market Capitalization | Approximately $50 million |
| Revenue (2022) | $1.2 million |
| Net Income (2022) | -$7.5 million |
| Total Assets (as of Q2 2023) | $21.3 million |
| Total Liabilities (as of Q2 2023) | $15.8 million |
Product Pipeline
VolitionRx has developed a pipeline of diagnostic tests aimed at various types of cancers, including:
- Nu.Q™ Blood Tests for colorectal cancer
- Nu.Q™ Blood Tests for lung cancer
- Nu.Q™ Blood Tests for other malignancies
Recent Developments
In 2023, VolitionRx announced several key milestones and collaborations:
- Partnership with the University of Cambridge for research and development.
- Secured a $5 million investment for further product development and commercialization.
- Increased the total number of clinical studies involving Nu.Q™ platform to over 20.
Market Overview
The cancer diagnostics market is projected to reach approximately $220 billion by 2027, with a CAGR of around 7.9% from 2020 to 2027. VolitionRx's focus on blood-based diagnostics places it strategically in this growing sector.
Research and Development
R&D expenditure is critical for VolitionRx, with investments exceeding $3 million annually aimed at developing and refining diagnostic products.
Conclusion
VolitionRx aims to achieve significant breakthroughs in cancer detection, leveraging innovative technologies and ongoing collaborations within the healthcare ecosystem.
How VolitionRx Limited (VNRX) Works
Business Model
Business Model
VolitionRx Limited operates in the field of cancer diagnostics, focusing on blood-based tests to detect various cancers at early stages. The company's proprietary platform, known as Nu.Q®, utilizes nucleosomes—fragments of DNA released by cancer cells—to identify cancer presence through blood tests.
Key Technologies
- Nu.Q® Technology: This is the cornerstone of VolitionRx's diagnostics. It involves a proprietary method to capture and analyze nucleosomes.
- Nu.Q® Blood Tests: Designed for early cancer detection, the tests are currently in various stages of development for multiple cancer types, including colorectal and lung cancer.
- Licensing and Partnerships: VolitionRx collaborates with various research institutions for test development and commercialization.
Recent Financial Performance
As of Q2 2023, VolitionRx reported the following financial figures:
| Fiscal Metric | Amount (USD) |
|---|---|
| Total Revenue | $1.2 million |
| Net Loss | $(3.9 million) |
| Cash and Cash Equivalents | $17.1 million |
| Total Assets | $21.4 million |
| Total Liabilities | $8.3 million |
Market Position
VolitionRx operates in the highly competitive cancer diagnostics market, which is projected to reach $200 billion by 2026, growing at a CAGR of 13.7% from 2021 to 2026. The company's unique technology positions it favorably against traditional biopsy methods.
Research and Development
VolitionRx is investing significantly in R&D. As of 2023, the company allocated approximately $2.1 million per quarter towards research initiatives, focusing on:
- Advancing the Nu.Q® test for colorectal cancer.
- Developing additional tests for other cancer types.
- Improving the accuracy and reliability of existing tests.
Regulatory Status
The company is actively seeking regulatory approvals for its tests. As of the latest update:
- Nu.Q® Colorectal Cancer test: Undergoing clinical validation.
- Nu.Q® Lung Cancer test: Anticipated to file for CE mark in Europe by Q4 2023.
Stock Performance
As of October 2023, the stock price of VolitionRx (VNRX) is approximately $0.65 per share. The market capitalization stands at approximately $54.3 million based on outstanding shares of around 83.5 million.
Partnerships and Collaborations
VolitionRx has established several key partnerships to enhance its market presence:
- Collaboration with the University of Texas for R&D.
- Partnership with the University of Leuven for product development.
- Agreements with various laboratories for test distribution.
Future Outlook
The company aims to expand its product line and market reach. Key goals include:
- Launching the Nu.Q® tests in new geographical markets.
- Increasing production capacity.
- Seeking additional funding to support ongoing operations and development efforts.
How VolitionRx Limited (VNRX) Makes Money
Revenue Streams
VolitionRx Limited (VNRX) primarily generates revenue through the development and commercialization of its diagnostic tests for cancer detection. The company focuses on novel blood-based diagnostics and aims to provide cost-effective testing options.
Product Portfolio
The key products developed by VolitionRx include:
- Nu.Q™ Test Platform
- Nu.Q™ Colorectal Cancer Test
- Nu.Q™ Lung Cancer Test
- Nu.Q™ Test for Other Cancer Types
Market Opportunities
VNRX is targeting a global cancer testing market projected to reach approximately $214 billion by 2026, driven by increasing cancer prevalence and demand for early detection.
Partnerships and Collaborations
VolitionRx collaborates with various research institutions and commercial partners to enhance its testing capabilities. Notable partnerships include:
- University of Texas for colorectal cancer research
- Collaboration with other diagnostic companies for technology integration
Financial Performance
In the fiscal year 2022, VolitionRx reported revenue of $1.24 million, a notable increase from $530,000 in 2021. The revenue growth can be attributed to increased interest in their diagnostic tests and expanding market reach.
Costs and Expenditures
VNRX's operational expenses for FY 2022 were approximately $18 million, including:
- Research and Development: $10 million
- General and Administrative: $6 million
- Marketing and Sales: $2 million
Recent Developments
In Q3 2023, VolitionRx announced the launch of its Nu.Q™ TRC test for early cancer detection in partnership with a leading laboratory. This initiative is expected to contribute significantly to future revenue.
Table of Financial Data
| Year | Revenue ($) | Operational Expenses ($) | Net Loss ($) |
|---|---|---|---|
| 2020 | 300,000 | 15,000,000 | (14,700,000) |
| 2021 | 530,000 | 17,000,000 | (16,470,000) |
| 2022 | 1,240,000 | 18,000,000 | (16,760,000) |
| 2023 (Project estimated) | 2,000,000 | 19,000,000 | (17,000,000) |
Future Outlook
VolitionRx's strategic focus on innovation and expanding its product line is anticipated to enhance its market position. The company aims to increase its revenue base while managing operational costs effectively.
VolitionRx Limited (VNRX) DCF Excel Template
5-Year Financial Model
40+ Charts & Metrics
DCF & Multiple Valuation
Free Email Support