VolitionRX Ltd. (VNRX) stock prices were up by 1.56% as of the market closing on September 24th 2021. This brought the price per share up to USD$3.25 at the end of the trading day.
Nu.Q Vet Cancer Screening Test
VNRX stock reported being engaged in multiple epigenetic projects that are based on its proprietary Nu.QTM platform. The platform has been used to develop numerous blood-based clinical assays. The beta launch of Nu.Q Vet Cancer Screening Test has commenced the generation of revenues. Management is actively participating in discussions with various small and large companies that focus on veterinary products and services. These discussions are in regard to the securing of licensing agreements for the Nu.Q Vet Cancer Screening Test for cancer detection in canines.
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VNRX Stock Facilitates Proliferation
The beta launch of the test has resulted in significant levels of interest for the licensing and distribution of the product. VNRX stock expects to enter into a distribution licensing arrangement in the second half of fiscal 2021. Revenues are forecasted to be generated in the fiscal year 2022 in the form of either up-front payments and/or the achievement of certain commercial milestones. The first upfront payment could occur as early as the second half of fiscal 2021. The Nu.Q Vet Cancer Screening Test is positioned as part of an annual wellness test on dogs over the age of seven. The test is also useful for canine breeds that are predisposed to cancer at ages as early as four years old.
Stellar Liquidity Position
VNRX stock reported working capital in the amount of roughly USD$24 million as of June 30th 2021. This is an improvement over the USD$14.1 million reported on December 31st 2020. The 2021 numbers, however, are down sequentially from the USD$28.7 million reported at the end of the first quarter of fiscal 2021. This decrease is largely attributable to the company’s cash burn rate of roughly USD$2 million per month. The company reported a stellar liquidity position, with cash and cash equivalents in the amount of USD$27.9 million.
Future Outlook for VNRX Stock
The company reported a promising quarter, rife with opportunities for it to capitalize on over the upcoming quarter. VNRX stock continues to take steps to ensure the acceleration of the commercialization and proliferation of its proprietary product. Current and potential investors are hopeful that management will be able to leverage the resources at their disposal. This is hoped to facilitate consistent and organic growth in shareholder increases in shareholder value.