The following is a summary of the VolitionRx Limited (VNRX) Q3 2024 Earnings Call Transcript:

Financial Performance:

• VolitionRx reported significant growth, with a third-quarter revenue of $475,000, marking a 307% increase compared to the same quarter the previous year.

• Year-to-date revenues have doubled to approximately $1 million, representing a 96% growth over the previous period.

• Operating expenses dropped by 28% compared to the same quarter of the previous year, contributing to a decrease in cash used in operations by 36% year-over-year.

• The company also secured commitments for $2.2 million in non-dilutive funding from the Walloon Region in Belgium.

Business Progress:

• VolitionRx sold over 110,000 Nu.Q Vet cancer tests in the first three quarters, significantly up from 58,000 in the entire previous year.

• The company has expanded Nu.Q Vet tests availability to 17 countries.

• Significant advancements in human and veterinary clinical studies, particularly in lung cancer and sepsis, with major studies set to conclude in Q4 2025.

• Ongoing negotiations for commercial licensing agreements that could potentially position the company's platform in national lung cancer screening programs across multiple regions.

Opportunities:

• Strong growth trajectories in Nu.Q Vet tests alongside penetration into new international markets present significant revenue opportunities.

• Upcoming negotiations and potential deals in licensing across the human health sector, particularly in oncology and sepsis, indicating prospects for significant monetization of the company's IPs.

• The involvement in national screening programs could potentially elevate the company's profile and open up further markets.

Risks:

• Dependence on the successful expansion and acceptance of Nu.Q Vet and human diagnostic tests in new markets.

• The company's financial future highly contingent on securing lucrative licensing deals and partnerships in the diagnostic and biotechnical space.

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