In This Story
VolitionRX Limited (VNRX+7.32%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details VolitionRX's focus on developing blood tests for early detection of diseases such as cancer and sepsis. The company's technologies use chromosomal structures as biomarkers.
VolitionRX reported revenues of $1,233,511 for the year, an increase from $775,302 in 2023. This was primarily from product sales of the Nu.Q® Vet Cancer Test and services revenue.
Operating expenses decreased to $28.3 million from $36.8 million in 2023, with reductions in research, development, and administrative costs.
The company incurred a net loss of $27.3 million, compared to a net loss of $35.7 million in the previous year.
VolitionRX highlighted its commercialization strategy, focusing on partnerships and licensing agreements to market its tests globally.
The company acknowledged its dependence on additional capital to continue operations, with plans to secure funding through equity offerings and partnerships.
VolitionRX identified a material weakness in its internal controls over financial reporting and is working on remediation plans.
The company does not anticipate paying dividends in the foreseeable future, as it plans to reinvest earnings into business development.
VolitionRX's stock is listed on the NYSE American under the symbol VNRX, and the company has a market capitalization of approximately $45.5 million as of June 28, 2024.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the VolitionRX Limited annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.