The following is a summary of the VolitionRx Limited (VNRX) Q1 2024 Earnings Call Transcript:

Financial Performance:

• VolitionRx reported Q1 revenue of approximately $170,000, a 15% increase compared to the same period last year, mainly generated from Nu.Q Vet operations.

• The company finished the first quarter with cash/cash equivalents of approximately $11.8 million.

• A goal to become cash flow neutral by 2025 has been set, through the reduction of expenditure by $10 million annually, revenue growth, and procuring non-dilutive funding and licensing payments from Nu.Q NET and Capture-PCR.

Business Progress:

• The company has made significant headway with the Nu.Q NET, Capture-PCR, and Nu.Q lung cancer technologies.

• VolitionRx expects to complete data in two key areas, Nu.Q NET and Capture-PCR by next month, potentially leading to royalties and milestone payments within a year.

• Progress continues in lung cancer studies, and successful results are soon to be released.

• In veterinary operations, the rollout of the Nu.Q Vet canine test continues in the U.S., Europe, and Japan. Feedback has been positive.

• Expansion into sepsis diagnosis shows significant progress, with plans to introduce a sepsis product under a licensing model.

• The company intends to expand the application of their Capture-PCR test in the broader biopharma R&D market.

• Preliminary discussions to extend the use of the Nu.Q Vet for monitoring purposes to veterinarians have begun.

• Cost-saving measures are in place, including executive salary cuts, with a goal to reduce operating costs by $10 million in the next year.

More details: VolitionRX IR

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