VolitionRx Limited (VNRX) experiences a decline of 8.05% in the aftermarket. However, the last trading session closed at $3.48 with a decrease of 5.95%.
Third Quarter 2021 Results by VNRX– What’s up?
VNRX announced third-quarter financial results on 10th November 2021. The report says that the cash and cash equivalents came out to be $22.9 million, $19.4 million more at the end of December 2020. Moreover, the average monthly cash burn rate was $1.7 million, which was lower than the prior two quarters. Furthermore, the company reported a net loss of $7.2 million, $5.6 million more than the previous quarter.
The Company has done an initial assessment of colorectal cancer research done with National Taiwan University. In addition, VNRX has finished the initial analysis of the lung cancer trial, which was also done in collaboration with National Taiwan University. This year, in parallel to application developers for its first human cancer launch in China, Volition has been engaged in active and ongoing talks across Asia.
Second Quarter 2021 Results by VNRX
VNRX reported second-quarter 2021 results on 11th August 2021. The company reported cash and cash equivalents of $27.9 million, $19.4 million more than at the end of December 2020. The company’s net loss was $5.6 million, with $5.4 million in net cash spent in operational operations. Furthermore, grant income was around $0.4 million in the second quarter of 2021. VNRX received net funds of about $0.9 million from its at-the-market stock distribution program. Lastly, the company released a cash burn rate of around $2 million per month.
COVID-19 Risk Stratification Results by VNRX
On 22nd July 2021, VNRX announced that it has developed simplified, convenient, cost-effective blood techniques to confirm the diagnosis of diseases including cancer in humans and animals. Moreover, the company has been collaborating with researchers from two leading NHS Foundation Trusts on two COVID-19 studies. VNRX earlier announced preliminary findings showing that the Nu.Q® NETs test corresponded well with the severity of COVID-19 illness. The company now has early-stage evidence from the same test that shows that findings on admission can predict COVID-19 disease severity in the future.
Now what?
According to the company, the Nu. Q NETs test will be useful for monitoring disorders with a NETs component, as well as possibly risk stratifying patients for therapy selection. Moreover, the company is working on more major trials in COVID-19 and sepsis. Lastly, the company is looking forward to the conclusion of existing investigations and the publishing of new findings.
