VolitionRx

US: VNRX

$203m market cap

$4.94 last close

VolitionRx is a life sciences company developing novel, simple-to-use, blood-based tests to diagnose a broad range of cancers and other conditions by identifying and measuring nucleosomes in the blood stream. The primary focus is to develop the Nu.Q family of blood-based diagnostics tests for colorectal cancer.

Investment summary

According to the latest Q319 update, VolitionRx has made progress with proof-of-concept studies with its upgraded Nu.Q assays and expects to start publishing the data in the coming weeks. After that, it plans to continue working on its lead indications, including colorectal and lung cancers. VolitionRx also reported progress with its newer programmes. Its agreement with the Texas A&M University has been executed to develop cancer tests for animal health. The innovative Nu.Q Capture programme made a breakthrough this summer and could eventually speed up biomarker discovery or potentially bring in licensing revenues from liquid biopsy players. Our valuation is $223m or $5.42/share.

Y/E Dec
Revenue (US$m)
EBITDA (US$m)
PBT (US$m)
EPS (c)
P/E (x)
P/CF (x)
2017A 0.0 (15.0) (15.1) (57.29) N/A N/A
2018A 0.0 (17.9) (18.0) (48.67) N/A N/A
2019E 0.0 (18.2) (18.4) (45.54) N/A N/A
2020E 0.1 (19.6) (19.7) (46.94) N/A N/A
Industry outlook

The blood-based cancer screening market is in its nascent stages with great potential and serves an unmet medical need. Currently there are few, if any, non-invasive screening methods for the vast majority of cancers.

Last updated on 04/12/2019
Sector
Healthcare
Share price graph
Balance sheet
Forecast net cash (US$m) 12.5
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (10.2) 34.6 117.6
Relative* (11.2) 27.0 88.8
52-week high/low US$6.4/US$1.7
*% relative to local index
Key management
Cameron Reynolds CEO
David Vanston CFO
Jake Micallef Chief Scientific Officer
Scott Powell Director of IR

Content on VolitionRx