VNRX VOLITIONRX LTD
Price Chart
Executive Summary
VolitionRx reported Q1 2026 revenue of ~$1.0M, up from $0.2M a year ago, but operating loss was only down 3% and net cash used in operations was $5.3M. The company highlighted progress on licensing discussions and a potential $5M milestone payment from a feline lymphoma test publication, but no definitive revenue-generating agreements were announced. The EPS miss vs consensus is mechanically driven by a tiny base and is not a meaningful deterioration signal for this pre-revenue diagnostics company.
Actionable Insight
Monitor for definitive licensing agreements or the $5M milestone payment from the feline lymphoma study publication — these are the key catalysts. Cash runway is being extended via ATM and convertible note, but without a revenue inflection, dilution risk remains. The next catalyst is the peer-reviewed publication unlocking the milestone.
Key Facts
- Q1 2026 revenue ~$1.0M vs $0.2M in Q1 2025
- Operating loss down 3% vs prior year quarter
- Net cash used in operating activities was $5.3M
- Raised $5.4M net from ATM equity sales, $1.9M from convertible note and warrant
- Received $1M non-dilutive funding from Walloon Region; ~$0.9M more expected over 12 months
- Potential $5M milestone payment contingent on publication of feline lymphoma study
- Discussions ongoing with >12 diagnostic/liquid biopsy companies for licensing
- EPS of -$1.04 vs consensus -$0.73 (miss driven by tiny base, not fundamental deterioration)
Financial Impact
Revenue grew 5x YoY to ~$1.0M but operating cash burn of $5.3M continues; no material revenue inflection yet
Risk Factors
- No definitive licensing agreements announced despite ongoing discussions
- Continued cash burn of $5.3M per quarter requires ongoing capital raises
- EPS miss vs consensus, though on a tiny base, may pressure the stock near-term
- Dilution from ATM sales ($5.4M in Q1) and convertible note ($1.9M)
Market Snapshot
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001477932-26-003126 |
| Document: vnrx_ex991.htm | 0001477932-26-003126 |
| Document: 0001477932-26-003126-index-headers.html | 0001477932-26-003126 |
| Document: 0001477932-26-003126-index.html | 0001477932-26-003126 |
| Document: 0001477932-26-003126.txt | 0001477932-26-003126 |
| 8-K Data (Synthetic) | 0001477932-26-003126 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 9, 2026
today
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424B5
| $1.56 awaiting T+5 | awaiting T+5 | — | $1.36 (+12.82%) |
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Jun 5, 2026
4d ago
|
424B5
| $1.79 awaiting T+5 | awaiting T+5 | — | $1.36 (+24.02%) |
|
May 22, 2026
18d ago
|
8-K
| $2.94 $2.32 | ▲ +21.09% | ▲ +22.30% | $1.36 (+53.74%) |
|
May 14, 2026
26d ago
|
8-K
| $2.00 $3.13 | ▲ +56.50% | ▲ +55.54% | $1.36 (−32.00%) |
|
Apr 30, 2026
5w ago
|
10-K/A
| $2.43 $2.25 | ▼ −7.41% | ▼ −9.75% | $1.36 (−44.03%) |
|
Apr 28, 2026
6w ago
|
8-K
| $2.64 $2.49 | ▼ −5.68% | ▼ −8.79% | $1.36 (−48.48%) |
|
Apr 23, 2026
6w ago
|
8-K
| $2.80 $2.64 | ▲ +5.71% | ▲ +7.19% | $1.36 (+51.43%) |
|
Apr 17, 2026
7w ago
|
8-K
| $3.20 $2.72 | ▼ −14.88% | ▼ −15.79% | $1.36 (−57.50%) |
|
Mar 31, 2026
10w ago
|
8-K
| $4.00 $3.45 | ▼ −13.80% | ▼ −17.57% | $1.36 (−66.00%) |
US Market Status
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