VolitionRx Limited (NYSE AMERICAN: VNRX) reported $1 million in revenue for the first quarter of 2026, a 300% increase year-over-year. The stock rose 18% over the past week but remains 70% lower than last year. Shares trade at $2.94, with a market cap of $23.3 million.
The epigenetics company submitted a clinical manuscript for its Nu.Q Vet cancer test in cats, expecting a $5 million milestone payment upon publication. The feline lymphoma assay detected 86% of cases at 97% specificity.
VolitionRx is in discussions with over a dozen diagnostic and liquid biopsy companies for licensing. It also submitted a paper on its Capture-Seq platform, which detected over 95% of Stage I and II cancers.
The Nu.Q NETs assay will be included in France's DETECSEPS program, a $7.3 million government initiative starting in Q3 2026. The company successfully detected nucleosomes in capillary blood from sepsis patients using a lateral flow prototype.
Reimbursement submission in France for lung cancer testing remains on schedule, with routine clinical use expected by end of 2026. The submission is supported by Hospices Civils de Lyon.
According to Bond.az analysis, VolitionRx appears undervalued but faces near-term financial challenges with a current ratio of 0.33. Analysts project price targets from $16.83 to $24.
The Nu.Q Vet Canine test is available in over 20 countries. The total addressable market is estimated at $27.8 billion annually, including $23 billion for cancer detection, $3.8 billion for sepsis, and $1 billion for veterinary applications.
The Henderson, Nevada-based company develops blood-based diagnostic tests. R&D operations are based in Belgium, with facilities in the US and London.
