HENDERSON, Nev. - VolitionRx Limited (NYSE AMERICAN: VNRX), a global epigenetics company, has launched the Nu.Q® Vet Cancer Test for in-clinic use in the United States and Europe, in collaboration with Antech, a prominent veterinary diagnostics firm. The test is now available for veterinarians to use on-site, offering rapid and accurate cancer screening for dogs, particularly high-risk breeds and older canines.
The Nu.Q® Canine Cancer Test, designed for the Element i+® Analyzer, delivers results in approximately six minutes, making it a swift diagnostic tool for veterinary practices.
Dr. Tom Butera, CEO of Volition Veterinary Diagnostics Development LLC, emphasized the importance of the test in facilitating early cancer detection, which could significantly aid in managing the disease and improving patient outcomes. He noted that integrating the test into regular veterinary exams could be a game-changer for early cancer screening.
Volition's ambition to make its epigenetic technology widely accessible aligns with this development, aiming to improve disease detection and monitoring. The company's focus extends to creating simple, affordable blood tests for various life-altering diseases, including certain cancers and NETosis-related conditions like sepsis.
The Veterinary Cancer Society reports that cancer is a leading cause of death in older pets, with one in four dogs diagnosed with the condition. The availability of the Nu.Q® Vet Cancer Test represents a significant advancement for pet healthcare, potentially impacting the lives of approximately 190 million dogs in the U.S. and Europe.
Volition's broader mission is to save lives and enhance the quality of life for both humans and animals by enabling earlier disease detection and monitoring. The company conducts its research and development mainly in Belgium, with an innovation lab in the U.S. and additional offices in London and Singapore.
This announcement is based on a press release statement from VolitionRx Limited.
InvestingPro Insights
As VolitionRx Limited (NYSE AMERICAN: VNRX) forges ahead with its innovative Nu.Q® Vet Cancer Test, the company's financial metrics provide a backdrop to their operational progress. According to InvestingPro data, VolitionRx has experienced a significant revenue growth rate of 153.04% over the last twelve months as of Q4 2023. This surge reflects the company's dynamic expansion efforts and could signal a positive trajectory as they continue to penetrate the veterinary diagnostics market.
Still, despite the promising growth in revenue, InvestingPro Tips suggest caution for investors. Analysts do not expect the company to be profitable this year, which is supported by an operating income margin of -4641.76%.
Moreover, the company's stock performance has been underwhelming, with a three-month price total return of -43.4%. Such metrics underscore the challenges VolitionRx faces, including a high revenue valuation multiple and the fact that it operates with a moderate level of debt.
For investors looking to delve deeper into VolitionRx's financial and operational intricacies, there are 9 additional InvestingPro Tips available at https://www.investing.com/pro/VNRX. These tips could be instrumental in making informed decisions, especially considering the company's rapid cash burn and its short-term obligations exceeding liquid assets. To access these insights and more, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription with InvestingPro.
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