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VolitionRx targeting several milestones in second half of 2017

The colorectal cancer (CRC) diagnostics specialist is looking to target other cancers, particularly pancreatic, lung and prostate
Cancer newspaper story
A new R&D facility in Belgium's Walloon region increased Volition's capacity to run large-scale clinical trials

VolitionRx Ltd (NYSEMKT:VNRX) made strong progress on several fronts in the second quarter of 2017.

On the clinical side of things, the cancer diagnostics group signed an agreement to participate in a large, multi-center study with the Great Lakes New England Clinical Validation Center, funded by the US National Cancer Institute's (NCI) Early Detection Research Network (EDRN).

On the regulatory side, the company initiated the regulatory acceptance process in both Taiwan and Singapore; the latter, if approved, will grant Volition access to nine other South Asian markets.

Operationally, the group opened a new research & development facility in Belgium's Walloon region, increasing Volition's capacity to run large-scale clinical trials and opening up the possibility of branching out into researching cures for other forms of cancer, such as pancreatic, lung and prostate.

In the second half of 2017, Volition is targeting several important clinical and commercial milestones, including: results of the Logistics and Pathway design study currently under way in Denmark; results of the clinical evaluation currently under way in Taiwan; Updates on the front-line CRC screening product; further clinical data on at least one of the other targeted cancers; additional key patents in several countries, including the United States; further grant funding anticipated from the Walloon Region in Belgium.

In common with similar life sciences companies at the early stage of development, Volition makes a loss.

Its second quarter net loss was US$3.5mln, versus a loss in the same period of 2016 of US$2.9mln.

The loss per share was unchanged at 13 cents.

The group ended the reporting period with cash and cash equivalents of US$16.5mln, down from US$18.5mln at the end of the previous quarter.

Shares in VolitionRx were up 0.7% at US$2.88 in early trading.

 

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