Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

VolitionRx surges after unveiling plans to conduct two massive clinical studies

The cancer test specialist has signed a memorandum of understanding (MoU) with the National Taiwan University.
Cancer newspaper story
"We continue to announce large trials at very affordable costs in our efforts to gain worldwide adoption of our products."

VolitionRx Ltd's (NYSEAMERICAN:VNRX) stock shot up after it signed a memorandum of understanding with the National Taiwan University to conduct two large clinical studies.

The studies will entail taking some 7,000 patient samples.

"The signing of this MOU is a good start for Volition in the Asia Pacific Region" said Dr Jasmine Kway, Volition's vice president of Asia. 

"We are fortunate and delighted to be working with a renowned institution and Professor Han-Mo Chiu, a prominent thought leader. This large-scale study will be low cost in line with Volition's other great value studies such as the 13,500-subject study in the US and the ongoing 30,000-subject prospective study in Europe and demonstrates our commitment to conducting large trials worldwide to drive the acceptance of our products," Dr Kway added.

VolitionRx said the first trial would be a large scale multi-country, multi-center and multi-ethnic study in the Asia Pacific region, including 5,000 asymptomatic colorectal cancer screening subjects.

The second trial will include up to 2,000 symptomatic colorectal cancer patients.

These studies are being conducted to test and validate Volition's proprietary Nu.Q platform for the detection and diagnosis of colorectal cancer for marketing, rather than for regulatory purposes.

In a separate announcement, the company released its third quarter results in which it listed a slew of achievements and some upcoming milestones.

The latter include the selection of the panel for the company's front-line Nu.Q Colorectal Cancer Screening Test by the end of this year.

Also on its to-do list is the completion of the Logistics and Pathway design study that is currently in progress in Denmark, and the publication of an update on its progress using nucleosomics to purify or enrich nucleosomes of tumor origin.

"We have made fantastic progress this quarter, moving our clinical product development strongly forward in Asia, Europe and the US, and broadening our potential revenue base with our recently announced research kit sales,” said Cameron Reynolds, president and chief executive of VolitionRx.

READ VolitionRx lifted by cash infusion and first order for new range of "research use only" kits

“We have further expanded our talented scientific team, with four new hires to the R&D team, financially supported by the local government in Belgium." Reynolds added.

"We continue to announce large trials at very affordable costs in our efforts to gain worldwide adoption of our products. We look forward to achieving our upcoming clinical and commercial milestones, while continuing to keep close control on our cash burn, which has remained relatively stable," he concluded.

Cash and cash equivalents at the end of September stood US$13.84 million, compared with US$12.53mln a year earlier.

The company posted a net loss of US$3.89mln, equivalent to 15 cents a share, versus a loss the year before of US$3.48mln (15 cents a share).

Shares in VolitionRx rose to US$3.72 in the morning trading session from US$3.12 overnight.

View full VNRX profile View Profile

VolitionRx Timeline

Related Articles

June 21 2018
Genedrive has signed sales agreement with Sysmex Corporation for the distribution of the HCV ID to EMEA and Asia Pacific and with Mumbai- based ARKRAY to distribute the kit in India
People working in a laboratory
May 02 2018
The benefits of Admedus' proprietary ADAPT technology and products are now scientifically proven beyond doubt.
June 04 2018
While tricky, the last year has seen Abzena increase its customer engagement with its integrated discovery, development and manufacturing service offering

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use