VolitionRx anticipates first DETECSEPS patient in September as Q1 revenue rises to about $1M
View original at seekingalpha.com“cash and cash equivalents at the end of the quarter totaled approximately $3.1 million”
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VolitionRx's goal for Capture-Seq is to secure a wide range of licensing agreements in the human diagnostic space; it is in discussions with more than a dozen of the world's leading diagnostic and liquid biopsy companies, including technical evaluations around CTCF Capture-Seq
60% confidenceCash and cash equivalents at the end of Q1 2026 totaled approximately $3.1 million
60% confidenceAt 97% specificity, the feline lymphoma assay detected 86% of feline lymphomas; publication in a peer-reviewed journal is expected to subsequently unlock a $5 million contractual milestone payment
60% confidenceNon-dilutive funding of approximately $1 million was received in Q1 2026, with an additional ~$0.9 million expected in tranches; cumulative non-dilutive support since inception is well over $25 million
60% confidenceUlysses MAP study recruitment is complete; results expected to be reported at ESMO 2026; hospital-use certification work has been completed and reimbursement pre-submission work is underway
60% confidenceReimbursement is the next step for Nu.Q Lung Cancer; pre-submission meetings with authorities are anticipated in coming weeks, with routine clinical use in France expected late this year
60% confidenceQ1 2026 operating expenses were $6.3 million, including severance costs from cost reduction actions and higher R&D costs related to Capture-Seq and lung cancer studies
60% confidenceThe first DETECSEPS patient is hoped to be recruited in Q3 2026, likely September, using a breakthrough finger-prick lateral-flow nucleosome detection test that could be used at the bedside in the ER or at home
60% confidenceVolitionRx completed all validation and verification of the ChLIA version of the Nu.Q Vet Cancer Test, enabling full automation rather than manual plates in central labs for dogs
60% confidenceIVDR submission is ahead of schedule; the transition from IVDD to IVDR is a very significant milestone for VolitionRx
60% confidenceThe HS (hidradenitis suppurativa) biomarker is being used to identify patients that might be having a flare-up and to monitor patients on an ongoing basis
60% confidenceTypical Capture-Seq licensing deal structures include upfront payments or milestones and a share of revenue going forward
60% confidenceNet cash used in operating activities was $5.3 million in Q1 2026
60% confidenceLicensing discussion partner count expanded from around 10 companies in Q4 2025 to more than a dozen in Q1 2026
60% confidenceQ1 2026 revenue was approximately $1 million compared to approximately $0.2 million in Q1 2025, primarily driven by a $0.7 million increase in deferred revenue recognition related to the Nu.Q Vet agreement with Heska
60% confidenceThe $0.7 million deferred revenue recognized in Q1 2026 was partly a catch-up; the recognition rate going forward will be somewhat faster
60% confidenceVolitionRx does not break down revenues by individual partner or pillar due to confidentiality; licensing terms and process are confidential until negotiations are concluded
60% confidenceVolitionRx will not provide revenue guidance for 2026; revenues remain fairly lumpy and difficult to predict from one quarter to the next at this stage of commercialization
60% confidenceThe $5 million feline milestone payment has not yet been received; when received it will be recorded as deferred revenue; collection is expected after publication
60% confidenceAgreements with Werfen and Hologic are characterized as starter agreements; larger future agreements are expected to include larger upfront and milestone payments
60% confidence