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SeeThruEquity Issues Update on VolitionRX Ltd. (VNRX) with a Target Price of $7.00

NEW YORK, NY / ACCESSWIRE / June 4, 2018 / SeeThruEquity, a leading independent equity research and corporate access firm focused on smallcap and microcap public companies, today announced it has issued an update on Volition RX Ltd. with a Target Price of $7.00.

The report is available here: June 2018 Update Note.

VolitionRX Ltd. (NYSE American: VNRX) is a life sciences company focused on developing simple, easy-to-use blood-based tests to accurately diagnose a broad range of cancers and other conditions. VNRX's novel Nu.Q® family of blood-based diagnostics tests are based on the company's proprietary Nucleosomics® technology platform, which identifies and measures nucleosomes in the bloodstream. In our view, the company is targeting a large potential market, which, if successful, has high impact potential in the cancer diagnostics market given its tests' low-invasiveness, high accuracy (80%+ in a retrospective study in Denmark) and relatively low cost.

Investment Highlights

VNRX has made significant progress since our last note, releasing 1Q18 results, as highlighted below:

  • Volition signed a global license for ''research use only'' kits with Active Motif. Following through on its prior commitment to pursue commercial activities this year with research kits, Volition announced an exclusive global license, manufacturing and sales and distribution agreement with Active Motif for a range of research kits. The kits will be based on its proprietary Nucleosomics® technology for cancer diagnosis panels and are intended to aid in drug development and treatment selection. While the majority of value is clearly in the company's internal pipeline, the commercialization of the kits should generate high margin revenues in the short run while the company advances its diagnostics.
  • Balance Sheet in good shape in short run: VNRX ended 1Q18 with cash on hand of $14.3mn and $1.8mn in debt obligations. The company has been using approximately $3mn in cash per quarter to advance its pipeline and maintain operations. This implies that Volition has runway for the next 12-14 months, which should be sufficient for the company to reach key milestones in the development of frontline and triage colorectal cancer diagnostics and possibly achieve a CE Marking for one or both diagnostics.

Price target of $7.00 for VNRX

We see VNRX as a high risk, high potential reward biotechnology company targeting a large and potentially transformative market in healthcare/biopharmaceutical space with its proprietary Nu.Q® blood-based diagnostics tests. Upcoming key events for the company include sales results from the Active Motif license and distribution agreement as well as updated results from Nu.Q Colorectal Cancer Triage Test (3Q18) and establishing a final panel for the Nu.Q Colorectal Cancer Frontline Screening Test.

Please review important disclosures in the report and on our website at www.seethruequity.com.

About VolitionRX Ltd.

Volition is a multi-national life sciences company focused on developing simple, easy to use, cost-effective blood tests designed to help diagnose a range of cancers. The tests are based on the technology platform of Nucleosomics®, which is the practice of identifying and measuring nucleosomes in the bloodstream or other bodily fluid - an indication that disease is present.

As cancer screening programs become more widespread, Volition's products aim to help to diagnose a range of cancers quickly, simply, accurately and cost effectively. Early diagnosis has the potential to not only prolong the life of patients but also to improve their quality of life. Volition's research and development activities are currently centered in Belgium, with additional offices in London, Texas, and Singapore, as the company focuses on bringing its diagnostic products to market first in Europe, then in the U.S. and ultimately, worldwide. For more information about Volition, visit Volition's website https://volitionrx.com/.

About SeeThruEquity

Since its founding in 2011, SeeThruEquity has been committed to its core mission: providing impactful, high-quality research on underfollowed smallcap and microcap equities. SeeThruEquity has pioneered an innovative approach to deliver equity research of microcap and smallcap companies. SeeThruEquity has also been the host of acclaimed investor conferences that are the ultimate event for publicly traded companies with market capitalizations less than $1 billion since 2012.

SeeThruEquity is approved to contribute its research reports and estimates to Thomson One Analytics (First Call), the leading estimates platform on Wall Street, as well as Capital IQ and FactSet. SeeThruEquity maintains one of the industry's most extensive databases of opt-in institutional and high net worth investors. The firm is headquartered in Midtown Manhattan in New York City.

For more information visit www.seethruequity.com.



SOURCE: SeeThruEquity