VolitionRx Limited Announces Second Quarter 2026 Financial Results and Business Update
Rhea-AI Summary
VolitionRx (NYSE AMERICAN: VNRX) reported second quarter 2026 revenue of approximately $0.4 million, roughly in line with Q2 2025, and first-half 2026 revenue of $1.4 million, representing 112% growth over the first half of 2025.
Operating expenses in Q2 2026 were 32% lower year over year, contributing to an operating loss of $4.2 million, down 34% versus Q2 2025. Net cash used in operating activities was $5.2 million, 18% lower than the prior-year quarter. Receipts included $1.2 million from at-the-market equity sales and $4.1 million from a confidentially marketed public offering.
Volition highlighted ongoing licensing discussions with more than a dozen diagnostic and liquid biopsy companies, a collaboration with Sysmex, a Nu.Q Vet feline lymphoma manuscript linked to a potential $5 million milestone, progress toward reimbursement for Nu.Q Lung Cancer, and its first peer-reviewed Capture-Seq liquid biopsy paper. The company estimates its total addressable markets at over $27 billion annually.
Positive
- First-half 2026 revenue $1.4 million, up 112% year over year
- Q2 2026 operating expenses down 32% versus Q2 2025
- Q2 2026 operating loss reduced 34% to $4.2 million
- Net cash used in operations down 18% to $5.2 million in Q2 2026
- Equity financing raised $5.3 million gross cash proceeds in Q2 2026
- Potential milestone $5 million tied to Nu.Q Vet feline study publication
Negative
- Q2 2026 revenue approximately $0.4 million, flat versus Q2 2025
- Q2 2026 operating loss remains sizeable at $4.2 million
- Net cash used in operations $5.2 million in Q2 2026
- Ongoing dilution from at-the-market sales and public equity offering
News Explained
The funding adds cash while expanding the share base; as of March 31, reported cash equaled 52.9 days of last reported operating cash use.
VolitionRx reports second-quarter results and receipt of
An at-the-market program allows an issuer to sell new shares gradually at prevailing prices, while dilution is the reduction in an existing holder’s percentage ownership when the total share count rises.
As of
The scheduled
Sources and calculations
- VolitionRx second-quarter 2026 results and business update (2026-08-13)
- At-the-market program definition (undated)
- Dilution definition (undated)
- VolitionRx first-quarter 2026 fundamentals (2026Q1)
- Cash and equivalents vs quarterly operating cash outflow, in days of cash use $3,102,817 / ($5,280,132 / 90) = [object Object]
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 14 | First quarter earnings | Positive | -9.1% | Revenue growth and reduced operating loss accompanied financing activity. |
| Mar 31 | Fiscal year earnings | Positive | -1.0% | Annual revenue growth and lower expenses were reported alongside additional financing. |
| Nov 13 | Third quarter earnings | Positive | -6.6% | Revenue increased and cash use declined, while a public offering followed. |
| Aug 14 | Second quarter earnings | Positive | +7.9% | Revenue growth and lower net loss accompanied commercialization progress. |
| May 15 | First quarter earnings | Positive | -5.2% | Revenue growth and reduced cash burn accompanied additional funding disclosures. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings-tagged history averaged a -2.79% reaction, with four of five comparable events marked as Divergence.
Key Terms
epigenetics technical
liquid biopsy medical
neutrophil extracellular traps medical
at-the-market facility financial
in vitro diagnostics medical
AI-generated analysis. How Rhea-AI works. Not financial advice.
Conference call to discuss financial and operational results scheduled for
Friday, August 14 at 8:30 a.m.
Cameron Reynolds, President and Group Chief Executive Officer, said:
"We have made strong progress across all of our product pillars throughout 2026 to date.
"We are currently in discussions, including undertaking technology evaluations, with more than a dozen of the world's leading diagnostic and liquid biopsy companies where our goal is to enter into licensing agreements and other arrangements that will bring revenue in the form of up front milestone payments, royalties and/or other recurring revenue. Discussions are at various stages of the negotiation process across our different pillars with our laser focus on executing further licensing agreements.
"We announced our collaboration with Sysmex Corporation, a global leader in the field of in vitro diagnostics for hemostasis and thrombosis, among other diseases, where Neutrophil Extracellular Traps ("NETS") play such an important role.
"In May, we announced the submission for peer review of a clinical manuscript reporting the high accuracy of our Nu.Q® Vet feline prototype assay in detecting lymphoma in cats, our third species. The publication of this study in a peer reviewed journal is expected subsequently to unlock a
"We are working with our long-term collaborators at the Hospices Civils de
"We continue to add to our significant data rooms with published, submitted and confidential data across our product pillars. Most notably, we recently announced the publication of our first peer-reviewed paper demonstrating our breakthrough Capture-Seq™ liquid biopsy technology.
"The Total Addressable Markets1 (TAMs) for our technologies, on an annualized basis, are multi-billion-dollar opportunities (estimated at more than
Financial Highlights
- First half of 2026 revenue was
$1.4 million 112% growth over the first half of 2025 - Revenue for the second quarter of 2026 was approximately
$0.4 million - Operating expenses for the second quarter of 2026 were
32% lower than the same quarter in 2025, reflecting the impact of our cost reduction program - Operating loss was
$4.2 million 34% versus the comparable quarter in 2025 - Net cash used in operating activities was
$5.2 million 18% lower than the same quarter in 2025 - Receipts in the second quarter of 2026 included:
$1.2 million $4.1 million
Event: VolitionRx Limited Second Quarter 2026 Earnings and Business Update Conference Call
Date: Friday, August 14, 2026
Time: 8:30 a.m.
Toll/International: 1-201-493-6779
Conference ID: 13762190
Louise Batchelor, Group Chief Marketing & Communications Officer of Volition will host the call along with Cameron Reynolds, President and Group Chief Executive Officer and Terig Hughes, Group Chief Financial Officer. The call will provide an update on important events that have taken place in the second quarter of 2026, subsequent events and upcoming milestones.
A live audio webcast of the conference call will also be available on this link. In addition, a telephone replay of the call will be available until August 28, 2026. The replay dial-in numbers are 1-844-512-2921 (toll-free) in the
- Data on File, VNRX TAM Model
About Volition
Volition is a multi-national company focused on advancing the science of epigenetics. Volition is dedicated to saving lives and improving outcomes for people and animals with life-altering diseases through earlier detection, as well as disease and treatment monitoring.
Through its subsidiaries, Volition is developing and commercializing simple, easy to use, cost-effective blood tests to help detect and monitor a range of diseases, including some cancers and diseases associated with NETosis, such as sepsis. Early detection and monitoring have the potential not only to prolong the life of patients, but also to improve their quality of life.
Volition's research and development activities are centered in Belgium, with an innovation laboratory and office in the U.S. and an office in London.
The contents found at Volition's website address are not incorporated by reference into this document and should not be considered part of this document. Such website address is included in this document as an inactive textual reference only.
Media Enquiries: Louise Batchelor, Volition, mediarelations@volition.com, +44 (0)7557 774620
Safe Harbor Statement
Statements contained or referenced herein, including in any associated video or link, may be "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are those that are not statements of historical fact and instead address predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance. Words such as "expects," "anticipates," "intends," "plans," "aims," "targets," "believes," "seeks," "estimates," "optimizing," "potential," "goal," "suggests," "could," "would," "should," "may," "will" and similar expressions identify such statements.
These forward-looking statements relate to, among other topics, Volition's expectations regarding revenue opportunities and growth; the effectiveness and availability of its blood-based diagnostic, prognostic and disease monitoring tests; its ability to develop and successfully commercialize such test platforms for the early detection and monitoring of cancer and other diseases; its expectations regarding future publications; and its success in securing, and the terms of, licensing and/or distribution or other agreements with third parties.
Forward-looking statements are based on current expectations, estimates and projections about Volition's business, in part on assumptions made by management. They are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and that could cause actual results to differ materially from those anticipated. These risks and uncertainties include, without limitation: the results of studies testing the efficacy of Volition's tests; failure to develop and commercialize its products, which may prevent it from executing its plan of operations; failure to obtain necessary regulatory clearances or approvals; failure to achieve healthcare system or insurance reimbursement; failure of the marketplace to accept its products; failure to secure adequate intellectual property protection; the highly competitive and rapidly evolving nature of the diagnostics and disease monitoring market, which may render its products obsolete; downturns in domestic and foreign economies; and other risks identified in Volition's most recent Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q, and other documents filed with the Securities and Exchange Commission.
Forward-looking statements are made as of the date hereof and, except as required by law, Volition undertakes no obligation to update them to reflect future events or circumstances.
Nu.Q®, Nucleosomics™, Capture-PCR™, Capture-Seq™ and rNuQ™ and their respective logos are trademarks and/or service marks of VolitionRx Limited and its subsidiaries. All other trademarks, service marks and trade names referred to in this press release or associated video or link are the property of their respective owners. Additionally, unless otherwise specified, all references to "$" refer to the legal currency of the United States of America.
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SOURCE VolitionRx Limited