VolitionRx announces proposed public offering of common stock

HENDERSON, Nev. - VolitionRx Limited (NYSE AMERICAN:VNRX), a diagnostics company with a market capitalization of $64.66 million, announced Thursday it plans to conduct an underwritten public offering of its common stock and accompanying common stock purchase warrants.

The epigenetics company said it would grant the underwriter, Newbridge Securities Corporation, a 30-day option to purchase up to an additional 15% of the shares and warrants offered, at the public offering price less underwriting discounts and commissions. According to InvestingPro data, the company’s current financial position shows a concerning liquidity ratio of 0.35, with short-term obligations exceeding liquid assets.

The final terms of the proposed offering will depend on market conditions, and the company noted there is no assurance regarding whether or when the offering may be completed, or its actual size or terms.

Volition intends to use the net proceeds for research and continued product development, clinical studies, product commercialization, working capital and other general corporate purposes, including potential strategic acquisitions. This capital raise comes as InvestingPro analysis reveals the company is rapidly consuming cash reserves, with an EBITDA of -$22.38 million in the last twelve months, despite achieving 35.1% revenue growth.

The securities are being offered pursuant to a "shelf" registration statement on Form S-3 previously filed with the Securities and Exchange Commission and declared effective on April 18, 2025.

Volition, which focuses on developing blood tests to help detect and monitor diseases including certain cancers and conditions associated with NETosis such as sepsis, conducts its research and development activities primarily in Belgium, with additional facilities in the United States and London. Get deeper insights into VNRX’s financial health and growth prospects with InvestingPro’s comprehensive research report, part of its coverage of over 1,400 US stocks.

The announcement was made in a company press release statement.

In other recent news, VolitionRX reported a 15% year-over-year increase in revenue for Q2 2025, reaching over $400,000. The company also highlighted a reduction in net cash usage for operating activities, with a strategic focus on achieving cash neutrality by the end of 2025. Additionally, VolitionRX announced a co-marketing agreement with Hologic Diagenode, allowing Hologic to co-market Volition’s Nu.Q Discover service to its customers for an initial one-year term. If successful, Hologic could become an exclusive provider of these services, pending further terms. In another development, VolitionRX entered into a research license and exclusive commercial option rights agreement with Werfen’s Immunoassay Technology Center. This agreement grants Werfen access to components of Volition’s proprietary Nu.Q H3.1 NETs assay for APS testing. H.C. Wainwright has reiterated its Buy rating on VolitionRX with a price target of $2.50, citing these strategic partnerships. Meanwhile, Benchmark maintained its Hold rating on the company, without specifying a price target.

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