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VolitionRx Ltd (NYSE:VNRX) President and CEO Cameron John Reynolds has recently increased his stake in the company through a significant purchase of common stock, despite the stock’s challenging performance, down roughly 31% over the past year. According to a recent SEC filing, Reynolds acquired 181,818 shares at a price of $0.55 per share, totaling $99,999. This acquisition was made as part of a registered direct offering by the company. According to InvestingPro, analysts have set price targets ranging from $2 to $5 for the stock.
Following this transaction, Reynolds holds a total of 2,299,222 shares directly. Additionally, through indirect holdings, he has control over 1,007,718 shares via Concord International, Inc., where he is the majority shareholder, and 34,076 shares held by his spouse.
This move underscores Reynolds’ continued confidence in VolitionRx’s prospects as the company advances its diagnostic solutions in the life sciences sector.
In other recent news, VolitionRx Limited has announced definitive agreements to raise approximately $2.3 million through a direct offering of over 4 million shares of common stock to various investors, including directors and executive officers. The proceeds are intended for research, product development, clinical studies, and other corporate purposes. Additionally, VolitionRx’s Nu.Q Cancer test has shown promise in a study involving 229 cancer patients, demonstrating the ability to detect 21 different cancers with high specificity. The test’s development marks a significant step in liquid biopsy technology, a market valued at $20 billion in the U.S.
Furthermore, VolitionRx has expanded its agreement with Fujifilm Vet Systems in Japan, now incorporating an automated version of its Nu.Q Vet Cancer Test. This expansion aims to meet the growing demand for canine cancer screening. The company has also reported that its Nu.Q Vet Cancer Test is now available in 20 countries, with over 110,000 tests sold in the first three quarters of 2024. VolitionRx is engaged in commercial discussions for potential licensing and supply agreements in the diagnostic space, targeting large markets like sepsis and oncology liquid biopsy.
The company has fortified its leadership team with the appointment of Timothy Still as Chair and Dr. Ethel Rubin as an Independent (LON:IOG) Director. These developments reflect VolitionRx’s ongoing efforts to advance its diagnostic and monitoring technologies for diseases in both humans and animals.
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