HENDERSON, Nev. - VolitionRx Limited (NYSE AMERICAN: VNRX), an epigenetics company, has entered into a supply agreement with Fujifilm Vet Systems Co. Ltd, a prominent veterinary diagnostic service, to provide the Nu.Q® Vet Cancer Test for dogs in Japan. This deal will allow Fujifilm Vet Systems to offer the cancer screening test through its network of laboratories to veterinarians across the country.
The Nu.Q® Vet Cancer Test is designed to be a simple and affordable blood screening tool, aiding in the early detection of cancer in canines. Dr. Tom Butera, CEO of Volition Veterinary Diagnostics Development LLC, expressed excitement about entering the Japanese market, which is served by Fujifilm Vet Systems' extensive network of ten laboratories. He highlighted the potential for the test to be easily incorporated into preventive care programs during regular wellness visits.
Dr. Jasmine Kway, CEO of Singapore Volition, noted the significant market opportunity in Japan and the anticipation of working with Fujifilm Vet Systems to distribute the test nationwide. Kiyotaka Fujiwara, COO of Fujifilm Vet Systems, also welcomed the addition of the Nu.Q® Vet Cancer Test to their service offerings and the upcoming availability of the test for their customers.
The company's R&D is primarily based in Belgium, with additional facilities in the U.S., London, and Singapore. Belgian Volition SRL, a subsidiary of Volition, is the party to the supply agreement with Fujifilm Vet Systems.
This article is based on a press release statement from VolitionRx Limited.
InvestingPro Insights
As VolitionRx Limited (NYSE AMERICAN: VNRX) forges a promising supply agreement with Fujifilm Vet Systems Co. Ltd, investors are closely monitoring the company's financial health and market performance. Here are some key insights based on real-time data from InvestingPro and InvestingPro Tips:
The company has shown an impressive Revenue Growth over the last twelve months as of Q3 2023, with a figure of 224.04%, and an even more remarkable Quarterly Revenue Growth at 405.02%. This suggests that VolitionRx's business is expanding rapidly, which could be bolstered by the new supply agreement for the Nu.Q® Vet Cancer Test in Japan.
Despite these growth figures, it's important to note that the Operating Income Margin stands at -5415.58%, indicating that the company is currently not generating profit from its operations. This is echoed in one of the InvestingPro Tips, which cautions that analysts do not anticipate the company will be profitable this year. Moreover, the company is quickly burning through cash and has short term obligations that exceed its liquid assets, which could present liquidity challenges in the near term.
Investors should also be aware that the stock has experienced volatility, with a 1 Month Price Total Return of -19.05%, but it's worth noting that there has been a Strong return over the last three months with 28.77%. This could indicate some recovery or positive investor sentiment following the recent developments.
For those considering investing in VolitionRx, there are additional InvestingPro Tips available that could provide further guidance. Currently, there are 10 more tips listed on InvestingPro for VNRX, which can be accessed for deeper analysis. Interested readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
Understanding these financial metrics and insights is crucial for investors who are tracking the progress of VolitionRx Limited, especially as the company ventures into new markets and continues to develop its product offerings.
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