VolitionRx Ltd. Q3 2024 10-Q Filed

TL;DR

VNRX Q3 2024 10-Q: $175M assets, $81.9M liabilities. New loan & director deal.

AI Summary

VolitionRx Ltd. filed its Q3 2024 10-Q report on November 14, 2024, covering the period ending September 30, 2024. The company reported total assets of $175 million and total liabilities of $81.89 million. Subsequent events include a loan agreement and an independent director agreement, both executed in October and November 2024.

Why It Matters

This filing provides a snapshot of VolitionRx's financial health and recent operational developments, which are crucial for investors to assess the company's performance and future prospects.

Risk Assessment

Risk Level: medium — The company's financial position and the nature of its business in the diagnostic sector present inherent risks.

Key Numbers

• $175.0M — Total Assets (As of September 30, 2024)
• $81.9M — Total Liabilities (As of September 30, 2024)

Key Players & Entities

• VOLITIONRX LTD (company) — Filer
• 0000093314 (company) — Central Index Key
• 20240930 (date) — Reporting Period End Date
• 20241114 (date) — Filing Date
• $175000000 (dollar_amount) — Total Assets
• $81898321 (dollar_amount) — Total Liabilities
• 2024-11-01 (date) — Subsequent Event Date
• 2024-10-02 (date) — Subsequent Event Date

FAQ

Key Financial Figures

• $0.001 — ich Registered Common Stock, par value $0.001 per share VNRX NYSE American, LLC

Filing Documents

• vnrx_10q.htm (10-Q) — 1551KB
• vnrx_ex103.htm (EX-10.3) — 59KB
• vnrx_ex104.htm (EX-10.4) — 14KB
• vnrx_ex311.htm (EX-31.1) — 10KB
• vnrx_ex312.htm (EX-31.2) — 10KB
• vnrx_ex321.htm (EX-32.1) — 5KB
• vnrx_ex103img4.jpg (GRAPHIC) — 3KB
• vnrx_ex103img5.jpg (GRAPHIC) — 3KB
• vnrx_ex103img3.jpg (GRAPHIC) — 5KB
• 0001477932-24-007207.txt ( ) — 7275KB
• vnrx-20240930.xsd (EX-101.SCH) — 87KB
• vnrx-20240930_lab.xml (EX-101.LAB) — 400KB
• vnrx-20240930_cal.xml (EX-101.CAL) — 55KB
• vnrx-20240930_pre.xml (EX-101.PRE) — 365KB
• vnrx-20240930_def.xml (EX-101.DEF) — 254KB
• vnrx_10q_htm.xml (XML) — 1254KB

FINANCIAL STATEMENTS (UNAUDITED)

FINANCIAL STATEMENTS (UNAUDITED) 4 Item 2.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 31 Item 3.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 39 Item 4.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 39 PART II OTHER INFORMATION Item 1.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 41 Item 1A.

RISK FACTORS

RISK FACTORS 41 Item 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 41 Item 3. DEFAULTS UPON SENIOR SECURITIES 41 Item 4. MINE SAFETY DISCLOSURES 41 Item 5. OTHER INFORMATION 41 Item 6. EXHIBITS 42

SIGNATURES

SIGNATURES 44 U se of Terms Except as otherwise indicated by the context, references in this Quarterly Report on Form 10-Q to the "Company," "VolitionRx," "Volition," "we," "us," and "our" are references to VolitionRx Limited and its wholly owned subsidiaries, Volition Global Services SRL, Singapore Volition Pte. Limited, Belgian Volition SRL, Volition Diagnostics UK Limited, Volition America, Inc., and its majority-owned subsidiary, Volition Veterinary Diagnostics Development LLC. Additionally, unless otherwise specified, all references to "$" refer to the legal currency of the United States of America. Nucleosomics TM , Capture-PCR TM , Nu.Q and their respective logos are trademarks and/or service marks of VolitionRx and its subsidiaries. All other trademarks, service marks and trade names referred to herein are the property of their respective owners. 2 Table of Contents CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS This Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2024 , or this Report, contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act, which statements are subject to considerable risks and uncertainties. These forward-looking statements are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this Report or incorporated by reference into this Report are forward-looking statements. These statements include, among other things, statements regarding predictions of earnings, revenues, expenses or other financial items; plans or expectations with respect to our development activities or business strategy; clinical studies and results; industry trends; anticipated demand for our products, or the products of our

FINANCIAL STATEMENTS (UNAUDITED)

ITEM 1. FINANCIAL STATEMENTS (UNAUDITED) Page Condensed Consolidated Balance Sheets 5 Condensed Consolidated Statements of Operations and Comprehensive Loss 6 Condensed Consolidated Statements of Stockholders' Deficit 7 Condensed Consolidated Statements of Cash Flows 9 Notes to the Condensed Consolidated Financial Statements 10 4 Table of Contents VOL ITIONRX LIMITED Condensed Consolidated Balance Sheets (Expressed in United States Dollars, except share numbers) September 30, December 31, 2024 2023 $ $ ASSETS (UNAUDITED) Current Assets Cash and cash equivalents 5,414,146 20,729,983 Accounts receivable 312,611 242,617 Prepaid expenses 689,995 521,370 Other current assets 384,189 360,125 Total Current Assets 6,800,941 21,854,095 Property and equipment, net 4,908,148 5,523,013 Operating lease right-of-use assets 635,857 549,504 Intangible assets, net 335,309 23,886 Total Assets 12,680,255 27,950,498 LIABILITIES AND STOCKHOLDERS' DEFICIT Current Liabilities Accounts payable 2,485,077 3,211,287 Accrued liabilities 3,480,207 3,928,761 Deferred revenue 22,893,400 23,000,000 Management and directors' fees payable 24,851 59,625 Current portion of long-term debt 965,021 1,207,007 Current portion of finance lease liabilities 49,990 48,570 Current portion of operating lease liabilities 219,060 199,323 Current portion of grant repayable 65,646 55,855 Warrant liability 96,225 126,649 Total Current Liabilities 30,279,477 31,837,077 Long-term debt, net of current portion 3,837,950 3,624,860 Finance lease liabilities, net of current portion 366,175 400,022 Operating lease liabilities, net of current portion 448,045 378,054 Grant repayable, net of current portion 388,898 422,707 Total Long-Term Liabilities 5,041,068 4,825,643 Total Liabilities 35,320,545 36,662,720 Stockholders' Deficit Common Stock Authorized:

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