VolitionRX Posts 133% Q4 Growth, Cuts Expenses 17% and Secures Werfen, Hologic Deals
VolitionRX reported 133% Q4 revenue growth and $1.7 million in 2025 sales, up 40% year-on-year, while cutting operating expenses by 17% and reducing net cash usage to $19.7 million. The company ended the year with $1.1 million in cash and secured $5.4 million via ATM, $1.9 million in convertible notes, and nondilutive grants.
1. Financial Performance
VolitionRX achieved 133% year-on-year revenue growth in Q4 2025, contributing to $1.7 million in full-year sales, a 40% increase over 2024. The company reduced operating expenses by $4.8 million (17%) and lowered net cash used in operating activities to $19.7 million from $25.9 million the prior year.
2. Commercial Partnerships and Clinical Programs
The firm received its first clinical certification order for the Nu.Q Cancer lung assay and saw its Nu.Q NETs test included in a $7.3 million government-backed French sepsis detection program. Strategic agreements with Werfen and Hologic aim to commercialize the Nu.Q platform, while 12 hospital networks are evaluating the CE-marked automated Nu.Q NETs assay across 15 indications.
3. Cash Position and Funding Outlook
As of year-end, cash and equivalents stood at $1.1 million, prompting $5.4 million raised via an ATM facility and $1.9 million from a post-year-end convertible note. Nondilutive funding of $2.3 million from the Walloon Region brings total grants to over $25 million since inception. No revenue guidance was issued for 2026, and reimbursement for clinical use is expected by Q4 2026.