VolitionRx Limited (VNRX) 16 Nov 202020 Q3 Earnings call transcript

Good morning, ladies and gentlemen, and thank you for standing by. Welcome to VolitionRx Limited's Third Quarter 2020 Earnings Conference Call.

During today's presentation, all parties will be in a listen-only mode.

Following the presentation, the conference call will be opened for questions. [Operator Instructions] This conference call is being recorded today, November 13, 2020. turn of call Investor to Powell, to like President Executive Relations. now the over conference Scott I'd Please go ahead.

cover operating Thank you, of recent VolitionRx will activities for earnings XXXX, conference financial and welcome discussion upcoming everyone Limited. to along with and This of third key for the results today's a call Volition's quarter and our call milestones.

Chief will our Executive to a Reynolds, Also on call Following Chief are and call President Mr. Financial our question-and-answer Dr. Chief Officer; conference and prepared David Vanston, Jason open the remarks, Medical Cameron today we Mr. Officer session. Officer. Terrell,

these we Private currently this everyone as that concerning by future conference Securities these based Because statements. vary statements us. actual of events, XXXX. Litigation from Before Harbor of are covered some results on include to on used upon will information Safe discussed statements future Reform on well forward-looking assumptions. Act significantly or information to I'd to risks, factors as begin, expressed statements our beliefs, current based may achievements cause events materially a be reflect views uncertainties call results under assumptions may These performance like the of implied the based Actual have number different of and future remind we statements available the the results, that or our or involve these provisions

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Maxim now Group. a Instructions] McCarthy Our [Operator Thank Jason you. first We're is question question-and-answer coming from session. conducting today from

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sure. Yes,

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not has that quarter. begun should the it So sometime following enrollment begin in

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reagent Speakers] revenue actually, just I and think us the next about One complicated. [Multiple XXXX, could excellent. I do assuming help this here, So guess. Cameron, it's year Silver Perfect, near-term the you acquisition in know guys close rampant

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and working two a huge the key and make footprint a now the very antibodies controls. XX,XXX actually feet because as components, a that square well, Yes, products looking we're can and through amount the of small through it's actually

lot make out reach about a in for can X-X small room. So, and ground it a a of milligrams

not it's a comes So is. what capacity to It just the issue. down market

products, as we from Germany, in cost that those to about the controls bullish of -- now now XX% retail first Optima, the [indiscernible] we again as components. well down and So, the bought the ability have make antibodies, goes bringing the of buying course, making

the of huge that the more the a a Obviously across margin that's just hopefully good will down than it. bringing very goods, revenue So cost shape with at already increase margin. we're

next cheapest, going good things make That's middle of lot a certified. can Once our a Number we the there. contract going one, about doing something of you're which we'll make organization. research products year. be by to so margin. very We're a on have that is there also So

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one year of expect where incoming revenue small from from names people spent samples. get that We number was had had to last a XXXXX euros we

want don't it -- machine a of So to Nu.Q people assays. profile a set can meet a run up and up lab to set

to to epigenetic which quite billions, side those We in activity our be think to find them demand that very didn't really become have to be underway. bring in very, can know can others. it there us focus half what space really lot to even but the we our think that and meaningful products, reagents but really own, real sales huge expect epigenetic and think and to the antibodies, trying but going what the something pay-off retail first-half the program, amount reagent good of at be us lot this price today. down be expect good is they pharma don't important, sort we're we'd the huge companies, the want much and So multiple own be as but we talk them work our robust, of the as we we make market their products. we become forget and I is of in now done Nu.Q the will If on and the ingredients [indiscernible] is making we suck is great we've making the to and launches. for well, CRO anything, very We'll on anybody's of nucleosides, give is the as do also a a at about Nu.Q to going year will I'd very to themselves. obviously profiling, epigenetics into where in be, second think think really conservative for of revenue half make and know answer it's don't a of It be a I first getting the bedding kits shift considerable, it from amount there make before in license. for well wholesale I as It's We Capture we're next year. groups platform sure of -- the for start point think that a which going next charter selling now, licensed then view, year, could you own not and we our become and for profitable probably you also we in to certifications when can guidance market, and speak place very as to we're with could and

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biopsy platform. obviously just Okay, answer expecting last standpoint, maybe the more with you be remind touched but me, toolbox epigenetic where your just It's you, in in just update maybe of there. kind stand commercial Thanks. a us, areas of this we be Thank Nu.Q and that's what we're of on one us XXXX and business, really Capture maybe us awesome. for curious, term and one kind longer it's actually should interesting your you liquid Can just tell I kind may know of you beyond? and from

those, and laboratory just have young. in presentation. doing might bit the us absolutely. on will sequencing, team that We've grow Yes, where Terry a small very the commentary We're toolbox Dr. and on lot unbelievably that capture a California in the noticed a happy. just work a will have I'm actually Kyle It's year, the the my assistance on very and of is you math, slowly the makes small actually through have Capture, we excited focusing opened that side. and side, the we're so

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we us space. this footprint having really a So helps become there thought known in to

presented gone expect we've on format. to make back probably we product everything's side. you as So just because we bead we get we and it's doing making did exactly results quarter, sure not what to which the optimized see? We've last you and like and saw then results in did sure good some things very the We're plate in to around fully changed when a used the what get you optimized, have basic what launch to we're we that but got a think very I as platform good

platform the just now we're optimizing So pulling.

be that have first a but that quite more like we and the and to is just I'd in be easy come. So few next short to a be be mass as to as and and next then expected second, the quite two process, should quarter in separating that other now all we short quick we biomarkers as what a I and the lot been a through It shown way from that is, optimize well spectrometry, on one, lot it loans should identified DNA of go the cancer We've what years in be as we from short news and year through potentially we're where platform, product because optimize optimize soak of in the doing this quarter compared platforms. think domestic used to had nucleosomes to to could year commentary. the platform, reminder news a as the half new

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the forward progress in the appreciate industry. on than time a Really exciting answered an to and definitely it's you kind look Congrats Yes, questions Cancer hearing here. all again. Perfect. more Thanks of Screening future lot.

you, Kyle. Thank

you. Thank

next from Jackson Benchmark Company. Our is coming from question Bruce

live. Your line is now

same presentation my taking off the on go questions. for is obviously thanks IASLC, abstract If at Hi, going are offers you the into -- coming the to put with and to the bead the this platform it could these be at we that of plates, going data upcoming time? be

bead Yes, add [indiscernible]. then plates the beads some There is to there. obviously the progressed wider more platform. on of a the a markets range now, beads, and We've lot from

revealed. plates. available will on the a don't border now is than wide there So it plates want but on the be was fully a we have range a to funder, range I that fill

remarkable range it's quite work essays it's collect to get of to been in wide how that'll fantastic for managed available for. money so be on then, pandemic, all presented So is something teams definitely and amount and been to platform, that's a the of watch and the a through

that Okay, going after first? Lymphoma strategy on test. de good, and clear this novo Is FDA for XXXK perfectly a Non-Hodgkin's you're to be the the then

[indiscernible]. Yes,

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Yes, you're exactly right.

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Dr. in a have to thought last got a now. in [indiscernible]. out can. sure quickly was that So very the that she Terry on is as couple important came fully quarterbacking we're make that it we onboard, focus and months. We real it's epigenetic we've serious glad She's of leader on field, optimized she's cash separate the as really and to

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this I in yes, the in incredibly tell talk around tool you and we're there's as with know, as the I that being next publications, very inbound few in shouldn't so this couldn't platform, and of we in and unless use as get space the more the interest. be you of experienced think and of what in over there'll -- obviously when we it very on some it, So can epigenetic few but than of I be comes about exciting, that that. said, possibly And we've stage it ready lot been we're a quite can't [indiscernible] hopefully money that fully more good then the for we field, obviously and and anything say, because key we're we optimizing a amount thrown news optimizing else, optimization the for quarters, everything but good We've great now, pleasant -- products. become take think, long in before, that work. stage the I there's as components

So make something something publish we've, and some get could done be possible, to quickly homework. else we put sure when as and it be done because and as that nothing the again, it it we're that product taken a very seriously, very quickly power people some could on doing then to we

for That's much. that's it me. Thank right, you All very great.

great Thank a Bruce. Have you. day, Thanks.

next Instructions] [Operator Jason is coming you. Our James. question Dawson Thank from from Kolbert

now Your line is live.

to think replacing level, Hi, what very contribute guys, the profitability could competitive much lot I doing I is Nu.Q veterinary is they're both is revenue so about diagnostics, the themselves. very, adopt they Because and veterinarian what and real testing, themselves. this in-house achieve landscape, like in terms of this at of veterinarians to veterinary the incentive a I it will vets in-house and how focus are what great so to progress. level. market margin would practice mean just the in their things the the of the change on at how penetration for and clearly strategic

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anything So, good the bereft cancers. is screening completely competitive the of in the landscape of basically sense

next ways the on areas although we're paw test. blood it field also in guess human a competition we've are used, can good the plates. a good bead of on with -- lab where can doctors then humans, On -- quite a are a sometime the and fingerprint throughput, very, and it's of higher where product the be plates more care, progressing would running be be assay. very I that's fantastic had working on can the it unlike moment So, competition, well, the plan much dogs we We results We're few print simple year, fine, have dog's into blood. are in regards prevalent and are to the and point we -- the than a it cancers which the place where different and and much just a a blood there in cancers at

of is for places, possible point care said. you a also vet So very the

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more lot a charge vets depending where are. some on and -- think I So you

to vets them to from do I also because obviously be who well, they it very, It money should bit a very encouraged will -- to utility and through as little good. the help which something accuracy The lot it's do. cancer, test. which make everyone of of of think try a sort but the likes the is has shouldn't So can

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large number of said vets the test oncologists small the but in thousand as months. coming a of and a I a community only, the about reasonably just read journals, they community, over space. I will in It's there's reasonability a as number large think know in in certain U.S. a the

number of it's out it. a So A ordering with want, rolling we're of who start to something lists who other used know people it, if then to also the have very also order reason I they them. hot that's about zone centers, facility, can get then vets to launching and vets us. know doctors thousands think large will emails marketing the sort big and a about the through They very it all of then they large test in certainly number one work are of of they of but

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potentially, So we'll it's very find out. good

like entities Does get of explore some XXX for in veterinary level, America such it of to establish contracting of you're XX instantly of to that make kind sense it Veterinary proof at to with practices? and Centers kind example, contracted where other you and concept, processes, consolidated

obviously, with but not we're lot I all options. Absolutely, a at call public discuss this, can't on we're this looking because, of

as, there's that. tests So -- us, companies on. you in the if can number large is for to control the someone big highest to area, $XX this [indiscernible] involved as a margin of certainly be a a consolidation and there's lot which test, said, of lot Obviously a the IDEXX, sell tend of going but well can this we part a of space, as

would as and in be one same -- flexible. We're or well changing. do not been I burn very supposedly year, so very different dogs the get to just have but but do, -- don't millions this I which use think launching the all the -- potential it well, as isn't high be we prove in goes of is to to revenue into products meaningful, but out, possible so, discussions also rate hopefully have think going tests we've per tests cat large, that we're we'll even to incredibly just to as millions like if into get roll is space, that's with to, our numbers of those this -- concept, they groups the if also moderately

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million who but by vets, quarter, and there'll I going, a of I large and in think know be focusing percentage successfully micro dogs a not at we'll we think. launch moment Texas. but be X,XXX first market, there's good of should we're on are all how very have a played indication who under it's So the Texas, those in X.X then making the that the for, Again, just

the Thanks for update. Sure.

time, for Thank Jason. you. Thanks your

Thanks. Steven Ralston today from Zacks. from is question The next coming

is now line live. Your

Thank line. taking top to my Hello. on the like you I'd questions. for concentrate

order Nu.Q calculate for I was record first the will to those you Vet the tests. sales income product the that statement? mentioned on You X,XXX -- at $XXX,XXX, which When of be roughly

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obviously we'd they're one was be order would be what a tests first they reported week, quite lab, in indicative, $XXX,XXX first that then and a universities would that one month of a chains. the the of but the or so So sort go in five other so instance, what run and the would if that's we'd different expect that's year, can to the hiring just filing. is four The that -- ramp run in first a about places one the in lot up person demand higher, that order at and the time, through next of

are and I'll quote [indiscernible] time, for get in period that's So $XXX,XXX indicative longer really a we they very hiring test, run it to sort just shows would this it be right but They're not of will be reporting technicians moving. up of, revenue. they're now, it to the be that serious. -- which

of price -- but everything fully to a organization. it's that within make properly this month's will just said, first the order at first the be, supply, -- weeks, them we'll couple that they sure got away have the we've until maintain quote chipping it's finished, indicative keep for reported and So there's first I mechanism it's which and their as then -- is more

will kits? One the the mentioned looking you that be you're facility, do When and Silver Thank setup at in to start contract or you resume lab would first-half expect test the you, second-half. you'd services facility, this of give some and shipping -- XXXX

question of are year on do involved this do second-half who at situation, good we're the for, for you I'll We're of there. working through are some back questions, research working quite and how for what would him. Gaetan. process of components much any large I a to we so also quicker actually resource whether that We're but certification key use. people they're where they by still a the or -- of probably a the and That's long it working how very extra use number it the can much on in should and -- now. next be get will take sort when can than level say depending key they're things clinical Those in

a research a is very there ramp and soon, facility fit-out some plates, incurred which at be I from in finished, producing from this idea offline we've be by we'll things to of so on of surprised weeks, being our from of own We're the maybe and was really work the our doing what have Gaetan, start all looks and year, look but can contract own think to through will the but fill question now I facility, get from to so the end that that a lot own there quarter, we'll we'll in probably a that's there the I the the we'll controls, antibodies, would the good be -- like, finished to schedule really get pretty but something I this running in because fully then Now resourced as up might next once to what throwing saying but doing fit-out guess close from our process we he's think, the end next in very have now, probably Jason, upside. Q next few the and will of I in well. we year, that resources

the up meet demand but always or of that in quickly test can where downsides cancers want that You ready, there I with facility, is really we with the or if better surprised for demand dog our the we blood sales, the margin. of own much picks be can get that COVID the to make is test process a

but So really we're taking it really quickly. carefully, really,

by finished first lab. things definitely the next but and in year we'll end now, year, starting this the of doing So the be

you taking question. my Thank for

Steven. Thank you,

floor our reached like session. end question-and-answer you. further turn the to back Thank to the closing I'd or of comments. We've any for over management

being time we sure a the we're on call. space. exciting think be could for something entire many, the launch to I'd us, like thank first well extremely It's products. in and I for for then charged team of which We're about, during fantastic could product. extremely many make working to the first the and everyone Thanks our it It's pandemic

have fantastic and and intellectual property We just a team, platform is our fantastic.

year. I So is XXXX great think going be a to

really for I'm earnings for Thank looking forward on the to call, time. earnings actual So your call you very much the reporting the next K.

Thank teleconference. you. That does conclude the

You may for day. disconnect your a your today. thank line We you at time, wonderful participation have and