VolitionRx Limited (VNRX) 12 May 212021 Q1 Earnings call transcript

Good morning, ladies and gentlemen. Thank you for standing by. Welcome to VolitionRx Limited First Quarter 2021 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. is today, conference XX, This Instructions] being May recorded XXXX. [Operator the now over like would conference to I turn call to Mr. Scott Relations. President of Vice Powell, Executive Investor ahead. go Please

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

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We are happy questions Operator. now. take to

with Cantor the question [Operator from comes Fitzgerald. Mikson Instructions] line first Your of Kyle

and So you about launched what could is. talk strategy first can I products the be the how nematocysts was go-to-market if wondering

on wondering how there monitoring, to later? you about understand be on most like say I in assays Or analyzer should think is like of first And that for be that? is you the which was plan, then And like, then product do Europe amino it or we say the are assays a multiple likely going was [indiscernible]? when Thank do the and actual but go-to-market broader what that you Specifically I use the disease the kind launch you allies going I beads the launch launching beta thinking. you. get? platforms, mean just or mean like probably when to a from like

I and them one if will questions. I Kyle, more for sure return. you, them, please thanks Thank than forget your make answer of

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efficacy proof groups five in as six the were the our of have them or a show trials using of now like bunch, We to own different who in their concept. hands assays

is coming question? Does that all answer your So together that really well.

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everything. so And strongly much much to we be expect is least we work and timescale at quarter it I But as going as new are a the to can given is doing or how delayed. it two, really would out

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very it I understandable, is just Alright, fair. one and had last that question. is

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if and that end the relationship was of and it the you start. see and So want first the a will. if it between the to see we they on good good do one, year the we run first will get to how this but continue is goes now board, And

of the with from Company. Your next comes Bruce Benchmark question line Jackson

would to of ask NETosis the a assays. questions Hi, you like about I couple

where if study which the So have yet collecting pre-conference? for one so, conference, that at? been Have material you it samples? And a be you these have got presented you submitted would COVID-XX data

Yes.

gotten getting to tough couple with a we get And study. wards. have So of been naturally sort paths, of do the concerned off their the big in everyone to is ground, emergency is we very tried quite that because a well, different sick

So in from, takes of attention have them samples it But the obviously which busy, lot lot of extremely not obviously months. serial trial. a been in something last away a especially a London complicated and collecting is few

been So working in a people few incredibly have we good the have with, COVID. been networks, through different they

the I it with one, work. And but only bunch is like the publication, believe next this. And I are we I next I you very They is we out. in bit, good. are the through the hospitals, in happen hospitals, submitted ones the have, comfortable, comes months but July. one very, data so space. there. talked ahead. takes the a data. don’t problem best have week means the best when mean, next some they very happy when it about COVID large very two to just That a the said But as to they they London from tend world And more They guess for three to time little the do do of the a or conferences, is with which it more conferences and be out

COVID. active have of that in going research now. it them. several groups we model in goes pig supporting NETosis through model other a therapy our the But in coming been in So very them the of stream and who to with also this assays I can’t both details there rest the see you human providing knowledge sepsis is NETosis field year, animal also areas sepsis, I and give how of our in with for have And would see the of steady where

quite once with shine, sepsis, get population been have that there months regulatory there away. can run. summer, month of them is the CE is, a matter with which I we CE small over the the of and now the you So renowned at partners through winter, doing at a year. quickly extremely particularly with range we the well which are quickly, is we mark, again, needed happen first because encouraged and is size in Kyle, work guess large been of rain very for with we mark one the our discussed developed. I I in that a for been always studies have is studies, once or who sepsis number attempting have get can delay, we coming also emergencies. in is become And And the with specialists hospital. to we actually think COVID can our the world And It numbers it as are have platform work a so is large a then it And sepsis

platform. be going excited couldn’t or the way is I So with happy more our it

patient selection for not regard but out a said, just diagnostic excellent kits even at of busy, is of different the in independent the clearing our shipping have nothing We nets. have only very companion as has diagnostic, but been case, I short with not And it been the got doing we things the treatments every NETosis. to assay, quality well people. feedback to potentially, And very of how as in or also for

question will So the big that data year. really, market be very through potentially of there Does excited we And and answer your about. are a lot a Bruce? really something

if could I the sepsis follow-up application. Yes,

also use And the presentation? data do assay? you in-house submitted have it So of that, for that been has for for

come. Yes. And lots more to

So a a presentation. of is it bit

on published, we the published, as you as can And have the was with don’t therapy. on more as than progression data lot, a are faster, you we six in from the just we pig a in from, marker So was obviously, have them. have, and well plate and forget, through hours. also stabling. we probably I published an was every we the the good this things haven’t and very think also, poster And all extremely for disease been robustly it see things want are And that model now on working system, RFA situation worked a incredibly

quite fast. So that is

the also of are XX platform done working, beads, it in also care. be so we So can minutes. point sepsis And putting on potentially

on is diagnose aren’t in how you and you ahead aren’t think, measurement and could you for One main is next that So that are know, is lot who really you. is many. up useful, there of kills Bruce, treatments two sepsis I it creeps think a two you hospital, have those you there killer, very if get And to great almost it theoretically, big actually reasons. And level. early instantaneous of, if for, a it the for early tritton, of and a often the wondering

nothing is And good there certainly a real So good partly in real is is not but no diagnostic there because it for diagnostic. time. therapy, really is there no that legal

very really this think lot to I very, people. really, helpful something So of could a be

they bit have silver in Do contemplating. And then us one a studies are give they yet? you you little to And research flavor large companies. some of a with business regard for from have the any of contracts the been hand talking [indiscernible] are, to types this that contract

actual it? the trying Or in the looking they on something a handle Nucleosome diagnostic? companion an application as where mind, example, get testing do So at are IQ they are they have to for is

assays, far we so only where purpose have been even of been worked mind. we their animal with the so have actually groups very have of recently the well. in use development mainly in as toeses. a space Also the as cancer obviously, A therapies our lot have looking few lot in actually so dog quite space, happy efficacy of a But started monitoring the in to we yes, A have of they we both, but a handful in response. with in

profiling. member there steady the looks one have tree. manual is sales demand for out has a And epigenetic turns We who there been chasing is like

So yes, four particular uses. it is

more the to quote, figures. very be a you But seven becomes the that very small, that much over it of are you of to of at. good the But But continuum that sort at can it FDA But XXX(k) sit can of could in looking don’t on very where most to is so into kind if of tens are to very part typically looking starts large progress be amount. obviously, be sort or period, it it more things big course, of ballpark known, six way then larger talked of level. A is publications, small study, a out depends to. as good So about month get thousands we get very dollars. of get way you in revenue, the a the getting way good

expect I So yes, the to would the you is nowhere. suppose contracts, of is, it never certainly might discussions see, there interest. I But lot know, go a

well them of advanced. Some quite are

think to short it sort term. medium good moving. didn’t So of a is we new is We very about I think think or I if see assays. could one I And And them of just the producing. XX encouraging for things close get XX there silver presents it were a custom I XX to now offer surprised way be is service would few in to recombinantly is different different

potentially, you could a service and well, the capture year. could as revenue which next be as So

believe, taking be that it it are I’m breadth as as epigenetics And is sure and could you is quite far us. abilities do. wherever unique what off, I I service So good very we so and know what as can for well, a in it the really is of process could be

line next from McCarthy question Maxim Your comes Group. Jason of with

on [indiscernible] It Jason. is for line the

cancer National that in but study steps to human lung the And the just update. programs the cancer studies? a have kind pause, of other us about take same you status what you like the now through the for you and So on walk Taiwan that We full kind a would deeper of I like, see you enrollment big diagnostic colorectal? bit give the got on blood platforms. if like of us to that can know Especially has need

Yes.

because London first in blood blood space, needed test. guess the I one is that So human the is cost, look is a or fantastic space, are cancer low did XXs the we the and or panel. it have the maybe the more results. always lung which reason we remarkable said accuracies, high for XXs quite in easy-to-use AUC’s got I assay, do we just mean, obviously, But a assays very two work, colorectal to bed studies,

something And a you so you And on that four a of have ready. broader not five to also, plates assays range use different get or for. platform, would is

So do hard it range to beta CRC, essays. [indiscernible] would need you plates, have because on been just wide in very a launch a of

space, pivot were easily. results, very spectacular the NETosis where launch simple a actually can thing finalizing fantastic a we we that small now has that quickly of can essay So focused efforts is all because, simple again, we we optionality and very on couple relatively very is a have lot of back end to assays, of team. haven’t The got the our only which Vet

broader it because the of if each bring would lot work. lot of think takes obviously time we incredibly to hadn’t I is work lot product a a a assays, a of the background to of for detailed spent assay platform with finalizing been for range detail. pandemic, It a not stage, have

assay. of we and that. assays done still to particularly, are to process biggest fully products the vet are they XX-months need have one So the you in of through for going and which they can sure just concurrently the you be go to to which the and each collecting space. mean, Taiwan’s but take I can still NETosis a ready in it can now reproducible, markets. But while you them to not we are work do the obviously, use, making lot But per six-months robust have take course

of if a on to Asia, assisting I in name launching Asia, they platform simple player can’t us part about the particular I a and major said it, talking mention are who but with in one We Asia. are more

just to off, are country proof to that platform put trials. through accepted are we good effort that easily probably in is and So market, trying still entice of U.S. but And we it friction, have to bit that be colorectal. more concept. given a has is a very, out low because we of how take how have they taken with still not a work the regulatory that Asia, very not we much into, for and they happens, strongly and finish could now going so work But they are to enough think ready, background I go large have the off that really the us good and to lung obviously,

a very in that because first, U.S., product getting is blood very be that the probably simple panel, would because focus and we product given have XXX% XX% to to it and I on more tumor bit the So but fact still close after never more to have so to, can is always ready, through work. taking we you the if cancer tumor, on understandable, you of details humans or upfront, solid I paused have in do quite the to is more got with it panel, the think we a records out one AUC do want work which do liquid a local the background. is that. on it run We is assay

cancer optionality but the and the very would with is thought So I’m to going NETosis given in the the and space. vet we fruit blood low we hanging colorectal but at moment go the where

EDR while And that Nu.Q kind line of Is I you program. especially colorectal or the cancer add like main you also then three histone Thank about assay to would ask studies AX the very could you the U.S. pause? to that capture to HX on much. that the something and discovered

Absolutely.

So necessarily thing. a not actually, it bad that is is and

adapt us We to in panel a can more gives discovery. assets lot have getting biomarker been work. the platform. And it. a actually to on polls, been colorectal Absolutely. is are looking helpful we very mean, it time add those I for big we is And proven of

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that is add not have we doing Nu.Q the answer So the are program new capture is reasons short described. is many absolutely. that And the of to one also biomarkers previously been

apply so then launch and Thank talk been since one about, that beta far take it how the national the as a started talk I ask of I Vet, it can the would have for launch, to months more, of to could you. seven around bit what Vet if kind and you can have learned you you Nu.Q this year? you see And just more is like space in later

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worldwide. a is and but in fine So space, way and in along, all I solution forward think But this prove have taking puts very is and very going hundreds what be do I of is is this move mix I very serious are that to reps think a that space. of we wanted providing and all good big us human a in is of the I the that in companies to position. ourselves think seriously, hundreds to salespeople fair to think the And as get well. true But works also, vet certainly kind it The really part discussions. we and is say it And a tuned. good also it it

hopefully going big our I as be So of think mix well. part a that is to

quarters is smooth be and also launch there there we if the end coming in expect in one really well, we is doing obviously our it majors, good the product in launching been deal big of need all well. a should smoother think internationally much for all, Because a internationally. also Asia, process I make as a as with nationally and because And really it up and of So one to Europe us.

Agesi Capital. at Your of next from line Nathan Weinstein question comes with

as I next Nu.Q the of we we suppose Discover thinking those Nu.Q sequential revenue start of to just Vet kind be ramp? a sort about and about on programs, on think should few quarters

do I at will a time. one Well

sales, as in dogs, but not quite is talked do we couple so So hundred of order Nu.Q a debit $XX each. about enough Vet, the ordering, each to

hundreds. in revenue XX,XXX is it out can how work Now many the roughly

on marketing We more in are questions. much at these because all a putting not the are moment, lot very all answering we at

market next licensing into few go effort the also course, up the because all and sort in for of to other that So processes. don’t launch we the national putting I have and to own the of our months, are expect negotiations

huge expect So big rise the big we would good to there to but we supercharge. with will of get we companies think Michael, Yes, as we the but people think look are think marketing absolutely I And all I national I that sales licensing interest, has spending much worldwide. the be been it point said have and launch. deal using hundreds using. budget I tweaks Because I can hundreds a this after would that change now. going no been are have there the if launch is When nationally to

wrapping is to be up, In that is that obviously a as done So that it if different whole deal. a is, is potential quick. if

to bit couldn’t some $XXX,XXX, some as euro. can lumpy, yes, discover, or can low deals $XX,XXX, be I be said, as going You because a mean it is over

you to next through the get that one couple strongly I a would not think I in might I year but few. in So quarter, you a up expect And year, to the as see expect well. might through next would pick quarter,

deals, also things is, provide space. it and guidance, or may licensing potential not Vet discovers we going clear in change the how becomes look it as the well. have potentially soon as how that may discussed human we also would being as So going, will a mixture, Asia, deal that happen, and In licensing how but

either quite up through some launches the I on be licensing lumpy, international a a national Vet deal. and clearer then or could be become I the next the few a with would quarters and lot quite think pick but the slow but through could strongly will or package quarters, And on movements discover the big expect to see gains a be year, So steady would should good.

it could make the be nature because deals. looks smaller, that Does And some just of how in sense?

And on Yes, Nu.Q Cameron. margins, having as a thinking is of about helpful goods. always particularly That revenue attractive maybe thank thought of then you, front. very just the have I cost

So I into thoughts other that then the one attractive, just plays silver wanted are to those maybe that modalities costs there the your and in on to compare costs, contrast get out long-term? and and testing how

a I to of in of obviously things. it our ways in software follows a follows. is this it is study not some whole ways is an these very MBA a kind some terms interesting, Yes, a It on. few in also in have of countries idea as a in offer all developing model how but selling. can are quality, good that have might see in of they maintain you many get a countries actually key we royalty to just And revenue components still particularly early not idea so the where license,

on sometimes moment, around per to costs it at each $X test. $X So the format, have But based the plate repeats. do you

And in of we down a for very the might than the platforms. to is Once it. few a now repeats. be for of maybe process you different And half So even on there beads, few need are to beads less might over lot, those goes cost a few get have to it you no the a or that. changing

sort moving market of it good silver forward, is in the does it are very chain. have a product. I everyone and And a one, margin, obviously, think we we so So make I Vet we looking are in think space, to so seeing mass

it going year. similar world lot a per I perhaps millions which hundreds throughput I thousands our think to is in it which lot, something slightly we goods several part And the easily of probably think target need tests of tests, just be lower screening a be we of price front. to particularly given having of be have something or point. is could on of more are to dropping very the we a fact product that the a But cost margin, is

is something as it terms. a goods as low think dollars, could unique we I at per simple if in a few very the and we we are position is because cost we think production, is, of I which it or ours se, full are have it can, So less when in even just be

at we price very obviously kind pretty we can the, are much have the recoup this a we And product you made business. investment large we margin. is can but in a any attractive You about put of the to put space, all volume that have

are a well And could in that to or people have $XXX for check price. but would be very something develop a and see step don’t We percentage magnetic the be want think sepsis, we a we starting be few So want very to at I regularly which it point sell hospital taken really not example. do is to on also if things can’t below of you you plates, test. to care large And progress the $XXX. to test, do a beads $XXX of high make dominate, just it they to to if on the society, on a by

be market. numbers But think I the massively. really to something really, it go which tests going up is then mass is of

a are really volume very we margin, sales. for way, think, we but either have is I high it of So pushing

call Cameron for Mr. the to gentlemen, and have to And reached Ladies back I we Reynolds like end turn session. the would closing question-and-answer of the remarks.

very I everyone. keep us really And you, next an your busy. way all appreciate quarters understand Thank on time. and you next the eye all year. And the please few months are through over and I

platform. strong I balance believe, we realize very ever We we team absolutely now a getting have had, strong we products a about have sheet fantastic have But and it is revenue. making

place we going team commercialization first have are we taking good products now in and very a to seriously. So be the that

for time. thank your So you

today’s concludes This conference.

your time. your for lines may participation. you disconnect You Thank at this all