VolitionRx Limited (VNRX) 12 Aug 212021 Q2 Earnings call transcript

Hello, and welcome to VolitionRx Limited Second Quarter 2021 Financial Results and Business Update Conference Call and Webcast. At this time, all participants are in listen-only mode. [Operator Instructions] A question-and-answer session will follow the formal presentation.

As a reminder, this conference is being recorded. It is now my pleasure to turn the call over to Scott Powell, Executive Vice President, Investor Relations. ahead. go Please

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

Financial Following Hughes, Chief call Development, and call Mr. today Volition Officer a our Cameron will our Executive session. Chief question-and-answer Reynolds, of conference remarks, the we and Officer, LLC. are Terig Mr. Also Chief prepared President Butera, Officer Tom open to on Dr. our Executive Diagnostics Veterinary

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

in on annual would over Executive Cameron. Mr. our course update during Commission. our to President Exchange with and We turn the have Reynolds. Form any not Securities call made filings recent operations obligation other quarterly to the factors do identified and the most our undertake We risk to on of with Cameron XX-Q, I this Form various call. like report statements associated now XX-K, Chief reports and Officer, any forward-looking

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compared reflected compared slightly same period quarter a research the year. loss Grant our in last $XXX,XXX approximately a higher the prior to $XXX,XXX than income in approximately we $X.X and General of than $XXX,XXX, commercial up was of to million, ongoing net to of primarily net result the and million $X.X the expenditures, approximately period earned prior of million, million, second the the $X.X year expenditure and XXXX, year and of During loss marketing organization. million same development reported period, $XXX,XXX sales $X.X doubled which by a higher more period. $X expenses last administrative in than to year. This driven quarter transition

of our approximately quarter we received also proceeds net XXXX, through the aftermarket of distribution or During second $XXX,XXX program. ATM equity

And and equivalents million million approximately XXXX. $XX.X XXXX at approximately cash so the end cash out second compared to the with of quarter we of of $XX.X closed

We expect of rate to from if $X average [DLO] burn the licensing a cash excluding million month, any. the going a around deals, impact forward income (Ph)

to position, given product nature from the first From from a in the parties, And of and given updates. pharmaceutical We for with also book quarter I commercial a opportunity continues sample revenue so, I further new beta our this are solid as opportunities year. Nu.Q launch. a companies of quarter into but second for commercial anticipate upfront than interest recorded achieving this should Cameron XXXX, building product with Vet. milestones. Nu.Q of revenue sales. licensing company to to a directly in come and don’t as least, processing beta future significant biotech the from perspective, to the the providing including licensing that our revenues team be such Tom’s for translate strong sales rather towards This XXXX that, companies, want the runway products steal external but solid we we not And we commercial perspective, just some arrangements, the believe mainly payments our pipeline launch Discover, vet seeing Nu.Q a of was the cash significant service researches. Last operational will pass of milestones, and Vet developing revenue with opportunities potential academic in back expected, steady interest continues $XX,XXX thunder,

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We are happy to take questions now. Operator.

[Operator you Thank Instructions].

Company. today first from Our from Benchmark coming Jackson question Bruce is

Your line is now live.

taking thanks morning. Good my questions. And for Hi.

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answer ready So for we get new as your to is strategy, course of for are Bruce? FDI with hire outline which our all sort the Ex the year. that question this us aim of well. European of that, and Roche on helping And top decades Does that who on is our strategy work looking is

thank so in queue. It does. And the hop I you will much. back

you day. a Thank Bruce have great

coming from Aegis is from Our next Capital. Instructions] Nathan [Operator question Weinstein

live. Your now line is

Good my taking morning and thanks for question.

us rate help start a is into is any if that reorder and beta perhaps say of be reception, kind anything going, can the great. appreciate So launch, you that would or Nu.Q general would Vet with understand how to you just sort view how could proceeding

Yes, absolutely.

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Yes.

it the first in was that is protocols, obviously ones about through in XXXX. quickly It trying is product will subtypes it full is think and we So, similar. in can to sides, ones, times well. be of the the you obviously not NHL. problematic. all the And There in longitudinal if huge lockdowns animal through And can it Jason understandable on is and I - of a the swing in potentially successful, I good very product been cancers, would What blood And just FDA, to and is about the be target those in go next I the the has very there need be for humans. is X% And year, going cancers data getting once amount tough pandemic, going, But data the time. be dog with six you let Were during person now is can product has similar the very that well. enough And also collections, as been to and the a the launch difficult. in of the very, think strong been I which come the That review. you so the to side, vet can take received pandemics. side, all on human cancers. is to vet submit in as scale him in the very date. XXXX. get type human are biggest our study think, very collections and very next have done very launch it achievable. But we combined to And And many yes, human are go time tell, then in FDA trial year, the extremely to would

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questions. Great. Thanks Cameron. Much Thanks my for appreciated. taking

Nathan. Thanks

Thank you.

Thank you.

Next Zacks. Ralston question from coming Steven is from

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Yes.

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that was. or the has names. is which it not Yes, and potentially effort tests launch is backed interest spent is beta much mention have market is wouldn’t product millions focus mass time been getting a Texas, in have and been the shared hundreds where focused up, good. to on per this I the the products would year, few big yes, on because So, think well But, I I people But given our is the in product. was strategic can of entire I lunch. partnership, product, millions in of would be extra like But think, because can that, organically around really by for that. you our I revenue per a is it first This year, very be parties. pushing opinion, sales we this grow no think an do so fund

but, in the obviously very are serious all We discussions, very are candidates obvious keen.

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of and industry benefits talking in knows being Tom entire So well his all chief are an And comes them life all very the executives with different we knows areas. the obviously each to. partner companies

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think, I signed. hopefully, was being no mean, deal I

them We and can we mean, launch if hopeful think the do you are good, we very grow not looking to and said, But we I organically. ourselves not deal but is want to. a So, potential sign it have very I higher And be do $XX grow quickly as to that billion with as or $XX you with some when of specialists billion smaller product one with reporting the are. could dollars care just even this billion, is for several are of one with companies company a area. much

really getting as Tom it So, more year quickly. this and I hopefully would launching a as much said look then signed, deal, at

will for Now possible, if is that reason, that and continue to certainly we doesn’t whatever grow. happen

sales push think, the quickest own first launches. way group a market We our will this easiest products. hire get and out best on But to mass I as

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half revenues other the XXXX Nu.Q in of Thank discovery. potential second you. in And forward the looking to

have provided them? and several go that what these them You deciding Generally, with quotes quotes forward the have companies. biotechnology mentioned to on to pharmaceutical and timing considering you multiple is

revenue have recognition good handful that through But actually going something a question, the we to a is Terig side. on requests. is of is That to And have actually. work do

hundreds the quite dollars. are them in aggregate, of of chunky thousands is certainly Some of it and in

year come many a year many how Now, is obviously two. have I book over actually through? them If book we program, or year? this a revenue of it can the How to

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many how year with going quite and quite and get can slow So But the quotes that this next same when them and up I few a of on we things, we I many for and year. strong as you book think converted growth revenue this time, think at have could show confident are speed quite some that year, down. they interesting. But depending we

Thank you for taking my questions.

you Thank Steven.

Thank you.

today Our from is coming Group. Maxim Jason from McCarthy next question

now is line Your line.

Michael is this Hey, the line on for Okunewitch Jason.

are months. expecting your Just you over larger release do readouts from press a NETosis, in coming some year later in this in mention here, coming trials the you few

those if could data could studies? from So bit more us what we points a wondering on I color expect give was you

Yes.

we publication released So through a now is just a sometimes conference, results, there publication, an that or as typically a peer example a lag time.

in are the example, about but months, way few just work. (Ph) July, out obviously talk not the they conference There process in public last work the represented going February, yet, came can’t [Lancet] year. in conferences very the be the this too lot being published range. are I on in that So data them London later been of is wide in because will a much there published is which and of Thomas was not ready great from for And but a

a for level, of where if The which, just driver, quite have efforts that things of haven’t of how this but have potential start. because in see, useful are look uses heart you I we And is attacks, think it a you can good care had person’s it not if ones the related looks is strokes. themselves our its spectacular sepsis, high metastasize you be you. to in times sepsis, big have. healthy it that, is is primary is in or in. abstracts quite the quite to just won’t renew. first if is again, influenza, a opportunity. epigenetic on conditions the I COVID, that main NETosis the NETosis ready. of really at normal In driver you you you be something could a cancer, intensive say NETS were is And if level hundreds the could and It chance, I signals many done, and it remarkable. the that I’m this, all recommend lot could NETS, sure our it but example in in read a in strongly is COVID, only is It if not be the amazing from as This July. assays There

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pigs, So that first as expect, can to and human, they a nets, humans using we remove doing our have they in they essays, had publication. better treated. now it been monitor, would if through well, be have that it what the and they fantastic Nu.Q goes potentially, show been If being can on have

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We are very mindful.

all We different ways make are can at are looking company the we products. now. we a product And

expect on So, as that news some well.

then Nu.Q that cancer coming lung And large this like to a specifically, much. very Alright, thank data pretty later you just I And is touch data briefly on set. year.

to market? steps be the product getting into for ask first next data So, would to human the I would lung cancer like the Nu.Q what after

is That Michael. good question, a

do. Obviously, something are to depends data. And we partly that looking on the

an working are which will cancer dose probably encouraging huge low for test. XXXX you lung as we is was for a was is remarkable the general today, would for at remember, quite something know, initial well, you is not was That As study. study it something process And close It it or is, samples, through, the answer a have I to as that data encouraging. is data. looking as

this So which as samples, side. but the finished and is what trial they doing that and XXXX And during now, in collection, to is managed Taiwan fantastic, an lot not colorectal of quite have also, the the XXXX has. pandemic, is but places do a are accomplishment there

sample So the they different data patients analyzing some at at the are we reviewing take collecting but which looking we XXXXs time, are now moment, are that clinical the data. worth of data, can

decision questions had been what we because and before, best ones. commercialize. see I was answered But very not path the we encouraging. current a on the that by as we will We clinical are for product, do make how other said a But it, then early do hopeful like for have we data

We and make data some the will see decisions. wait to

much Alright. Cameron. Thank you very

Michael. Thank you

Thank you.

turn question-and-answer closing reached have would We further floor over session. management the for your our of the like comments. I back to end to

you everyone. to being It Thank is exciting year. the start

months more a areas and of in strong they got have commercialization news you exciting time. happen. to look and you your we think updating even forward range the some very Thanks in coming where a to grateful should very commercial be year, now including focus I on have good difference very I for I’m the as

you. That today’s teleconference. Thank conclude does

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