VolitionRx Limited (VNRX) 13 Nov 212021 Q3 Earnings call transcript

Good morning, ladies and gentlemen. Thank you for standing by. Welcome to VolitionRx Limited's Third 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 open for questions. call recorded conference XXXX. November This Instructions] is today, being XX, [Operator now conference of Vice the to Investor to I'd turn Executive over like Scott Powell, Relations. President go Please ahead.

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

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

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

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

say call Whilst it, and I have but call how joining off all earnings Terig your kick you, time Vets, with given cash usually today. burn given Volition of you we start keep we rate Volition's our busy season. we for I on appreciate the where we conference Tom, low, Tom quarter, financial the will everyone, especially always our surrounding know with our anticipated Thank continued during Butera, Chief are updates over presentation report, you. this subsidiary. Dr. veterinary to Executive our to

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the been efforts collection of we in EDRN reported, And during slow of reinitiated call, announced is to anticipate the has diverted that The XXXX. The June completion quarter have enrollment study year. latest the enrollment previously in recruitment. As update fourth last this EDRN for as study steady. U.S. earnings some but drive

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look missing due in a we However, and in the to we collection forward set continues. not to samples, are to so position data yet analyzing complete data more a publish XXXX. And

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And so U.S. now we due have our operations. lockdowns. been are really shifting gears to The expand delays primarily to

robust U.S. to and are outsourcing operations functions. regulatory strengthen facility He and XX to team is with for started enough have of be and handle range in However, be and NETosis, using time we our brilliant expected we U.S. greatly operator, our facilities has Belgium. and the the both FDA Gaetan the to Chief XX Operating multiple filled Officer, our to relocated production people a a having commissioning cancer an Volition products. both to team are and Dr. the quality, studies R&D roles team building built human production FDA-compliant recently in from Michel, the about to and manufacturing in out Belgian U.S. up

he hub been to many recruit operations. next of also with are for upgrading San to has innovation has our our Capture. pillar discuss team continued on Terry concentrating tasked Now whom U.S. Diego, Nu.Q Kelly in members our Dr.

technology will used treatment potentially both in selection our could As calls, said either be and/or aid a and DNA believe with assays. sequencing technology, Nu.Q we combination I've disease and Nu.Q previous treatment on diagnosis, transformational the and Capture enrichment which monitoring as

mass feel as in of published It We gearshift Capture to Society on. earlier of University Capture identified with conduct have the part quarters. veterinary methods the is applications utilizing well. in key having forward early on in of research extremely of Nu.Q our as in Diego, publications quarter from to this such mentioned see using meeting to the continued poster terms Cancer pillar and made multiple we've have to a a program, development next exciting as dogs in for branching out recently data have sure, humans the spectrometry, front Vet our we lymphoma. and with experiments to cutting-edge now and our Capture year enrichment Tom in for great progress Nu.Q different from U.S. platform this I look of expansion, the so technology call, We Nu.Q use coming And number California based be sharing our to that innovation and users research a another San team reiterate, the team will part added Nu.Q of product in lastly, hires on State studies

Financial progress year have many We despite It over for the Terig? up amazing challenges amount pillars will on pandemic. of To Terig, the the up year. wrap is quite this our for be shaping of Chief made an all-important report. financial of our Officer, now call, significant to the really to pass I us

of manage I the of management. for million quarter the deal due burn as the cash the Tests The lower $XX.X From and U.S. we build million of remained the by the guidance, closed Nevertheless, given monthly a thank with previous the Cameron, a in we financial expect to provide earnings main our increase cash around quarter XXXX little sales out efforts you, including cash results improve Nu.Q for reflecting of impact mentioned. month to stable the We to increased key have equivalents expected, as this at reasons mainly approximately averaged $X.X the costs our resources Screening costs deals, burn continue increase revenue expected rate gradual year. in from September organization, if out $X end quarter-on-quarter, per the a prior than million excluding million a ongoing and tightly now our everyone, quarter for spend joining The third Cameron our human compared summary last is Thanks, month, launch. licensing the with of XXXX. in beta any or a quarter XX, of and to and call our year-end, of ended receipts $XX.X a will any. cash the rate perspective, just today. team, approximately Vet as nature cash

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commercial Cameron, given to of Vet you position, Volition a months So to the appreciate and earnings sharing the company milestones. Thank whole licensing and rest in key be Board We with questions. the much I, call the look and quarters. studies news to and to with continues results and the our happy company, summarize, today. take runway it, of We're coming healthy the along indeed, busy forward Tom over very financial call sufficient achieve much for season. your Operator? to publications very the the near-term joining

first Benchmark Our Jackson from Bruce Instructions] line Company. the with question comes The of [Operator

contemplating menu some So tests. the you're obviously, vet with additional expansion product, with

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Zacks. Instructions] next of [Operator from Our Steven line with question Ralston the comes

bringing Could the One you Silver up progress go base there. at the and into revenue

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Yes.

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as months, the the next to few magnetic machine platform have well. platforms, very a And large the in do order plates, bead goes point of capacity from we'll what fourth we So bring a care. well throughput the high now, analyzers, our we'd hopefully, everything if

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the [Operator McCarthy line question Instructions] Our of comes Jason with next Maxim Group. from

for placed the Okunewitch of Jason. line obviously, biotechs. timelines bit Michael has is across This on pandemic a Cameron, pressure on the

sets data potential for environments. you you different walk the obtain timing human through need those So the if I'd and commercial assets for could to like which of to us regulatory see some near-term for the expected

I and commercial, start the human world guess, move across. will So around

Taiwan a is in who've least we're caused large China, going. They've next has, adapting their in them -- to us great hoping The colorectal some machines. from the first licensing to a it their have problems. work our starting where, you been us has platform quarter going So I lung colorectal And with the us, and to platform. story. National we're from know, the guess, as group, X. with their pandemic license They've which cancer, got licensing be and -- looking in or so to Asia, working group next in a [developed] they're University that's it underway very were the successfully year results

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visibility, the That in after talk the we something reviewing will now. about public but finished can it cancer be coming they're a conference, for so So also we'll that. from that's lung have whether work Taiwan. out. They've it, we're We're better hopeful it hopeful

to something first colorectal, either the be will we'll good publish of half like sometime -- to it's So in year. enough it's next have the assuming

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we're some has we hoping what one So every had see. to data set, of much on. very data complete working publish pretty time points, of had kind samples we the But which to we're didn't missing been until want the points, a so

last has that. see the well. to, have we'd actually I had been like also whether cancer in in our products -- see very changed from hopeful product see. are but where update pandemic. vet for happen the very as out that end that get has second work to trying of vet the papers expect one collecting every had diseases, the but range So We'll say, in of knows group, quite to we've every well, to same year time, you quarters stick they very so to monitoring year. cancer, it's next a worked colorectal as But we finish going from the had update human cancer, it's as of NETosis, They in can they timing-wise, with year. the EDRN, have the couple so next and not end we're next we'll real the to they've and to -- expecting wide -- at problems they're schedule during at front, them, next of still last no They've what's had on the the collection

those we're developed, And we've very May first analyzers. is of he's the plates got CE fronts. I of forward call, the U.S. which he's a by hired, of gave the if sure as NETosis possible we're approved a well I'm as of or worked move and was really And so of developed summer, team -- in and and is come but NETosis very trying of last what machine, NETosis. like that down if we where sepsis we've to [Remy] schedule. is platform in conclusion -- last actually to on of time extremely would what than in which with for adapt COVID at, the which the our last done, throughput and extremely, bring gentleman the applicability it from managed really because cost The ball run a our that we're the few He's in side, possible down doing the high [HAA] that for said past. to [indiscernible] very have Mark June on lot a a lower over ex-Roche to or signal even big because couple is for and as high potential this we also that's on So information well part it's to auto still broad get the on we the you've minutes looking followed a several July, quarter, quarter very we've on a not to and approvals. just

So we're one than you can the an use platform even simpler on.

that, we'd get we CE big a and different then, mark, So of trying summer, really news launch platform. expect the the have going of of platforms going as the approved we We've pace, amount bridge the said, but was first and license and work start lot the obviously, as too as have vet of off the as that the probably to not to all a same other I through can. to it far far. got NETosis, areas back the things market, from on in by different in the like all at the just the break go a have in to time one for We're in decided to We've all U.S. on U.S.

we're going U.S. CE the off the So next start work to summer. of the back marks

the the Non-Hodgkin's on -- So one that story of next for be studies I for the side. year, Lymphoma end of And was kind the U.S. forgot study. sepsis XXXX, would the

a we moved to working start clear I very when will. you of kind been on on, and had a throughput while -- like a mean, that we've on we've our to to I this trial -- high of want platform. EDRNs be been ago. from guess, throughput water didn't all for upgraded plates, it's so which waiting really it's we high going year started throughput has been that if start But the us, platforms, ahead -- But quite -- collection platform As stop and wanted we've now was that's a the high do, got started with, format been we delayed,

now, XXXX Non-Hodgkin's finish have we U.S. personnel collection the the way in cancers start on all it's QX very Lymphoma we're we for we at the trial so And -- many and it in very in all in said assuming the as didn't a that we'll U.S. But blood hope human looking have the much in I goes call, realized

can make there, So arrangements definitely where we mass by the in operator, regulatory and big really kick-start moving some we're U.S. to to FDA-compliant. Dr. Michel good looking get hires in our products best are who is that things, very the manufacture also over some the

will of the as So well. lot year in be next there a U.S. from news work

think covered I the side. human everything, didn't That's I? I've

that a commercial product? so just Yes. study, bit it. the a Appreciate then touch commercial-ready to upgrade the assay that a could you on practical into on give perspective you high-throughput just data Does regulatory from more NHL larger format. And with advantage

Yes.

long format. working using, on platform obviously, been the time. plate a been company working is the in we're incredibly now a we've So ELISA small a because beads It's We've well.

you do reasonably hours. Timewise, hours large it quick a analyzer in a is if six beads been vet to going mass turned day market great in product, like to you lot machines. a of around can running millions matter for advantages. critical year, done it's But a the are beads or minutes. Plates in -- high the are ideal. hour. in -- plates. working it beads at lot large situation of not of you're the of if we're The a And Our be per the it But greater for and and the machines throughput obviously tests, give same tight on tests bit plates. order order looking products an have and six magnetic starting plates. a gets on if It mean beads under new analyzers be looking in can run in be the it I

So that beads, you you -- gives can it do several one. it you by The advantages. -- one

to do six is is -- where can XX be. to about do five fine, a platform run just definitely or But day, next or works XX XXX the so in want machines you up if of sort high XX, plug-and-play, you run and or in which or but you of usually, throughput plates, -- XX batches the can really a -- where you want day. You

-- because taken we've -- lockdowns, the delays thought are and might with as we on So keep it's we improving. the moved well

a might minutes in So XX that, we're ward continue sepsis the you're with platform, or of too an gives process. a And in if on even space an that or but advantages. be you -- lot if long emergency look operation you you if it with upgrading during in actually,

So you on also done lateral result high XX throughput. latex high can in an like we've turn under machines care -- point in very, it's these around a and will of give HAA be you heavily which been can throughput use and very on and working almost it very instant flow, beads virtually which minutes,

whether it's provide to We think we I needs different markets we So with have platform. I care; we're address the throughput beads, be people, plates, doing company. and have really lot become auto of analyzer incredibly absolutely advantages high by our really well think different which that, what large which to as happy their from machines; And advantages; point want And a very an their disadvantages; is all it we've think of revolutionary doing are special. different machines. and I incredibly the think and successful solutions, as

have process. broaden have. much lockdowns out what the think we as done used the time we've to be having all been the work we we're of out the stronger, And it, in worlds So we can I do as really to going in while coming wisely

I'll gentlemen, Ladies the this Reynolds for any floor session. our turn back final comments. Mr. question-and-answer to concludes and

Volition. during We've the like you, to say, managed what while just I'd the know, towards on platform an keeping platforms, and do on can as is everyone incredibly everyone. extremely at pivot I I we to said, can as development and thank pandemic It's the on we well. much time do broadening what team as veterinary Well, cancer side really and human keeping exciting as the really our space, NETosis, going on the we also busy.

to few very next the few months think I the be are going next exciting. and quarters So

go keep to to eye you on close forward. us. updating look your forward time. things continue you a I please Thank for as So

This you. concludes Thank today's conference.

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