VolitionRx Limited — Third Quarter 2026 Earnings Summary

Financial Performance:

• Third quarter 2026 revenue was approximately $1.6 million, representing a 157% increase compared to $0.6 million in the third quarter of 2025, driven by an increase in deferred revenue recognition.
• Operating expenses for the third quarter of 2026 were 14% lower than the same period in 2025, resulting from a cost-reduction program that included a 28% reduction in headcount.
• Operating loss narrowed to $3.3 million in the third quarter of 2026, a 35% improvement compared to $5.1 million in the third quarter of 2025.
• Net loss for the third quarter of 2026 was $3.8 million, including $0.4 million in non-cash charges related to convertible notes, compared to a net loss of $5.4 million in the prior-year period.
• Cash and cash equivalents totaled approximately $2.4 million as of September 30, 2026, an increase from $1.1 million as of December 31, 2025.
• The company received approximately $5.2 million in net proceeds from its at-the-market facility during the third quarter.
• Volition prepaid the outstanding balance of its $7.5 million convertible note in cash during the third quarter.

Business Segments and Product Lines:

• Nu.Q® NETs: Participated in the launch of DETECSEPS, a French government-funded €6.3 million program evaluating the automated Nu.Q® NETs assay for early sepsis detection in emergency departments. Published data in Critical Care Medicine showed Nu.Q® NETs H3.1 is an independent predictor of 28-day mortality and need for renal replacement therapy in sepsis. A rapid point-of-care finger-prick lateral flow prototype demonstrated high correlation with the CE-marked automated assay in ICU sepsis patients. Signed a Letter of Intent with Missionpharma in October to focus on triaging and prognostication for neonatal sepsis in resource-constrained countries. Collaborations with Sysmex Corporation and Werfen's Immunoassay Technology Center continue to advance.
• Nu.Q® Cancer: Advancing toward a French reimbursement submission for Nu.Q® Lung Cancer with support from Hospices Civils de Lyon, expected to be submitted in the current quarter. Following August peer-reviewed publication of clinical data for Capture-Seq™ technology, the company is in active licensing discussions with major liquid biopsy and diagnostic companies targeting Multi-Cancer Early Detection (MCED) and Minimal Residual Disease (MRD) opportunities, estimated at over $36 billion in combined annualized addressable markets.
• Nu.Q® Vet: A clinical manuscript submitted for peer review in May demonstrated that the feline prototype assay detected 86% of feline lymphomas at 97% specificity, with publication anticipated this quarter. A peer-reviewed publication is a necessary condition to unlock a $5 million milestone payment.

Management Commentary and Tone:

• President and Group Chief Executive Officer Cameron Reynolds stated the quarter was "very full" with strong progress across key product pillars, clinical utility evidence, and commercialization efforts.
• Management emphasized decisive action to strengthen the financial profile through cost cutting and significant debt reduction.
• CEO Cameron Reynolds voluntarily reduced his base salary to 50% of its original level effective November 1, 2026, until a substantial licensing agreement is executed.
• The chairman and entire board of directors agreed to reduce their cash fees by at least 50%.

Other Key Points:

• The company hosted a conference call on November 13, 2026, to discuss financial and operational results.
• The press release includes a Safe Harbor Statement regarding forward-looking statements and associated risks, including the need for additional financing, uncertainty regarding publication timing, reimbursement outcomes, and market acceptance.
• VolitionRx Limited is a multi-national epigenetics company focused on developing blood tests for early detection and monitoring of diseases including cancer and sepsis.