VolitionRx - Platform upgrades and busy 2019
VolitionRx's latest Q318 results announcement provided an update on the progress across its established R&D projects and added more detail to several newer initiatives. Management explained that the delays in some of the ongoing trials were due to the identified need to upgrade the Nu.Q platform assays to clinical grade. As a result, readouts from the lead trials are now expected throughout 2019 (previously end-2018/early-2019). According to management, upgrade work is underway and a number of R&D milestones are reachable within the next 12 months. Our valuation post share issue is $233m or $6.60/share.
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