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Up Next: VolitionRx Limited (NYSE American: VNRX) Is In Focus This Morning—Wednesday, August 26, 2026…
Don’t Miss Our Next Update—Get Real-Time Alerts Sent Directly To Your Phone. Up To 10X Faster Than Email. Pull Up (VNRX) While It’s Still Early… August 26, 2026 Dear Reader, With less than 90 minutes to go before the opening bell, VolitionRx Limited (NYSE American: VNRX) is back at the top of our screen this morning. Between its recent peer-reviewed Capture-Seq data, expanding diagnostic pipeline, and multiple active licensing discussions, there is plenty here worth understanding before the session gets underway. A multi-national epigenetics company just published the first peer-reviewed paper on a technology that isolates over 99% pure cancer-derived DNA from a standard blood draw — a feat no other company has publicly demonstrated. The name is VolitionRx Limited (NYSE American: VNRX), and it is topping our watchlist this morning—Wednesday, August 26, 2026.

Early this month, Volition announced the publication of its Capture-Seq liquid biopsy paper in the peer-reviewed journal Clinical Epigenetics. The technology addresses what the company describes as the biggest problem facing liquid biopsy worldwide: the vast majority of circulating DNA in plasma comes from healthy cells, not cancer cells. Volition's approach produces virtually pure tumor-derived DNA — creating what amounts to a new class of biomarker for cancer detection and monitoring. Then, one week later on August 12, 2026, the company announced that its rapid finger-prick prototype for sepsis detection showed a Spearman correlation of 0.85 and a Pearson correlation of 0.881 against its established CE-marked Nu.Q NETs laboratory test — results strong enough to suggest the point-of-care format could be used to triage high-risk patients directly in the ER or at the bedside. On August 13, 2026, Volition reported its Q2 2026 results: first-half revenue reached $1.4M, a 112% increase over the same period in 2025. Operating expenses fell 32% year over year, and the operating loss declined 34% to $4.2M for the quarter. The company is actively engaged in technical evaluations and licensing discussions with more than a dozen of the world's leading diagnostic and liquid biopsy firms. Here's what has us watching VNRX this morning — Wednesday, August 26, 2026. Keep in mind, VNRX has less than 12M shares listed as available to the public right now. The company currently has analyst coverage from names including Michael Okunewitch of Maxim Group, Justin Walsh of Jones Research, Yi Chen of H.C. Wainwright, Jason Kolbert of D. Boral Capital, and Bruce Jackson of Benchmark. Published targets tracked across the analyst group currently range from approximately $2 to $24 per share, which suggests significant upside potential from where VNRX is currently trending as the company advances its diagnostic platforms and licensing strategy. That combination — a peer-reviewed liquid biopsy breakthrough, a working point-of-care sepsis prototype, growing revenue, and licensing discussions with global diagnostic leaders — is exactly why VNRX belongs on the watchlist right now. Before we walk through the recent developments, here's the foundation readers need to understand first. About VolitionRx

VolitionRx Limited is a multi-national epigenetics company headquartered in Henderson, Nevada, with operations across Europe and the United States. Through its subsidiaries, Volition develops and commercializes blood-based diagnostic, prognostic, and disease-monitoring tests spanning oncology, veterinary medicine, sepsis, and infectious disease. The company operates across five core technology pillars. Nu.Q Vet is an affordable blood test for cancer detection in dogs, commercialized through a partnership with Heska, with a feline lymphoma test now under peer review. Nu.Q NETs is a CE-marked diagnostic for detecting Neutrophil Extracellular Traps, applicable across sepsis, trauma, and a range of acute and chronic diseases. Nu.Q Cancer is a prognostic assay for lung cancer patients currently being prepared for reimbursement submission in France. Capture-Seq is the company's proprietary liquid biopsy technology for multi-cancer early detection. And Nu.Q Discover is a research services platform providing nucleosome profiling to pharma and biotech clients. Volition's business model is built around licensing its proprietary tests to large, established diagnostic companies with global distribution infrastructure. CEO Cameron Reynolds described the approach during the Q2 2026 earnings call: the company is pursuing arrangements structured around upfront milestone payments, royalties, and recurring revenue. As of August 2026, Volition is in active discussions with more than 12 leading diagnostic and liquid biopsy companies at various stages of technical evaluation and negotiation. Revenue for the full year 2025 came in at $1.7M, up from $1.2M in 2024. First-half 2026 revenue has already reached $1.4M, driven by a Q1 surge to $1.0M that represented 300% growth year over year and beat consensus estimates by 126%. Operating expenses have been cut meaningfully — total Q2 2026 opex dropped to approximately $4.6M from $6.7M a year earlier, aided by a 27% reduction in headcount. The company currently employs approximately 75 people and ended Q1 2026 with $3.1M in cash. During Q2, Volition raised $5.3M in net proceeds — $1.2M through its at-the-market facility and $4.1M from a confidentially marketed public offering of shares and warrants. Where VNRX Fits in a $27B+ Addressable Market

Volition sits at the intersection of two large and rapidly expanding diagnostic categories: liquid biopsy and point-of-care testing. The global liquid biopsy market was valued at approximately $6.4B in 2025 and is projected to surpass $36B by 2035, expanding at a compound annual growth rate of over 19%. The field is being propelled by growing adoption of non-invasive cancer diagnostics, precision oncology initiatives, and increasing payer acceptance of genomic-based testing. Guardant Health, Roche, and Illumina currently lead the space, but the market remains fragmented enough that differentiated technologies can carve out meaningful positions — particularly in areas where current methods face sensitivity limitations. Volition's Capture-Seq technology is designed to solve a specific technical bottleneck: the challenge of separating cancer-derived DNA from the overwhelming background of healthy cell-free DNA in blood plasma. The company reports that its method produces over 95% sensitivity for Stage I and Stage II cancers at 95% specificity in a blinded validation cohort — figures that, if replicable at scale, would position the technology competitively against next-generation sequencing approaches that currently dominate the ctDNA analysis landscape. Management estimates the combined total addressable market across all Volition pillars at more than $27B on an annualized basis: approximately $23B for multi-cancer early detection via Capture-Seq, approximately $3.8B for NETosis-related diagnostics, and additional addressable segments across veterinary cancer testing and minimal residual disease monitoring. Meanwhile, the sepsis diagnostics market adds another dimension. Volition's Nu.Q NETs assay already holds a CE Mark for use across 27 European countries, and the company is now part of the DETECSEPS program — a $7.3M French government-backed study evaluating early sepsis detection in real-world settings. The recent finger-prick prototype data expands the addressable market beyond centralized lab testing and into emergency departments, physician offices, and markets with less developed laboratory infrastructure. VNRX's 2026 Timeline: Earnings, Prototypes, Patents, and Partnerships
August 13, 2026 — Volition reported Q2 2026 financial results: first-half revenue of $1.4M (up 112% YoY), with operating expenses down 32% and operating loss reduced 34% to $4.2M. Confirmed licensing discussions with 12+ global diagnostic firms. Installing an IDS i10 automated analyzer at the Mayo Clinic for trauma patient model development. August 12, 2026 — Demonstrated that its rapid lateral flow finger-prick prototype is highly correlated (Spearman: 0.85, Pearson: 0.881) with the established Nu.Q NETs laboratory test in critically ill sepsis patients. Part of the SUMMIT research program. August 5, 2026 — Published the first peer-reviewed paper on its Capture-Seq liquid biopsy technology in Clinical Epigenetics, demonstrating the isolation and analysis of over 99% pure circulating tumor-derived DNA. July 7, 2026 — Released a clinical study demonstrating the prognostic value of Nu.Q Cancer in newly diagnosed lung cancer patients, prepared with researchers at France's second-largest university hospital system, the Hospices Civils de Lyon. June 17, 2026 — Announced a collaboration with Sysmex Corporation, a global leader in in vitro diagnostics (TYO: 6869), to optimize Nu.Q NETs on Sysmex's platform. Confirmed successful transfer of the assay and commencement of the optimization phase. June 3, 2026 — Filed a strategic patent covering the use of Nu.Q NETs for Ebola virus triage and treatment monitoring, expanding the IP portfolio across infectious disease applications. May 6, 2026 — Submitted a clinical manuscript reporting 86% lymphoma detection at 97% specificity using its Nu.Q Vet feline prototype assay. Publication is expected to trigger a $5M contractual milestone payment. 8 Reasons Why VNRX Is At The Top Of Our Watchlist This Morning—Wednesday, August 26, 2026…
1. Low Float: with fewer than 12M shares listed as available to the public, VNRX’s small float could have the potential to witness big moves if demand begins to shift. 2. Peer Reviewed: after publishing the first peer-reviewed paper on Capture-Seq, VNRX now has published data showing isolation and analysis of more than 99% pure circulating tumor-derived DNA. 3. Revenue Growth: with first-half 2026 revenue reaching $1.4M, VNRX reported a 112% increase compared with the same period in 2025. 4. Licensing Talks: with more than 12 leading diagnostic and liquid biopsy companies in technical evaluations or licensing discussions, VNRX is actively pursuing broader commercialization pathways. 5. Early Detection: in a blinded validation cohort, VNRX reported more than 95% sensitivity for Stage I and Stage II cancers at 95% specificity using its Capture-Seq technology. 6. Point-of-Care Data: after reporting Spearman correlation of 0.85 and Pearson correlation of 0.881 for its finger-prick prototype, VNRX showed strong alignment with its established Nu.Q NETs laboratory test in critically ill sepsis patients. 7. Multiple Potential Catalysts: with recent developments spanning Capture-Seq, Nu.Q NETs, Sysmex, Mayo Clinic, Nu.Q Cancer, and Nu.Q Vet, VNRX has several active programs giving researchers multiple areas to track. 8. Analyst Coverage: with multiple analysts currently covering the company and published targets ranging from approximately $2.00 to $24.00, VNRX has outside research coverage spanning a wide range of expectations. Pull Up (VNRX) While It’s Still Early…

When we step back and look at the bigger picture, it's easy to see why VNRX has landed on our radar. This is a company that just published a peer-reviewed liquid biopsy breakthrough, demonstrated a working finger-prick sepsis prototype, and is reporting 112% first-half revenue growth — all while cutting operating expenses by 32% and actively negotiating with more than a dozen global diagnostic leaders. The combined addressable market across all Volition pillars exceeds $27B annually, and the company is positioned to enter routine clinical use for lung cancer diagnostics in France by year-end 2026. Whether your focus is early-stage diagnostics, epigenetics, or companies operating across $27B+ in combined addressable markets, VNRX is one to watch. We have all eyes on VNRX this morning. Take a look at VNRX while it’s still early. Also, keep a look out for my next update, it could be coming any moment. Sincerely, Jeff Ackerman
Managing Editor
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