SeeThruEquity Initiates Coverage on VolitionRX Ltd. (NYSE MKT: VNRX) with Price Target of $6.70

NEW YORK, NY / ACCESSWIRE / March 9, 2015 / SeeThruEquity, a leading independent equity research and corporate access firm focused on small-cap and micro-cap public companies, today announced it has initiated coverage of VolitionRX Ltd. (NYSE MKT:VNRX) with a Price Target of $6.70.

VNRX is a life sciences company focused on developing blood-based tests for cancer and other diseases. The tests are based on the company’s proprietary Nucleosomics(R) technology platform, which identifies and measures nucleosomes in the bloodstream. The company’s lead product diagnostic candidate, NuQ(R) for colorectal cancer (CRC) is currently undergoing clinical trials in Europe with CE mark approval expected in late 2015 or early 2016. VNRX is also planning to develop tests for other types of cancer and plans to start a clinical trial for the detection of the 20 most prevalent cancers in collaboration with Bonn University, Germany, in early 2015 and another one for the detection of prostate cancers in collaboration with MD Anderson Cancer Center, in 2015.

“We are excited about VNRX’s growth potential over the next 2-3 years as it launches its NuQ(R) test for CRC in Europe in early 2016, followed by the U.S. in 2017 or 2018. Additionally, expansion of its diagnostic tests beyond the current CRC to include prostate and other cancers provides significant long term potential for VNRX,” stated Ajay Tandon, CEO of SeeThruEquity. “We are initiating coverage with a 12-month price target of $6.70 per share.”

The report is available here: VNRX Initiation Report. SeeThruEquity is an approved equity research contributor on Thomson First Call, Capital IQ, FactSet, and Zack’s. The report will also be available on these platforms. We also contribute our estimates to Thomson Estimates, the leading estimates platform on Wall Street.

Additional highlights from the report are as follows:

Proprietary Nucleosomics(R) platform for cancer diagnostics

At the core of VNRX’s diagnostics product development is Nucleosomics(R), a platform technology that measures and identifies signatures of nucleosomes circulating in the blood. Serum Nucleosomics(R) serve as novel biomarkers for the detection of cancer and various other diseases. To date, VNRX has developed 20 epigenetic NuQ(R) assays using its Nucleosomics(R) technology which are designed to detect the level and structure of nucleosomes in blood. Moreover, NuQ(R) assays can be adopted onto one or more of the four existing ELISA diagnostic platforms. We believe that compatibility with ELISA provides significant advantage to the Company as ELISA instruments are used in all major hospitals throughout the U.S. and Europe.

NuQ(R) blood-based CRC test shows impressive results

Based on VNRX’s proprietary Nucleosomics(R) platform, the company’s lead NuQ(R) blood-based test for colorectal cancer (CRC) is undergoing key clinical trials in Europe. Initial top line results of ~1,000 (total 4,800) subjects from the retrospective clinical trial with Hvidovre Hospital in Copenhagen, Denmark, showed the NuQ(R) test detected an impressive 84% of subjects with CRC as well as 60% of detection of adenomas (polyps). The data further showed that detection of CRC was not stage dependent, implying that the test could detect early (I or II) and late-stage (III or IV) disease with similar accuracy. We note that such high accuracy coupled with detection across stages from a blood-based test is compelling. Current mainstream tests such as colonoscopy or fecal exams are not only costly but also have compliance issues. VNRX plans to announce key milestones for the NuQ(R) test (full results of 4.8k-subject Danish study and a 14k subject prospective study in Denmark) over the next 12 months and expects CE Mark approval for the test in late 2015.

Blood-based tests are the future of Cancer diagnostics

Blood-based tests are the future of cancer diagnostics as they are non-invasive, less expensive, have high compliance rates, and provide accurate results using novel blood biomarkers. However, there are only a handful of blood tests for cancers – the only blood test commonly used is PSA prostate cancer blood test which has high compliance (around 80%) with 72% sensitivity and the recently launched CRC test (EpiGenomics Epi proColon(R)) in Europe with 68% accuracy. We believe companies that are focused on blood-based tests such as VNRX are at a distinct competitive advantage and are well positioned to capture this large unmet medical need.

Initiate coverage with a price target of $6.70

Our analysis indicates a fair value estimate of $6.70 per share, implying an upside of 64.1% from the recent price of $4.15. We view VNRX as a high-risk/high-reward investment opportunity in the healthcare biopharmaceutical space.

About VolitionRX Ltd.

VNRX is a life sciences company focused on developing blood-based tests for cancer and other diseases. The tests are based on the company’s proprietary Nucleosomics(R) technology platform, which identifies and measure nucleosomes in the bloodstream. The company’s lead product diagnostic candidate, NuQ(R) for colorectal cancer (CRC), is currently undergoing clinical trials in Europe with CE mark approval expected in late 2015. VNRX is also planning to develop tests for other types of cancer and plans to start a clinical trial for the detection of 20 most prevalent cancers in collaboration with Bonn University, Germany, in early 2015 and another one for the detection of prostate cancers in collaboration with MD Anderson Cancer Center, in 2015.

For more information, please visit http://www.volitionrx.com/.

About SeeThruEquity

SeeThruEquity is an equity research and corporate access firm focused on companies with less than $1 billion in market capitalization. The research is not paid for and is unbiased. We do not conduct any investment banking or commission based business. We are approved to contribute our research to Thomson One Analytics (First Call), Capital IQ, FactSet, Zacks, and distribute our research to our database of opt-in investors. We also contribute our estimates to Thomson Estimates, the leading estimates platform on Wall Street.

For more information visit www.seethruequity.com.

Contact:

Ajay Tandon
SeeThruEquity
info@seethruequity.com

SOURCE: SeeThruEquity

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