Volitionrx Ltd (AMEX:VNRX) shares rallied 18.5% on Thursday after the company unveiled encouraging performance data for its feline cancer screening test.
The epigenetics-focused group said its Nu.Q® Vet Feline assay showed a high level of accuracy in identifying lymphoma in cats, the most prevalent form of cancer in the species. When tested at 100% specificity—meaning no false positives—the assay successfully detected more than 80% of feline lymphoma cases.
Volition believes this positions Nu.Q® Vet Feline as the world’s first straightforward and cost-effective blood-based liquid biopsy test for detecting cancer in cats, potentially filling a major gap in veterinary diagnostics. Current methods often rely on invasive tissue biopsies or costly imaging, typically only after clinical symptoms have become apparent.
The company highlighted the scale of the commercial opportunity, pointing to an estimated 73.8 million pet cats in the United States. Around one in five cats is expected to develop cancer during its lifetime, while more than a quarter of U.S. cats are classified as seniors, supporting the case for routine, repeat screening.
“Our mission is to make cancer screening a routine part of every pet’s annual wellness check and following the successful international rollout of our canine cancer test, we have now demonstrated that our technology is also effective for cats,” said Frédéric Wuilque, VP-Global Products at Volition.
Chief Commercial Officer Gael Forterre added that publication of the study in a peer-reviewed journal is anticipated to trigger a $5 million contractual milestone payment for the company.
Separately, Volition disclosed that it has amended a securities purchase agreement with Lind Global Asset Management XII LLC, securing $2 million in gross proceeds via a convertible note and accompanying warrants.