Beyond his direct holdings, Innes also has indirect ownership stakes through various trusts and family members. The Innes Family Bare Trust 2023, for which Innes is the trustee, holds 1,400,000 shares, while The Dill Faulkes Educational Trust Limited, where Innes serves as a director and trustee, owns 356,000 shares. Additionally, his son and daughter each hold 154,503 and 154,504 shares, respectively, under his indirect ownership. For deeper insights into VolitionRx's financial health and detailed insider trading analysis, access the comprehensive Pro Research Report available on InvestingPro. For deeper insights into VolitionRx's financial health and detailed insider trading analysis, access the comprehensive Pro Research Report available on InvestingPro.
Beyond his direct holdings, Innes also has indirect ownership stakes through various trusts and family members. The Innes Family Bare Trust 2023, for which Innes is the trustee, holds 1,400,000 shares, while The Dill Faulkes Educational Trust Limited, where Innes serves as a director and trustee, owns 356,000 shares. Additionally, his son and daughter each hold 154,503 and 154,504 shares, respectively, under his indirect ownership.
In other recent news, VolitionRx Limited has seen substantial growth in its earnings and revenue. The company reported a 100% increase in year-to-date revenue with sales from its Nu.Q Vet cancer tests playing a significant role. These sales surpassed 110,000 in the first three quarters of 2024, almost doubling the total sales of the previous year. The company anticipates approximately $6 million in revenues for the next year and is confident in achieving cash neutrality by 2025.
In addition to its financial growth, VolitionRx has made significant strides in human diagnostics. A large lung cancer detection study is currently under peer review, and a prospective validation study is set to begin in Taiwan. Partnerships with companies like Fujifilm and Heska (NASDAQ:HSKA) have aided in launching the Nu.Q Vet test in various markets.
Finally, VolitionRx has entered into definitive agreements for a registered direct offering of its common stock, potentially raising up to $1.9 million. The company plans to allocate the net proceeds for research, product development, clinical studies, product commercialization, and other general corporate purposes.
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