Cancer blood test maker VolitionRX soars 25% in a day on reported commercial progress

Shares of VolitionRx, a micro-cap developer of blood tests for cancer and sepsis, jumped nearly 26% on Tuesday after the company reported progress in several research programs and said a newly developed cancer-detection method has attracted interest from potential partners. The company also highlighted breakthrough research on detecting lymphoma in cats. Wall Street analysts say the stock could have nearly 790% upside.

VolitionRx shares rose almost 26% to $0.24 per share on Tuesday on the New York Stock Exchange. The stock added about 4% more in premarket trading on Wednesday as of this writing. Investors were reacting to a company update describing new scientific developments, advances in clinical research, and plans to commercialize several diagnostic tests.

The company said it has developed a new method and biomarkers for detecting cancer. According to VolitionRx, the approach could be used to create accurate and low-cost diagnostic tests.

VolitionRx also said it expects to begin selling two other tests – for cancer and sepsis – this year. In the fourth quarter of 2025, the company received its first order for Nu.Q Cancer assays from France. In January, it began preparing an application to include the tests in routine clinical practice, which would allow them to be reimbursed by insurers.

The company is also expanding its veterinary diagnostics business. According to VolitionRx, a new clinical study showed that its assay detected more than 80% of feline lymphoma cases without producing false positives. The company described the results as a breakthrough.

VolitionRx said it is currently in discussions with about 10 diagnostics companies about licensing its technology and expects to announce additional agreements in 2026.

Such licensing deals could generate upfront and milestone payments for the company. While VolitionRx did not disclose potential deal values, it estimates the market for low-cost cancer tests alone at roughly $23 billion.

Much of the information had previously been disclosed by the company, although the market reaction at the time was more muted.

Founded in 2010, VolitionRx says its aim is to make the diagnosis of cancer and sepsis faster and less invasive with simple blood tests. The company is developing technology that detects fragments released into the bloodstream when cells die in various diseases. This technology, known as Nu.Q, forms the basis of all of VolitionRx’s diagnostic tests for humans and animals.

VolitionRx has not yet reported its full financial results for 2025. At the end of the third quarter, the company said revenue rose 32% year over year to $0.6 million.

In February, the company disclosed that it had fallen short of the New York Stock Exchange’s equity capital requirements. The exchange ordered VolitionRx to submit a plan by March 8 outlining how it intends to regain compliance or face potential delisting of its shares.

Despite the jump, VolitionRx shares are still down 6.5% since the start of the year. Still, Wall Street analysts remain broadly positive about the company’s prospects. The stock carries four “buy” ratings versus one “hold.” The average target price is $2.13 per share, almost 8.9 times the closing price on Wednesday.