Following this transaction, Micallef holds a direct ownership of 394,352 shares. Additionally, shares are indirectly held by Micallef's spouse and Borlaug Limited, where he has voting control. InvestingPro subscribers can access additional insights about VolitionRx's financial health and growth prospects through the comprehensive Pro Research Report, which includes detailed analysis of the company's performance metrics and future outlook. InvestingPro subscribers can access additional insights about VolitionRx's financial health and growth prospects through the comprehensive Pro Research Report, which includes detailed analysis of the company's performance metrics and future outlook. Following this transaction, Micallef holds a direct ownership of 394,352 shares. Additionally, shares are indirectly held by Micallef's spouse and Borlaug Limited, where he has voting control.
In other recent news, VolitionRx Limited announced a definitive agreement for a registered direct offering of its common stock, potentially raising up to $1.9 million. The transaction includes the sale of shares to company insiders and other investors, with the possibility of additional funds if all warrants are exercised. The offering is anticipated to close in December 2024. In other developments, VolitionRx reported significant growth in its Q3 earnings, with a 100% increase in year-to-date revenue, largely due to sales from its Nu.Q Vet cancer tests. The company is confident in achieving cash neutrality by 2025. In terms of human diagnostics, a large lung cancer detection study is currently under peer review, and a prospective validation study is set to begin in Taiwan. Looking ahead, VolitionRx anticipates roughly $6 million in revenues for the next year, with each business segment expected to support itself financially by 2025. However, the company noted that revenue can be unpredictable at this stage.
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