VNRX - Earnings call transcript Q1 2020

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Operator

Good morning, ladies and gentlemen, and thank you for standing by. Welcome to the VolitionRx Limited First Quarter 2020 Earnings Conference Call.

During today's presentation, all parties will be in listen-only mode.

Following the presentation, the conference call will be opened for question. [Operator Instructions] This conference is being recorded today, May 8, 2020.

turn and call Communications to Batchelor, to like Marketing Chief Officer. now the over conference Louise I'd Please go ahead.

Louise Batchelor

cover operating Thank you, of activities VolitionRx will and for earnings XXXX, conference financial and welcome discussion milestones. everyone Limited. to along with key This of first upcoming for the results today's a call Volition's quarter and recent call

Following session. to a our prepared question-and-answer remarks, we will open the conference call

and and Dr. call today Micallef, Chief is Chief President Executive our Reynolds, Vanston, Officer; on Officer. Also Financial Scientific Cameron Officer; Jake Chief David Mr. Mr.

on beliefs, used Before Harbor everyone we statements begin, we that Private XXXX. our risks, statements to as some I'd are uncertainties Safe conference current reflect available currently Reform like these of provisions to of remind assumptions. based based the information call Litigation information Because this the concerning of as Securities forward-looking have include will these the us. statements covered involve under and views Act discussed our on assumptions well events, upon future statements These

or may the vary cause number by factors performance a of significantly future be achievements on statements. different based may results, or expressed results events these from results that materially or actual future to implied Actual

Exchange forward-looking our update factors this We with to risk of and various during XX-K, identified have do We annual obligation our most operations not made any any report report Form Commission. associated with the XX-Q, Securities filings call. the in on recent undertake quarterly Form on statements course and other

Cameron? Chief over our and Reynolds. Officer, turn Executive Mr. call the now Cameron to to like I'd President

Cameron Reynolds

and ongoing let busy especially thus far. joining today. pandemic, earnings speaking for Volition start call for has call addressing me operations everyone, the by first I you, which how appreciate COVID-XX affected it, Thank conference to given the the pandemic season, Volition's

During well-being implemented working our where protect quarter and possible. remotely XXXX, of health most of contingency with the we to the planning employees, employees first

of laboratory medium dedicated our expectations. the and of with first research our work for and kept at XXXX open stored tracking still technicians have has on small collected so our planned underway with biobank, Belgium the Many our in the and sized and already remained lab development been expectations. is trial who Our studies track half samples attendance work have their of our onsite

Regarding studies, collection. our with the and both underway Taiwan cancer cancer are large-scale studies ongoing colorectal in still lung

study with the unknown the EDRN been the However EDRN of overall The impact provide we'll this pause is update however, the collection study in U.S. the once the re-commences. during stage, paused timing has study an on collection pandemic. the at

the X Capital Unsurprisingly, soon and we decision, later travel hope as person many We restrictions, we planned have in taken will to new then. given to for originally Day date June likely most in our year, see possible. of the to a this you current as September, announce Markets postpone

the For on significant COVID observe not quarter pandemic. did impact the ended due operations our we to March XX, business

risks potential provision the However, delay have contractors. key predict going continue the our services cannot company it the the and may time consumables we of in relate supply extent slowing by the at the this pandemic to and our in from future. pandemic to the external chain, and worsens, of on forward antibody the effects The

situation. work the and hard My them to times. continued to truly I'm working We to our of the to whilst health proud are has protect families throughout for team. whole mitigate of quickly difficult thing these risks, continuing hard to any adjusting the their how thanks

who hospitalization the will that in developing proprietary is to symptoms. been and hospitals to aims mid-April, COVID higher develop work COVID to platform levels at upfront are disease. care Nu.Q versus our which On into monitoring, full meet of has continue likelihood we actively of patients is provide test positive COVID predict that patients including quarter COVID insight using speed milestones. this we that Preliminary announced Belgium triage test the after an individual to aim subject critical studies a in are the end Our develop with of infection not may who ongoing in and early require serious will The complications Germany. and severe goal to resources, those to

respiratory our focus toolbox doctors the remains pandemic have including patients pneumonia. cancer in in viral existing and potential the our While core to or disease epigenetic may help wise, future COVID outbreaks Nu.Q

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However, I it to news. important initial this thought share

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labs we Nu.Q that could reliable and For are the and trials, they knowing example, assays a robust, reproducible COVID send for hospitals. our to third-party

of range potential amazing the our epigenetics shows again of toolbox. uses yet This

these can our in hard of studies team sure a short-period time. facilitate I'm worked has to imagine, such exceptionally As you

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Immunoassay for This Medical Fosun to our use progress System our have The to In the strategy System. begin an assays. we is Fosun an exclusive today Long open-access strong addition, announce in contract Long to the signed license March to recently develop Volition's for China allows negotiate Science, magnetic Long on process very Fosun's particle-based that March also Automated assays also Fosun LUMIART Nu.Q agreement March China. a further delighted commercialization LUMIART-II, with I'm Shanghai to platform Chemiluminescence agreement on parties tests for Nu.Q the distribute our of international of for

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we quarter with approximately cash terms, equivalents. financial $XX million In in and out closed the

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report to this aim several both Nu.Q's a range animals. to ability milestones and beyond cancers We including detect and throughout of year in key human

data the addition in the test triage COVID-XX clinical data In to program of relating Capture and development. to NU.Q

working with reputation are cancer to early of other and our We collaborators diagnosis and in the delighted from outstanding be aim share diseases. of our have world, whom improving around all

with optimized platform. the the I studies the coming indeed along forward the to board year, look over whole company, of key rest our months sharing and of results and with

to our exciting yet. XXXX expect year We be most

your Thanks I to earnings Operator? are for much joining busy given call and the appreciate the questions season pandemic, take call the very we it, today. happy now.

Operator

you. Thank

question-and-answer session. question. be Breidenbach Our from with of question We Oppenheimer. first proceed Please Instructions] a Mark comes conducting now with line your the will [Operator

Unidentified Analyst

taking here on congratulations our extend [ph] Matt Mark. recent for got for progress. questions. And the We've me my Cameron, Thanks guys. on let Hey,

Cameron Reynolds

Thank you.

Unidentified Analyst

from data believe proof-of-concept you attribute of I'm interesting infections, to what the Nu.Qs in level active wondering just which you blood whether COVID may in other high and could And be specificity. nucleosomes increasing On discriminate COVID, also the presumably?

Cameron Reynolds

This good were results -- versus question. of that doing lot work exceptionally COVID high normal That the the of result, cause it's with And the raised. this. through includes was some of very from We're through surprised very to was we yes, we're conditions, a an we're pleasantly controls. work surprised a which now and the that came prognostic next could on other and weeks. of just Yes, the on week that. diagnostic nucleosomes process. Actually lot a run this lot being doing Obviously, and be

virus, collaborators to body's the Belgium very the in nets with neutrophil and this the extracellular NETs, the in the in the Germany it's seen. traps. measuring that's excited are Our response case We're and results

we're but those So moment. see be to conservative at all we'll be -- questions answered, will just the trying

also a in of But a have a with the reaction answer excited also the these something very what it mechanism. through start very all reading also of the in is the medium always it very we're good carefully NETs. doing those and with, ammonia out would We'll a a diagnostic what's can NETs I with we will notice have. areas think at issue, we people Just similar the prognostic in term, result -- value. and it and short and useful is but work be was questions, this to raised level it's we to COVID look lot to of has -- but kills very If be in flu, is the body which and also useful COVID, very important

well pandemic hopefully information long it we'll other soon. work for it the and So future could in that we can works a through And in for have open this mechanisms. the time as if that

we once So that very we will very know shouldn't and exciting, but be a long. full update give

Unidentified Analyst

sense. Yes. makes That great. Okay,

guess assays, you sounds to now clinical grade it eight. have So like turning I the

wondering Now panels have whether or finalized validated. use give lung an on if based eventually the of the it's EDRN study? you to plan probably lung other. Taiwanese when update that to then you have trial has or and different I'm these will could us just the whether Thanks. And you combinations think then you colorectal assays just for indication

Cameron Reynolds

Yes.

right. have this been That's we And this in by doing So now. ever exactly eight had the because stage far most we've we've now. that's

So doing three per four quarter. more we're or

So it's not just eight.

and in by to then would and diseases expect cancers. are you're and expect different have, be better end And XX them a right, We diseases in some different in some to range cancers, year. the we of of of them worse or different of again good so XX, the

process. the that's So

also in course, where that's think that important work also spec found are tissue in mass differential we're Of Capture know using program. to the the Nu.Q have to going biomarkers ones new we're from. because for for And ones we that the be been them the it's shown looking the I

different confirm cancers, all So markets, new the diseases that, developed been different and in discovering there to through our through the which structures them mass is we're we're different that the a lot them before for of work. spec also and through shown have assays have evidence we and run that Nu.Q of we'll trials of adding not and and Capture

So, very exciting.

the we So the determine lung the now large add to panels, medium smaller are and we'll we or will running populations. and populations into that colorectal

to well, very be work. very seen a have for have well which now more year a and we're good three that extremely get I that indication good So as assays. looking as little a are panel or and as think would expect lung of and we or some they panel of six five this to colorectal or indication of more the more we're don't we've -- we But working need hoping will four we work

of more in there populations, the utility So platform all showed other we've which we're data it. because a the XX, lot yet, XX have zeroing to assays they in things. once not good on we We're can but run X, we through will adapted

hopeful. currently is assay, correlate it the but not very we're which assays with doesn't a is work. don't forget good something that So just And

detects extremely want the differently, there no But we're otherwise You happy with process is is development something how additive. that going.

all fantastic assays job. lot done in other not in And same -- which it's Capture, London the do well the assays pandemic also because the and to which number few important team work a allowed the and space, now up Belgium progress colorectal the months. Vet lot, and the just Eight a not work and very has but Particularly that's of and platform. COVID given it's the a work, the in done all has robust last now the extremely it's gone of the us we've reproducible, is only but

to more been so get up panel we'll have the data it's four coming yes, very aim speak soon. you a yes, the good, quarter, and we'll lot to -- So, assays, eight in of months and each we'd

Unidentified Analyst

in just [indiscernible]? one trial more to in. half data those you first of it think still the Or that pandemic Do timelines you'll from shift then able might some can lung I the do point think this And squeeze given maybe the you by at be Taiwanese if year? have

Cameron Reynolds

target, but if platform I'm it only a not few the developed main assays we think. The is getting a think short reasonably it's we be with it's unaware in that's ships the it exactly data term, are up it's will but we could reasonable slips, data. -- a on short term. have the sure. I was We're it It's to -- for but lot, we should I that to if future, it's and the in target, have the delayed months, It's delay never medium everything, on target. it coming have -- that and sticking now sure now,

Unidentified Analyst

my taking questions. for Thanks Great.

Cameron Reynolds

you, Thank Thank you. Matt.

Operator

Thank you.

comes Maxim. your question question. with Please next Our from Jason McCarthy proceed with

Unidentified Analyst

[ph] on then it Thanks have to released, for is COVID I seems confirm it on be based the need you the guys. the because detect setting, to Hey, test, this for high you the do order you another to This determine question taking do to nucleosomes on how and question. applied follow-up triaging Jason. in like triage you -- Sir, say COVID in into I'd for Michael really guys data elevated in being that patients? can But what accuracy. with fact transition

Cameron Reynolds

absolutely correct. Yes, so

showed we COVID was what versus normal. So

first the So that's step.

deaths, to step prognosis, If samples and a that, other we're how conditions well, very getting very diagnosis proceeded and the badly have relates have get now. more don't unfortunately into lot and those what that could ICU, those competing proceeded We're have in is some anything that The next things. you and triage. doing that differential with

now. to in all aim see. process the What that's is So

also out is you to fever, are but because assays our the what which know of chromatin line several of lot -- it's you with too body the there's NETs the like So It's to physically, we if if which a COVID last can throw of fold, antibodies, is the body's a detect will. defense, anything defense reaction good NETs much out cells white based. the but The cause throws can mechanism, virus it the problems. trap

COVID some high in getting positives. the very we're of So, signals

early going We to response, the the to see is if that's have we it, to detect what they're it which detect we're response. what will See the trouble now the from someone can do what looking could is that from body's NETs body's we through how and and analysis is itself, we which getting not told the immune be coronavirus from into virus but do.

And in of because actually NETs which much other causes organs, and you is if mortalities think can body's body this it. situation, a and it lungs from of it the there response the immune it clogs like is the it has way, up that And be the much, you with virus, too could response but some If you good it's NETs. much kills the fever, too too have the kill virus. fever, the to if and

that attack patients. take we the detect we that we COVID show So in and now can

we've just now tell to it's what be look to plus going tough have time really going not to do to is that got early it is now could we because that's what So -- points or know is very in be. someone very trouble, through minus, how to see but

extremely that. useful through can clinical So all an we collaborators, show we be would if our product, of it think

to But been pandemic, a done the do. have and being sample lot times first work more a collected. got given being of has from this, it's of we've good work now The lot but

short-term reproducible, And value to of robustness It's we become did as if said, have it platform, So it's it robust very is. happen got in see the we've we assays. very quickly. something our a the will prognostic something because product, the quite could of what which

quick Things are you being in very time know. improved as

are and move the think also we we on So far, out important the trials side with we epigenetics we'll we're it's But really it's during But, capture, also fight and notice our well the more We'll say that COVID vet in to -- we've which been results and be but we're yes, are help information is should incredibly to forward. focus the soon. very I the exciting. see the if an I happy all will we'll going have goes so cancer prognostic having side mean very we company, pandemic. this trying can primary see and how

Unidentified Analyst

and Capture steps. have next then the just Then And expected lot actually immunoassay to It XXXX. know, this are I you data. you going sequencing seeking know mass like opportunities once spec and you're be you. what that, seems two; to a of for year, that assuming over switch licensing there's Thank comes data that the the some for, program. that

look to little -- where to bit you're position So could what those like this might color of give is this you on a us and be looking applied? technology where

Cameron Reynolds

a that's good question, Yes, Michael.

a much So We call, on, very but quick lot it well. because a just as well Capture didn't going else this say discuss program, we very, refresher. on had progressing that's

be a But updates pull now soon, we the capture is does will you on We structure out updates, have from more it that lot can preferentially the will antibody or whatever nucleosomes which soon. what before for. what the have we tell

nucleosomes, be in is one cancer. short use common shown for short basepairs the long from big pulling much which been have So more XXX to nucleosomes out that

of the enrich cancer, DNA be assays. some the and that with nucleosomes, enrich helpful to in very looking our could the -- the with nucleosomes you're So obviously from the

in If always that because sequencing such helpful better problem do, with than you have the you background problem they more are can be a a is business out some lot mutations because we the the get in the could of think nucleosomes extremely common we noise, more there lot clear -- DNA. a And than background a result.

and and in either mentioned can our terms that the concentrating massive doing before, as work simple was once what as think opportunity concentrate DNA I do can screening, We're sequencing we we in validity doing very the If also licensing and you a nucleosomes we have increases we're work. say. which helpful you that also clean anyone extremely mass out exactly that And the in assays before step you spectrometry DNA of you nucleosome, for be is can show the it in So and it space. can apart smash -- a the look this that's there. on

what's level histone as nucleosome. absolute the mass and So down methylation the to remarkable. proof an on quite look the of the each it's on histone is modifications work can to spec the now levels And actually modifications

the So moment used discovery what for we're that's as for have tool shown. markets also is at looking that new not being been approving for there, looking

So very powerful. And specificity a or just five in no four the the future potentially road, in targets looking three, there at four, to would it not -- work. multiplex if different five spec way mass because years down be the you're is issues, great actually

so the step we're So how see it if assays. look; a that in works out our clear does to well work as now doing

have sequencing those soon. the of that on sequencing concentration from mutations if the known will on quicker concentration also we work with of We for for data cancers aim the doing nucleosomes easier companies. making the We're much of increase can see and to

A therefore lot to we could as goes with do helpful. would lot coverage, and be now that can of sequencing extremely if be we're seeing cost, sure which a I'm lower about XX,XXXx,

you is antibodies background, as and the magnet. and done you the cost Capture helped So the pull with the all actually because it out actual on -- Capture and as a that magnetic can for be just it's has doing assay is the have same the on the antibodies, the done you're assays immensely work, the what then same much machine beads, work actually it's one of program on because we've

simple our So on out a it's XX property years. lot Dr. process. who work filing line been it the all to well a extremely I mean It's way -- recently is which through is as very a exciting. our is new of the and lot really Micallef lot optimization still as very of has all taken a work now intellectual

in many on ways, and be So more this will soon. it year have and can that information lot a used

Unidentified Analyst

It three going progress prep of be forward a years then is to more XXXX me. commercial looks And market there's a studies. you. of from of and like towards one lot there the that number Thank for in moving

Should at So at that going in should how year run how we we higher we forward? should look continue throughout the saw look first or rate expenses quarter the we anticipate that? the

Cameron Reynolds

we're $X.X for think the moment target, which long-term million actually month. what at tracking our we is I million, -- a are $X.X

the XX is over first is quarter D&O, quarter expenses it's out annual in look also you higher, have lot a we and that had year, the If a we because always the which and months, purchase, one-off. of last obviously come this early Octamer the

we're certainly is, And these lot. update average. But track it a think may long-term end is average. tracking looking I raising are going reasons, quarter. but more until quarter, our summer but we we'll next the if at work, moment up it lumpy don't for we to XX-month think months So the doing It be next until a update, it's we quarters definitely I between for those to

Unidentified Analyst

Cameron. safe Thank looking much, guys. right. the forward very All I'm Stay to you progress.

Cameron Reynolds

Yes, you, it's Thank exciting Michael. times.

Operator

you. Thank

Our next with Please proceed question Bruce with Company. Jackson comes Benchmark from your question.

Bruce Jackson

you thank Hi, good my and for morning questions. taking

Cameron Reynolds

Bruce. you, Thank

Bruce Jackson

Is door? the you through could run then still terms going the the to so possibly be might that how out could veterinary you test? follow-up And moment be done out proof-of-concept going commercialization the launched? to remains brought the talk strategy So developed if for a the Do order rank maybe to with we still What work a in be program. it's think as program, about pipeline lab first of also the they product data. be just if of you

Cameron Reynolds

other Bruce. get all is Thanks, of the news. lost important And part questions. we Vet in what Good a do it doesn't Yes. very and sure make

the because all were Texas it's proof-of-concept by cancers very the third yes, data was a picked they're and about So and cancers. dog Vet very very, those important encouraging, team A&M of

from extremely in So good we to those know cancers humans. And those actually results. it mirrors was see it what

good So shipped what of all, assays. we've robust and in assays a and working all with great the we validation partners. We we do independent with an really group, it's were reliable what by for in working it's been

clinic, vet we do. You know obviously don't what needed the questions in and they are

and been it's a our marriage abilities. network So two of good really

so running contact we had and simple only we've idea operational up. plates. down have The know. was they have that of yes, care on our run point is which data, an plates the bead They you platform, will magnetic point them, the that of plates be ship the now currently We a format, can a few [indiscernible] most few. to would why was -- assays and So, then on soon, which [ph] as

on now a eight we're heard, to the lot and have beads, you and as have, We more plates going magnetic soon. the on

that also be wide are side a range side, and a and have lot will bigger to we year a for and the work from we what be did through through cancers was Capture samples more validation that potential same us to those patents the other it for on would information, we market, get in for to have for the as lot this a well. just a of so but I going doing results also to give we more up, coming now. plates, how running And had stored animal on the that's humans very more see lot interestingly, rather, vet the just just be trying single remarkable quite assays and So assays lot mean

you're yes, launches, the then And correct.

developed and CLIA there in The visited lab. have first own there their we a It's lab a be which but they hospitals. aim lab are to not Texas, humans, test, like is we It's test.

cancers they comfortable, a as in launch do they're as their -- they they're CLIA that a logical can very And they kits USDA be then and test it around. a lab, obviously for sort truly which So and shipped like do soon that's worked to that to the there specialists of can product well we launch is because can can look launch a do lab. lab own place product the to the

a So learn and well. seen It's perform. And it's I in tracking eerily both humans, both to similar the we've in very starting lot how we're to assays think ways. again the what pre-analytics

blood the started the as on was it humans in of well extremely which cancer blood and worked that of the incredibly well noticed because well, cancers, two vet one one worked up the we showed well. the You side, in and looking that extremely

a was a it's going you last work a of back. the -- lot but the all we just showing It lifting it's sweat boats really the think years different lot Belgium, I cross-pollination starting platform really reproducible. do to And of team the been time vet and really I side, things. but see lot because -- rising of spent can we of is come tide the two-and-a-half particularly, in the in also there's robust absolutely getting it's not will think a to that lot from So,

we'll rest see Texas yes, we've lot aggressively, publishing to of like say. lot quite a data the and got start the So, will more because company a

space our happy in intellectual the And human. we're property platform very, and vet the the well very with as as

vet in lot be space. a there'll So the happening

Bruce Jackson

after think tests then, human be get launched And do first to to you going human reach vet we the the in assay -- market? side, is the on the which one the

Cameron Reynolds

think most triage on we're I will is in the short certainly which next think useful month, will unknown, the clinically be of it do be we the and some because if say, the we something that in the well, side, for is schedule human find pretty to one but because it medium [indiscernible] process the that's end we the would really again know but triage, pandemic, COVID, running of shortened approval the trials. I not, through If term. So likely

what's lot running So of and we're what's see is use it comes both far medium but and those, We'll the well. from also actually tell, which been the the And been data is we blood had the out has good. a which of trials those is have as we think lung panel, the also tough in work regarding on highest both which doing cancers, big I to results detection of colorectal, to clinical we're those. in

through best So we're clinical for that's what's that. the and trials the answered now question working

it's answer clinically the a first is, it's given ready nature and approval short we the So because the if to find process, can likely from something the COVID, very of short assays pandemic. be useful are the

top the side. we'd Second have of And all the triage. vet would to that, on be that,

And aggressively we've busy think saw we really done on pick I to published, haven't if everything the surprised kits start wouldn't with as that I few the else. research lot think been last months, we as But up a I work of be so in well.

a We've we at in epigenetics I incredibly of cancer, -- utility be of efficacy we've important work the showing lung to are very space other in things. different in and could heart really a truly epigenetic potentially pre-eclampsia shown and think now It's and think really dogs. good in huge diseases the push pregnancy strongly and we it there's Collaborators in COVID. I lot and now doing things. are and humans shown in

to a next XX the there'll So lot about months. be over talk

Bruce Jackson

you another were the Absolutely. the COVID-XX then that were were or assay morning Getting one? that was data back NETs that you two Nu.Q it you being proof-of-concept referring And there that the to said this data, showed was to assays evaluated. with

So...

Cameron Reynolds

also we're and Yes, we're patenting. publishing

incredibly incredibly mentioned well other were, this they I aspect, the is which see, and one, they XX in things. do I assays good So I and yes, but still two mean different worked as you

work to we've got of a do. lot So

Our at well same It accurate, for as work collaborators are the diagnostic. same The as questions, is lot great but in these purposes The its working a test as you other well combination as know. markets is a trials. prognostic it very [indiscernible] clicking issues. has PCR different of

just I COVID it lot they're related out. thrown beyond working what of the mean is So being of does spewed of questions up work that clinical NETs can ways. of very a very much that obviously different damage NETs very a to the chromatin, see because to and in are a straight it your appears is chromatin how lot There it body. question, is diagnostic part much big the to the now And

assays all So that's what our edge It's cutting now. appear.

that. publish we'll So

published and I the of in papers short-term. in determining think update working NETs process, be are how we'll in a there'll the lot all we the but can lot the assays and right on a our now future be

Bruce Jackson

much. Okay, very you great. Thank

Cameron Reynolds

you. Thank

Operator

Thank you.

proceed with Jason Please question Kolbert comes Dawson from next James. Our with your question.

Jason Kolbert

be my Hi, questions already and I want just asked. the guys. some about When the Thank up talk that on you. NETs, understanding Pretty good of have the been saying storm response COVID might pick that immune body's to be might going can going that's and into you're in cytokine result it who's potentially the a predictor you detect ventilators. is run what a of you for But candidates to to of detecting assay down. what get

would could a And like there be remdesivir. used as a prognostic determine viral so to knock down for be benefit it where

they the be? going therapeutic with wondering determine the prognostically which so that discussions use that therapy assay I'm there correct, be might whether to on timing developers, that interpretation And of intervention would if for is what could best is candidates and therapeutic

Cameron Reynolds

and answer, to has quick then a you announce public in say -- mentioned, lot research Chief the there's we a the areas confidential on on. he Scientist. completed. a add anything that We're to we give have more of Jake -- Jake, will once think much anything And but it's do but I obviously it can't very be of could them. too finalize are we talk lot process, will about as in I'll if we going to helpful you actually can our any doing it more of and now some it's make I because

Jake Micallef

be where if can in could is yet. say then that described, Only not turn prognostic, the we're the where to that the ongoing. well scenario we at that used work assays you they stage really out indeed do be And very a

Jason Kolbert

mean, that's but can there the determine and/or COVID there are determine are magnitude of Okay. good assays a true But that lot because few assays that very presence, that I differentiator, will -- right, are predict who COVID response, trouble. game, whole right. kind real there that's of people have people There no the symptoms, get of into and lot other get that will because the and a are

like to case. to if looking an incredibly it delineate Is those be me to you're differentiated So seems turns out too? that the how product being have that you two able at

Jake Micallef

That's we're at exactly it. looking how Yes.

Cameron Reynolds

yes. right, nature think But is... size Exactly, the and the I potential with of

Jake Micallef

is goal to And going what actually say is COVID get COVID that saying and storm that's we ghost measuring [ph] as we're the what of of was that Cameron to it detection the an I itself, was measuring. superb response COVID, not our and one body's for the is that the we response cause it is not cytokine's we're are complications that all. but the the measuring, that is over and although at aspect

that investigating so, the And we're clinically successfully that describe way something whether now. very we're you that. is is useful And in measuring that

Jason Kolbert

we that mean, the I -- all huge. under for Yes. implication are

any the or or task on those I contact channels have assume people you. or So BARDA, you to open with had early force COVID [indiscernible] are any discussions

Cameron Reynolds

in look you has of well size trying looking at Yes, as the for been hospitalizations if useful. of help, in mentioned Asia how the pneumonia as flu until conservative year nothing incredibly in very we it's caused And as months. are have do. also millions to And And been as and potentially and certain the we given every we've do, forward; can just be is there what we but active. what can several And been it's Jake space. this you things opportunity useful prognostic with We've Europe, as can mentioned exactly a we you before, all you very exactly said, in [indiscernible]. in we've described the authorities the in currently we're to in this going much as which well have out U.S., because as there well the as is really communication

Jason Kolbert

Right.

With with I the cytokine same think. kind associated storm of it,

Cameron Reynolds

Exactly. yes. Exactly,

Jason Kolbert

a also but Thank or on the brings help the right side, you. the side, side, That's and determine dog human source this is know, of And cancer, what dogs tumor, veterinary events on is exciting. unlike ability in really the other-related human a veterinarian the talk. kind understand not the on determines Patient sequence are? veterinary either of they GI-related may the their the don't the and to me there of

I'm type what cancer So is, the you to will is library link asking the matching it what how I'm source detection, and is beyond to those of right. advanced allow it's that -- back, far library ability really isolate diagnostic of So to? kind who question the

that I but Now, to connection. and just of sure course for in ethical I understand just that make want not canines, has diagnostics huge too, implications,

Cameron Reynolds

no So vet because on work it's to they that's I call because one very we they hook quick answer vet the and up to team understand Texas a good a is probably just and expert, think the A&M clinic with processes. that, our -- with why you this and well

they're what heavily on to hospitals on different what that it the working is process would So, tell single clinical and and are from hospitals, a vet and different cancers us very lab questions, to the clinical the of -- vet we're relied what for vet lot. each them the to be a

between assays lot we've the in There's our growing there's are makes sense. the talked hundreds to are done lot, assays others. for shown to make now but lot we There as can cancers, tissue, the assays cancer just there is is a try a measure -- with differences a to which really similarities we've are go through nucleosome, markets hundreds to the that others the that cancers hundreds. done can we're diseases a epigenetics the own the it's some through what well And As for space, But by all epigenetic -- and structures we and tissue. of between with -- lot and now between looking the being going and themselves. optimizing which on on different platform those, a cancers of seen we on is lot definitely that what our some which were looking detecting our Jake of is now. been what then coming following, about you, works which different thought differences. of differential and we're commentary. be for as those library, targets just And all in gone different human the cancers, been different through at and been domestic to the to through we've which process sure We've of as now be And get we've using in lot look

well So just we'd we've of got we and is of assays, which course, other which detect to differentiates conditions, ongoing that lot very from work is which try to which and that's a to now also cancer also the something why is to can really important, and a panel as good like discriminate. cancers as that work work differentiate so other out to have competing

Jason Kolbert

Right.

the library, comparison spec a forward you on really the a that will. correct? so is if digital mass just and going tool internal that becomes that Is helps build basis volume So, you just an that

Cameron Reynolds

you do answer that? want to Jake,

Jake Micallef

panel opposed say One can and you in to uses. in two is really have a the that different the the far looking we as and literature discovery has different cancers and this where found but which tissue. it's really we at look where as nucleosomes nucleosomes, on Domestic the see instead the in or be We characteristic even can conceivably could three other Yes. a at looking of wide are really for so or panel in blood investigate people what's on, cancer And tool. markets possibility, in or what to of is second different dozens colorectal stage, become future, that tool looking lung hundreds. at and four diagnostic very, of very a early, panel in cancer in of itself the could it

early to far a it's thing, too say in do at that all that covered and it's our can or property. such possible time, intellectual And point we in would but this that's by principle

David Vanston

of hard terms in a right. throughput, thinking just you when I'm Well, spec. throughput involve It's to mass have

a as kind the the compartmentalizing build I'm is library. doing research to I'm internal of what now, for just I'm So mass help tool spec

Cameron Reynolds

the and [Indiscernible] from the say also markets antibodies we there controls but confirms recombinant that definitely are also there.

the next that's confirmatory future, correct. foreseeable as as But well for absolutely yes, a it's So exploratory.

Jason Kolbert

next should and I hematological the to the right? what There on the be we you're and sure wanted then this, And the close, of looking end triage make but throughout I of Michael have incremental understand the to if I that I saying is timelines data is rest the study for the year, some that towards much but mentioned I -- I know Okunewitch want a just if Nu.Q. just so is of on, going colorectal handle more year, assays London, for Okay.

Cameron Reynolds

there is all assays, up that from Capture. the trials, all areas and at vet pages refer different kept just to the want have, you X, that look you we've targets if date. for the the to to the them There's that Slide and accurate; presentation if two we X on of And Yes. the the be

Jason Kolbert

much. as in of a professional and breakdown. this President, potential the our you the changer. has of I'm really kind Really, I mean game excited to the Thank platform the given be to words particularly COVID. see very matures, company really

it So Thanks. is exciting.

Cameron Reynolds

very much. Thank you

excited too. are We

Operator

Thank you.

Please Nathan your proceed from comes question next Aegis with with Capital. question. Our Weinstein

Nathan Weinstein

my question. Good morning, thanks taking guys, and for

about in turned was that quarter? if remind just that then as And So out you about perhaps acquisition you you what early has Octamer and can the the exciting integration us closed to expected? guys

Cameron Reynolds

few new, which and very but it's quarters in Actually, part year. was them there of a platform quite is robustness really from having who it's key the and know got recombinant of the Board, funny. well. and this can nucleosomes, We Science the robust people currently our very last planned few very in a have. edge make of Dr. It's of well last We Schomburg having we are a very that Advisory to obviously the control level world very cutting good part

it components predicted, we lot our having to certainly been this since key the and happened a but we about chain, we our given So, that control. it's entire want under helpful have control we've then, wasn't to thought which be very supply what's what

recombinant inherit program assays, human antibodies. So in is in the assays, all and which control purpose was and main the company's the make in the everything we the of the nucleosomes vet the things that all ability do, it in to Capture to

So and optimum them. age consuming been that we've makes excellent nucleosomes,

as do a even a is of products tenth forward part way of big part is at company. out to what there going licensing our be as to as it We're doing want with because epigenetics seems So to us, is do if widespread not no applicability. going we obviously, own licensing, small all to be medium a it to or is company we're

the license, and use antibodies nucleosomes amount where and our rights will tag intellectual good grant can always is now, because we antibodies. also of can can start they using to we've the huge to provide the but stop had licensing. keep property, We product we therefore the we have license much if but we of around, which how are making, And and coming from the how a So we the vision a also and track much someone the nucleosomes. copies consumables,

good to was the antibodies have strategy come it actually So very our would Shanghai come sorry, through that would had nucleosomes had and been which days a have in pandemic, shut obviously down. -- tough early of if

We that, did when lucky. was good very process. It's it been So a did. actually very we

been to the that's Munich as really pace. of into the so during nucleosomes been lot because nucleosomes back headquarters the in pandemic, make wanting our to making ourselves not mainly ourselves and for programs. marketing we've to all in obviously We're them very them going have these how the can of We it. been a aggressively do integration, team busy we to in Belgium; so doing understand develop looking that much bring beyond We've

in learning for And because them from it means the them bring [indiscernible] mass licensing. what and cost are and are control start also to now chain we and things the lot the you them we other you producing to tagging switch actively nucleosomes supply very you a making and means and ones the integration will ourselves people and down control marketing produce also mass to good give the can

do piece epigenetics that are big could aspect we we very what market. become a of and of the big a So this thinking key very

things So of to is all we're we the key of this do trying to make need sure a we've part thought it. and that

Nathan Weinstein

more and does Thank that assay, the from a supply we the from in you. perhaps one good about easy be vendors that And just to leads to COVID, any then, your get of just need? disruption tend me. there times lot you that supply think If just chain and to

Cameron Reynolds

simple fantastic thing actually, process heart. mean, it's made beads, in nucleosomes but work, a been controls which the and a companies. the its with are by lot unlike circulating magnetic So the and the things I it's it's It's of very cells, of on other sequencing antibodies all our dozens tumor

facility at obviously we of are components be for targets. nucleosome and aim when supply we're because dozens products producing There some in we manufacturing chain key our dozens and and issues the So, licensing to dozens ourselves. start looking

got we've our in it develop So we utility until and own nucleosome antibody. don't manufacture our some

buy different buy range So we -- have still we some still antibodies, things been of we from groups.

so do or of So typically have three not there been that of that held we part as for disruptions. But at clogged to key what been I bit. a some there suppliers try have said, been have least We've up. components, as we're two some find all those up

this bit So the things has have major in ourselves, tried but we're this is been like coming everyone a to had to And things a do there with operations tend impact has but been we've been more crisis, even doing supply because hasn't during and eventually a suppliers. it bit have a and lot if few -- light. do different on suppliers it a there slower slower crisis

we're trying areas larger be think in not we and order So to ahead ourselves. the would amounts producing

Nathan Weinstein

Cameron, thanks much. so

Cameron Reynolds

Thanks, you. Thank Nathan.

Operator

Zacks of with next proceed Please your Investment Research. me Thank question. from comes the line Instructions] excuse question you. with Our Dushyanth Dushyanth Anita [Operator --

Anita Dushyanth

Congratulations the a morning. good Hi, also I space. the COVID couple just on in on of have the questions progress. veterinary

next it's what recurrence sort understanding quarters, doing couple then there of and there talk and a later the through temporarily there How possibility to expect the that you COVID have certain a rollout pad, the season. discuss regulatory of also maybe to is this market, how you're product into the the is And Just and could some there? maybe could in times of go steps, later? better pandemic this do is would the considering of of a in kind you lumpiness subside

Cameron Reynolds

absolutely. Yes,

lot clinical a more work. doing we're steps, next the So

So seen and the well between normal discriminate as COVID we've patients. assays extremely

lot we to Now the have samples that predict partners obviously. a that. for see samples clinical what and good some of including we this going was different the collected mean, through have outcomes could how outcome same from several for who very we're early people I And questions,

along about. we next that see well, So we've useful found to step the the the lines talked discrimination is could where be

So in a collecting and all process, that's lot. they're

it's potentially good clinic And they're a the to keener we earlier, what obviously have if data, we mentioned keener we're looking because proof-of-concept use as very getting show. to now that can massive show and had Jason

extremely So, and and in that us quick helpful been samples getting have running.

So these don't run are lab. infectious an not being We ourselves. run

running for to them. -- don't the have So we we be our staff cannot protection

being the been where the detected, and in being all hospitals kits. treated are these run shipping so COVID we've So them is

of to that we run would So robustness be ourselves, a again, infectious do, don't fact can that it we run because run it very shows the samples. can It's the can have kits otherwise them. what ship difficult they and lab done we

to things we platform looking quite So the use. approved can that if something at, now meet launch getting a is that that depends Europe we what find will the again which in a next the value the product useful, clinic in we're to steps see in are look will all we CE quickly mark,

the including and to we we China. Europe are magnetic the many beads, format, we which working ones with can which Fosun has be have of We adapted platform have very on its simple one also uses and the have platforms, one in the in which

vaccine. obvious will does COVID if there -- there And good foreseeable is yes, wane once until there that mean know become utility. are the to a have we future for is a then, the the clinical And and I potential wax

mechanism influenza and see But in don't times the to diseases also, how outbreaks. we'll same is pneumonia very common very forget which are other a common lot So that goes. normal NETs of

from clinical every I strong are utility of hospitalized a There and forward. So those well. there year millions people well millions if as could be going think can utility, show we

it. help. same all think the I that what I actively seeing, will it's same give the timeline very where for assays are become we're can we obvious good we all a but working and that know, the that So, think once we clinical we on can plan is platform; once But it's we utility see and

Anita Dushyanth

that in are the the the hemangiosarcoma you to specific also other breeds canines helpful. are Thank certain and lymphoma, at and space, looking does detection veterinary the And regarding they Great, was you. the animals? in

Cameron Reynolds

Yes.

so dogs So of little so varying dog -- I have as much because specific types breed from you are different guess a more particularly cancers human of far inter-breeding, the cancers. prone to

through in but specific; of breeds very go lot I'm question, will because that's cancers are vet Often, I so the there, the one lot very breeds, particular in common cancer a a a type cancer. over yes, So cancers of of of particular half different to the particular get because inbreeding. a of one dogs. It's breed

at certain cancer specific of what have is. it breed So know it's because guess helpful a good you something cancer which is if a is you actually quite sort at have you breed, actually which very we can then very

has issues is the to very specific which obviously this in in reason knowledge that's which Volition, And double there, schools been Volition not much but currently -- we've very veterinary work vet again in used in Texas.

it see very business we at. did looked shot lot common is clinically And the very could so it that and useful. they and cancers, cancers to they very overall, encouraging that chose see is the very at in extremely why we which the So be This And the encouraging. really it in first targeted in breeds program. dogs so was that's combination early common they which it a

nucleosomes. animals very As other far as has anything go, similar this DNA with

of animals, but process. the we've preliminary a other thought Nu.Q discussions So on range had vet we

animals. we the as year dogs, get production are we the Because then other kept most look uses a well, obvious while process. ones is and through story, obviously, launched next the go But through logical Let's obviously. really the agricultural first that's at but some dogs

in to same couldn't there launch at no of a we the products think have will if there -- And other the animals other get they we same in was problems, dog it will do then have range and they wide on. item is successful But is reason space, will because the nucleosomes. the cancer they

in the to very license large something a it areas, really a but has would which but platform. lot we'd something, all be the start that's it's those because So all vet those same even work there's to values look of things, of from for potential subsidiary, out

groups be in all specialist very in very that those process that could in done and the it with will animals So are other future. be quickly the

Anita Dushyanth

And launching cancers of after in or by you're I the other looking the possibly at you're end presume this so? that year dogs

Cameron Reynolds

collected a in They've in That's correct. different of different dogs. cancers range Texas,

would the so not It's assays which be cancers, forward is more process good. obviously helpful. And these just in

a can doesn't these obviously is better take If a three, a it's you assay blood. two have of cost which lot -- lot panel then even or each or than of

can you better more you if So assays add get discrimination.

that bigger data we then the So and term. in looking trials medium short to and get the at products on of they're expect launch process you other in process also and them. those that the of some cancers, as doing do in And

Yes, the obviously, an human stay to common reasons. in won't work, important ask it's and a is proteins earlier, most Jason to because very dogs because in they of broad detection how for current and to scan how mentioned very still questions. It tough dogs as cancer it's is know don't remember move, the you tough animal situation in risen very cancer dire they obvious

So even it's than an humans. animals diagnostics more dire of in situation in

big A&M, epigenetics that So, with veterinary partnership the the space, very the in we what because potentially doing they're have from they we're and the the and assays Texas very and and happy are vet really knowledge. a they know providing the know-how with providing we're very, one side, opportunity

good very union. a it's So

Anita Dushyanth

that going you. the the types geographically Yes. Yes, different exposed population, on population studies cancer thank are human And regarding lastly, in is so to cancers. of also

plan in license of to regions. different partner sort and you do So

Cameron Reynolds

Yes, absolutely.

So, very question. good

that's to do intellectual we launching think all we one be products trials So because going experts be to in to company in epigenetics collecting. that products launch want what for and going property. think and to we areas. But far big too space we're can the and those with we I own epigenetic our have the We're assays the become is --

diseases big COVID other of even is of epigenetic a immune cancers because a are all As response. which I component, as the lot showing a different virus lot of mentioned,

I be think areas. So very, can in very important this of lot a

I keeping also and more the from of really come key components And but ourselves to layer own key So sell which control of and the sales of what's control ascertain, products. can in to is licensing our first -- we licensees. that the aim to think keep revenue and we more will volume the from

up but widely as become as licensing. bigger share do the building of bigger I aggressively we're in think also be lot of will to we and we applicable say areas expect. a products So, it our a very And roll what licensing and becomes bigger for a first

first really so the aggressively will products license. to aim And launch few then and

Anita Dushyanth

Great, thank you you. for Thank that.

Cameron Reynolds

Thank you.

Anita Dushyanth

That's data. all luck the me. And from releasing on good

Cameron Reynolds

helpful Thank a lot you, of be can Hopefully, you. areas. Thank in Anita. we

Operator

you. Thank

have this at questions no We additional time.

the management back to to over I'd floor like pass concluding So comments. any for additional

Cameron Reynolds

much I you appreciate know call on at time call. to earnings coming a for the this And really forward very very difficult the you. your time. today. Thank -- everybody. for next we pandemic I months few for interest forward on Thank And the it's look And really quarters. rest the to you and to milestones all look speaking for the the next I few difficult

Operator

teleconference. Ladies disconnect we And this and time. again, your may conclude gentlemen, for at lines this thank your today's participation. Once you does you

VolitionRx Limited (VNRX) 13 May 202020 Q1 Earnings call transcript