VNRX VOLITIONRX LTD
Price Chart
Executive Summary
VolitionRx filed a preliminary prospectus supplement for a best-efforts unit offering of common stock, pre-funded warrants, and common stock purchase warrants, with Maxim Group LLC as placement agent. The offering size, price, and proceeds are all undisclosed (placeholder amounts). The company has a going-concern opinion from its auditors, a negative net tangible book value of -$33.7 million, and intends to use proceeds for working capital and to repay Lind Notes. This is a dilutive capital raise for a pre-revenue diagnostics company with a $17M market cap.
Actionable Insight
This is a dilutive capital raise for a company with a going-concern warning and negative book value. The best-efforts structure with no minimum means proceeds are uncertain. Monitor the final offering size and pricing — if the deal closes small, the cash runway extension is limited; if large, dilution is severe. The 45-day lock-up on insiders provides a temporary floor, but the overhang from existing convertible notes and warrants (~7M+ shares) remains. Avoid long exposure until the offering terms are known and the stock stabilizes.
Key Facts
- Best-efforts offering of common stock, pre-funded warrants, and warrants; no minimum offering amount required.
- Offering size, price, and net proceeds are all undisclosed (placeholder amounts in filing).
- Company has a going-concern opinion from its auditors, indicating substantial doubt about ability to continue.
- Net tangible book value as of March 31, 2026 was approximately -$33.7 million, or -$4.247 per share.
- Proceeds to be used for research, product development, working capital, and repayment of Lind Notes ($7.5M + $2.4M secured convertible notes).
- Stock closed at $2.00 on June 4, 2026; market cap ~$17M.
- Existing investors may participate but have no binding commitments.
- Placement agent fee is 7.0% of gross proceeds (3.5% for certain existing investors).
- Executive officers and directors subject to 45-day lock-up; company subject to 45-day issuance blackout and 6-month price-reset restriction.
Financial Impact
Undisclosed offering size; proceeds placeholder. Company has -$33.7M net tangible book value and $9.9M in Lind Notes outstanding.
Risk Factors
- Going-concern opinion from auditors — risk of business failure if capital raise insufficient.
- Undisclosed offering size — actual proceeds may be far below needs, forcing additional dilutive raises.
- Massive existing dilution overhang: ~7M+ shares from convertible notes and warrants at conversion/exercise prices well above current $2.00 stock price.
- Best-efforts structure with no minimum — investors may not get sufficient capital to fund operations.
- No public market for warrants/pre-funded warrants — limited liquidity for those securities.
Market Snapshot
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 424B5 Filing (Primary) | 0001477932-26-003669 |
| Document: 0001477932-26-003669-index-headers.html | 0001477932-26-003669 |
| Document: 0001477932-26-003669-index.html | 0001477932-26-003669 |
| Document: 0001477932-26-003669.txt | 0001477932-26-003669 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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Jun 9, 2026
today
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424B5
| $1.38 awaiting T+5 | awaiting T+5 | — | $1.39 (−0.72%) |
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Jun 5, 2026
4d ago
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424B5
| $1.79 awaiting T+5 | awaiting T+5 | — | $1.39 (+22.35%) |
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May 22, 2026
18d ago
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8-K
| $2.94 $2.32 | ▲ +21.09% | ▲ +22.30% | $1.39 (+52.72%) |
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May 14, 2026
26d ago
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8-K
| $2.00 $3.13 | ▲ +56.50% | ▲ +55.54% | $1.39 (−30.50%) |
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Apr 30, 2026
5w ago
|
10-K/A
| $2.43 $2.25 | ▼ −7.41% | ▼ −9.75% | $1.39 (−42.80%) |
|
Apr 28, 2026
6w ago
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8-K
| $2.64 $2.49 | ▼ −5.68% | ▼ −8.79% | $1.39 (−47.35%) |
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Apr 23, 2026
6w ago
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8-K
| $2.80 $2.64 | ▲ +5.71% | ▲ +7.19% | $1.39 (+50.36%) |
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Apr 17, 2026
7w ago
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8-K
| $3.20 $2.72 | ▼ −14.88% | ▼ −15.79% | $1.39 (−56.56%) |
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Mar 31, 2026
10w ago
|
8-K
| $4.00 $3.45 | ▼ −13.80% | ▼ −17.57% | $1.39 (−65.25%) |
US Market Status
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