According to the latest Q319 update, VolitionRx has made progress with proof-of-concept studies with its upgraded Nu.Q assays and expects to start publishing the data in the coming weeks. After that, it plans to continue working on its lead indications, including colorectal and lung cancers. VolitionRx also reported progress with its newer programmes. Its agreement with the Texas A&M University has been executed to develop cancer tests for animal health. The innovative Nu.Q Capture programme made a breakthrough this summer and could eventually speed up biomarker discovery or potentially bring in licensing revenues from liquid biopsy players. Our valuation is $223m or $5.42/share.