A player lacks the scientific knowledge to comprehend this text, and as such its exact contents remain a mystery. Haemalchemy, when broken down by definition, is the study of transmuting or modifying blood. If a player attempts to read the book on Haemalchemy, they will get the message, "This book seems far too complex to you at the moment.", possibly hinting that you will be able to understand it in the future. The examine option seems to confirm this, as it says: "Volume 1", and not just the name of the book.