FREMONT, Calif., March 3 /PRNewswire-FirstCall/ -- Vermillion, Inc. (Nasdaq: VRML) (the "Company"), a high-value molecular diagnostics company, announced today that on February 29, 2008, the Company filed its Third Amended and Restated Certificate of Incorporation, which effects a 1-for-10 reverse stock split of the Company's outstanding common stock. The reverse stock split will be effective with respect to stockholders of record upon the close of business today, March 3, 2008.
The common stock will trade on the NASDAQ Capital Market under the symbol "VRMLD" for 20 trading days beginning March 4, 2008 to designate that it is trading on a post-reverse split basis, and will resume trading under the symbol "VRML" after the 20-day period has expired.
"With this reverse stock split now effective, we believe that a broader group of potential investors can purchase our shares and will recognize the value of our diagnostic programs addressing complex diseases," said Gail S. Page, President and CEO of Vermillion.
As a result of the reverse stock split, each ten shares of common stock will be combined and reclassified into one share of common stock and the total number of shares outstanding will be reduced from approximately 63.8 million shares to approximately 6.4 million shares.
The Company's transfer agent, Wells Fargo Shareowner Services, will send instructions to stockholders of record regarding the exchange of certificates for common stock.
Vermillion, Inc. is dedicated to the discovery, development and
commercialization of novel high-value diagnostic tests that help physicians
diagnose, treat and improve outcomes for patients. Vermillion, along with
its prestigious scientific collab
|SOURCE Vermillion, Inc.|
Copyright©2008 PR Newswire.
All rights reserved