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Vermillion Reports Fourth Quarter and Full Year 2011 Results
Date:3/27/2012

AUSTIN, Texas, March 27, 2012 /PRNewswire/ -- Vermillion, Inc. (NASDAQ: VRML), a leading molecular diagnostics company, reported financial and operational results for the fourth quarter and full year ended December 31, 2011.

Q4 and Full Year 2011 Operational Highlights

  • In 2011, the test volume of OVA1®, the company's flagship diagnostic designed to help differentiate benign from malignant ovarian masses, increased 147% to 15,225. In Q4, test volume increased 40% over the same year-ago quarter to 4,118.
  • In 2011, expanded payer coverage for OVA1 with 10 additional independent Blue Cross Blue Shield plans, which brought the total to 22 by the end of the year. Collectively, OVA1 had coverage with approximately 82 million insured lives as of December 31, 2011.
  • During 2011, the company successfully used a variety of channels to educate physicians on the utility and benefits of OVA1. The company's base of key opinion leaders that support OVA1 increased to more than 275, with a group of over 30 industry experts who presented at more than 90 medical education events during 2011.
  • In December, completed the purchase of substantially all of the assets associated with the ovarian cancer diagnostics business of Correlogic Systems, including more than 1,800 prospectively collected diagnostic samples from ovarian tumor studies, three biomarker-related pending U.S. patents, proprietary software and other intellectual property. The company is currently using these assets to advance its ovarian cancer franchise, including the development of OVA2™, its next-generation ovarian cancer test.
  • In 2011, strengthened the company's patent portfolio with nine notices of allowance for patents (one added in Q4), including breast cancer biomarkers, ovarian cancer, lung cancer, Alzheimer's disease, and five biomarker patents related to PAD
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