Navigation Links
Vermillion Announces Stockholder Approval of Reverse Stock Split
Date:2/15/2008

- Board of Directors Approve a 1 for 10 Reverse Split

FREMONT, Calif., Feb. 15 /PRNewswire-FirstCall/ -- Vermillion, Inc. (Nasdaq: VRML), a high-value molecular diagnostics company, announced today that its stockholders authorized Vermillion's Board of Directors to implement a reverse split of the company's common stock. The Board of Directors has approved a 1 for 10 reverse stock split of the company's common stock. The reverse split is expected to become effective at the close of business on Monday, March 3, 2008.

"We believe this stockholder approval and reverse stock split will help attract a greater level of interest among investors and analysts. It comes at an excellent time given the advances being made in the clinical and commercial development of our peripheral arterial disease (PAD) and ovarian cancer diagnostics programs," said Gail S. Page, President and CEO of Vermillion.

In the reverse split, each ten (10) shares of Vermillion's issued and outstanding common stock will be combined into one (1) share of common stock. No fractional shares will be issued in association with the reverse stock split and holders of fractional shares will receive cash in place of their fractional shares.

Based on the volume and price of shares of the Company's common stock as of February 14, 2008, as a result of the reverse split, Vermillion will have approximately 6.4 million shares outstanding of its common stock. Additionally the reverse split will affect all shares of Vermillion's common stock, including underlying stock options outstanding and warrants immediately prior to the effective date of the reverse split.

Vermillion's transfer agent, Wells Fargo Shareowner Services will send instructions to stockholders of record regarding the exchange of certificates for common stock.

About Vermillion

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 collaborators, has ongoing diagnostic programs in oncology, hematology, cardiology and women's health with an initial focus in ovarian cancer. Vermillion is based in Fremont, California. Additional information about Vermillion can be found on the Web at http://www.vermillion.com.

Forward Looking Statements

This news release contains forward-looking statements that involve significant risks and uncertainties, including statements regarding Vermillion's plans, objectives, expectations and intentions and the risks and uncertainties discussed in Vermillion's latest Form 10-K and Vermillion's periodic reports on Form 10-Q and Form 8-K. These forward-looking statements are based on Vermillion's current expectations. Vermillion is providing this information as of the date of this news release and does not undertake any obligation to update any forward-looking statements as a result of new information, future events or otherwise. Forward-looking statements cannot be guaranteed and actual results may differ materially from Vermillion's current expectations. You are encouraged to read Vermillion's reports filed with the U.S. Securities and Exchange Commission, available at http://www.sec.gov.


'/>"/>
SOURCE Vermillion, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Vermillion, Inc. Announces Receipt of Notice of Noncompliance From Nasdaq
2. Vermillion to Host Teleconference and Webcast to Discuss Third Quarter 2007 Financial Results on November 12 at 4:30 pm Eastern Time
3. HHS Announces $75 Million in Supplemental Funding to States for Pandemic Flu Preparedness
4. CRC Health Group Announces Acquisition of Bayside Marin Recovery Center, San Rafael
5. UHW Announces: Antelope Valley Hospital Caregivers and Board Vote to Ratify First Union Contract With SEIU UHW-West
6. HEI, Inc. Announces Sale of RFID Division Assets
7. Caraco Pharmaceutical Laboratories, Ltd. Announces FDA Approval to Market Generic Version of Zyloprim(R)
8. Mettler-Toledo International Inc. Announces Webcast of Presentation at Thomas Weisel Partners 2007 Healthcare Conference
9. Z Trim Announces Revocation of Gregory Halpern Severence Agreement
10. Brooke Franchise Corporation Announces Selected July Results
11. Manor Care, Inc. Announces Record Date for Special Stockholder Meeting
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2016)... ... June 27, 2016 , ... ... patient payment industry today announced its strategic partnership with Connance, a healthcare ... , The two companies’ proven, proprietary technology combine to provide health systems, ...
(Date:6/27/2016)... ... , ... TopConsumerReviews.com recently awarded their highest five-star rating to Best Buy Eyeglasses, ... the United States and Canada wear eyeglasses. Once considered to be a purely functional ... a fashion statement. Even celebrities use glasses as a way of creating an iconic ...
(Date:6/26/2016)... ... ... On June 10-11, 2016, A Forever Recovery, a holistic treatment center for ... Table in Battle Creek, MI, where the rehabilitation facility is located. This annual celebration ... world’s leading providers of cereal and other breakfast foods. Its residents often refer to ...
(Date:6/26/2016)... ... ... PawPaws brand pet supplements owned by Whole Health Supply is ... of felines. The formula is all-natural and is made from Chinese herbs that have ... Kidney Support Supplement Soft Chews are Astragalus Root Extract and Rehmannia Root Extract ...
(Date:6/26/2016)... Clarkston, Michigan (PRWEB) , ... June 26, 2016 ... ... respect to fertility once they have been diagnosed with endometriosis. These women need ... but they also require a comprehensive approach that can help for preservation of ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... , June 24, 2016 ... of the "Structural Electronics 2015-2025: Applications, Technologies, ... In-Mold Electronics, Smart Skin, ... Photovoltaics Structural electronics involves electronic ... load-bearing, protective structures, replacing dumb structures such as ...
(Date:6/24/2016)... Calif. , June 24, 2016  American Respiratory Labs (ARL), ... is now able to perform sophisticated lung assessments in patients, homes, ... , Inc. Patients are no longer limited to ... EasyOne PRO ® , ARL patients like Jeanne R. of ... in the comfort of her own home. ...
(Date:6/24/2016)... LEXINGTON, Mass. , June 24, 2016   ... specialty pharmaceutical company developing innovative inhaled drugs, announced today ... when Russell Investments reconstituted its comprehensive set ... 2016. "This is an important milestone for ... "It will increase shareholder awareness of our progress in ...
Breaking Medicine Technology: