Vermillion Announces Stockholder Approval of Reverse S...( - Board of Directors Appro...),Health

- 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 sto
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