Navigation Links
Vermillion Completes $17.6 Million Warrant Exercise
Date:12/19/2013

AUSTIN, Texas, Dec. 19, 2013 /PRNewswire/ -- Vermillion, Inc. (NASDAQ: VRML), a multivariate diagnostics company focused on gynecologic cancers and women's health, announced that Oracle Investment Management, Jack W. Schuler, Matthew W. Strobeck and certain other investors have exercised warrants to purchase 12.1 million shares of Vermillion common stock at an exercise price of $1.46 per share.

The warrants were issued in conjunction with an equity financing transaction that closed on May 13, 2013. With the exercise of the warrants, Vermillion received $17.6 million in proceeds, bringing the total investment by investors in the May 2013 equity financing transaction to approximately $30.9 million, before transaction costs. Emerging Growth Equities, Ltd. advised Vermillion on the equity financing transaction.

Proceeds from the warrant exercise will be used to increase test sales and improve reimbursement for OVA1, expand commercial opportunities in the U.S. and new markets and advance one or more next-generation ovarian cancer diagnostic tests.

About Vermillion
Vermillion, Inc. (NASDAQ: VRML) 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 diagnostic programs in gynecologic oncology and women's health.

The company's lead diagnostic, OVA1®, is a blood test for pre-surgical assessment of ovarian tumors for malignancy, using an innovative algorithmic approach. As the first FDA-cleared, protein-based In Vitro Diagnostic Multivariate Index Assay, OVA1 represents a new class of software-based diagnostics. For additional information, including published clinical trials, visit www.vermillion.com.

Forward-Looking Statement
This press release contains forward-looking statements, as that term is defined in the Private Litigation Reform Act of 1995 that involve significant risks and uncertainties including statements regarding Vermillion's expected cash outlay and Vermillion's ability to regain traction in reimbursement. Words such as "may," "expects," "intends," "anticipates," "believes," "estimates," "plans," "seeks," "could," "should," "continue," "will," "potential," "projects" and similar expressions are intended to identify forward-looking statements. The forward-looking statements contained in this press release are based on Vermillion's expectations as of the date of this press release. A variety of factors could cause actual results and experience to differ materially from the anticipated results or other expectations expressed in such forward-looking statements. Factors that could cause actual results to materially differ from those projected in such forward-looking statements include but are not limited to: (1) uncertainty as to Vermillion's ability to protect and promote its proprietary technology; (2) Vermillion's lack of a lengthy track record successfully developing and commercializing diagnostic products; (3) uncertainty as to whether Vermillion will be able to obtain any required regulatory approval of its future diagnostic products; (4) uncertainty of the size of market for its existing diagnostic tests or future diagnostic products, including the risk that its products will not be competitive with products offered by other companies, or that users will not be entitled to receive adequate reimbursement for its products from third-party payers such as private insurance companies and government insurance plans; (5) uncertainty that Vermillion has sufficient cash resources to fully commercialize its tests and continue as a going concern; (6) uncertainty whether the trading in Vermillion's stock will become significantly less liquid; and (7) other factors that are described in Vermillion's Form 10-K for the year ended December 31, 2012 and the Form 10-Q for the quarter ended March 31, 2013, filed with the Securities and Exchange Commission (the "SEC"). Vermillion expressly disclaims any obligation to update, amend or clarify any forward-looking statements to reflect events, new information or circumstances occurring after the date of this press release, except as required by law. This release should be read in conjunction with the consolidated financial statements and notes thereto included in Vermillion's most recent reports on Form 10-K and Form 10-Q filed with the SEC. Copies are available through the SEC's Electronic Data Gathering Analysis and Retrieval system (EDGAR) at www.sec.gov.

Investor Relations Contact:
Liolios Group, Inc.
Ron Both
Tel 1-949-574-3860
vrml@liolios.com


'/>"/>
SOURCE Vermillion, Inc.
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Vermillion Appoints Marian E. Sacco as SVP of Sales and Marketing and Chief Commercial Officer
2. Vermillion Reports Third Quarter 2013 Results
3. American Journal of Obstetrics & Gynecology Publishes New Clinical Study Showing Positive Performance of Vermillions OVA1 Test in Presurgical Detection of Early-Stage Ovarian Cancer
4. American Journal of Obstetrics & Gynecology Publishes New Clinical Study Showing Positive Performance of Vermillions Ovarian Cancer Test, OVA1
5. Vermillion Sets Third Quarter 2013 Conference Call for Thursday, November 14, 2013
6. Vermillion Appoints Dr. Eric Varma to its Board of Directors
7. Vermillion Supports First World Ovarian Cancer Day and Effort to Raise Awareness of the Need for Better Diagnosis and Treatment
8. Vermillion Sets First Quarter 2013 Conference Call for Wednesday, May 15, 2013
9. Vermillion Appoints Thomas McLain as President and Chief Executive Officer
10. Vermillion Reports Fourth Quarter and Full Year 2012 Results
11. Vermillion to Discuss Preliminary Results for Fourth Quarter and Full Year 2012 on Wednesday, February 20, 2013, at 4:30 p.m. ET
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2016)...   Pulmatrix, Inc ., (NASDAQ: PULM ... announced today that it was added to the Russell ... comprehensive set of U.S. and global equity indexes on ... milestone for Pulmatrix," said Chief Executive Officer Robert ... progress in developing drugs for crucial unmet medical needs, ...
(Date:6/23/2016)... Research and Markets has announced the addition of ... report to their offering. ... kidney failure, it replaces the function of kidneys by removing ... thus the treatment helps to keep the patient body,s electrolytes ... Increasing number of ESRD patients & substantial healthcare expenditure ...
(Date:6/23/2016)... , June 23, 2016 Roche (SIX: ... 510(k) clearance for its Elecsys BRAHMS PCT (procalcitonin) assay ... sepsis or septic shock. With this clearance, Roche is ... a fully integrated solution for sepsis risk assessment and ... with bacterial infection and PCT levels in blood can ...
Breaking Medicine Technology:
(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:6/25/2016)... , ... June 25, 2016 , ... ... policy issues and applications at AcademyHealth’s Annual Research Meeting June 26-28, 2016, at ... on several important health care topics including advance care planning, healthcare costs and ...
(Date:6/25/2016)... (PRWEB) , ... June 25, 2016 , ... "With 30 ... their specific project," said Christina Austin - CEO of Pixel Film Studios. , ... and all within Final Cut Pro X . Simply select a ProHand generator ...
(Date:6/25/2016)... ... June 25, 2016 , ... Dr. ... from injury. Recently, he has implemented orthobiologic procedures as a method for treating ... one of the first doctors to perform the treatment. Orthobiologics are substances that ...
(Date:6/24/2016)... (PRWEB) , ... June 24, 2016 , ... A recent ... that most people are unfamiliar with. The article goes on to state that individuals ... also many of these less common operations such as calf and cheek reduction. The ...
Breaking Medicine News(10 mins):