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:2/27/2017)... N.J. , Feb. 27, 2017  Interpace Diagnostics ... that provides clinically useful molecular diagnostic tests and pathology ... be presented at the upcoming United States ... being held March 4-10, 2017 in San ... reflect a review of data from the Company,s extensive ...
(Date:2/27/2017)... , Feb. 27, 2017  International Biophysics Corporation, a ... , today announced a 34% revenue growth in 2016 ... increase in unit sales.  This growth was fueled by its ... in addition to the expansion of its global sales of ... International Biophysics, CEO, "As we enter our 25 th ...
(Date:2/27/2017)... Calif. , Feb. 27, 2017   Vitasome ... line of nutritional supplements using its groundbreaking new liposome ... 90 percent of potency through digestion per Physician,s ... supplements solve the problem of nutritional waste and are ... degradation during digestive processes Improve bioavailability ...
Breaking Medicine Technology:
(Date:2/27/2017)... Houston, TX (PRWEB) , ... February 27, 2017 ... ... the 75,000 customer threshold mark last week. In addition, Discount Power's RCE (Residential ... Volterra Energy LLC in March 2014. The company had 800 customers and 2,250 ...
(Date:2/26/2017)... ... February 25, 2017 , ... The February 13, 2017, assassination of Kim Jong-nam, ... nerve agents and the deadly use of chemical weapons. Many questions exist about the ... small doses can be lethal. , Jay Jagannathan, M.D., of Michigan-based Jagannathan Neurosurgical Institute, ...
(Date:2/26/2017)... ... 2017 , ... IndustryArchive.Org . is announcing a new way for B2B ... now only pay for B.A.N.T. quality sales leads based on the Sellers decision to ... new reality that B2B buyers are controlling the sales process via the Internet and ...
(Date:2/25/2017)... ... ... FCPX users now have the ability to sharpen a desired color range ... have total control over sharpening amount, sharpening radius, threshold, horizontal sharpening, vertical sharpening, and ... can visually see the color range effected with ease all within Final Cut ...
(Date:2/24/2017)... ... February 24, 2017 , ... An in-depth computational analysis ... University of Pittsburgh points to eight genes that may explain why susceptibility to one ... the results of a study published today in the journal npj Schizophrenia. , ...
Breaking Medicine News(10 mins):