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Vermillion Reports Financial Results for the First Quarter 2011
Date:5/10/2011

AUSTIN, Texas, May 10, 2011 /PRNewswire/ -- Vermillion, Inc. (Nasdaq: VRML), a molecular diagnostics company, today reported financial results for the first quarter ended March 31, 2011.  Key milestones we have achieved since the last quarterly conference call include:

  • Performed an estimated 3,080 OVA1® tests during the first quarter of 2011, representing volume growth of 5% over the fourth quarter of 2010.  
  • Expanded payer coverage for OVA1 with additional independent Blue Cross Blue Shield plans issuing positive coverage policies.  In all, 17 independent Blue Cross Blue Shield plans, representing approximately 33.5 million lives, are covering OVA1.  Including Medicare and other regional plans, total coverage for OVA1 is now approximately 80 million lives.
  • OVA1 was included in the recently published American College of Obstetricians and Gynecologists (ACOG) and Society of Gynecologic Oncologists (SGO) updated committee opinion on the role of the obstetrician-gynecologist in the early detection of epithelial ovarian cancer.  
  • Signed an agreement with Quest Diagnostics to make OVA1 available in India with the official launch beginning on May 4th.  This represents an incremental revenue opportunity over time as the companies begin to educate the market.  
  • Presented two studies demonstrating the high sensitivity of OVA1 during the 42nd Annual Meeting on Women's Cancer of the Society of Gynecologic Oncologists (SGO).  
  • Presented data at the International Gynecologic Cancer Society (IGCS) regional meeting held in New Delhi that demonstrated the high sensitivity for ovarian malignancy of OVA1 in combination with ultrasound.  OVA1 had sensitivity for malignancy of 97% when used in conjunction with ultrasound.
  • Announced positive preliminary data from our collaboration with
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