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$
40,907$
24,035Liabilities and Stockholders’ EquityCurrent liabilities:Accounts payable
$
,132$
998Accrued liabilities
3,2343,056Convertible senior notes
5,0005,000Deferred revenue
9331,049Total current liabilities
10,29910,103Long-term debt owed to related party
7,0007,000Warrant liability
71378Deferred revenue
1,5651,679Other liabilities
208259Total liabilities
19,14319,419Commitments and contingenciesStockholders’ equity:Preferred stock, $0.001 par value, 5,000,000 shares authorized, none issued and outstanding at March 31, 2011 and December 31, 2010, respectively
--Common stock, $0.001 par value, 150,000,000 shares authorized at March 31, 2011 and December 31, 2010; 14,698,509 and 10,657,564 shares issued and outstanding at March 31, 2011 and December 31, 2010, respectively
1511Additional paid-in capital
324,706303,270Accumulated deficit
(302,800)(298,509)Accumulated other comprehensive loss
(157)(156)Total stockholders’ equity
21,7644,616Total liabilities and stockholders’ equity
$
40,907$
24,035Vermillion, Inc.Consolidated Statement of Operations(Amounts in Thousands, Except Share and Per Share Amounts)
(Unaudited)Three Months Ended March 31, 20112010Revenue:Product
$
317$
-License
11473Total revenue
43173Cost of revenue:Product
42-Total cost of revenue
42-Gross profit
38973Operating expenses:Research and development(1)
1,218748Sales and marketing(2)
1,318193General and administrative(3)
2,3002,136Total operating expenses
4,8363,077Loss from operations
(4,447)(3,004)Interest income
166Interest expense
(115)(143)Change in fair value and gain from exercise of warrants, net
307(6)Debt conversion costs
-(141)Reorganization items
(16)
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