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Vermillion Reports Second Quarter 2012 Results
Date:8/14/2012

AUSTIN, Texas, Aug. 14, 2012 /PRNewswire/ -- Vermillion, Inc. (NASDAQ: VRML), a leading molecular diagnostics company, reported financial and operational results for the second quarter ended June 30, 2012.

Q2 2012 Operational Highlights

  • In Q2, the volume of OVA1®, the company's flagship diagnostic test designed to help differentiate benign from malignant ovarian masses, was in line with management's forecast at 4,150, increasing 5% sequentially and 6% over the same year-ago quarter.
  • Expanded payer coverage for OVA1 by 5.5 million lives with the addition of BCBS of Michigan and BCBS of Louisiana. This brought the total of BCBS nationwide covering OVA1 to 27, representing more than 47 million lives. Including Medicare and other regional plans, estimated total coverage for OVA1 is now at about 95 million lives.
  • Reported positive results of Peripheral Artery Disease (PAD) multi-marker clinical feasibility study involving a prospectively collected intended-use population of 1,025 subjects. The results reinforced the validity of the company's PAD biomarkers by identifying 85% (17 of 20) of patients missed by the Framingham Risk Score's high-risk cutoff. A poster authored by Dr. John Cooke of Stanford University titled, "Biomarker Screen to Identify Peripheral Artery Disease," was presented at the Society for Vascular Medicine's 23rd Annual Scientific Sessions in June.
  • Strengthened the company's patent portfolio with the issuance of a new biomarker patent for ovarian cancer. This was the fifteenth biomarker patent granted or allowed for Vermillion, four of which support the company's ovarian cancer franchise.
  • Subsequent to the end of the second quarter, Vermillion reported outstanding results from the OVA500 multi-center study led by Dr. Robert E. Bristow (U.C. Irvine Healthcare). The 494 subject study confirmed overall sensitivit
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    SOURCE Vermillion, Inc.
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