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

of a standardized triage protocol using OVA1 for all ovarian malignancies, which includes the most curable early-stage cases and a broad range of subtypes. So, this study lends robust support for further expanding payer coverage of the test, as well as updating current medical guidelines.

"As we begin the second half of 2012, we remain focused on our key initiatives. In addition to advancing our product discovery pipeline, these initiatives involve supporting further clinical research for OVA1, broadening its support by key opinion leaders, and expanding payer coverage. We're confident this will lead to increased clinical usage and, moreover, advance OVA1 toward becoming the standard of care in the diagnosis of ovarian cancer. We expect 4,100-4,400 OVA1 tests to be performed in the third quarter of 2012. As these numbers reflect, OVA1 is still in its early stage of adoption. However, as the results from our broad efforts begin to converge, they are setting the stage for strong growth in fiscal 2013."

CEO Succession Plan
As previously announced, the company's board has formed a succession committee of independent directors to oversee the process of identifying and selecting a new CEO. It has also retained a leading executive search firm with experience in CEO transitions to advise the board on potential candidates. According to Bruce Huebner, company director and chair of the succession committee: "We have met with a number of impressive potential candidates and expect to identify a successor with the ability and experience to take advantage of our tremendous opportunities in the ovarian cancer diagnostics market, as well as continue to develop Vermillion's pipeline of new products.

"Given the amount of interest and our goal of assuring we select the correct candidate, we have extended the timeframe to complete our search from September to October 2012. Gail will continue in her role until the new CEO is named, and then will become a strateg
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SOURCE Vermillion, Inc.
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