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Vermillion Reports Third Quarter 2012 Results
Date:11/12/2012

AUSTIN, Texas, Nov. 12, 2012 /PRNewswire/ -- Vermillion, Inc. (NASDAQ: VRML), a leading molecular diagnostics company, reported financial and operational results for the third quarter ended September 30, 2012.

Q3 2012 Operational Highlights

  • In Q3, 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 approximately 4,100 tests.
  • Submitted a manuscript on the OVA500 pivotal study by principal investigator, Dr. Robert Bristow of UC Irvine. This second prospective study of OVA1 confirmed the test's high sensitivity, at 96% and negative predictive value, at 98%, substantiating clinical results reported in the previous pivotal study by Dr. Fred Ueland of U. Kentucky. This is important since doctors, payers and professional societies make their decisions, in part, on the publication of multiple independent clinical studies. The study also reported that OVA1 correctly detected 91% of early stage cancers. Combined with the result from the first study, OVA1 correctly identified 78 out of 84 early-stage ovarian malignancies among more than 1,000 patients evaluated, for a combined risk stratification sensitivity of approximately 93%.
  • Initiated a joint program with Quest Diagnostics focused in six states to improve OVA1 physician reorder rates by reestablishing OVA1 as 'top-of-mind,' as well as launched a Claims Assistance Program to assist physicians with the appeals process.
  • Published a peer-reviewed manuscript titled "A Validated Biomarker Panel To Identify Peripheral Artery Disease" in Vascular Medicine, a premier international journal featuring primary research articles and reviews on vascular disease, diagnosis, and treatment. The 1,025 patient study validated earlier biomarke
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