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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