A Decline for Vermillion

May 17, 2012

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Molecular diagnostics company Vermillion reported this week that its first-quarter 2012 revenues fell 28 percent as compared to 2011, according to a company press release. Vermillion reported $198,000 in sales of its OVA1 ovarian cancer diagnostic for Q1, down from $317,000 for Q1 of 2011. The company notes that the prior-year Q1 OVA1 revenue includes $158,000 in deferred 'true-up' payments from Quest Diagnostics. The volume of OVA1 sales increased 28 percent, as compared to 2011, to 3,952.

Our sister publication ProteoMonitor adds that during conference call on the Q1 results, Vermillion CEO Gail Page said that the company has "implemented several initiatives that will lead to regaining our growth trajectory." ProteoMonitor adds that Page plans to leave the company by September.

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