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NEW YORK (GenomeWeb News) – The shareholders of Vermillion have approved a 10 for one reverse stock split of the firm’s common shares.

The reverse split is scheduled to become effective at the close of business on March 3, the Fremont, Calif.-based firm said in a statement after the close of the market on Friday. Each ten shares of Vermillion common stock will be converted into one share under the plan, which will simultaneously increase the company’s stock price by a factor of 10.

Vermillion’s shares closed Friday at $.41 on the Nasdaq.

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