The platform matches a patient's medical history and other data with national guidelines to recommended medically actionable genetic tests.
The company posted an 11 percent year-over-year decline in OVA1 sales but more than doubled its average revenue per test, to $301 from $143 in Q4 2015.
The firms extended their OVA1 commercialization agreement an additional year while adding procedures for verifying the number of tests performed under the deal.
The company obtained out-of-state provider status from California's Medicaid program for its OVA1 test, giving it access to more than 12 million patients.
The agreement provides coverage for more than 6 million people in Michigan and the larger Great Lakes region for the company's proteomic ovarian cancer test.
The company said investors have agreed to purchase $5.6 million of common stock as well as warrants that, if exercised, could raise an additional $5.1 million.
The company posted revenues of $623,000, up from $330,000 in the year-ago quarter, benefitting from higher revenue per OVA1 test despite lower sales volume.
CareFirst covers more than 3 million patients in Maryland, Washington DC, and Virginia, and is one several payors to recently issue a coverage decision for Vermillion.
The service business, which the company is calling Aspira IVD, generated $155,000 in revenue from two projects undertaken in the second quarter of 2016.
The revenues include the first sales from Vermillion's new IVD services business, Aspira IVD, which conducted two studies during the quarter.
Forensic genetic firm Verogen has bought the genetic genealogy site GEDmatch.
Researchers have 3D-printed plastic bunnies that encase the information needed to make more such bunnies in DNA, according to Discover magazine.
Dan Rather, the former CBS Evening News anchor and executive producer of a new documentary, writes at the Guardian that everyone needs to know about CRISPR.
In PNAS this week: analysis of FOXA1 upregulation in ER-positive breast cancer, gene editing to correct recessive dystrophic epidermolysis bullosa, and more.