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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.
New analyses indicate female researchers are publishing less during the coronavirus pandemic than male researchers, according to Nature News.
A study suggests people with the ApoE e4 genotype may be more likely to have severe COVID-19 than those with other genotypes, the Guardian says.
Direct-to-consumer genetic testing companies are searching for a genetic reason for why some people, but not others, become gravely ill with COVID-19, the Detroit Free Press reports.
In PNAS this week: forward genetics-base analysis of retinal development, interactions of T cell receptors with neoantigens in colorectal cancer, and more.