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Vermillion Reports OVA1 Tests Performed in 2010 Exceeds Guidance

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Vermillion today said that it had performed an estimated 6,155 of its triage ovarian cancer test for 2010, exceeding its guidance of 5,000 to 5,500 tests for the year.

In the fourth quarter, the Austin, Texas-based molecular diagnostics firm performed about 2,935 OVA1 tests, representing a 49 percent increase from the third quarter. The OVA1 test received clearance from the US Food and Drug Administration in late 2009 and was launched in March 2010.

The company also said that as of Dec. 31, 2010, it had $22.8 million in cash and cash equivalents, compared to $25.3 million at the end of the third quarter.

Vermillion will report its fourth quarter and full-year 2010 earnings results on Feb. 10.

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