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Vermillion Performs an Estimated 6,155 OVA1 Tests in 2010

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Vermillion this week announced it had performed an estimated 2,935 OVA1 ovarian cancer tests during the fourth quarter ended Dec. 31, 2010 and an estimated 6,155 tests in all of 2010.

The fourth-quarter sales number represented a 48.8 percent increase over the third quarter of 2010, the company said in a statement, and the full-year 2010 figure of 6,155 exceeded the company's adjusted 2010 guidance of 5,000 to 5,500 tests, although it fell short of its initial 8,000 to 10,000 test guidance.

Vermillion emerged from Chapter 11 bankruptcy in January and began selling OVA1 two months later. In August, it reported $45,000 in Q2 sales of the test – its first-ever revenues from the diagnostic – and $114,000 more in OVA1 revenues in Q3 (PM 11/12/2010).

The company also said that its cash and cash equivalent holdings as of Dec. 31, 2010, were approximately $22.8 million compared to $25.3 million at the end of the third quarter.

Vermillion is scheduled to report its complete Q4 and full-year financial results on Feb. 10.

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