This story has been update to include comments from a Vermillion executive.

Vermillion this week reported fourth-quarter revenues of $1.1 million, a 32 percent rise from $868,000 in Q4 2011. This beat the consensus Wall Street estimate for revenues of $900,000.

The quarterly revenue increase was driven by a 32 percent increase in sales of its OVA1 ovarian cancer diagnostic to $1 million from $755,000 in Q4 2011. License revenues were flat year over year at $113,000.

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