This story originally ran on May 16.

Vermillion this week reported first-quarter 2012 revenues of $312,000, down 28 percent from $431,000 a year ago.

It also announced that president and CEO Gail Page will be leaving the company by September and that its board has begun searching for her replacement.

The Q1 decline was due to a drop in revenues from the company's OVA1 ovarian cancer diagnostic, which came in at $198,000, down from $317,000 a year ago. Licensing revenues were flat year over year at $114,000.

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