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Vermillion Rises as Complete Genomics, PacBio See Stocks Falter in March

NEW YORK (GenomeWeb News) – Vermillion's shares rose 51 percent for the month of March, leading all stocks in the GenomeWeb Daily News Index for the month.

The Austin, Texas-based molecular diagnostics firm received a late-month boost when it reported last week that its fourth-quarter revenues increased 152 percent year over year. Earlier in the month, it had announced that an American Medical Association panel approved its application for a Category 1 CPT code for its OVA1 test.

Among the other top performers for the month were Rosetta Genomics (+27 percent), which today reported a sharp drop in Fiscal Year 2011 revenues, and Exact Sciences (+19 percent).

Complete Genomics led decliners in the Index for the month, falling 24 percent. Early in the month, the firm reported a fourth-quarter revenue decline of 34 percent, but an order backlog of 5,800 genomes, representing total revenues of approximately $28 million.

The decline of Complete Genomics' share price followed a strong February, which saw its shares gain 26 percent.

Among the other firms to see a double-digit decline in their stock price were Pacific Biosciences, down 18 percent, and Accelr8, which fell 15 percent for the month.

Overall, the GWDN Index was up 2 percent for the month of March, matching the increase for the Dow Jones Industrial Average. The Nasdaq and Nasdaq Biotech Index both gained 4 percent for the month.

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