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Vermillion, Inc. Announces Closing of $18.8 Million Public Offering of Common Stock

AUSTIN, Texas, July 17, 2015 /PRNewswire/ — Vermillion, Inc. (NASDAQ: VRML), a bio-analytical solutions company focused on gynecologic disease, today announced the closing of an underwritten public offering of 9,602,500 shares of its common stock, including 1,252,500 shares sold pursuant to the full exercise of the underwriters’ option to purchase additional shares at a price to the public of $1.96 per share.

Canaccord Genuity acted as sole book-running manager and Roth Capital Partners acted as lead manager for the offering.

The net proceeds from the sale of the shares of common stock, after deducting the underwriting discount and the other offering expenses, are expected to be approximately $17.5 million.  Vermillion intends to use the net proceeds from the offering to fund domestic and international commercialization, bioinformatics platform enhancements, portfolio expansion and general corporate purposes.

The offering was made pursuant to a shelf registration statement (File No. 333-198734) previously filed with and declared effective by the U.S. Securities and Exchange Commission (SEC). This offering was made only by means of a prospectus supplement and accompanying base prospectus. A final prospectus supplement and the accompanying prospectus describing the terms of the offering were filed with the SEC on June 14, 2015 and are available on the SEC’s website at www.sec.gov. Copies of the prospectus supplement and the accompanying prospectus may also be obtained by contacting the Syndicate Department of Canaccord Genuity Inc., Attention: Syndicate Department, 99 High Street, 12th Floor, Boston, Massachusetts 02110, or by telephone/email at (800) 225-6201/[email protected].

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Vermillion, Inc. – Vermillion, Inc. is dedicated to the discovery, development and commercialization of novel high-value diagnostic and bio-analytical solutions that help physicians diagnose, treat and improve gynecologic health outcomes for women. Vermillion, along with its prestigious scientific collaborators, have diagnostic programs in gynecologic disease. Vermillion’s lead diagnostic, OVA1®, is a blood test for pre-surgical assessment of ovarian tumors for malignancy, using an innovative algorithmic approach. As the first FDA-cleared, protein-based In Vitro Diagnostic Multivariate Index Assay, OVA1 represents a new class of software-based diagnostics.

Vermillion and VRML are trademarks of Vermillion, Inc.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended.  All statements other than statements of historical facts contained in this press release are forward-looking statements, including statements regarding Vermillion’s anticipated use of proceeds from the public offering.  In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions.  These forward-looking statements speak only as of the date of this press release and are subject to a number of risks, uncertainties and assumptions, including risks and uncertainties inherent in Vermillion’s business, including those described in the section entitled “Risk Factors” in Vermillion’s Annual Report on Form 10-K for the year ended December 31, 2014 and in Vermillion’s other periodic filings with the SEC.  The events and circumstances reflected in Vermillion’s forward-looking statements may not be achieved or occur and actual results could differ materially from those projected in the forward-looking statements.  Except as required by applicable law, Vermillion does not plan to publicly update or revise any forward-looking statements contained in this press release, whether as a result of any new information, future events, changed circumstances or otherwise.

Investor Relations Contact:
Michael Wood
LifeSci Advisors LLC
Tel 1-646-597-6983
[email protected]


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SOURCE Vermillion, Inc.