vermillion inc (VRML) Key Developments
Vermillion, Inc. Announces Executive Appointments
Jan 12 15
Vermillion, Inc. announced that it has appointed Laura Miller to the newly created position of Senior Vice President of Sales/Customer Experience. Ms. Miller will report directly to Valerie Palmieri, President & Chief Executive Officer. Holly Bauzon, previously Vice President of Sales and Managed Markets, will now be solely dedicated to leading managed markets. This more focused position will better enable the company to build its managed care foundation. Laura has spent 17 years in the diagnostics industries, serving in numerous sales, operations and executive capacities for laboratory service and capital equipment organizations. Prior to serving as an independent healthcare consultant for the last four years, she served as President, Laboratory Services, for HealthTronics Laboratory, from 2008-2010. In addition, she served in several senior leadership roles at PLUS Diagnostics, DIANON Systems, U.S. Labs and Ventana Medical Systems.
Vermillion, Inc. Announces Executive Changes
Dec 16 14
Vermillion, Inc. announced the next step in its expanded strategy to rebuild the company into a premier bio-analytics solutions provider with the naming of current Chief Operating Officer, Valerie Palmieri to President and Chief Executive Officer, while current Chairman of the Board and CEO James LaFrance will continue to serve as Chairman. These changes are effective January 1, 2015. As Chairman of the Board, he will continue to actively work with her and the management team to achieve the vision have crafted together.
Vermillion, Inc. Announces Board Appointments
Dec 12 14
Vermillion, Inc. announced the appointments of Veronica G. H. Jordan, Ph.D., and David R. Schreiber to the company's board of directors, bringing the total number of directors to eight, seven of whom are independent. Veronica Jordan, Ph.D. is an accomplished entrepreneur and international business leader. David Schreiber has more than 30 years of corporate and consulting experience in the healthcare industry, particularly in the area of corporate finance, operations, and mergers and acquisitions.
Vermillion, Inc. Reports Unaudited Consolidated Financial Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Cash Flow Guidance for the Fourth Quarter of 2014; Provides Revenue Guidance for the Year 2015
Nov 13 14
Vermillion, Inc. reported unaudited consolidated financial results for the third quarter and nine months ended September 30, 2014. Total revenue in the third quarter of 2014 was $323,000, as compared to $330,000 in the same year-ago period. Net loss for the third quarter was $5,591,000 or $0.16 per share, as compared to a net loss of $2,314,000 or $0.10 per share in the year-ago quarter. Loss from operations was $5,589,000 against $2,317,000 a year ago. The company used $5.4 million in cash for operations in the third quarter of 2014.
For the nine months ended September 30, 2014, net loss was $15,133,000 or $0.42 per diluted share as compared to a net loss of $7,002,000 or $0.36 per diluted share in the same year-ago period. Total revenue was $952,000 compared to $981,000 a year-ago. Loss from operations was $15,142,000 against $7,038,000 a year ago.
The company expects to utilize $4.5 million to $5.0 million in cash in the fourth quarter of 2014 which will include certain non-recurring costs.
The company plans to have substantial revenue growth in 2015 but expect to reach an inflection point the following year.
Vermillion, Inc. to Report Q3, 2014 Results on Nov 13, 2014
Oct 30 14
Vermillion, Inc. announced that they will report Q3, 2014 results at 4:30 PM, US Eastern Standard Time on Nov 13, 2014