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AUSTIN, Texas, June 25, 2019 (GLOBE NEWSWIRE) -- Vermillion, Inc. (Nasdaq: VRML) (“Vermillion”), a bioanalytical-based women’s health company focused on gynecologic disease, today announced that it intends to offer shares of its common stock in an underwritten public offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. Vermillion is expected to grant the underwriter a 30-day option to purchase up to an additional 15% of the shares of common stock being offered at the public offering price, less underwriting discounts and commissions. All of the shares will be offered by Vermillion.
William Blair & Company, L.L.C. is acting as sole bookrunner for the offering.
Vermillion intends to use the net proceeds from the offering for working capital, general corporate purposes and additional commercial investment, including investing in sales and marketing capabilities, additional key strategic hires and product portfolio expansion.
The offering is being made pursuant to a shelf registration statement (File No. 333-221092) previously filed with, and declared effective by, the U.S. Securities and Exchange Commission (the “SEC”). A preliminary prospectus supplement, dated June 25, 2019, and accompanying prospectus, dated November 7, 2017, relating to the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. To obtain a copy of the preliminary prospectus supplement and the final prospectus supplement (when available) for the offering, please contact William Blair & Company, L.L.C., Attention Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606, by telephone at 1-800-621-0687 or by e-mail at email@example.com.
This press release is for informational purposes only and shall not constitute an offer to sell or a solicitation of an offer to buy securities in any state or other jurisdiction in which such offer or sale is not permitted.
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, discovers, develops and delivers innovative diagnostic and technology tools that help women with serious diseases. The company’s initial in vitro diagnostic test, OVA1® (MIA), was the first FDA-cleared, protein-based In Vitro Diagnostic Multivariate Index Assay, and represented a new class of software-based liquid biopsy in vitro diagnostics. In March 2016, Vermillion received FDA clearance for Overa™, a Multivariate Index Assay 2nd Generation (MIA2G) test with significantly improved specificity and ease of use.
Forward Looking Statements
This press release contains forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. These statements involve a number of risks and uncertainties. All statements other than statements of historical facts contained in this press release are forward-looking statements, including statements regarding Vermillion’s expectations about the proposed public offering and the use of proceeds therefrom. Words such as “may,” “expects,” “intends,” “anticipates,” “believes,” “estimates,” “plans,” “seeks,” “could,” “should,” “continue,” “will,” “potential,” “projects” and similar expressions are intended to identify forward-looking statements. 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 the risks and uncertainties associated with market conditions and the completion of the proposed offering, as well as 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, 2018 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. Vermillion expressly disclaims any obligation to update, amend or clarify any forward-looking statements to reflect events, new information or circumstances occurring after the date of this press release, except as required by law.
Investor Relations Contact:
Ashley R. Robinson
LifeSci Advisors, LLC