Vermillion Inc. (Nasdaq: VRML) shares climbed 23.7% to $3.03 after the diagnostics company said it had been issued a patent called “serum biomarkers in lung cancer.” Volume for the stock totaled more than 826,000 shares, compared to an all-day average of less than 153,000.
A press release out Sept. 6 announced that the United States Patent and Trademark Office (USPTO) had issued to the Company patent number 8,014,952 for the serum.
Said Vermillion CEO Gail Page, “This patent highlights on-going progress in expanding our intellectual property portfolio. Beyond our core focus areas of ovarian cancer and peripheral artery disease, we now have patents in lung cancer, breast cancer, and Alzheimer’s disease. It is our goal to explore business opportunities to leverage this growing and valuable asset of the Company.”
Based in Austin, Vermillion, Inc. is dedicated to the discovery, development and commercialization of novel high-value diagnostic tests that help physicians diagnose, treat and improve outcomes for patients.