Vermillion shares jumped Thursday after the bioanalytical-services company released encouraging top-line results from a study of its ovarian cancer triage test
The data showed “significant improvement” in specificity in the second-generation test OVA2 compared with OVA1, while maintaining strong sensitivity, the company said. Vermillion hopes to launch OVA2 by Q3 this year, dependent on successful and timely clearance from the U.S. Food and Drug Administration.
Vermillion said across all subjects, 33% fewer benign positives were seen with OVA2 compared with OVA1.
“These first validation results give us high hopes that OVA2 will soon be added to the ‘best practice’ arsenal of physicians in our ongoing battle against ovarian cancer,” CEO Valerie Palmieri said. VRML was up 9.8% at $2.01 recently, in a 52-week range between $1.20 and $3.18.