March 7, 2012
Vermillion, Inc. (NASDAQ:VRML) surged by 125.56% and hit the list of major Tuesday gainers.
After trading well below the level of $2.00 for the recent three months VRML started heading up and gained additional $1.67 per share. The entire trading session ended for VRML at $3.00 before the closing bell. At the current price the market capitalization of the company amounts to $44.87 million, thus the company is referred to a group of small cap companies.
The shares of the company faced the unusual upward movement after VRML made an announcement that the American Medical Association (AMA) Current Procedural Terminology (CPT®) Panel had voted for approval of the company’s application for a Category 1 CPT code for OVA1® test.
According to the president of VRML, Mr. Gail S.Page this is the biggest company achievement as regards its new product. Furthermore, the positive decision was backed up by positive reviews and publishing coverage.
Following the unusual price surge the company’s trading volume increased immensely and reached 10.67 million shares unlike its average 30-day trading volume of 79,544.00 shares. The company owns 14.86 million outstanding shares that are distributed among stock market portfolios of multiple investors.
The peculiar feature of the company is its beta of 65.70 which means that the stock is much more volatile than the market and VRML involves a particularly high level of risk for investment.
Vermillion, Inc. is engaged in the Biotechnology and Drugs industry of the Healthcare sector. This biopharmaceutical company is focused on research, development and commercializing diagnostic tests aimed at helping physicians to conduct the diagnose procedures and improving the overall outcomes for patients.