Vermillion, Inc. (NASDAQ:VRML) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02.Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Fred Ferrara, the Chief Operating Officer and principal operating officer of Vermillion, Inc. (the “Company”), will terminate employment with the Company effective June 1, 2018. to the employment agreement, dated April 1, 2015 (the “Employment Agreement”), between the Company and Mr. Ferrara, Mr. Ferrara will be entitled to certain severance pay and benefits in connection with such termination so long as Mr. Ferrara executes and does not revoke a standard separation agreement release of all claims against the Company, in a form reasonably satisfactory to the Company, does not breach any provision of the Employment Agreement and complies with the Proprietary Information and Inventions Agreement entered into between Mr. Ferrara and the Company.
About Vermillion, Inc. (NASDAQ:VRML)
Vermillion, Inc. is a diagnostic service and bio-analytic solutions provider. The Company is engaged in the business of developing and commercializing diagnostic tests for gynecologic disease. It sells OVA1 risk of malignancy test for pelvic mass disease (OVA1). OVA1 is a blood test designed to, in addition to a physician’s clinical assessment of a woman with a pelvic mass, identify women who are at risk of having a malignant ovarian tumor prior to planned surgery. It developed OVA1 through pre-clinical studies in collaboration with various academic medical centers encompassing over 2,500 clinical samples. OVA1 is validated in a multi-center clinical trial encompassing approximately 30 sites reflective of the diverse nature of the clinical centers, at which ovarian adnexal masses are evaluated. Its ASPiRA LABS is a laboratory that provides diagnostic services using a biomarker-based diagnostic algorithm to inform clinical decision making and personalized treatment plans.
