Vermillion (VRML +39%) soars today after reporting earlier that Oracle Investment Management and...

|By:, SA News Editor

Vermillion (VRML +39%) soars today after reporting earlier that Oracle Investment Management and other investors will make an initial investment of $13.2M by purchasing 8M shares of the company's stock.  VRML will also issue 12.5M warrants with a strike price of $1.46 for $18.3M in proceeds, bringing the total gross investment to $31.5M. Proceeds will be used to increase test sales and improve reimbursement for OVA1, as well as to expand into new markets and advance next-generation ovarian cancer diagnostic tests.