Shares of diagnostics company Vermillion Inc. (NASDAQ: VRML) have jumped more than 20% this morning following the company’s announcement of a patent approval for another of its biomarkers used to diagnose ovarian cancer. Today’s approval covers the use of “Protein C Inhibitor (PCI) in ovarian cancer tests using blood and several other sample types.”
The company’s CEO said:
The latest patent allowance further strengthens the ovarian cancer franchise behind our lead product, OVA1®, and offers creative new options to detect and manage this silent killer.
Vermillion’s shares are up 22% at $2.08 in a 52-week range of $0.97-$7.60. Volume is very heavy, already at 5x the daily average of about 522,000 shares traded.