Vermillion, Inc. (NASDAQ:VRML) Q2 2019 Earnings Conference Call Transcript

Aug 08, 2019 • 04:30 pm ET

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Vermillion, Inc. (NASDAQ:VRML) Q2 2019 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Good afternoon, ladies and gentlemen, and welcome to Vermillion's Second Quarter 2019 Conference Call. My name is Gaelyn, and I will be your coordinator for the call today. [Operator Instructions]

Leading the call today is, Valerie Palmieri, President and Chief Executive Officer; Bob Beechey, Chief Financial Officer; and Chris Goulart, Senior Vice President of Commercial Operations. After the prepaid remarks, we will open the call for Q&A.

Before we begin, I would like to remind everyone that statements made during this call, including the Q&A session, relating to Vermillion's expected future performance, future business prospects or future events or plans are forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995.

Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, actual outcomes and results are subject to risks and uncertainties, and could differ materially from those forecasts due to the impact of many factors beyond the control of Vermillion. The Company assumes no obligation to update or supplement any forward-looking statement, whether as a result of new information, future events or otherwise.

Participants are directed to the cautionary notes set forth in today's press release, as well as the risk factors set forth in Vermillion's Annual Report filed with the SEC for factors that could cause actual results to differ materially from those anticipated in the forward-looking statements.

At this time, I would like to turn the conference over to Valerie Palmieri, President and Chief Executive Officer. Valerie?

Executive
Valerie Palmieri

Thank you, Gaelyn. Hello, are we having phone problem?

Operator
Operator

No, Valerie. Your line is open.

Executive
Valerie Palmieri

Okay. Thank you, Gaelyn. Thank you, Gaelyn, good afternoon, everyone, and thank you for joining us today. This afternoon, we will review our second quarter accomplishments, financial performance as well as provide updates on our third quarter developments and plans.

Our core mission is to transform the state of women's health globally, starting with ovarian cancer. We aim to ensure that all women have the best solutions available to assess their personalized risk of cancer at an early stage when it matters most. 39 women die in the US daily of ovarian cancer, and we are working very hard to change this tragic statistic. We continue to be encouraged by the response from health care providers and patients to OVA1Plus. We are also very excited to share the publication of our clinical research, demonstrating that OVA1 improves ovarian cancer detection for all women with marked improvement in African-American women.

We had three goals for the quarter; significant and continued commercial momentum with OVA1Plus, payer traction in significant markets, publication of key data with a core focus on improved detection of ovarian cancer in African-American women, as well as our initial publications on our second-generation technology. Chris will cover Vermillion's commercial momentum in detail, but I briefly want to share key managed care highlights from the quarter.

In June, we announced that Blue Cross Blue Shield of Texas and Blue Cross Blue Shield of Arizona are now offering