Vermillion Increases IPO Offering
Vermillion Inc. increased the size of its planned initial public offering while lowering the price.
Vermillion Inc. increased the size of its planned inital public offer by doubling the number of shares to 4 million. It also lowered the price from a maximum of $8.23 per share to $7.36. This dilution shouldn’t help the recent rising stock price. Vermillion sells its only product OVA1 used for ovarian cnacer through its marketing partner Quest Diagnostics.
The commercial reference lab (CRL) market has witnessed recent consolidation. GE recently purchased Clariant and Novartis acquired Genoptix. Further M&A activity can be expected to continue in the highly fragmented CRL space. There are several obvious targets that I can provide and discuss.
For more information on the companies mentioned above, the commercial reference lab segment and the $55 billion dollar in vitro diagnostics industry please contact your GLG representative and schedule an individual consult today.
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