As Matthew Herper at Forbes nicely summarizes, Vermillion (VRMLQ.PK) was delisted from Nasdaq last fall as the capital markets crashed and filed for Chapter 11 in March with less than $1 million left. According to Forbes:
The entire executive team resigned to save cash, continuing to work on a consulting basis. The board took payment in equity.But on Sept. 11, the FDA approved Vermillion's OVA1 test, which uses a blood sample to measure the levels of proteins associated with ovarian cancer, predicting whether or not the cancer is malignant and providing insights into what type of surgery is appropriate.
Vermillion's stock is up 215,900 percent from its 52-week low of a penny, closing Monday at $21.60.
Survival Lesson: Do whatever it takes to get to that value-driving milestone.