Sign up USA
Proactive Investors - Run By Investors For Investors

MELA Sciences shares soar after flagship MelaFind product receives PMA approval

MELA Sciences shares soar after flagship MelaFind product receives PMA approval

MELA Sciences (NASDAQ:MELA) announced Monday its flagship MelaFind product, designed to test skin lesions in association with melanoma, has received pre-market approval (PMA) from the US FDA, sending its shares up over 60%.

As of 10:17 am EDT, MELA shares rose 61.2% to $5.13. Before the bell, the skin cancer-focused medical device manufacturing company saw its shares rise over 90%.

MelaFind is a medical device intended to obtain additional information on an atypical cutaneous pigmented skin lesion, in association with melanoma, the deadliest form of skin cancer.

The device is specifically intended to be used by trained physicians, namely dermatologists, in combination with a biopsy of the lesion.

Dr. Darrell S. Rigel, Clinical Professor of Dermatology at New York University said: "MelaFind has the potential to provide dermatologists with significantly more information about indeterminate pigmented skin lesions to help us when deciding on which lesions to biopsy to detect melanoma as early as possible."

"While there have been incremental improvements in imaging tools for melanoma detection, we still primarily rely on our judgment based on a visual examination to select the lesions to biopsy; data show that this is often not enough."

Responsible for about 75% of all skin cancer-related deaths, melanoma is estimated to kill approximately 9,000 Americans in 2011 alone. If detected early, the disease is virtually completely curable. However, patients with stage IV melanoma often succumb to the disease within six to ten months.

Earlier this month, MELA received a CE mark for MelaFind, meaning that it has reached consumer standards across all 27 nations of the European Union, allowing for its sale in the EU.

View full MELA profile View Profile

MELA Sciences Timeline

Related Articles

1511808112_surgeon.jpg
January 08 2018
The device can now be sold to aid in heart treatment throughout the European Union
man at a micrscope
September 29 2017
The company is a specialist in the storage of stems cells from the umbilical cord, which could provide a potentially life-saving treatment for 82 blood-borne diseases
picture of addict
November 15 2017
To build the UK's first £1bn, self-sustainable biotech is the aim for chief executive Clive Dix

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You understand that the Company receives either monetary or securities compensation for our services. We stand to benefit from any volume this write-up may generate.

You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Copyright © Proactiveinvestors.com, 2018. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use