Good Evening Readers!
MELA has been the gift that keeps on giving today, not only sustaining its gains, but closing at a new high of day!
MELA opened at 1.86 and made its way up throughout the entire trading session and closed one cent below the high at 2.27!
That's a 22% increase with over 1.1M in volatility today with 14x the 5 day avg volume traded!
MELA went into breakout mode with just minutes left in the day so make sure you keep this one close and a top priority going into tomorrow as we have a feeling this momentum could continue.
Just in case you missed it, this is the email we sent earlier today.
We have just uncovered a new development regarding MELA that could potentially be huge!
In July 2014, MELA announced that it took the first step in the process of obtaining insurance reimbursement for its Multi-Spectral Digital Skin Lesion Analysis procedure that is performed by dermatologists utilizing the MelaFind system as an aid in the detection of melanoma. The Company submitted an application for a Current Procedural Terminology code, which is necessary for Medicare Part B reimbursement by the Centers for Medicare and Medicaid Services. Currently, there is no CPT code available for the MelaFind process. The Company plans to commence efforts to obtain reimbursement from private insurers during the CMS’ coverage determination process. Coverage could become available as early as January 2016.
This could be a potentially huge step for the company as a whopping 583B was spent on medicare benefits in 2013.
Another thing to note is that MELA is showing a 36% increase in revenues this year over last year!
Jan.to Sept. 2013 MELA showed revenues of $396k
Jan to Sept. 2014 MELA had revenues of $540k
Here is the report from this morning as well in case you missed it.
Our new medical tech pick is MELA – MELA Sciences
MELA Sciences is a medical technology company dedicated to designing and developing innovative software driven technology for physician clinical use for the early detection of skin cancer.
MELA sciences conducted the largest, positive prospective study ever done on the melanoma disease, and is the first and only medical technology company to receive both FDA pre-market approval for the US and CE marking certification of the European Union for their flagship product, MelaFind.
MELA is the developer of the MelaFind system, a non-invasive software driven image analysis device approved for use in the US and European union to assist dermatologists in melanoma diagnosis.
MELA has a last price of 1.83 a share and was as high as 2.82 a share in February after making a huge multi day run from around 1.50 a share.
MELA has been consolidating in this area after the huge run for a few weeks now. The stability in the price makes us believe we could have great potential for another run upwards and maybe even see new highs!
Even a return back to recent highs could be good for over 50% from here.
Compared to other Nasdaqs MELA has a very small share structure with only 5.2M in the OS.
On January 13, MELA presented at the Eighth Annual OneMedForum which hosts nearly 100 innovative growth companies and connects promosing companies with investors and executives.
On October 21, 2014 MELA announces that one study concluded that the use of MelaFind reduced benign biopsies by 61% in patients at risk for melanoma
Between 40 and 50% of Americans who love to the age of 65 will have some form of skin cancer at least once.
Every 57 minutes, one person in the US dies of melanoma and 16 people are diagnosed with the disease.
In the US, an estimated 2.36B is spent on care for melanoma with 65% being spent on continued care, 21% on the last year of life, and only 14% on initial care.
If caught early enough, a dermatologist removes melanoma at a cost of approximately 1,800 per patient.
Treatment costs soar as the melanoma advances, rising to approximately 170,000 per patient and accounting for roughly 90% of the overall treatments costs.
So you can see why a device like MelaFind can be such an important tool and should be used by every dermatologist in the world for early detection!
Good luck
-The Professor
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