MELA Sciences (MELA): Low-priced and speculative, but potential is huge 

By Paul Goodwin, Analyst and Editor of Cabot China & Emerging Market Report ?
From Cabot Wealth Advisory, 7/2/09 Sign up for free Cabot Wealth Advisory e-newsletter 

This medical technology company that doesn’t really have revenues, much less earnings, and it doesn’t have a product approved for sale. What it has is a great idea for a hand-held device that will enable dermatologists to scan skin lesions to determine whether they are melanomas.

The company is Mela Sciences (MELA), formerly known as Electro-Optical Sciences, and the device-called the MelaFind-uses light at various wave-lengths to scan the suspicious lesion. It then uses its database of melanoma images to calculate a diagnosis. 

With a huge age cohort of sun-worshipping Baby Boomers now approaching the danger years, the diagnosis of melanoma, the leading cause of death from skin cancer, is a big deal. The MelaFind is non-invasive, quick, and reportedly has a 95% accuracy rate. 

The company has submitted a Pre-Market Approval form to the FDA for MelaFind. The FDA has put the decision on a fast track, and the estimated decision date is some time this December.

This is a low-priced, speculative stock, but the potential payoff is huge. If you’re the kind of investor who likes to spin the roulette wheel every once in a while, this may be for you.

If, on the other hand, you like the idea of high potential emerging market stocks, you should consider the Cabot China & Emerging Markets Report that I write. Emerging markets can be a wild ride, but they have beaten the developed markets all hollow this year. You can get a no-risk trial subscription by clicking on this link:
Information on Introductory Subscription to Cabot China & Emerging Markets Report.

Paul Goodwin
Paul Goodwin

Emerging Markets Specialist, Analyst and Editor of Cabot China & Emerging Markets Report

A researcher and writer for over 30 years, Paul Goodwin has been a member of the Cabot investment team and editor of Cabot China & Emerging Markets Report since 2005. Under Paul’s stewardship, Hulbert Financial Digest rated Cabot China & Emerging Markets Report the number-one-rated newsletter of 2006 with a 78.6% gain for the year, the number-one-rated newsletter of 2007 with a 74.1% return, and the top-performing investment adivsory for five years with a 17.9% annual return.