DOW JONES NEWSWIRES
Electro-Optical Sciences Inc. (MELA) announced positive results
of its key trial for MelaFind, an instrument that assists in the
early detection of melanoma.
As a result, the medical device company expects to file its
approval application with the Food and Drug Administration
"shortly."
Investors applauded the announcement, sending Electro-Optical
shares surging 70.3% to $6.01 in recent trading. But that price is
still only the level the stock was at in September.
MelaFind is a hand-held imaging device that emits light of
multiple wavelengths to capture images of suspicious pigmented skin
lesions and extract data. Almost half of the melanomas in the study
were melanoma in situ, the most curable form but the most difficult
to detect.
Melanoma is a deadly form of skin cancer, which is responsible
for about 80% of skin cancer fatalities. Gary D. Monheit, an
associate clinical professor of dermatology at the University of
Alabama and the trial's lead investigator, noted early detection is
key to treating melanoma. Although no cure is currently available
for advanced-stage melanoma, if caught early it is virtually 100%
curable.
The study, conducted at seven locations across the U.S.,
included 1,831 pigmented skin lesions from 1,383 patients, making
it the largest prospective study conducted in melanoma
detection.
MelaFind detected 112 of 114 melanomas that were eligible and
evaluatable, and 125 of 127 melanomas overall. MelaFind's
specificity, or ability to accurately rule out disease, was higher
than that of a parallel study by a different group of 39
dermatologists, at a rate of 9.5% compared with 3.7%.
-By John Kell, Dow Jones Newswires; 201-938-5285;
john.kell@dowjones.com