Exciting Business Applications for Novel Electro-Optical Sciences Inc. (MELA) Technology
Melanoma is a dreaded word in medicine. It implies that skin cells may have turned cancerous. Fortunately, not all pigmentation patches on skin are malignant, and melanin accumulations may be harmless. Surgeons have conventionally used invasive biopsies to study small pieces of melanomas to decide whether they need to be taken seriously. Novel Electro-Optical Sciences from Irvington, NY has developed a way for clinicians to determine the probable natures of melanomas without the bother of biopsies. The corporation had a market capitalization of about $109 million at the start of May 2008, with stock price at around $7. However, the…