Access Update – #06
It seems as if melanoma is getting a lot of media attention lately. Unfortunately, that is partially due to the death of Bruce Springsteen’s keyboard player Danny Federici. The founding member of the E Street Band passed away on April 17 due to melanoma. Federici battled the disease for three years.
The May 2008 issue of women’s health and beauty magazine SELF has a three-page story about melanoma, skin cancer and sun protection. As we head into summer, you’re likely to see many more stories in the media covering melanoma and sun safety.
At some point, perhaps during the summer, it is likely that presidential candidate John McCain’s previous melanomas will be a topic of conversation in the media. The New York Times already publisheda feature about it, but I suspect more attention will be paid to the subject as the election draws closer.
Melanoma is the fastest-growing cancer, at 6% per year, in terms of the number of new cases. Because the disease is fairly easily treated if identified early and so difficult (and usually fatal) if not caught early, there is an urgent medical need for a device that is more effective than a physician’s eyes.
Studies show that dermatologists identify melanoma correctly only 60% to 70% of the time. Electro-Optical Sciences’ MelaFind has been designed to recommend biopsy for melanoma with 99% accuracy. This means that the device should miss a maximum of just one out of every 100 melanomas, versus dermatologists that could misdiagnose 40 to 50.
The phase III data that will tell us whether MelaFind achieved its 99% goals should be out in the next few months. We believe that will be a catalyst for the stock as investors and the media take notice of this important life-saving device.
Lunch on Me
The e-mails and feedback we have received from Access subscribers is outstanding. Additionally, I had the pleasure of meeting several of you at the Investment U conference in St. Petersburg a few weeks ago.
It is very clear to me that my goal of attracting bright, sophisticated investors has been reached. I love swapping ideas and the back and forth conversations with educated investors. So this gave me an idea.
Twice a year, I’ll invite all Access subscribers to lunch where we can talk about the markets, share information and get to know each other better. All while dining at the famed Engineer’s Club near my publisher’s office in Baltimore. Once you get yourself to Baltimore, lunch is on me.
I’ll provide more details once we’re a bit further in the planning stage, but I just wanted to give you the heads up.
Have a great weekend.
Marc Lichtenfeld
Director of Research
Access Research Group
Stock
Symbol
Current Price
Comments
Electro-Optical Sciences
MELA
$5.97
Buy up to $5.75