This roll-out is slow as can be...way too slow. On top of that, MELA has no salesforce...they have a handful of people. Frankly, I have no idea why MELA's management team is going alone on this. They should do a partnership with a company like Allergan, which already has hundreds of salespeople calling on dermatologist offices everyday around the world. If they were smart, they would sell the licensing rights to Melafind to Allergan, collect an up-front payment and royalties on sales and save all the dollars that it will take to build a worldwide salesforce and hefty marketing dollars. Shareholders would do much better than waiting around for years as they build this out.
Plus, competition isn't that far behind. Verisante Technology is about 18-24 months behind MELA in terms of getting their skin detection products to market in the U.S., and from what I can tell, their detection products not only cover melanoma but a number of other skin conditions. Verisante just announced that it is in beta testing for safety and efficacy for product. Expect launches in Canada and Germany.
MELA needs to HURRY UP and makes its land grab RIGHT NOW. They don't have the funds to build a big network...but a firm like Allergan does. They should do a marketing partnership with a medial device company with access to dermatologists!!!
CLEARLY, Wall Street doesn't have faith in MELA...the stock has been a major disaster...far lower than it was pre-approval while dilution has increased.
I'm not a happy shareholder and neither should you be right now. -- green
But, other than that, Gulfo is doing an *amazing* job. Dont you think?
Actually, an excellent and insightful post. Too bad you are now going to be accused of being a member of FEE and your moniker immediately put on "Ignore"