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MELA Sciences Announces First Quarter 2013 Financial Results

Stocks in this article: MELA

IRVINGTON, N.Y., April 30, 2013 (GLOBE NEWSWIRE) -- MELA Sciences, Inc. (Nasdaq:MELA), the medical device company that has developed and is commercializing MelaFind ®, today announced financial results for the first quarter ended March 31, 2013.

First Quarter 2013 Performance Highlights:

  • Ended the first twelve months of the MelaFind commercial launch with significant national distribution by having placements in 28 states in the US and 21 cities in Germany.
  • 63% of US population within 75 miles of a MelaFind practice;  
  • Launched national ongoing PR campaign.
  • Began concentrated effort on system usage, the second phase of our two-phase commercial launch while continuing our phase one efforts to enhance a firm and growing customer base.
  • Ended the first quarter with signed user agreements for 138 MelaFind systems in the US and Germany;  
  • Ended the first quarter with an installed base of 126 MelaFind systems in the US and Germany and continue to work with dermatology customers to successfully incorporate MelaFind into their practices;  
  • In discussions with over 140 additional dermatologist practices that either have a user agreement currently under evaluation, or have been classified as "highly interested" by the Company.
  • Successful dermatology meetings in the US and Germany:
  • American Academy of Dermatology (AAD) meeting in Miami, March 1st – 4th.

            •  MelaFind data were presented at ten podium presentations;

            •  Experienced strong booth traffic with over 650 dermatologists engaged to learn more about MelaFind;                 350 of which received in-depth demonstrations.

  • Fachtagung: Dermatologische Praxis 2013 meeting, Frankenthal, Germany March 15-17.

            •  76 in-depth demonstrations;

            •  MelaFind workshop with 110 attendees.

  • Introduced additional pricing models to increase patient access and simplicity for practices.
  • Per session model; per lesion model, and monthly use options.
  • Increased public relations initiatives to promote patient awareness and increased usage. 
  • MelaFind appearance on The View as well as local new stations by dermatologists in the US and Germany;  
  • Expanded distribution of in-office literature, website content, and posters for dermatologists to better educate patients about MelaFind.

"We have now completed our first year on the market with MelaFind, and we are pleased to report that we have established a significant nation-wide customer base in the US and Germany, enabling us to move forward confidently with our commercialization plans. We have now begun phase two of our launch – with increased focus on patient awareness and engagement, as well as system usage, and we believe that our efforts are starting to yield results– usage represented 36% of our recognized revenue in the first quarter, up from 25% in the fourth quarter of 2012," said Dr. Joseph V. Gulfo, President and CEO of MELA Sciences. "We look forward to continuing phase two of our launch as we build upon a robust and growing base of customers and drive our business."

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