NEW YORK, Nov 14 (Reuters) - Mela Sciences Inc MELA.O shares could double if a regulatory panel this week decides to recommend approval of the company’s melanoma screening device, Barron’s wrote in its Nov. 15 issue.
A panel of the U.S. Food Drug Administration is set on Thursday to vote on whether to recommend approval of the MelaFind device. But a “no” vote could cut the share price in half, the financial weekly wrote.
Mela shares hit a yearly low of $5.23 on the Nasdaq Stock Market on Friday. They have tumbled more than half since hitting a 52-week high in January. (Reporting by Phil Wahba, editing by Martin Golan)