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Monday, May 9, 2011

Mela Sciences Inc (NASDAQ: MELA) in News:Filed Petition asking to follow FDA laws and protocol agreement !!

MELA Sciences Inc,( NASDAQ: MELA), company is in news again as it is waiting for Pre Marketing Approval of MelaFind. Company has Submitted A Citizen Petition To FDA Commissioner Calling For Enforcement Of Binding Protocol Agreement And FDA Laws And Regulations In PMA Review Of MelaFind:

MELA Sciences, Inc. announced that it has submitted a Citizen Petition with the U.S. Food and Drug Administration (FDA or the Agency), requesting that Margaret Hamburg, MD, Commissioner of the FDA, enforce its binding protocol agreement as well as FDA laws and regulations in the review of the MelaFind® pre-market approval (PMA) application. MELA Sciences is asking the Commissioner to investigate why her Agency has acted outside its own laws, regulations and guidelines, as described at length in the Citizen Petition," said Joseph Gulfo, MD, President and CEO, MELA Sciences.

Stock of the company has shown a little upside but it wil not be considered a breakout until it will move up and trade continuously above $ 4. As we have seen in the past, stock is in the consolidating range and not able to cross $4. We encourage investors to eye on development of Melfind, that will take the stock out of trading range and might see new 52 week high as well. Read our reports and recommendation on penny stocks below links

( Source: Reuters)


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