Skin cancer detection company
Dermtech (NASDAQ:DMTK) has seen a spree of good news lately. The company is reimagining the way skin cancer is detected, using stickers rather than scalpels to remove cells for testing. With several factors pushing the stock to double so far this year, its ascent may be just beginning.
The clinical data for its melanoma detection sticker, which is called the Pigmented Lesion Assay (PLA), is promising, with the sticker demonstrating superiority to a traditional scalpel-wielding biopsy. Just how much better is it? Standard biopsies miss about 17% of melanoma cases; the PLA misses just 1%. It's also more efficient -- for every 25 biopsies performed, only one melanoma will be found, compared with one melanoma for every 2.7 PLA tests. All of this is a big win for patients -- but the positive news for this small cap doesn't stop there.