Innovative Melanoma Skin Cancer Detection Method
Skin Cancer
Two main types of skin cancer: Melanoma and Non-Melanoma.
Multiple sub-groups or sub-types of skin cancer, the most common types are:
- Melanoma; Superficial spreading melanoma and Nodular melanoma.
- Non-Melanoma; Squamous Cell Carcinoma and Basal Cell Carcinoma.
It is believed that the leading cause of both Melanoma and Non-Melanoma cancer is exposure or over-exposure to ultraviolet (UV) rays from the sun or other sources.
The Skin Cancer Foundation cited that at least “1 in 5 Americans will develop skin cancer by the age of 70”. Source:
https://www.skincancer.org/skin-cancer-information/skin-cancer-facts/#melanoma
A look at Melanoma:
Develops in the cells responsible for producing melanin (Melanin is the pigment that gives your skin its color).
Can spread to other organs in the body.
If detected early, the estimated 5-year survival rate is approximately 99%.
The UK National Health Service (NHS) cited that “Melanoma skin cancer is the 5th most common cancer in the UK.”. Source:
https://www.nhs.uk/conditions/melanoma-skin-cancer/
Read more about Skin Cancer from the professionals here:
https://www.skincancer.org/skin-cancer-information/skin-cancer-facts/#general
https://www.nhs.uk/conditions/melanoma-skin-cancer/
How companies make money?
Detection, test methods to diagnose and confirm the presence, type, and stage of cancer.
Treatment including medicines, surgery, radiation, chemotherapy, immunotherapy, or other alternatives depending on what is recommended by the professionals.
Aftercare, recovery process after treatment, medication, lifestyle changes if recommended, and continuous follow-up.
Intellectual property rights, patents associated with the diagnosis, treatment, and reagents used in the process, equipment and platforms, medicines, and or aftercare methods.
Featured
| Company | TICKER SYMBOL | Trading Price (At time of article-03-Aug-22) |
Read more about the company here: |
| DermTech Inc | NASDAQ: DMTK | $8.36 | https://dermtech.com/ |
Why?
The typical detection method for Melanoma skin cancer is biopsy-based (This process includes the examination and surgical removal of part of a suspicious mole or skin lesions by the health care professional which is then sent for testing).
DermTech, Inc has developed a proprietary non-invasive genomic test for Melanoma skin cancer using The Smart Sticker.
As the name suggests, part of the process is similar to using a sticker (Or Band-Aid) to collect skin cells samples from the suspicious mole or skin lesions which are then sent to their lab for processing.
The skin cells sample collection process can be done at the doctor’s office or at home by the patient (With remote supervision by the appropriate health care professional).
Below is a video link from DermTech’s website showing the skin cells sample collection process (Video is less than 2 minutes).
https://dermtech.com/patient-resources/#guided-collection-video
Note that this test is not intended as a replacement for the biopsy procedure but instead can be introduced as a step before:
This means that if DermTech’s Smart Sticker test results shows the Melanoma genomic markers present, then the health care professional will decide the next course of action which may be a biopsy-based procedure.
However, if the Smart Sticker test results does not show the Melanoma genomic markers present, it would have saved the patient from the minor surgery required for the biopsy-based procedure and the risks that comes along with that.
DermTech has not stopped at the Smart Sticker solution which is already quite innovative. R&D work on new solutions is still being conducted.
The illustration below shows their product pipeline overlayed with the Skin Cancer Market Opportunity (Based on Potential U.S. Patient and Procedure Volumes):
Note the Disclaimer at the bottom of the illustration page
Continued innovation; They also developed their own Telehealth platform and mobile app (Available on the Apple Store and Google Play) – DermTech Connect which they state is “The First Telehealth Dermatology Solution for Melanoma Testing”.
DermTech Connect platform has a lot of potential due to the ease of use for the patient and health care professional and the potential to generate sales lead for DermTech’s Smart Sticker solution.
DermTech Connect platform allows patients to take a picture of the suspicious mole or skin lesions and upload it for review by an appropriate health care professional.
Aside from the immediate Smart Sticker test leads that the platform can generate, there is the potential database of pictures which can then be mapped to confirmed/non-confirmed cases with Melanoma genomic markers (In the event that the health care professional that reviews the patient’s pictures recommends DermTech’s Smart Sticker). This data interrogated with AI may lead to useful insights.
Strong approach to marketing; In addition to their Professional Sales Channel, they are also using Digital Marketing to reach out to patients directly and increase awareness.
Risks!!!
Many many!
We encourage everyone to read about the risks associated with this business. One very good place to start is by going through the company filings with the U.S. Securities and Exchange Commission:
- Use the link below to go to the U.S. Securities and Exchange Commission website https://www.sec.gov/edgar/searchedgar/companysearch.html
- Search for the company and checkout their latest 10-K or 10-Q filings.
- On the company’s 10-K or 10-Q filing, look for Risk/Risk Factors under the Table of Contents.
Some additional questions (Not answered here) when considering the risks associated with this company :
Why is the company not already hugely successful with such an innovative product and its ongoing R&D pipeline potential?
Why is the company not already acquired by one of the bigger companies with excess cash available?
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