Mela Sciences reports revenue of $144K, will cut workforce by 25%

|By:, SA News Editor

Mela Sciences (MELA), maker of the MelaFind system, posts revenue of $144K for Q2, well short of the $250K analysts expected.

Deferred revenues as of June 30 were $434,030.

The company is embarking on a restructuring effort in order to "focus on improving commercial execution and to position [itself] to support sustainable revenue growth and eventual profitability."

MELA says it will reduce its workforce by 25%. (PR)