ROCHESTER, NY / ACCESSWIRE / March 24, 2015 / Ticker Research, a market research firm focused on the micro cap and small cap sectors, has issued a company update on Positive ID Corporation (PSID) an emerging growth company and developer of biological detection systems for America’s homeland defense industry as well as rapid biological testing.
Highlights from the update include:
Product Innovation: Firefly Dx
PositiveID has completed the design of the second-phase (bench-top) prototype, the first major milestone in the development of the Firefly Dx second-phase prototype. With the completion of this design, the Company has begun to build the second-phase prototype of Firefly Dx, a real-time, handheld, polymerase chain reaction (PCR) pathogen detection system, which it expects to complete during the first half of 2015. Firefly Dx is designed to be a simple-to-use device that provides lab-quality, real-time PCR results anywhere, anytime, within minutes to save lives. The portability of one of its kind of diagnostic equipment makes it one of the favorite in the market.
Involvement of Strategic Investor
PositiveID entered into a strategic financing of $4 million. This transaction should provide the company with the required capital to bring the development of Firefly product to the next critical stage of development and ultimately enabling them to bring this product to market.
Increase in order backlog
PositiveID has shipped M-BAND systems to the Korean peninsula and Aberdeen Proving Ground in Maryland for continued testing as part of the JUPITR program. The contract had a total value to PositiveID of $1 million. PositiveID is preparing additional M-BAND systems for deployment to monitor air samples for potential bio threat for addressing the interest from the federal government, specifically DoD and DHS, in bio detection technologies. PSID has a product backlog of $3.5 million.
The update can be found here: http://tickerresearch.com/wp-content/uploads/2015/03/TickerResearch-PSID_Research_Update.pdf.
About Positive ID Corporation
PositiveID Corporation is an emerging growth company and developer of biological detection systems for America’s homeland defense industry as well as rapid biological testing. PositiveID is focused on the development of microfluidic systems for the automated preparation of and performance of biological assays in order to detect biological threats at high-value locations, as well as analyze samples in a medical environment. For more information on PositiveID, please visit http://www.PositiveIDCorp.com.
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SOURCE: Ticker Research