PositiveID Corporation (OTCQB: PSID)
PositiveID Corporation™ provides advanced biological detection and diagnostic solutions for homeland security and global healthcare needs.
PositiveID Corporation™ (OTCQB: PSID) is an emerging growth company and developer of biological detection and diagnostic systems for America’s homeland defense and the global healthcare market. PositiveID specializes in the development of microfluidic systems for the automated preparation of and performance of biological assays in order to detect biological threats and outbreaks, whether airborne, in a healthcare setting, or at the point of need.
The Microfluidics-based Bioagent Networked Detector (M-BAND) developed by PositiveID is a bioaerosol monitor with fully integrated systems with sample collection, processing and detection modules. Each module is fully functional and adaptable. M-BAND runs autonomously for up to 30 days, continuously analyzing air samples for the detection of bacteria, viruses, and toxins with results in as little as two hours. Results from individual instruments are reported via a secure wireless network in real time to give an accurate and up to date status for fielded instruments in aggregate.
The company has implemented its own biological assays. More http://www.psidcorp.com/our-products/m-band
PositiveID is taking advantage of state-of-the-art device and diagnostic technologies to develop the Firefly Dx detection system. The system is a two-part device consisting of a portable handheld instrument with wireless Bluetooth communication and disposable single-use cartridges containing all necessary analytical elements. More http://www.psidcorp.com/our-products/firefly-dx
The Caregiver® thermometer by Thermomedics Inc. is the world’s first non-contact device with TouchFree™ technology developed by the team that invented tympanic thermometry! THE CAREGIVER® PROFESSIONAL is a clinical-grade infrared thermometer for measurement of forehead temperature in adults, children, and infants without contact. It is designed for use in a wide variation of medical settings and can also deliver ambient/skin surface temperatures with the flick of a switch.
- Positive ID’s Firefly Dx is linked to several government contracts and large commercial partners. The Company announced it signed a Space Act Agreement with NASA’s Ames Research Center. PositiveID also announced, in conjunction with its partner, ENSCO, Inc., that it was awarded a SenseNet Program contract from the U.S. Department of the Interior on behalf of the U.S. Department of Homeland Security Science & Technology Directorate. It has also signed a U.S. Special Operations Command (“USSOCOM”) Cooperative Research and Development Agreement (“CRADA”) with Special Operations Research, Development, & Acquisition Center, Science & Technology Directorate, to further develop Firefly Dx for use across the USSOCOM mission space.
- Firefly Dx is targeting the global PCR market, which is projected to reach approximately $27.4 billion this year, according to a Research and Markets’ report Polymerase Chain Reaction (PCR) – Products/Tools – A Global Market Watch, 2009-2015.
- Proprietary M-BAND Enters Market of Potential Multi-Billion Dollar Government Programs – Regardless of how little we want to think about it, the threat of terrorism through biological weapons is real and our government is serious about keeping us and the world safe. PositiveID’s M-BAND (Microfluidic Bio-agent Autonomous Networked Detector) continuously and autonomously analyzes air samples for the detection of biological airborne threats in the form of bacteria, viruses, and toxins. There are billions of dollars that could be won from contracts for a system that proves effective.
- Issued revenue guidance of $3-6 million for 2015. The Company has a significant backlog and pipeline of revenue opportunities for 2015 and beyond. In the short-term, these opportunities are primarily based on a signed license agreement with a major commercial partner, government programs for operational testing and evaluation of M-BAND, and the further development of Firefly Dx.
- PositiveID recently produced a new and upgraded version of the Firefly Dx polymerase chain reaction (“PCR”) breadboard prototype pathogen detection system (“prototype system”), which now incorporates real-time optics for pathogen detection in less than 20 minutes. The inclusion of real-time optics on the Firefly Dx prototype system enables the measurement of fluorescence with every cycle of the PCR process, which will help first responders and healthcare professionals understand the quality of the test being performed and to quantify the amount of pathogen present in the sample, both of which are important in determining next steps (such as quarantine measures) following a positive result. The Company previously announced production of the Company’s first article, molded PCR chips for the Firefly Dx cartridge, which enables it to produce large quantities of PCR chips at a lower cost, thereby enabling higher throughput of testing data and cost-effective field applications.
- PositiveID has tested more than a dozen different assays on its Firefly Dx breadboard prototype PCR (polymerase chain reaction) pathogen detection system. Using both its own as well as third-party assays, Firefly Dx successfully detected all the pathogens it tested for in less than 20 minutes. All tests were performed on the Firefly Dx breadboard, which is significantly faster than standard laboratory equipment and protocols. A design advantage of Firefly Dx is that it does not require additional equipment or separate steps for sample preparation and purification, unlike current lab-based equipment, thus reducing time to results as well as cost per test. In addition, there is significantly less chance of sample contamination compared to existing testing methods.
- Filed two U.S. patents for Firefly Dx: “A Cyclical and Continuous Flow PCR Device,” which covers a cyclical mechanism of thermal cycling required to complete real-time PCR and deliver results in less than 20 minutes, and “A Cyclical PCR Device with Reusable Heat Zones.” This brings the total number of patents pending for Firefly Dx to four, with a total of 18 patents/patents pending covering all of the Company’s technology.
- PositiveID signed a contract with United Technologies Aerospace Systems’ (“UTAS”) ISR & Space Systems unit to support a U.S. Department of Defense (“DoD”) contract. This contract supports the DoD Joint United States Forces Korea Portal and Integrated Threat Recognition (“JUPITR”) Program, which is intended to detect biological threats in order to protect our nation’s warfighters and allies. The JUPITR program is testing and evaluating PositiveID’s biological detection and identification technology, M-BAND. Under the initial phase of the contract, the Company expects to recognize revenue of $1 million from the contract during 2014 and early 2015.
- PositiveID announced its teaming partner Leidos (f/k/a/ Science Applications International Corporation) was awarded a prime contract by the U.S. Defense Threat Reduction Agency (“DTRA”) to conduct research and development to combat weapons of mass destruction. PositiveID will offer its Firefly Dx system and M-BAND airborne bio-threat detector as part of the Teaming Agreement.
- In March 2015 PositiveID entered into a strategic financing of $2.4 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.
Market Value: $11,203,105 a/o Oct 30, 2015
Authorized Shares: 1,970,000,000 a/o Jun 05, 2015
Outstanding Shares: 350,097,044 a/o Aug 07, 2015
Float: 265,892,298 a/o Jun 05, 2015
Shareholders of Record: 76 a/o Jun 05, 2015
Short Interest: 4,809 (5,625%) Sep 30, 2015
Transfer Agent: VStock Transfer LLC
William J. Caragol – Chairman, Chief Executive Officer, Acting Chief Financial Officer
Lyle L. Probst – President
Allison Tomek – Senior Vice President Corporate Development
Kimothy Smith, DVM, Ph.D. – Chief Technology Advisor
1690 South Congress Avenue
Delray Beach, Florida 33445
Ph: (561) 805-8000
Fax: (561) 805-8001