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| AMI Research Initiates Coverage on PSID |
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 Hot Stock to Watch |
Company: PositiveID Corporation (OTCQB: PSID)
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Last:
Price: 0.035
Change (%): + 0.004 (12.90)
Volume: 1,804,877 |
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Initiate Coverage Of PositiveID Corporation With A SPECULATIVE BUY Rating And A $0. 14 Price Target
PSID operates in the large, rapidly growing bio-threat detection market. Its lead product directly addresses this market, which has seen a surge in funding over the past decade. This is attributed to the Anthrax scare in 2001, the ricin letters in 2004, the 2003 SARS and 2009 H1N1 health crises, and most recently the concern over Middle East and North Korean chemical/biological weapons. These events have confirmed that tangible threats of infectious disease and bioterrorism. This is reiterated by significant grant money allocated by the US government. The annual global bio-detection market is growing at 12% annually and is expected to reach 5.6 billion dollars by 2016 in the US.
PSID’s second product operates in the fast growing polymerase chain reaction (PCR) market. This diagnostic testing market is growing at 14% and will reach over 27 billion dollars by 2015. There is a huge market potential for an instrument to provide immediate and accurate results, using PCR technology on a hand-held device at the point of need. Many markets could benefit from such a device because PCR is used for many different diagnostic tests including DNA testing, infectious diseases, food safety and agriculture and radiation in blood samples.
We think PSID’s devices will fuel growth. The company’s lead product, M-BAND, was developed through 30 million dollars of contract funding. The product is poised to capitalize on the next generation of BioWatch, the US government’s 3 billion dollar program to detect the release of pathogens into the air such as anthrax, botulism, plague, smallpox, tularemia and viral hemorrhagic fevers in US cities. To address a commercial market of laboratories, hospitals, and physicians, PSID is developing Firefly. Firefly is a handheld diagnostic test instrument with the ability to diagnose a wide range of test samples in less than 20 minutes, compared to two to four hours for lab devices currently in use. Firefly can rapidly diagnose environmental bacteria, clinical samples and antibiotic-resistant bacteria. Both M-BAND and Firefly are protected by a portfolio of 20 key patents/patents pending primarily for the automation of biological detection using real-time analysis for the rapid, reliable and specific identification of pathogens.
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