Now is the time for PSID! So many of the efforts for the Company in 2012 and 2013 are now coming into play. Please read up now on PSID and put PSID on your watchlist.
PositiveID Corporation
1690 South Congress Avenue
Suite 200
Delray Beach, Florida 33445
Ph: (561) 805-8000
Fax: (561) 805-8001
positiveidcorp.com
PROFILE:
PositiveID Corporation™ (“PositiveID”, “PSID” or the “Company”), develops molecular diagnostic systems for bio-threat detection and rapid medical testing.
The Company’s proprietary airborne pathogen detection system called M-BAND (Microfluidic Bio-agent Autonomous Networked Detector), was developed under contract with the U.S. Department of Homeland Security (“DHS”) Science & Technology directorate, and 30 million dollars of contract funding. M-BAND continuously and autonomously analyzes air samples for the detection of biological airborne threats in the form of bacteria, viruses, and toxins.
The Company’s Firefly Dx is a point-of-need, handheld system designed to deliver molecular diagnostic results using real-time TaqMan® PCR (polymerase chain reaction) chemistry. Firefly is being developed to meet the growing need in the healthcare and molecular diagnostics markets by enabling hospitals, physicians and other providers to save lives and fight disease. The commercial use of these technologies in human healthcare is expected to provide the majority of sales for PSID. Secondary markets of Firefly are expected to be in agricultural screening in both domestic sectors and developing countries, point of need monitoring of pathogenic outbreaks, and for the detection of biological agents associated with weapons of mass destruction. PSID has offices in Delray Beach, Florida and Pleasanton, California.
Company Highlights
Leading Technology and Strong IP. M-BAND is positioned to capitalize on the next generation of BioWatch, which is the U.S. government’s 3-5 billion dollar program to detect the release of pathogens into the air as part of a defense against potential terrorist attacks on major American cities. The Company’s M-BAND is one of only two known technologies capable of addressing the requirements of BioWatch Gen-3, and the only one to complete field-testing both domestically and internationally in DHS’ BAND program. M-BAND reduces detection time from the current 36-48 to 3-6 hours with PSID’s detector, allowing the deployment of countermeasures and vaccines in a time frame where casualties and fatalities can be drastically reduced. Over the past two years the Company has taken what it learned in the development of M-BAND to develop Firefly, which has its own portfolio of patents and patents pending (to be expanded in 2014). Firefly can derive results from a sample in less than 20 minutes, at the point of need, compared to two to four hours for a lab device, which would enable accurate diagnostics leading to more rapid and effective treatment than what is currently available with existing systems. The Company holds a portfolio of 20 key patents/patents pending primarily for the automation of biological detection using realtime analysis for the rapid, reliable and specific identification of pathogens.
Large Market Opportunity - BioThreat Detection. The bio-detection market has seen a surge in funding over the past decade, which can be 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 Syrian and North Korean chemical/biological weapons. These events have confirmed that threats of infectious disease and bioterrorism are persistent and real. According to Homeland Security Research Corp. the annual global bio-detection market is forecast to grow to 5.6 billion dollars by 2016, a compound annual growth rate of 12% from 2011. The U.S. market is expected to reach 2.6 billion dollars by 2016, doubling its market from 2010.
Large Market Opportunity - Rapid Medical Testing. As it relates to Firefly, the global PCR market is projected to reach approx. 27.4 billion dollars by 2015, with a CAGR of 13.9% from 2009-2015, according Research and Markets’ “Polymerase Chain Reaction (PCR) - Products/Tools - A Global Market Watch, 2009-2015" report. North America is estimated as the largest market with a market share of 40% of global market.
Strategic Partners Enhance Market Visibility and Positioning. In December 2012, PositiveID announced that it entered into an exclusive license agreement with The Boeing Company (“Boeing”). Under that agreement, Boeing paid PositiveID 2.5 million dollars and became the exclusive distributor of M-BAND for BioWatch. Under this agreement PositiveID maintains the exclusive rights to provide monthly reagents/assays for all M-BAND units to Boeing. In November 2012, the Company also announced an agreement with Science Applications International Corporation (“SAIC”) to pursue DoD contracts in Weapons of Mass Destruction (“WMD”) detection. The Company is in active discussions with several large partners related to its M-BAND and Firefly products and expects to enter into agreements with more than one of these partners in the first half of 2014.
Visibility to Deployment and Revenue Generation. PSID expects to be actively engaged and under contract with the federal government during the first half of 2014. The chart below illustrates the anticipated timeline to rollout.
Restructuring Yields Results. In 2011, PositiveID began a corporate realignment to focus on molecular diagnostic technologies for bio-threat detection and rapid medical testing with the Company’s acquisition of MFS and its patented biothreat detection technology. Since then, PositiveID has sold its implantable microchip IP, licensed its wireless diabetes management technology, and significantly reduced its cash burn. PositiveID may seek to acquire additional complementary “smart” detection technologies that can broaden its product/IP portfolio and accelerate its growth. |
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OTCQB: PSID
Market Value:
5,048,665 a/o Mar 14, 2014
Shares Outstanding:
53,709,202 a/o Jan 28, 2014
Float:
50,228,610 a/o Jan 28, 2014
Authorized Shares:
470,000,000 a/o Mar 04, 2014
Shareholders of Record:
95 a/o Jan 28, 2014
Short Interest
3,782 (-93.97%) Feb 28, 2014
RECENT NEWS:
PositiveID Corporation's CEO to Present at InvestorIdeas.com Security and Defense Conference on March 11, 2014 in New York City
PositiveID Corporation Provides 2013 Review and 2014 Outlook
KEY EXECUTIVES:
William J. Caragol
Chairman
Chief Executive Officer
Acting Chief Financial Officer
Allison Tomek
Senior Vice President
Investor Relations
Corporate Communications
Lyle L. Probst
President
Microfluidic Systems
Kimothy Smith, DVM, Ph.D.
Chief Technology Advisor
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