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| PSID is up 10% on Good Early Volume |
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 Hot Stock to Watch |
Company: PositiveID Corporation (OTCQB: PSID)
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Last:
Price: 0.0276
Change (%): + 0.0026 (10.40)
Volume: 4,632,468 |
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PositiveID Successfully Detects Multiple Organisms From a Single Assay on Its Firefly Dx PCR Chip
Company Continues to Advance Its Development of Firefly Dx With Multiplex PCR Detection
DELRAY BEACH, Fla., April 2, 2015 (GLOBE NEWSWIRE) - PositiveID Corporation (“PositiveID” or “Company”) (OTCQB:PSID), a developer of biological detection and diagnostics solutions, today announced that it has successfully completed additional testing of its phase II Firefly Dx prototype handheld, real-time PCR (polymerase chain reaction) pathogen detection system, and detected multiple organisms with a multiplex assay designed to simultaneously test for up to four pathogens on the Firefly Dx PCR chip.
Firefly Dx is designed to provide real-time, accurate diagnostic results in a handheld device, thereby leading to treatment scenarios at the point of need that are not possible with existing systems, which require lab-based equipment and can take hours or even days to provide results. In this stage of multiplex testing, which is one of the intended advantages of Firefly Dx, the Company delivered positive PCR results with consistent and repeated detection of each positive challenge.
Firefly’s applications include point-of-need, lab-quality, detection of pathogenic organisms; agricultural screening in both domestic sectors and developing countries; and detection of biological agents associated with weapons of mass destruction. The Company intends to continue testing of the phase II prototype, including assays developed by the Company and partners’ assays. The Company also intends to continue to decrease the time-to-result on its PCR chip.
“The ability to quickly test for multiple organisms from a single sample and identify the cause of symptoms in a patient without having to run several tests, we believe, will not only save time and money in clinical situations, but more importantly will improve treatment and outcomes,” stated William J. Caragol, Chairman and CEO of PositiveID. “We are very proud of our continued progress and validation of our technology and design.”
Firefly Dx is targeting the global PCR market, which is projected to reach approximately 27.4 billion dollars this year, according to a Research and Markets’ report Polymerase Chain Reaction (PCR) - Products/Tools - A Global Market Watch, 2009-2015.
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