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PositiveID Corp (OTCMKTS:PSID) Stock Jumps 178% On Announcement

PositiveID Corp (OTCMKTS:PSID)

PositiveID Corp (OTCMKTS:PSID)

PositiveID Corp (OTCMKTS:PSID) shares nearly doubled in value after announcing its subsidiary will hold a press conference on September 18, 2017, to discuss a report about the FireflyDX pathogen detection system.  A report prepared by the Lawrence Livermore National Laboratory has already indicated that the real-time pathogen detection system does not have any direct competition.

Investors Reaction

Investors reacted to the revelation sending the stock up 178% to highs $0.0278 a share. The stock is currently trading at the upper end of its $0.01-$0.03 trading range. However, it continues to trade in a strong downtrend after underperforming the overall industry. The stock is still down by more than 60% for the year as it continues to trade in the shadows of its 52-week highs around $150 a share.

PositiveID Corp (OTCMKTS:PSID)
Germs growing on an agar plate in laboratory

While the FireflyDX-Portable has helped trigger renewed investor interest, it awaits to be seen if the stock will sustain its gains. The real-time pathogen detection system is designed to help medical professionals and food safety officials obtain on-site results in less than thirty minutes.

FireflyDX has successfully identified dangerous viruses such as Anthrax, Ebola Virus, Influenza, Genetically modified foods, Zika virus among others. The fact that the system is designed for use in various sectors, where molecular diagnostics are critical to ensure safety and treatment protocols, should help expand PositiveID Corp (OTCMKTS:PSID) footprint into multi-billion industries.

FireflyDX Edge

FireflyDX-Portable’s competitive edge, when compared to other existing solutions, comes down to its ability to provide accurate results in minutes. The pathogen detection system does not require any personal computing device and requires minimal training.

ExcitePCR, PositiveID Corp (OTCMKTS:PSID) subsidiary is to summarize a multi-year history for the stand alone book bag-sized detection system at the upcoming conference. The company also plans to provide an update on a lightweight version of the detection system, designed for first responders and food safety workers.

“Recent market developments have inspired us to expand our development efforts onto a new path, one that will require little if any regulatory oversight initially, yet, we believe, will allow us to solve the challenges faced by several markets,” said Lyle Probst, President, CEO ExcitePCR founder.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

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Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

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