In the first part of the year, the company said it was successful in completing the polymerase chain reaction (PCR) based device's initial prototype which has shown to be effective in testing.
PositiveID, which develops biological detection and diagnostics solutions, told shareholders it aims to pursue government developmental programs and garner contracts for both the Firefly Dx System and the M-BAND detection system to ultimately increase revenue possibilities.
PositiveID also aims to enhance the Firefly device's capabilities with the addition of real time optics and to integrate sample and PCR preparation within the cartridges.
“Not only do we believe we will report a significant increase in revenue compared to last year, but we also believe we will complete one or more product acquisitions this year, which will provide additional revenue and contribute to both our top and bottom lines going forward,” PositiveID Chairman and CEO William Caragol said.
Additional goals that the company proposed include the continued testing of multiplex assays with the system and to allow these results to also come within 20 minutes and to file additional utility patents on the device.
The Firefly device is designed to be able to produce accurate diagnostic results within a handheld system. It would likely be used in emergency situations where full-lab testing is either cumbersome or impossible.