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PositiveID Guides to $3M-$6M in Revenues for 2015

NEW YORK (GenomeWeb) – Biological detection systems firm PositiveID today issued revenue guidance of between $3 million and $6 million for 2015.

The company said that in 2014 it recorded its first revenue since launching its molecular diagnostics business in 2011 and reported total revenue of $745,000 for the first nine months of 2014. PositiveID Chairman and CEO William Caragol added in a statement that the firm has a "significant backlog and pipeline of revenue opportunities for 2015 and beyond. In the short term, these opportunities are primarily based on a signed license agreement with a major commercial partner, government programs for operational testing and evaluation of M-BAND, and the further development of Firefly Dx." 

The M-BAND system for detecting biological agent attacks was developed under contract with the US Department of Homeland Security, Science & Technology directorate and included $30 million in contract funding. 

Firefly Dx is a PCR-based technology being developed for rapid and accurate point-of-need diagnostics and is targeted to hospitals, first responders, and other providers, PositiveID said. 

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