Shares of PositiveID Corporation (PSID) soared 27% in early trading Tuesday on news that it had signed an agreement with Siemens AG (SI) related to its Wireless Body(TM) platform. The license agreement allows PositiveID to expand its personalized medicine and smart healthcare applications for next generation patient monitoring and includes granting PositiveID rights to utilize key intellectual property, and, in particular, Siemens’ Patent No. 7,650,888, titled “Method and System for Identification of a Medical Implant” using radio frequency identification.
PositiveID said its focus is to use the technology to improve disease management and overall wellness through the effortless identification of implantable medical devices within the body.
Shares of PSID are currently up 25.81% at $0.78 per share. Today’s trading range for shares of Positive ID Corp. has been between $0.69 and $0.88 per share. Over the last month PSID has gained nearly 22%, but still remains at depressed levels, having fallen more than 44% year-to-date.
Positive ID Corporation has a 52 week range of $0.50 to $1.99. The stock’s 50-day moving average is $0.56 and its 200-day moving average is $0.90.
At last check [10:38 a.m. est], PSID shares, which opened at $0.73 on Tuesday, were up over 27% to $0.79 in trading on the NasdaqCM. More than 630.000 PSID shares have already traded hands compared to a daily average of around 117.000.
Disclosure: No Position