PositiveID Corp (OTCMKTS:PSID) lost a large chunk of the gains made in the last few days as it closed at the end of the day with a major loss of 7.16%. The volume of the day at 8.2 million was a bit higher than the daily average of 6.4 million, adding to the already significant weekly volume. The loss of the last trading session has already turned the weekly candle in a Shooting Star pattern with bearish implications and if the next couple of sessions fail to repair the structure, the entire rally made in the last 10 sessions can be fully retraced.

PositiveID Corp (OTCMKTS:PSID) CEO Mr. William J. Caragol appeared in a audio interview taken by In the new interview, Caragol highlighted the company’s acquisition plans and talked about recent acquisition report. It should be noted that last week only the company announced about a deal to purchase Thermomedics Inc. and the product known as Caregiver®.

The highlights

The recently announced agreement forms a significant part of PositiveID’s growth strategy to boost revenue and increase its market share. It wants to add complementary items in its product portfolio so as to benefit from deeper market penetration. PositiveID stated that the acquisition deal is expected to close in the last quarter of 2015.

The acquired product known as Caregiver® is a non-contact thermometer that boasts TouchFree™ technology. It is an infrared thermometer developed to measure forehead temperature in infants, children, and also in adults. The infrared product doesn’t warrant skin contact, thus eliminating the requirement of probe cover supplies. It lowers cross-contamination risks and mitigates expenses for healthcare centers.

The plans

PositiveID reiterated that its focus remains on development and commercialization of Firefly Dx PCR system. It is a unique tool to get real-time and accurate diagnostic data in just twenty minutes. The handheld device forms an instant diagnosis tool that can be used at the treatment scenarios.

The tool boasts various features like lab-quality tests, availability at the point and time of need, detecting pathogenic organisms, detection of biological sources deemed as originating point of mass destruction, and many others. Firefly distinguishing features are instant tests and portable device, which are not available in existing systems. The existing tools are equipped in labs, require trained staff and consume long hours or days to provide results. PositiveID stock recorded gains of over 13% last Friday after a promotional report appeared in its newsfeed.