Investors will have to be patient to see Positron’s second quarter results, as on Monday the company notified the SEC that the 10-Q will be filed with delay. But despite of that, POSC does not leave the market uninformed and continues its series of press releases.
Yesterday, four months after some cooperation rumors caused the huge rush on POSC stock in April, the partnership seemed to be finally confirmed. Again, exclusively to the press.
According to yesterday’s announcement, Positron has signed an agreement with Covidien (NYSE:COV), under which COV will provide technical assistance to the company related to its technology to automate the compounding of radiopharmaceuticals. Further details were not disclosed, but the morning volume on the announcement settled down quickly and the stock reported no change in its price from the previous close at $0.08.
Thus, it seems that only the 6.5 million share volume now reminds that the April mystery has been dissolved. As half of that volume consisted of short sales, certain consequences are probably still to be seen.
In the meantime, the latest stock promotion for POSC has been disclosed on Monday last week. Promoters’ compensation for advertising POSC for an undetermined period of time consists of $45,000 in cash, paid by a non-controlling third party.
