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Positrona?s CEO Provides Update to Shareholders

^{Published on 2011-05-12 10:25:39 - Market Wire}
 

INDIANAPOLIS--([ BUSINESS WIRE ])--Positron Corporation (OTCBB:POSC), a leading molecular imaging company specializing in the field of nuclear cardiology, today provided an update to its shareholders recapping recent developments and their expected impact on future performance.

Positrona™s chief executive officer, Patrick G. Rooney, stated, aPositron has remained extremely focused on advancing and expanding its product offerings, which are more relevant than ever in the continually evolving field of nuclear cardiology. We are pleased with our operational and business development progress since the third quarter. Industry dynamics are incredibly favorable with a fundamental shift in the nuclear cardiac market that has created demand for PET systems and radiopharmaceuticals, as well as, the need for new and innovative distribution products and models for radiopharmaceuticals; Positron couldna™t be better positioned to capitalize on the evolution of nuclear cardiology.a

Positron is focused on advancing itself as a leader in the nuclear cardiology industry, and has made tangible progress on a number of fronts:

RECENT ACCOMPLISHMENTS:

• First quarter sales; Positron has contracted three Attrius® sales with four systems pending financing and also installed four systems sold in 2010.
• PosiRxa" successfully completed testing and validation protocols, conducted by the New Mexico Center for Isotopes in Medicine at the University of New Mexico.
• March/April 2011 launch of the PosiRxa" - Positrona™s automated radiopharmaceutical system was introduced to the American Pharmacist Association Annual Meeting & Exposition and at the American College of Cardiology Annual Conference.
• Positrona™s Crown Point radiopharmaceutical manufacturing facility received the necessary regulatory licenses to produce radiochemicals, which will be available for sale in the second quarter. Positron will seek the necessary FDA approval to sell radiopharmaceutical grade products in third quarter 2011.
• Positron has made significant advancements on key software development projects. This is an important objective for Positron and we believe it will have a significant impact on future demand of our products.
• Positron has secured accounts receivable financing on its sales and service revenue that enables the Company to fund operations, increase sales force, expand marketing efforts and aggressively pursue research & development.

LOOKING AHEAD:

• Attrius® PET systems a" we have adjusted projected sales to approximately 30 systems for 2011. We are confident with our estimates provided that the availability of radiopharmaceuticals for new accounts resume. We understand that the recent reduction in the availability of Rubidium, cardiac imaging agent, is temporary and generators will be available as soon as August. Attrius® sales could be further aided by multi-system opportunities with turn-key service companies and the development of innovative financing that lowers customer risk. We believe this will increase sales volumes and reduce the length of sales cycle.
• PosiRxa" System - domestic market a" continue to develop opportunities that improve or add value to the current method of radiopharmaceutical distribution. Current targeted markets are daily high volume customers, remote location facilities and nuclear pharmacies looking for efficient, economical and compliant solutions; projected installs of 8-12 systems in 2011.
• PosiRxa" Systems - international market - currently working on a number of opportunities that positions PosiRxa" as avirtual pharmacya network model, primarily revenue sharing opportunities; projected installs in markets outside the U.S. expected by year-end.
• Radiopharmaceutical production - Indium Oxine will be produced at the Crown Point facility and ready to market as a radiochemical within the second quarter. Revenue generated from radiopharmaceutical sales will assist in subsidizing further projects as Positron move towards offering PET and SPECT pharmaceuticals.
• Positron will explore additional strategic interests that advance PET imaging systems and radiopharmaceutical availability and distribution opportunities.

Positron will continue to build its expertise and positioning within the rapidly growing nuclear cardiology field, as the need for its products continue to increase. Positron believes its continued focus on current market offerings and product expansions will prove very rewarding to its shareholders.

Patrick G. Rooney

Positron Corporation
Chief Executive Officer

About Positron: Positron is a molecular imaging company focused on Nuclear Cardiology. Positron Corporation, a pioneer in molecular imaging for more than 25 years provides unique solutions for the nuclear medicine community through the production and distribution of proprietary molecular imaging systems and radiopharmaceutical products. More information about Positron is available at [ www.positron.com ].

Forward Looking Statements: Statements in this document contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on many assumptions and estimates and are not guarantees of future performance and may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Positron Corporation to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Positron assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Our actual results may differ materially from the results anticipated in these forward-looking statements due to a variety of factors, including, without limitation those set forth as aRisk Factorsa in our filings with the Securities and Exchange Commission.

For further information please contact Positron Corporation at (317)576-0183.