Digital Angel Gets Federal OK for Implantable Microchip

Yahoo Finance 02/12/03

Original Link:

SOUTH ST. PAUL, Minn., (Dow Jones)--Digital Angel Corp. received approval to market its temperature-sensing implantable microchip for use in pets, livestock, and other animals.

In a press release Tuesday, the company said it has received written clearances from the Food and Drug Administration and the U.S. Department of Agriculture to market the Bio-Therma microchip.

The device can transmit a signal containing temperature readings to the company's proprietary radio frequency identification, or RFID, scanners.

Digital Angel believes that its Bio-Thermo technology will provide vital internal diagnostics about the health of animals more efficiently and accurately than the invasive techniques used in the industry today.

The company is also developing other biosensors based on its implantable RFID microchip patents.

Applied Digital Solutions Inc. (NasdaqSC:ADSX - News) is the beneficial owner of Digital Angel, which owns the patents for its inventions in all applications of the implantable microchip technology for humans and animals.

American Stock Exchange-listed shares of Digital Angel traded recently at $ 2.09, up 56 cents, or 36.6%, on composite volume of 50,300 shares. Average daily volume is 38,383 shares. Even though the shares are moving away from the 52-week low of $1.49 a share, reached on Feb. 6, they are still well below the 52-week high of $7.75 on May 8.

Shares of Applied Digital also rose after news of the clearances and traded recently at 42 cents a share, up 6 cents, or 16.4%, on composite volume of about 5.66 million shares. Average daily volume is about 3.47 million shares.

Applied Digital shares traded at a 52-week high of 70 cents a share on Nov. 11 and a 52-week low of 35 cents a share on Sept. 30.