Molecular imaging company, Positron Corp. (OTCBB: POSC) was up more than 49 percent in mid-day trading on Wednesday, after the company announced that the Indiana Finance Authority approved its $38 million Midwestern Disaster Area Bond volume cap application.

Shares of Positron touched a daily high of $0.029, in mid-day trading on Wednesday, up from Tuesday’s closing price of $0.0181.

According to a September 21 press release, the bonds will be a part of an overall long-term strategic investment Positron is making in its proposed high energy 70 MeV cyclotron project and radiopharmaceutical manufacturing facility in Noblesville, Indiana.

Positron is a molecular imaging company focused on Nuclear Cardiology. Positron  provides innovative molecular technologies and services that are reshaping the field of nuclear cardiology through proprietary PET imaging and radiopharmaceutical solutions with a strong commitment to advancing the practice and technology of nuclear medicine.