Welcome to our dedicated page for Astrotech Corporation (DE) news (Ticker: ASTC), a resource for investors and traders seeking the latest updates and insights on Astrotech Corporation (DE) stock.
Astrotech Corporation (DE) Common Stock (symbol: ASTC) is a pioneering science and technology development company. The firm is renowned for its commitment to inventing, acquiring, and commercializing cutting-edge technological innovations sourced from internal research, universities, laboratories, and research institutions. Astrotech's diverse operations span several key sectors, including airport security, military applications, breath analysis, and agriculture.
One of Astrotech's flagship ventures is 1st Detect, which specializes in the development, manufacturing, and sale of advanced chemical analyzers. These tools are instrumental in enhancing security measures at airports and military installations, as well as in medical diagnostics through breath analysis. The company's TRACER 1000™, a mass spectrometry-based trace analyzer, has recently expanded its detection library to include narcotics such as fentanyl, heroin, and cocaine, highlighting its significant role in combating drug trafficking and ensuring public safety.
Another innovative branch of the company is AgLAB, which focuses on developing mass spectrometers for the agriculture market. The AgLAB's Maximum Value Process™ has demonstrated a remarkable 32% average increase in revenue, underscoring its efficacy in optimizing agricultural outputs and enhancing profitability for farmers and agribusinesses.
Astrotech continues to innovate with its latest venture, Pro-Control, Inc., a wholly owned subsidiary formed to leverage the ATi Mass Spectrometer Technology for chemical manufacturing process control applications. The introduction of the Pro-Control Maximum Value Process™ (Pro-Control MVP™) and the Pro-Control-1000™ mass spectrometer reflects Astrotech's commitment to delivering value through improved yield, potency, purity, and weight measurements in chemical manufacturing processes.
With a history of over 110 years, Astrotech has built a solid reputation based on its ability to provide reliable equipment and solutions that drive business efficiencies. The company is known for its global service and superior parts availability, ensuring long-term operational success for its clients. By visiting Telsmith, customers can learn more about how Astrotech's innovative products and services can enhance the performance of their operations.
Astrotech's commitment to innovation and excellence is further evidenced by its recent listing as an approved United States Government Vendor on the General Services Administration (GSA) schedule, opening new avenues for government contracts and partnerships.
For the latest updates and detailed information about Astrotech's performance, ongoing projects, and recent achievements, investors and stakeholders are encouraged to stay informed through the latest news releases and company announcements.
Astrotech Corporation (NASDAQ: ASTC) has appointed Jim Becker to its Board of Directors. Mr. Becker brings extensive leadership experience in strategic market growth, business process improvements, and corporate management. He will serve on the compensation, corporate governance, and audit committees. Becker, founder and CEO of Becker Logistics, has a history of revenue growth and leadership roles in various organizations. His background in logistics and M&A is expected to aid Astrotech in scaling its mass spectrometer technology across multiple markets.
Astrotech Corporation's subsidiary, BreathTech Corporation, has amended its Joint Development and Option Agreement with Cleveland Clinic. The expanded agreement focuses on developing a rapid breath test for COVID-19 and other diseases using BreathTech’s mass spectrometry technology. New targets include bloodstream and respiratory infections, as well as pathogens like Staphylococcus aureus and Clostridioides difficile. CEO Thomas B. Pickens III and CSO Dr. Karim Sirgi emphasized the potential to enhance global medical diagnoses through this technology.
Astrotech Corporation (Nasdaq: ASTC) reported impressive financial results for Q3 FY 2022, ending March 31, with TRACER 1000 sales soaring 161% year-to-date to $845K. The TRACER 1000, certified by ECAC for air security, showed an 80% revenue increase compared to last year. Gross profit surged to 53%. The AgLAB-1000-D2 successfully completed field trials, enhancing THC and CBD oil yields. Additionally, pre-clinical trials for the BreathTest-1000, aimed at detecting lung infections, are set to begin at Cleveland Clinic, marking significant advancements for Astrotech.
Astrotech Corporation (ASTC) reported a significant revenue increase of 332% for its TRACER 1000 in Q2 FY2022, marking its best quarter since launch. The device is now operational in 13 countries and has secured its first airport security order. Additionally, the AgLAB-1000-D2 has completed successful cannabis field trials, enhancing THC and CBD yield. The company is set to begin COVID-19 pre-clinical trials with the BreathTest-1000, and plans to expand through strategic acquisitions. Astrotech holds $57 million in cash, supporting its growth initiatives.
Astrotech Corporation (NASDAQ: ASTC) has appointed Dr. Karim Sirgi as the Chief Science Officer of its subsidiary BreathTech Corporation. His expertise will support the BreathTest-1000™, aimed at rapid screening for COVID-19 during upcoming human trials with Cleveland Clinic. Dr. Sirgi, a seasoned pathologist, is expected to lead research, development, and regulatory efforts. The BreathTest-1000 is designed for quick results in under one minute, targeting areas needing efficient COVID-19 testing solutions.
Astrotech Corporation (NASDAQ: ASTC) plans to hold its 2021 Annual Meeting on March 25, 2022, at 9:00 A.M. Central Time in Austin, Texas. This meeting will take place at the AT&T Hotel and Conference Center. Proxy materials will be sent to stockholders in February 2022. Deadlines for stockholder proposals are set for January 16, 2022 for nominations for the Board, and January 21, 2022 for proposals to be included in proxy materials. The company is engaged in mass spectrometry, developing products in security, agriculture, and health sectors.
Astrotech Corporation (NASDAQ: ASTC) is now focusing on strategic acquisitions to enhance its business. Appointing Tom Wilkinson as Lead Independent Director, the company aims to identify opportunities that will complement its core technology and accelerate growth. Since his tenure on the board began in 2018, Wilkinson has proven experience in M&A, having previously led Xplore Technologies to a successful sale. The goal is to improve product deployment in various sectors, including medical and security, thereby increasing shareholder value.
Astrotech Corporation (Nasdaq: ASTC) reported strong Q1 FY2022 results, ending September 30, 2021. The TRACER 1000, a mass spectrometry-based explosives trace detector, saw commercial sales increase by 34% YoY, totaling $187,000. Notably, the company received its first order for the TRACER 1000 for airport security use. Operations have been consolidated in a new Austin facility, enhancing efficiency. Astrotech maintains a robust balance sheet with $59 million in cash. Upcoming developments include human trials for the BreathTest-1000, and AgLAB product launch is on the horizon.
Astrotech Corporation (Nasdaq: ASTC) reported a pivotal fiscal year 2021, raising $74.3 million in gross proceeds through equity offerings, strengthening its balance sheet. The company aims to enhance sales of its mass spectrometry instruments and engage in strategic growth opportunities. Its TRACER 1000™, the first certified mass spectrometry-based explosives trace detector, secured its initial order for international airport deployment. Revenue reached $334,000 in FY2021, alongside reduced operational costs by approximately $2.1 million after optimizing its real estate footprint.
Astrotech Corporation (NASDAQ: ASTC) announced a significant purchase order for its TRACER 1000 explosives trace detector, marking its first deployment at airport security checkpoints. The TRACER 1000, already used at cargo facilities, will now operate in 15 locations across 10 countries in Europe and Asia. This mass spectrometry-based technology offers advantages such as high sensitivity, low false alarms, and has received ECAC certification. CEO Thomas B. Pickens reported increased interest in the TRACER 1000 as air travel recovers post-COVID, potentially improving operational efficiency at airports.
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