Virgin Galactic Holdings, Inc. - SPCE STOCK NEWS

Virgin Galactic (NYSE: SPCE) has announced that the flight window for its next rocket-powered test flight of SpaceShipTwo Unity will open on July 11, contingent on weather and technical checks. This upcoming mission, dubbed 'Unity 22,' marks the company's twenty-second flight test and features its first full crew, including founder Sir Richard Branson. The flight aims to enhance customer experience and evaluate the commercial cabin's functionality. Additionally, it will be livestreamed globally, providing audiences a unique perspective on space travel.

Virgin Galactic Holdings, Inc. (NYSE: SPCE) has received an updated commercial space transportation operator license from the FAA, enabling the company to fly customers to space. This marks a significant milestone as it's the first time the FAA has licensed a spaceline for this purpose. The company confirmed the success of its May 22 test flight, achieving Mach 3 and an altitude of 55.5 miles. The flight validated its upgraded systems and carried three research experiments under NASA’s Flight Opportunities Program, showcasing the company’s advancement towards its inaugural fully crewed test flight.

Virgin Galactic (NYSE: SPCE) has secured a contract with researcher Kellie Gerardi from the International Institute for Astronautical Sciences (IIAS) for a dedicated research flight. The mission aims to conduct experiments on healthcare technologies in a weightless environment. Collaborating with academic and government partners, the flight will utilize Virgin Galactic's unique spaceflight system to overcome historical challenges in space research. Gerardi's past experience includes reduced gravity campaigns, and she will conduct bio-monitoring and fluid configuration experiments during the flight.

Virgin Galactic (NYSE: SPCE) completed its third spaceflight, marking the first human launch from Spaceport America, New Mexico. The VSS Unity spacecraft reached Mach 3 and an altitude of 55.45 miles. The flight also supported NASA's Flight Opportunities Program by carrying scientific research experiments. The company plans to review the test data and proceed to the next flight milestone. CEO Michael Colglazier praised the successful test, signifying a major step for both the company and human spaceflight in the state.

Virgin Galactic (NYSE: SPCE) announced the upcoming rocket-powered test flight of SpaceShipTwo Unity on May 22, contingent on weather and technical evaluations. This follows a thorough maintenance review of VMS Eve, the mothership aircraft. The flight will be piloted by two crew members and will carry research payloads for the NASA Flight Opportunities program, aiming to evaluate modifications made to reduce EMI levels experienced in previous flights. A comprehensive data review post-flight will guide future test flight strategies.

Labaton Sucharow is investigating potential securities violations and fiduciary duty claims against Virgin Galactic Holdings (NYSE: SPCE). On May 4, SPCE's stock fell over 9% after the company announced it would restate certain financial results due to recent SEC comments on accounting rules for SPAC deals. The restatement will affect the consolidated financial statements from its fiscal year ended December 31, 2020, specifically regarding the accounting treatment for warrants from its business combination on October 25, 2019.

Virgin Galactic (NYSE: SPCE) reported its Q1 2021 financial results, revealing a net loss of $130 million, an improvement from a $377 million loss in Q1 2020. The company maintains a strong cash position with $617 million in cash and equivalents. Key developments include the unveiling of the VSS Imagine and several executive appointments. Despite ongoing COVID-19 impacts on operations, Virgin Galactic indicates solid momentum toward achieving its strategic objectives, enhancing its leadership team and extending partnerships.

Labaton Sucharow is investigating potential securities violations and fiduciary duty claims against Virgin Galactic Holdings (SPCE). On May 4, SPCE shares fell over 9% following the company's announcement to restate financial results due to SEC comments on special-purpose acquisition companies. The restatement affects the consolidated financial statements in the 10-K for the fiscal year ended December 31, 2020, specifically regarding the accounting treatment of warrants from the business combination dated October 25, 2019. Investors seeking to protect their interests can contact Labaton Sucharow for assistance.

Virgin Galactic (NYSE: SPCE) has rescheduled its Q1 2021 financial results announcement to May 10, 2021, after the SEC issued guidance affecting warrant accounting. This results in a restatement of its fiscal 2020 financial statements, primarily due to the treatment of warrants from its merger with Social Capital Hedosophia. The company does not expect this restatement to impact its Adjusted EBITDA or free cash flow. As of now, 2.7 million warrants are outstanding, and Virgin Galactic plans to launch its next rocket-powered spaceflight in May.