Welcome to our dedicated page for Astrotech news (Ticker: ASTC), a resource for investors and traders seeking the latest updates and insights on Astrotech stock.
Astrotech Corporation (Nasdaq: ASTC) is a mass spectrometry company headquartered in Austin, Texas that develops and commercializes technology-driven businesses through its wholly owned subsidiaries. The Astrotech news stream highlights how its core mass spectrometry and gas chromatography technology is being applied in explosives and narcotics trace detection, aviation and cargo security screening, environmental testing, industrial controls, agriculture process analysis, and breath-based VOC analysis related to infections and critical health conditions.
Visitors to this page can review company press releases and other coverage related to Astrotech’s operating milestones. Recent news has described deployments of 1st Detect’s TRACER 1000 explosive and narcotics trace detection systems at airports and cargo facilities, approvals from security authorities for aviation and air cargo screening, and expansion of 1st Detect’s footprint into new regions such as Southeast Asia. Other updates cover the launch and deployment of EN-SCAN environmental testing instruments that integrate gas chromatography and mass spectrometry for real-time air, water, and soil analysis in the field.
Astrotech’s news also addresses corporate and strategic developments, including financial results, participation in investor conferences, executive appointments, and the Board of Directors’ review of strategic alternatives intended to explore options such as equity capital raises, reverse mergers, combination transactions, or potential sales of parts of the business. Investors and analysts following ASTC can use this page to track how the company’s subsidiaries are progressing in markets like security screening, environmental monitoring, industrial manufacturing, and agriculture, as well as to monitor announcements tied to its strategic review and governance activities.
For anyone researching ASTC stock, this news feed offers a centralized view of Astrotech’s operational updates, technology deployments, and capital markets communications over time.
Astrotech (NASDAQ: ASTC) and its subsidiary, 1st Detect , have announced that their TRACER 1000 has been approved by the U.S. Transportation Security Administration (TSA) for inclusion on the Air Cargo Security Technology List (ACSTL). This allows the TRACER 1000 to advance to Stage II testing, aiming for eventual qualification on the ACSTL. The TRACER 1000, known for its near-zero false alarms due to its advanced mass spectrometry technology, is already in use at airport cargo and passenger checkpoints in 14 countries, following its 2020 certification by the European Civil Aviation Conference (ECAC). CEO Tom Pickens highlighted this milestone as a significant step for entering the U.S. regulated air cargo market and progressing TSA passenger checkpoint approval.
Astrotech subsidiary AgLAB, Inc. has entered into a joint marketing agreement with SC Labs to promote the AgLAB 1000-D2 mass spectrometer and the AgLAB Maximum Value Process (MVP) testing method to SC Labs customers. The AgLAB MVP method, using Astrotech Mass Spectrometer Technology, aims to enhance yields and profits for hemp (CBD) and cannabis (THC) oil producers. SC Labs, a major cannabis and hemp testing lab, sees this partnership as a way to improve distillation efficiency and deliver better value to its clients. The agreement is expected to increase production yields by an average of 20%.
Astrotech (Nasdaq: ASTC) announced its Q3 fiscal year 2024 results, ending March 31, 2024. The company reported $34.7 million in cash and liquid investments. Year-to-date revenue reached $1.6 million, driven by sales of the TRACER 1000™ explosive trace detector (ETD) and related maintenance services and consumables. Gross margin improved to 45%, up from 37% the previous year, due to design enhancements and higher sales prices.
1st Detect, a subsidiary, is now accepting orders for the TRACER 1000 Narcotics Trace Detector (NTD). Additionally, the TRACER 1000 is listed under the U.S. General Services Administration (GSA) IT Schedule 70, enabling easier procurement by federal agencies. The company also launched Pro-Control, Inc. to leverage ATI Mass Spectrometer Technology for chemical manufacturing process control.
Astrotech showcased its products at ISC West in Las Vegas. CEO Thomas B. Pickens, III highlighted the expansion of product lines and sales efforts into FY 2025.
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