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 develops instrumentation businesses built around mass spectrometry and gas chromatography technologies through wholly owned subsidiaries. News about ASTC commonly covers 1st Detect and its TRACER 1000 trace detection systems for aviation security, explosives screening, and narcotics detection, including regulatory certifications, deployments, and security-market applications.
Company updates also address AgLAB process analyzers for agriculture products, Pro-Control industrial chemical process control, BreathTech breath-analysis work for volatile organic compounds, and EN-SCAN portable environmental GC-MS for field testing of air, water, and soil. Recurring releases include fiscal results, research and development progress, sales activity, leadership appointments, and board-level strategic or governance actions.
Astrotech Corporation (Nasdaq: ASTC) has announced the pricing of a public offering of 7,826,086 shares of common stock at $2.30 per share, expecting gross proceeds of approximately $18 million. The offering is anticipated to close around October 23, 2020, subject to customary conditions. H.C. Wainwright & Co. is the exclusive placement agent. Proceeds will be used for ongoing operating expenses and working capital. The securities are offered under effective registration statements filed with the SEC.
Astrotech Corporation's subsidiary, BreathTech Corporation, has signed a joint development agreement with Cleveland Clinic to enhance the BreathTest-1000™ mass spectrometer for rapid COVID-19 screening. This partnership aims to create a non-invasive device that identifies COVID-19 strains from breath samples, potentially providing a low-cost, large-scale screening solution. The clinical trial with the technology is expected to commence soon, leveraging the expertise of Dr. Raed Dweik and his research team in detecting diseases through breath analysis.