Astrotech Shoots Higher on Demo

Astrotech Corp (NASDAQ: ASTC) rose after reporting that it has completed its successful first Detect demo with the U.S. Department of Homeland Security and Transportation Security Administration personnel.

The TRACER 1000 MS-ETD will be available for demonstration at Astrotech’s annual meeting of shareholders, to be held on Thursday Austin, TX.

The TRACER 1000 is a mass spectrometry-based explosives trace detector (ETD), custom-developed for the TSA as an improvement over and replacement for the ion mobility spectrometry (IMS) ETD systems currently deployed at aviation checkpoints worldwide.

These antiquated IMS systems have many shortcomings – most notably their limited library of detectable compounds, inability to adapt to emerging threats, and significant false positive rates that extend security wait times.

"We believe the TRACER 1000 will address the TSA’s current and future ETD needs, and we are excited to begin testing with the Department of Homeland Security’s Transportation Security Laboratory in the coming weeks," said Thomas B. Pickens III, CEO of 1st Detect and Astrotech.

"The TRACER 1000 will significantly augment airport security by resolving the problems the TSA has with current IMS-based ETD systems. The demonstration of the TRACER 1000 at our annual meeting will showcase the results of years of investment, dedicated hard work, and numerous technological breakthroughs to enhance our nation’s security.”

Astrotech is "an innovative science and technology company that invents, acquires, and commercializes technological innovations sourced from research institutions, laboratories, universities, and internally"

ASTC shares soared $2.08, or 75.9%, to $4.82.