By Chris Wack
Quantum Computing shares were up 30% to $3.30 after the company said it has received its second purchase order for its thin film lithium niobate photonic chip foundry from the University of Texas at Austin.
Shares of the Hoboken, N.J., company hit their 52-week high of $4.69 on Nov. 14, and have quadrupled in value in the past 12 months.
The optics technology company said the order will support the research efforts of the university's RF Acoustic Microsystem Group, and is part of its pilot launch program, with fulfillment expected in the first quarter of 2025.
Quantum Computing said its Tempe, Ariz., facility remains on track to begin production in the first quarter of 2025.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
November 20, 2024 10:04 ET (15:04 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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