IonQ (IONQ) said Monday it renewed a deal with Abu Dhabi's Quantum Research Center, part of the United Arab Emirates' Technology Innovation Institute, to provide access to its quantum computing systems.

The company said the renewed partnership builds on a deal first signed in January 2023 and allows the institute to utilize IonQ's advanced quantum processor for hybrid quantum-classical computing applications.

The collaboration aims to expedite research in areas such as physical system simulations, financial portfolio optimization, and quantum image processing, IonQ said.

The company's shares were down 5.5% in recent Monday premarket activity, continuing from the 1.4% decline at Friday's close.