Mynaric (NASDAQ:MYNA) Gains on $33M Northrop Grumman Contract

Mynaric (NASDAQ:MYNA), a manufacturer of laser communication equipment, surged in pre-market trading after the company received an order worth $33 million from Northrop Grumman (NOC). As a part of this contract, Mynaric will deliver “optical communication terminals in the framework of the U.S. Government’s Space Development Agency Tranche 2 Transport Layer-Alpha space vehicles program.”

Mynaric expects to start delivering the products next year and continue until 2026.

MYNA Stock Performance

While none of the Wall Street analysts have covered the stock in the past three months, MYNA stock has gained by more than 37% in the past year.