VirnetX jumps after General Services Administration contract award

Shares of VirnetX (VHC) are moving higher after the company announced last night that it has been awarded a General Services Administration multiple award schedule contract. “This designation makes VirnetX an approved technology provider for federal, state, and local government agencies seeking mission-critical cybersecurity, secure communications, and digital-engineering capabilities under pre-negotiated terms and pricing,” the company said in a statement. VirnetX shares are up 40%, or $6.75, to $23.75 in midday trading.