HomeBusinessShift to new rocket amid losses, investigation

Shift to new rocket amid losses, investigation

The company’s LV0010 rocket stands on the launchpad at Florida’s Cape Canaveral ahead of the NASA TROPICS-1 mission.


Small rocket-builder Astra said Thursday it would not have any additional flights this year after the company reported another quarterly loss.

“Whether we’ll be able to commence commercial launches in 2023 will depend on the success of our test flights” for a new rocket system, Astra CEO Chris Kemp added during the company’s second-quarter conference call.

Shares of Astra fell 5% in after hours trading from its close of $1.58, with the stock down more than 80% in the past 12 months.

Astra said it is moving away from its Rocket 3.3 system earlier than expected, and will now focus on the next version of its launch vehicle. The upgraded system, called Rocket 4.0, is more powerful and more expensive, with a price tag of up to $5 million per launch.

The switch comes after…

Read more at www.cnbc.com

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