The company’s LV0010 rocket is at the launch site of Cape Canaveral in Florida before the NASA TROPICS-1 mission.
Astra
Shares of rocket launcher Astra fell sharply in trading on Monday after a weekend launch carrying NASA satellites failed to reach orbit.
The Astra LV0010 rocket took off on Sunday from launch complex 46 at Cape Canaveral in Florida, carrying two satellites in the NASA TROPICS-1 mission. The first part of the mission went according to plan, but the rocket’s top engine shut down early and the company failed to deploy the satellites.
“We are reviewing flight data to determine the root cause of this anomaly and will provide additional information when available,” Astra wrote in the securities documentation.
Shares of Astra fell as much as 25% from its previous close of $ 2.02 per share. The TROPICS-1 mission is the company’s second failure in three launches this year.
In a tweet, Astra CEO Chris Kemp noted that NASA must have four of the planned six TROPICS satellites in orbit to be successful, so “the next two launches should work.” TROPICS-1 was the first of three missions assigned by NASA to Astra.
“Our team understands what is at stake,” Kemp said.
The company’s vehicle is 43 feet high and is considered a small rocket in the launch market. Astra’s goal is to launch as many of its small missiles as possible – in order to reach a speed of one rocket per day by 2025 – and further reduce its cost by $ 2.5 million.
Astra went public last year after the completion of the SPAC merger, raising funds to build production of its small rockets, expand its facilities in Alameda, California, and expand the business lines of its spacecraft and spaceport.
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