What is going on with BKSY?
BlackSky Technology Inc. (BKSY) stock fell today after the company announced a five-year, sole-source purchase agreement with NASA to provide high revisit satellite imaging data in support of the agency’s existing Earth observation research.
Shares of the company fell 6.18%, however, after the company reported a net loss of $46.9 million in its Friday earnings release.
What does this mean for BlackSky?
NASA's award to BlackSky will be a huge boost for the company, which has struggled to turn its strong revenue growth into profits.
The contract also reflects an alignment between government demand and BlackSky’s global intelligence products, which bodes well for future project awards.
Brian E. O’Toole, CEO of BlackSky, commented, “Helping NASA-backed researchers broaden their understanding around critical changes in the Earth’s ecosystems, oceanography, geographic and polar sciences is vitally important.”
“Our constellation delivers, dawn-to-dusk imaging that facilitates automatic pattern-of-life monitoring and anomaly detection. Fusing that data with our Spectra AI platform enables compelling and actionable scientific observations about our planet,” he added.
As part of NASA’s Commercial Smallsat Data Acquisition Program (CSDAP), research teams worldwide will have access to high spectral and spatial resolutions with increased temporal frequency and other novel capabilities.
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Biogen and Idec merged in 2003, combining forces to market Biogen's multiple sclerosis drug Avonex and Idec's cancer drug Rituxan. Today, Rituxan and next-generation antibody Gazyva are marketed via a collaboration with Roche. Biogen also markets novel MS drugs Plegridy, Tysabri, Tecfidera, and Vumerity. In Japan, Biogen's MS portfolio is co-promoted by Eisai. Hemophilia therapies Eloctate and Alprolix (partnered with SOBI) were spun off as part of Bioverativ in 2017. Biogen has several drug candidates in phase 3 trials in neurology and neurodegenerative diseases and has launched Spinraza with partner Ionis. Aduhelm was approved as the firm's first Alzheimer's disease therapy in June 2021.
