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AUSTIN, Texas - Astrotech Corporation (NASDAQ:ASTC), a microcap technology company with a market value of $10.85 million and trailing twelve-month revenue of $0.42 million, has announced the release of an enhanced narcotics trace detector, the TRACER 1000 NTD, by its subsidiary 1st Detect. The device, which is now available for deployment, aims to improve the detection of synthetic opiates and novel psychoactive substances (NPS) through advanced mass spectrometry technology.
The TRACER 1000 NTD is designed to identify a wide range of synthetic opioids and NPS, including fentanyl analogs, which are known to pose significant challenges to public safety. This portable mass spectrometer offers rapid and precise identification of minute traces of illicit substances, which is crucial for law enforcement, border security, and public health agencies in their efforts to counter the global drug crisis.
Thomas B. Pickens III, Chairman and CEO of 1st Detect, emphasized the significance of the TRACER 1000 NTD in the fight against synthetic drugs, stating that the technology empowers security professionals and first responders with an advanced tool to detect and deter deadly substances.
The TRACER 1000 NTD boasts several features that set a high standard in narcotics detection. Its full-spectrum screening capability, high precision and sensitivity, and user-friendly interface make it suitable for a variety of security and detection environments. The device’s rapid analysis function provides results within seconds, enabling immediate intervention. According to InvestingPro data, Astrotech maintains a strong financial position with a current ratio of 10.74 and more cash than debt on its balance sheet.
1st Detect, based in Austin, Texas, specializes in developing trace detectors for the security and detection market. Its products are designed to be rugged and portable, supporting security operations in diverse settings. With a healthy gross profit margin of 47.73%, the company demonstrates strong pricing power in its market segment. Discover more insights about Astrotech’s financial health and growth potential with InvestingPro, which offers 8 additional exclusive tips for investors.
Astrotech, also headquartered in Austin, is a parent company that focuses on commercializing scalable companies through innovative mass spectrometry technology. Trading at a price-to-book ratio of just 0.39, analysis from InvestingPro indicates the stock may be undervalued relative to its Fair Value. The information presented in this article is based on a press release statement from Astrotech Corporation.
In other recent news, Astrotech Corporation held its annual meeting of stockholders, where several significant decisions were made. Shareholders elected Thomas B. Pickens III, Tom Wilkinson, Bob McFarland, Eric Stober, Charles Winn, and John Halinski as directors. Additionally, the appointment of RBSM LLP as the independent registered public accounting firm for the fiscal year ending June 30, 2025, was ratified. An advisory vote also approved the compensation of the company’s named executive officers. In another development, Astrotech updated its indemnification agreements with directors, which were approved by the Board of Directors. These agreements ensure protection against certain legal expenses and are part of the company’s commitment to corporate governance. The updates are detailed in the company’s latest 8-K filing with the U.S. Securities and Exchange Commission. These recent developments reflect Astrotech’s ongoing efforts in governance and management support.
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