Luna Innovations (LUNA) Stock: Why It Increased 2.2% Today

By Amit Chowdhry ● Sep 22, 2022
  • The stock price of Luna Innovations (LUNA) increased by 2.2% today. This is why.

The stock price of Luna Innovations (LUNA) increased by 2.2% today. 

Why: Luna Innovations announced a new, $14.2 million contract with its long-standing partner Intuitive Surgical. And this new agreement provides for the supply of critical photonic subsystems manufactured by Luna and incorporated into Intuitive’s next-generation robotic surgical systems.

Luna’s PHOENIX tunable laser and compact line of Optical Polarization Controllers will play a critical role in enabling further production of hardware modules for Intuitive’s advanced surgical systems, including the SenhanceTM3D visualization and control system for the new Ion robotic surgical system.

KEY QUOTE:

“This is a great example of how many of our products are finding a foothold in large and growing market applications such as surgical robotics, and it speaks directly to our growth potential. We are excited to expand our relationship with Intuitive Surgical and support its visionary leadership in improving human health and surgical outcomes. Luna is honored to help advance this leadership by supplying critical technologies over the years to come.”

— Scott Graeff, Luna’s President and CEO