Redwire Corporation (NYSE:RDW) stock extended its upward momentum on Friday following major corporate developments reported on Thursday.
The aerospace stock built on Thursday’s gains. Traders responded to stronger-than-expected sales alongside expanding space research contracts. The Nasdaq is up 0.78% while the S&P 500 has gained 0.41%, even as the Industrials sector is essentially flat, down 0.04%.
SpaceMD Secures SpaceX Mission Contract
On Thursday, Redwire subsidiary SpaceMD announced a contract for SpaceX’s Starfall spacecraft. Planned for launch in 2028, the mission will carry up to 32 PIL-BOXes for in-space pharmaceutical development. “Space-based pharmaceutical development is reaching an inflection point,” said John Vellinger, CEO of SpaceMD.
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