By Virgin Galactic Holdings Inc.’s stock experienced a 2.4% increase in premarket trading on Thursday leading up to the company’s highly anticipated first private spaceflight.
Galactic 02 Mission
The Galactic 02 mission marks Virgin Galactic’s second commercial spaceflight and seventh spaceflight overall. The livestream of the mission will begin at 11 a.m. ET.
Passengers and Milestones
The VSS Unity spacecraft will carry 80-year-old Jon Goodwin, an early ticket holder for Virgin Galactic and a former Olympian. Joining him will be Keisha Schahaff and Anastatia Mayers, a mother-daughter duo who won their seats through a fundraising draw held by the non-profit organization Space for Humanity. This will make them the first ever mother-daughter duo to venture into space as well as the first astronauts from the Caribbean region, as announced by Virgin Galactic. Goodwin, who represented Great Britain in canoeing during the 1972 Munich Olympics, will become the first Olympian with Parkinson’s disease to travel to space.
Galactic 01 Mission
In June, the Galactic 01 mission took three crew members from the Italian Air Force and the National Research Council of Italy into space for microgravity research purposes.
Future Flights and Demand
Following the Galactic 02 mission, Virgin Galactic plans to increase the frequency of its flights, aiming for monthly launches. While the current cost of a trip to space with Virgin Galactic is $450,000, primarily attracting customers from the ranks of the superwealthy, demand has remained strong. The company boasts approximately 800 individuals already signed up as “future astronauts.”
Financial Reports and Expansion
Virgin Galactic reported a net loss in the second quarter due to increased spending on research and development for its future fleet and infrastructure. However, it has indicated in previous filings that it aims to raise $400 million to support the development of its spaceship fleet, infrastructure, and further expansion of its commercial operations.
Stock Performance
This year, Virgin Galactic’s stock has experienced a 2.9% decline, while the S&P 500 index has seen a gain of 16.4%.
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