Qtrex Quantum jumps 40%

Qtrex Quantum, formerly Inspira Technologies, saw its share price surge 40.2% on Friday after announcing a binding agreement with a leading quantum computing company following successful product testing. The company, which pivoted to quantum infrastructure six months ago, expects further agreements this quarter. CEO Dagi Ben-Noon stated the test result represents a new category.

Qtrex Quantum (Nasdaq: QTEX), a company that pivoted from biomedical to quantum computing infrastructure six months ago, saw its share price surge 40.2% on Friday on volume 26 times its average. The jump followed a 15.1% rise on Thursday. The company announced a binding agreement with a leading quantum computing company after its product passed testing. CEO Dagi Ben-Noon said the result was not an improvement but a different category, what a million qubit machine will require. The company expects further agreements this quarter. Qtrex Quantum uses additive manufacturing for cryogenic connections and thermal management. Its market cap reached $61 million.