Luna +128% after selling shape-sensing technology to Intuitive Surgical

|About: Luna Innovations Incorporated (LUNA)|By:, SA News Editor

Shares of Luna Innovations (LUNA +128%) more than triple after announcing the sale of its fiber optic shape-sensing technology for medical applications to Intuitive Surgical (ISRG -1%).

LUNA will receive $12M upfront in two tranches and up to an additional $18M upon certain technical milestones and commercial measures.

LUNA says the sale will enable it to focus on the growth potential of its fiber optic sensing business while significantly strengthening its balance sheet.

HNSN +7.4%.