11:41 AM EST, 02/10/2025 (MT Newswires) -- Momentus ( MNTS ) shares were up more than 16% in recent Monday trading after the company said it has been awarded a contract expansion by the Defense Advanced Research Projects Agency to conduct an in-orbit demonstration of the assembly of large scale structures.

The latest contract award is for Phase 3 of the program worth about $3.5 million, the company said. It was awarded the initial NOM4D contract in April 2024 and completed the first two phases of the contract.

The mission will launch on an upcoming SpaceX Transporter rideshare as soon as early 2026, the commercial space firm said. The DARPA agency is a US Department of Defense organization.

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