Australia's Archer Materials soars on bio-chip development progress

Archer Materials

01/02/2022 04:46

** Shares of the semiconductor chip maker  AXE.AX  soar as much
as 31.5% to A$1.420, their highest levels since Nov. 24 
    ** Says co's 12CQ quantum chip development shows that mobile
compatible chip technology can be used to detect quantum
information at room temperature  urn:newsml:reuters.com:*:nASXb4SHDJ
    ** AXE says the technology advancement paves way for
implementation of complex qubit control, a fundamental
requirement for quantum computing processor chips to operate
    ** Co well-funded to progress its 12CQ chip tech development
with A$29 mln ($20.46 mln) in cash and no corporate debt- AXE 
    ** Shares on track for their biggest intraday pct gain since
Jan. 13 
    ** More than 5.1 mln shares change hands, compared with
30-day average volume of ~1.2 mln shares  
    ** Stock down 4% this year as of last close



($1 = 1.4176 Australian dollars)

 (Reporting by Roushni Nair in Bengluru)
 ((Roushni.Nair@thomsonreuters.com;))