Nanotechnology developer Lumera Corp has been at the center of an enormous surge in share speculation after it said it had successfully tested its millimeter wave wireless bridge, transmitting 10 Gbps at 94 GHz.
While it said the test completed the first phase of product development, it expects to finalize the development and third-party testing of its multiband, adaptive millimeter-wave wireless communication system in mid-November.
Dr Raluca Dinu, director of its electro-optics business unit, said he is confident that the third-party tests to be conducted next month on the multiband system would be equally positive. We’ve already begun discussions with prospective customers who have expressed interest in the fully functional commercial product, he said.
Bothell, Washington-based Lumera is a development stage company that lost $10.5m last year on income of $1.5m and has little to offer investors apart from the appeal of nanotechnology.
Its stock, which opened the week at $1.60, continued to appeal to speculators yesterday and rose 16% to $5.80.
The company said the internal test, which used Gigabit Ethernet and other standard protocols, showed it could be used as a wireless bridge for enterprise campus connectivity, LAN extensions, metropolitan area networks, and storage access.
It said target customers were organizations with large amounts of data to transmit, such as large commercial enterprises and universities while government agencies had shown an interest in the wireless bridge for use in disaster-recovery applications.