Here's why the Archer Materials (ASX:AXE) share price is up today

The Archer Materials (ASX: AXE) share price is up with news the company has access to technology it needs to scale down its biochip.

| More on:
A medical researcher works on a bichip, indicating share price movement in ASX tech companies

Image Source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Archer Materials Limited (ASX: AXE) share price is climbing after news the company has secured access to the infrastructure it needs to continue developing its biochip.

The company's new access to world-class facilities means it can continue working towards biochip feature sizes of less than 10-nanometres.

At the time of writing, the Archer Materials share price is up 3.5%, trading for 89 cents.

Let's take a closer look at the news out of the materials technology developing company today.

Next step towards a 10-nanometre biochip

Today, Archer announced it has access to some of the rare instruments and facilities able to work on nanoscale devices. As a result, the company can begin scaling down its biochip technology to 10 billionths of a metre (10-nanometres (nm)).

The company's biochip is a lab-on-chip device. It allows medical laboratory tests on an integrated circuit and includes multiple functional areas and componentry. It also includes microfluidic channels and active biosensing areas.

Replicating the abilities of the Biochip on a scale of less than 10nm would place Archer's technology as the global best-in-class in the semiconductor industry, the company has said previously.

Archer's access to a suite of deep tech infrastructure resources adds to its access to a $150 million research and prototype semiconductor foundry where it fabricates its devices.

Commentary from management

Archer CEO Dr Mohammad Choucair welcomed the news, saying:

We are very pleased to secure access to world-class facilities that would otherwise be extremely costly to purchase and operate ourselves.

Archer's growth has involved integrating the company's early-stage tech development within institutional scale operations, and this ultimately translates to maintaining a strong cash position and no corporate debt.

Archer Materials share price snapshot

The Archer Materials share price is having a fantastic year on the ASX.

Currently, the Archer Materials share price is up 71% year to date. It's also up 423% over the last 12 months.

The company has a market capitalisation of around $194 million, with approximately 226 million shares outstanding.

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned.

The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Technology Shares

A man holding a mobile phone walks past some buildings
Technology Shares

$10,000 invested in Life360 shares a year ago are now worth

This technology company has been one of the biggest risers over the last 12 months. 

Read more »

Two smiling work colleagues discuss an investment or business plan at their office.
Industrials Shares

2 rising ASX 200 shares 'largely unaffected' by US tariffs: fundie

ASX 200 shares that are mostly immune to US tariffs may provide more short-term stability in portfolios.

Read more »

A man holds his baby on his lap at the dining room table while he looks at his laptop screen earnestly.
Technology Shares

This is the one Magnificent 7 stock I don't own. Here's why

Passing on this stock has cost me, but I don't regret it.

Read more »

A woman holds a glowing, sparking, technological representation of a planet in her hand.
Technology Shares

These ASX tech shares could be set for a big year

Analysts have good things to say about these top stocks.

Read more »

A group of six work colleagues gather around a computer in an office situation and discuss something on the screen as one man points and others look on with interest
Technology Shares

3 amazing ASX 200 tech shares to buy before it's too late

Analysts are feeling bullish about these names. Let's find out why.

Read more »

Man on his laptop standing next to data centres.
Technology Shares

Can NextDC capitalise on South East Asia's data centre boom?

NextDC’s recent Malaysian contract win represents a significant milestone for the data centre company.

Read more »

A man looking at his laptop and thinking.
Technology Shares

Can Codan shares hit $20 this year?

How high can this tech share fly?

Read more »

Happy man working on his laptop.
Technology Shares

Can Xero shares surpass $200 in 2025?

Let's see what analysts are saying about this market darling.

Read more »