Luna Innovations rises on new Intuitive deal

Luna Innovations rises to two-year high following new supply deal with Intuitive Surgical

Associated Press

NEW YORK (AP) -- Shares of Luna Innovations Inc. jumped Monday after the molecular and sensing technologies maker announced a new supply contract with robotic surgery system maker Intuitive Surgical Inc.

Luna Innovations did not disclose specific terms of the agreement, but said it is a multi-year deal that covers the work necessary to bring a new component to market. It includes development milestone payments through 2015.

Under previous deals Intuitive has used Luna's shape-sensing technology in its robotic surgery systems.

Shares of Luna Innovations jumped 51 cents, or 39.2 percent, to $1.81 in afternoon trading. Earlier the Roanoke, Va., company's stock reached a two-year high of $2.40.

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