The 4DS Memory Limited (ASX: 4DS) share price is skyrocketing on Wednesday morning after the tech company announced some important news.
The 4DS Memory share price flew 142% in early trading to a new 52-week high of 16 cents per share.
It is currently trading at 13 cents per share, up 97% for the day so far.
Let's look into what's going on.
4DS Memory share price shooting the lights out
4DS Memory is a semiconductor development company of non-volatile memory technology.
The company came out of a trading halt this morning after announcing better-than-expected results in a recent analysis of its Fourth Platform Lot.
The company said the results obtained "are significantly better than the Board and management team at 4DS were expecting".
Here's a rundown of the results.
The company's analysis of its Fourth Platform Lot has verified that 4DS has:
- Successfully incorporated its ReRAM memory cells into the imec megabit array
- Validated that 4DS Interface Switching ReRAM technology is transferable from fab to fab
- Demonstrated a fully functional megabit array with 4DS Interface Switching ReRAM memory cells
- Produced consistent read and write speeds equivalent to DRAM
- Proven endurance in excess of 2 billion cycles at DRAM read and write speed on a megabit array
- Demonstrated persistent memory with variable and tuneable retention.
The company has now shown for the first time a fully functioning megabit array with 60nm memory cells, access transistors, and write circuitry.
A 'turning point' for the company
Interim executive chair David McAuliffe said the megabit array results "are a turning point for the
Company and will now shape the Board's strategic planning over the coming months".
Chief Technology Officer Ting Yen said:
We are very pleased with our imec collaboration and their comprehensive engineering support that made this significant achievement possible.
These significant and robust results validate 4DS' optimization strategy and the decision to establish a duplicate of imec's custom testing hardware and software for the megabit array at the 4DS Fremont facility.
4DS Memory share price snapshot
The 4DS Memory share price is up 383% in the year to date.
