Shares of Rocket Lab USA, Inc. (NASDAQ: RKLB) rocketed 5.46% higher during Thursday's trading session, fueled by the company's announcement of a significant milestone in its collaboration with NASA and Eta Space. The space technology firm has completed the spacecraft for the LOXSAT mission, a crucial step in demonstrating advanced cryogenic fueling capabilities in orbit.

Rocket Lab revealed that it has successfully cleared the Systems Integration Review (SIR) and finished building its Photon spacecraft for the LOXSAT mission. This project, part of NASA's Tipping Point program, aims to test a cryogenic fluid management system in space, potentially paving the way for future orbital refueling technologies. The mission's success could be a game-changer for sustainable space exploration beyond Earth's orbit.

Investors are responding positively to this news, recognizing Rocket Lab's growing capabilities in both launch services and spacecraft manufacturing. The company's involvement in cutting-edge space technology development, particularly its ability to provide end-to-end space solutions, is seen as a strong indicator of its potential for growth in the expanding space industry. With the LOXSAT mission scheduled for launch in early 2026 on Rocket Lab's Electron rocket, the market appears optimistic about the company's future prospects and its position as a key player in advancing space exploration technologies.