Virgin Galactic, founded by Richard Branson, is a British-American spaceflight company focused on providing suborbital spaceflights to space tourists and researchers. As the world's first commercial spaceline, it develops and operates its own reusable spaceflight systems, including the SpaceShipTwo and WhiteKnightTwo. While the company is shifting its focus to Delta class vehicles for commercial service in 2026, its current partners include Redwire for manufacturing research payload lockers and it operates from Spaceport America in New Mexico.
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Virgin Galactic accepted $1,000 deposits earlier in the year from people seeking the first opportunity to buy tickets when ticket sales resume.
Virgin Galactic signed a Space Act Agreement with NASA on 2020-05-05 to support research on high-speed point-to-point vehicles.
Virgin Galactic has several other Space Act Agreements to support research and development work, including one announced 2020-05-05 to assist its work on future high-speed transportation systems.
Virgin Galactic signed a Space Act Agreement with NASA’s Johnson Space Center to develop a private orbital astronaut readiness program.
Virgin Galactic signed an agreement with NASA on 2020-06-22 to support development of a program to train and potentially procure rides for private individuals seeking to fly to the International Space Station.
LauncherOne started as a Virgin Galactic project unveiled by Richard Branson at the Farnborough International Airshow in July 2012.
Virgin Galactic spun out the LauncherOne project into a separate company, Virgin Orbit, in March 2017 based in Long Beach, California.
Virgin Galactic acquired a Boeing 747 from Virgin Atlantic in 2015 to serve as the LauncherOne carrier aircraft and the name "Cosmic Girl" dates back to the aircraft’s use by the airline.
The planned sale of up to 25 million Virgin Galactic shares by Vieco 10 would generate $485,000,000 at a price of $19.40 per share at the close of trading on 2020-05-11.
The revised S-1 filing to sell some of Virgin Group’s shares caused Virgin Galactic’s stock to drop significantly in early trading on the New York Stock Exchange on 2020-05-11 and the stock closed down nearly 4% that day.
Virgin Galactic's shares reached more than $40 per share in February, fell to nearly $10 per share by mid-March, and later rose back to nearly $20 per share.
Virgin Galactic’s stated goal is to fly Richard Branson to space on SpaceShipTwo as soon as possible, but the company did not commit to flying him 2020.
Vieco 10, the Virgin Group holding company that owns the majority of Virgin Galactic, planned to sell up to 25 million shares, representing about 22% of its overall stake in Virgin Galactic.
In its 2020-05-05 earnings announcement, Virgin Galactic cautioned that it did not expect to generate significant revenue 2020 as it completes the flight test program for its SpaceShipTwo suborbital spaceplane.
Virgin Galactic filed an S-1 registration statement with the U.S. Securities and Exchange Commission on 2020-05-01 to register the resale of shares of a handful of its shareholders as part of its merger with Social Capital Hedosophia.
Virgin Galactic reported a net loss of $60,000,000 for the first quarter of 2020.
Virgin Galactic had nearly $420,000,000 of cash on hand in the first quarter of 2020.
Virgin Galactic anticipates minimal revenue for the remainder of 2020 while executing its test flight program and addressing COVID-19 safety challenges.
Virgin Galactic reduced then suspended on-site operations at its manufacturing facility in Mojave, California and at Spaceport America in New Mexico in March 2020.
An unpowered test flight of Virgin Galactic’s SpaceShipTwo from Spaceport America took place on 2020-05-01, and was the first flight of the vehicle since it was moved to the spaceport in 2020-02-01.