On October 16, IONQ Inc. rose 5.25% in Regular Trading, trading near $33.04 per share, with turnover of about $1.002 billion.

The move followed the company’s announcement that it has opened a Quantum Innovation Centre at Cambridge University in the UK, a fresh event-driven catalyst that appears to have improved near-term sentiment around technology commercialization and ecosystem expansion.

According to the announcement, the partnership includes nine research projects focused on quantum hardware, networking and computing applications, alongside deployment of a Superion 256 quantum computer. The computational work will study quantum algorithms across chemistry, materials science, finance, engineering and medicine. The gain is notable because it came shortly after IONQ Inc. priced a $2 billion equity offering and after a target price cut by Morgan Stanley to $43 from $49, suggesting the new university collaboration helped offset some recent dilution-related pressure.

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