Astrotech Corp. a science and tech company that buys and commercializes products developed at research institutions, laboratories and universities, said Friday is is reducing its board to four members from six as part of a plan to cut costs. The Austin, Texas-based company said its chief executive is taking the unusual move of voluntarily reducing his salary as his contribution to the savings. Thomas Pickens will take a 10.4% pay cut. "We have accomplished our goal of developing a trace explosives and narcotics detector that will define the new industry standard," Pickens said in a statement. However, "the process of obtaining TSA certification -- which will enable us to sell the product worldwide -- is taking longer than anticipated." Shares jumped 5% premarket on the news, and have gained 1.8% in 2018 through Thursday, while the S&P 500 has gained 1.6%.