The Colorado Ultraviolet Transit Experiment(CUTE) SmallSat mission launched in September 2021. The 6U satellite hosts a novel-designed near-ultraviolet (NUV) transmission spectrometer to characterize the composition and mass-loss rates of exoplanet atmospheres. CUTE measures how NUV light from the host star changes as the exoplanet transits in front of the star and passes through the planet’s atmosphere. Transit lightcurves created from CUTE observations will provide constraints on the composition and escape rates of these atmospheres, and may provide the first concrete evidence for magnetic fields on extrasolar planets.