The film is based on a story by Robert A. Heinlein, who shares screenwriting credit with producer Jack Seaman. Apparently the film was made without Heinlein's consent and he disowned it as his work. The film was directed by the mysterious Richard Talmadge.
The film is unusual for its time in both attempting to portray space travel in a "realistic" manner (which it does quite well considering it was pre-Apollo), and for depicting a future in which women hold positions of authority and responsibility equal to men; in the film the President of the United States is a woman. Being set in 1970, they were not far off on the space travel, but a bit too optimistic on the presidency.
This movie and "Cat-Women of the Moon" (1953) were made using some of the same sets and costumes. The two films were then released within one day of each other. While both are a bit cheesy, they both have their merits.