Helicos Considers “Strategic Alternatives”
As of June 30, Helicos had $13.4 million in cash and cash equivalents available that the company believes, along with sales and expense reductions, can fund operations through the first quarter of 2010. Helicos has installed six Genetic Analysis Systems, two of which were purchased. The company has announced an order from the St. Laurent Institute and the sale of four systems to RIKEN Institute. Helicos expects the paired read capability of the system to be available in the fourth quarter.
Cambridge, MA 9/3/09—Next-generation sequencer developer Helicos BioSciences has engaged Thomas Weisel Partners to assist in its strategic evaluation and execution of strategic alternatives. The company is currently engaged in discussions with potential partners both inside and outside the genetic sequencing market regarding strategic alternatives, including equity financing and other funding sources, such as partnerships. (For Helicos’s second-quarter results, see page 12.)
