Key Developments For Helicos BioSciences Corporation
Helicos BioSciences Corporation (HLCS.O) (Consolidated Issue listed on NASDAQ Global Market)
Helicos BioSciences Corp. Provides Strategic Update On Strategic Alternatives
Helicos BioSciences Corp. announced that in its third quarter Form 10-Q filing that, as previously disclosed, the Company engaged Thomas Weisel Partners LLC (TWP), an investment bank, to assist the Company with its evaluation and execution of strategic alternatives. Based on the Company's improving standalone prospects and its current market valuation, the Board of Directors has decided to disengage from discussions involving a potential sale of the Company at the current time. The Company continues to work with TWP as a financial advisor in connection with its long term financing strategy.
Helicos BioSciences Corp. Announced Sale Of System And Scientific Collaboration With Correlagen Diagnostics Inc
Helicos BioSciences Corp. announced the sale of a system and a scientific collaboration with Correlagen Diagnostics Inc. Correlagen, a Clinical Laboratory Improvement Amendments (CLIA) certified laboratory, plans to use the Helicos Genetic Analysis System for, high-content, genetic tests based on resequencing broad panels of genes involved in disease areas such as cardiology, endocrinology, neuropsychiatry, and immunology. Helicos and Correlagen will collaborate on the optimization of sample preparation methodologies that benefit from single-molecule sequencing in the context of targeted resequencing, as well as on data analysis and visualization technologies for sequence variant detection, annotation, and clinical reporting.
Helicos BioSciences Corp. Announces Pricing of Common Stock and Warrant Private Placement
Helicos BioSciences Corp. announced that it has entered into a definitive agreement with certain new and existing investors, including Atlas Ventures, Flagship Ventures, Highland Capital Partners, Versant Ventures (the Existing Investors) and Ron Lowy, the Company`s chief executive officer, to raise approximately $10 million in gross proceeds in a private placement through the sale of shares of its common stock and warrants. The Company estimates that net proceeds from the offering will be approximately $9.4 million, after deducting placement agent fees and estimated offering expenses, which Helicos intends to use to fund working capital requirements to support its sales and for general corporate purposes. Helicos has entered into a securities purchase agreement pursuant to which it has agreed to sell an aggregate of up to 1,030,028 units for $2.57 per unit to the Existing Investors and 3,281,252 units to new investors for $2.24 per unit. The units purchased by the Existing Investors will consist of one share of the Company`s common stock and one warrant to purchase 0.662 shares of the Company`s common stock at a per share exercise price equal to $2.61. The units purchased by the new investors will consist of one share of the Company`s common stock and one warrant to purchase 0.50 shares of the Company`s common stock at a per share exercise price of $2.61. Units will not be issued or certificated.
Helicos BioSciences Corp. Sells Multiple HeliScope Sequencers to RIKEN Institute
Helicos BioSciences Corp. announced that the RIKEN Yokohama Institute Omics Science Center (OSC) has agreed to purchase four Helicos Genetic Analysis Systems. The transaction represents the first multisystem sale of the Helicos system to a large genome center. Shipments are expected to take place in September, with one system remaining in Cambridge to be used in a scientific collaboration between the two parties that began last year. In addition to the sale of systems and reagents, RIKEN and Helicos will continue a scientific collaboration that began in November 2008. The collaborative research plan is designed to enable new insights into cell biology and to explore novel methods to ultimately enable singlecell transcriptome analyses.
Helicos BioSciences Corp. Appoints Jeffrey R. Moore As New CFO-Form 8-K
Helicos BioSciences Corp. reported in its Form 8-K that Mr. Stephen P. Hall will leave his role as Senior Vice President, Chief Financial Officer, Treasurer, principal financial officer and principal accounting officer of the Company effective August 14, 2009. On August 6, 2009, the Company’s Board of Directors appointed Jeffrey R. Moore to serve as the Company’s Senior Vice President, Chief Financial Officer, Treasurer, principal financial officer and principal accounting officer of Helicos, effective August 14, 2009.
