Helicos (HLCS) Picks Up A Little Cash
October 27, 2009 · Filed Under Financial
Helicos BioSciences (NASDAQ:HLCS) picked up a little extra cash. According to an update passed out by the company today, sales of the Helicos Genetic Analysis System more than doubled last quarter.
Helicos expects approximately $5 million in cash receipts from previously announced System orders and associated reagent purchases. Cash inflows from these orders are expected to occur during the fourth quarter of 2009 and the first quarter of 2010.
The firm also confirmed that it raised $9.3 million. It also confirmed that Thomas Weisel Partners was examining “stategic options” for Helicos, which means it is trying to find a buyer.
Shares are up 10% on all of that news to $2.30.
Douglas A. McIntyre
