Helicos Biosciences (HLCS) To Raise Funds
Helicos Biosciences (NASDAQ:HLCS) is getting hammered this morning.
that it has priced a registered direct offering of 6.4 million units, at a price of $1.00 per unit, for gross proceeds of $6.4 million before deducting underwriting discounts and commissions and estimated offering expenses. Each unit consists of one share of the company’s common stock and a warrant to buy 0.65 of a share of the company’s common stock. The warrants will be exercisable for a period of five years beginning six months after issuance, at an exercise price of $1.4385 per share. The closing of the offering is expected to take place on or about December 21, 2009, subject to the satisfaction of customary closing conditions. Thomas Weisel Partners LLC is acting as the sole book-running manager for the offering.
The company intends to use the net proceeds of the offering to fund its research and development efforts, and for general corporate purposes, including working capital
The shares are down 31% to $.93 on the news.
Douglas A. McIntyre
Helicos (HLCS) Picks Up A Little Cash
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
Helicos BioSciences (HLCS) Soars, But Will Probably Sell Off
Helicos BioSciences (HLCS) is up 32% to $3.20 very near its 52-week high. The period low is $.21 so consider the shares over-bought and ripe for a sell-off, particularly because today’s news is not spectacular.
The firm announced the publication of a landmark study in which Helicos’ True Single Molecule Sequencing (tSMS)™ technology was used to directly sequence individual molecules of RNA. The paper appeared yesterday in the on-line edition of Nature and will appear in an upcoming 2009 print issue of Nature.
The study consists of the accurate sequencing and quantitation of RNA molecules obtained directly from a biological sample without amplification, ligation or cDNA synthesis.
Any revenue potential from that?
Douglas A. McIntrye
Helicos BioSciences (HLCS) Stays Volatile
Helicos BioSciences (HLSC) is up 30% on news 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.
Helicos has risen by a remarkable amount over the last month, going from $.60 to $3.25. Recently it retained Thomas Weisel Partners to look for partners or potentially a buyer.
If Thomas Weisel is not successful, the shares are in for some punishment.
Douglas A. McIntyre
Helicos BioSciences (HLCS) Moves Up On Plans To Restructure
Helicos BioSciences (HLCS) is up over 20% to $7.85 on a possible restructuring. The shares still trade well below their 52-week high of $4.18. Read more
Helicos BioSciences (HLCS) Is On The Move Again, To Nowhere
Helicos (HLCS) got some good news when a scientist who was one of the firm’s founders said he had mapped the entire personal genome using one of the HLCS products. The stock jumped from about $.70 to $1.50 yesterday.
HLCS is on the move again today, up 33% to $1.33 after a sell-off yesterday afternoon. The only news out of the company was that Helicos BioSciences Corporation and Mr. Stephen P. Hall have agreed that Mr. Hall will leave his role as Senior Vice President, Chief Financial Officer, Treasurer, principal financial officer and principal accounting officer of the Company effective after the Company’s filing of its Quarterly Report on Form 10-Q for the quarter ended June 30, 2009 which is expected to be on Friday. That would seem like fairly bad news.
It seems that yesterday’s move is based on the notion that the company’s genome mapping machines could become the norm. The obvious quest here is that drive to the $1,000 genome…. Either way, this is still a highly speculative company with an uncertain future for investors.
This is a penny stock, and subject to wild fluctuation. The company was recently downgraded by Leerink Swann after losing $6.5 million on revenue of $1.2 million. The firm only has $14 million in cash.
Not much runway
Douglas A McIntyre
Helicos, the Aim of the $1,000 Genome (HLCS)
Helicos BioSciences (NASDAQ:HLCS) is up and up sharply on two issues. Late yesterday the company said it had sequenced a human genome. A New York Times article highlighted its ability to decode the human genome for far less cost than what has been the norm.
The article noted that the Heliscope Single Molecule Sequencer will democratize access to the fruits of the genome revolution. The notion is that this will allow a staff of three workers to decode the human genome in as little as four weeks.
Further noted was that only seven human genomes have been successfully decoded. The estimate for the cost of the first one in 2003 was put in the vicinity of $500 million.
Dr. Quake, the creator of the sequencing system, said that the costs of the more recent genome decoding cost roughly $250,000.00 to decode. The projection of the costs using his machine…. about $50,000.
If he is accurate in this, he would be right in the assessment that the floodgates could be opened and many human genomes would be sequenced. Furthermore, it was also noted that the ultimate goal of the $1,000 genome could be attained in two or three years. That could lead to making the decoding process a routine medical procedure.
The cost for the Heliscope Single Molecule Sequencer costs roughly $1 million…. depending on how hard you bargain.
Late yesterday, Helicos announced that a Helicos Genetic Analysis System was used to sequence a human genome at the Stanford Institute for Stem Cell and Regenerative Medicine. This was done using less than four runs of a single HeliScope Single Molecule Sequencer, and it achieved 28-times the average coverage of the human genome. This allowed the detection of over 2.8 million single nucleotide polymorphisms, of which the company said over 370,000 were novel. Validation with a genotyping array demonstrated 99.8% concordance.
It seems that the early excitement around the event has passed, although shares are up huge. At 11:17 AM EST we have shares up 66% at $1.20, but shares had traded as high as $1.70 today. The 52-week range is $0.21 to $4.87 and the average volume is very light at about 80,000 shares. It is not even noon yet and the stock has already seen some 6.3 million shares trade hands.
Jon C. Ogg
August 11, 2009
Latest from 247Wallst.com- Latest from VSInvestor
- Top Day Trader Alerts (AIG, BPAX, C, DVN, ICO, TEAR)
- Top Day Trader Alerts (AEO, AIG, C, FACT, FNM, FRE, SOLR, ITMN)
- Russell 2000 Top Performers Since the Crash (ATSG, AXL, ARM, BZ, CKEC, CTIC, CNO, GPRE, HGSI, LZB, PIR, PWER, PMI, UIS, VNDA)
- Top Day Trader Alerts (CSCO, CNAM, NBG, FSLR, JSDA, DRYS, FEED, BWEN, FMD)
- DryShips… Rumors of a Rumor (DRYS)
