Helicos Raises $18M in Private Financing

Luke Timmerman12/19/08

Helicos Biosciences, the Cambridge, MA-based maker of genetic analysis tools, said today it has reached an agreement to raise $18 million in a private offering of common stock and warrants to buy shares. Helicos (NASDAQ: HLCS) didn’t say how much longer the cash infusion will allow it to operate. The company reported a net loss in the third quarter of $11.4 million, and about $22.8 million of cash and investments left at the end of September.

Luke Timmerman is the National Biotech Editor of Xconomy, and the Editor of Xconomy Seattle. E-mail him at ltimmerman@xconomy.com or follow him on Twitter at twitter.com/ldtimmerman.