Helicos Takes Itself Off Block
Luke Timmerman11/9/09
Helicos Biosciences (NASDAQ: HLCS) said today that it has decided to call off discussions that could lead to a sale of the company, because of its “improving standalone prospects and its current market valuation.” The Cambridge, MA-based company hired Thomas Weisel Partners consider strategic alternatives earlier this year, and will continue to work with the investment bank on long term financial strategy. Helicos said it had $11.5 million in cash and investments on hand at the end of September, down from $19.7 million at the start of the year, according to its quarterly financial report. The company’s market value was about $132 million at today’s close.
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.
