Helicos BioSciences Q3 2009 Operating Highlights and Strategic Update
Significant Commercial and Technical Milestones Achieved
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Oct 27, 2009 - Helicos BioSciences Corporation (NASDAQ: HLCS) announced today its operational, technical and scientific highlights for the quarter ended September 30, 2009.
“In the third quarter of 2009, we continued to accelerate the deployment of our Helicos® Genetic Analysis System and to advance our technology. System orders more than doubled during the third quarter of 2009 compared to the first half of 2009 which resulted in an increase in the number of System installations from six to eleven during the quarter. We continue our drive to install our Systems in some of the world's most distinguished research sites. I am pleased to see Helicos's continued commercial momentum and growing number of examples of our technology being used to produce scientific results that truly distinguishes single molecule sequencing in the marketplace,” said Ronald A. Lowy, Helicos Chief Executive Officer.
Also during the third quarter of 2009, Helicos completed a private placement through the sale of shares of its common stock and warrants to certain new and existing investors. The offering raised approximately $9.4 million in net proceeds, after deducting placement agent fees and offering expenses. Helicos is using the proceeds to fund working capital requirements to support its sales and for general corporate purposes. 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 Company plans to file its Quarterly Report on Form 10-Q for the quarter ended September 30, 2009 on or before November 14, 2009.