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Helicos Shares up Sharply in First few Days of '09

NEW YORK (GenomeWeb News) – Shares of Helicos BioSciences have risen sharply over the first three days of trading in 2009.
Shares of the Cambridge, Mass.-based developer of single-molecule DNA sequencing systems are up nearly 300 percent so far this year from a Dec. 31 close of $.39 to today’s close of $1.49 on the Nasdaq.
Helicos’ shares had declined steadily over the last few months of 2008, and for December it was among the worst performing stocks in the GWDN Index, falling 44 percent for the month.
A few weeks ago, the firm said that it had signed a definitive agreement with certain investors to raise gross proceeds of around $18.6 million through a private placement of its shares. It followed that announcement last week with news that it would make a $10 million pre-payment on a $20 million loan on or before the end of 2008.

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