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Helicos Expects to Report $5M in Q4, Q1 2010 Receipts

This article has been corrected to note that Helicos expects the revenue to be recognized in the fourth quarter of 2009 and first quarter of 2010, rather than in its third quarter of 2009.

NEW YORK (GenomeWeb News) – Helicos BioSciences today said that it expects to report cash receipts of $5 million from systems orders and associated reagent purchases during the fourth quarter of 2009 and first quarter of 2010.

"In the third quarter of 2009, we continued to accelerate the deployment of our Helicos Genetic Analysis System and to advance our technology," Helicos CEO Ronald Lowy said in a statement. "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."

The firm said that it expects to file its third-quarter report with the US Securities and Exchange Commission on or before Nov. 14.

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