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Helicos Shares Hit $1 for First Time in Six Months

NEW YORK (GenomeWeb News) – Following yesterday's announcement that it had sold one of its Helicos Genetic Analysis Systems to an undisclosed biotechnology company, shares of Helicos BioSciences today traded above $1 per share for the first time in six months.

The Cambridge, Mass.-based firm thus far has announced instrument placements or orders at Stanford University, the Broad Institute, the Dana-Farber Cancer Institute, and the University of Maryland. But this new sale would be the first that it has disclosed for a commercial entity.

The company booked its first revenue from the sale of the platform during the first quarter of this year, when it posted about $1.2 million in total revenue, of which $829,000 came from the sale of an instrument that it shipped in 2008.

In a statement, Helicos CEO Ron Lowy said that the sale is "an important milestone in our development as a commercial organization."

In early afternoon trade on the Nasdaq, shares of Helicos were up 58 percent at $1.09, its highest level since Jan. 21. The shares pulled back somewhat and were trading at $.89 later in the session.