Helicos BioSciences (HLCS) Announces Filing of 10-Q; Disengages in Sale of Company

November 10, 2009 7:50 AM EST

Helicos BioSciences Corporation (NASDAQ: HLCS) today announced in its third quarter Form 10-Q filing that, as previously disclosed, the Company engaged Thomas Weisel Partners LLC (NYSE: TWP) to assist the Company with its evaluation and execution of strategic alternatives. Based on the Company’s improving standalone prospects and its current market valuation, the Board of Directors has decided to disengage from discussions involving a potential sale of the Company at the current time. The Company continues to work with TWP as a financial advisor in connection with its long term financing strategy.

Chief Executive Officer Ron Lowy commented: “We have had very positive feedback from our initial customers. In addition, we are seeing a growing number of novel discoveries resulting from the Helicos Genetic Analysis System’s unique capabilities and have seen an increased interest in clinical applications for which the Helicos system is uniquely suited. Not only do we have a significant lead in single molecule sequencing, but we also have established a first-mover advantage in diagnostics and biomarker discovery using single molecule sequencing technology. Our recent strategic dialogues have confirmed this.”

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