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Print Edition StoriesThursday, October 8, 2009
Helicos BioSciences wins $2.9M grant
By Mass High Tech staff
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Helicos BioSciences Corp. has won a two-year, $2.9 million grant from the NIH’s National Human Genome Research Institute and its “$1,000 Genome Sequencing Technology Development” program. Funding for the program comes from the American Recovery and Reinvestment Act.
The company develops and sells a human genome sequencer intended to aid in cancer research, genome biology, diseases and microbiology. In August, when Helicos was in danger of being delisted from the Nasdaq stock exchange with its 60 cent trading price, the company released news that Stanford University researchers used its Genetics Analysis system to sequence the entire genome of the company’s co-founder, Steve Quake. The news turned the company’s financial standings around, resulting with 13 million stock shares trading the day after the news brokes (compared to 275,000 shares trading the day before the news). As of mid-day trading today, Helicos stock held steady at $2.88 per share.
In September, Cambridge-based Helicos (Nasdaq: HLCS) announced that it will raise about $10 million in a private placement with new and current investors, in addition to funding from the company’s CEO.
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