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Helicos BioSciences Corp. (Nasdaq: HLCS) today announced it will disengage from discussions involving a potential sale of the company for now. The move comes as a surprise following the company’s active seeking of a partner for the past six months.
The Cambridge-based company, which produces a machine that can sequence the human genome, cites increased sales as one reason for the company’s improved stand-alone prospects. The company also anticipates that the cost of sequencing a genome using its instrument will fall dramatically as science advances.
“We currently estimate that with the improvements already incorporated in the system and several planned improvements to come, the price for sequencing a human genome using the Helicos system will be reduced by more than half its current level,” said CEO Ron Lowy.
The company has also enjoyed a growing market valuation: Its stock price has risen from 60 cents a share at the beginning of August to close at $2.04 a share on Monday.
However, investors turned on the stock on Tuesday following the news, dropping shares by 5 percent, to $1.94 in morning trading.
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