Helicos Biosciences (NASDAQ: [[ticker:HLCS]]) said today that it has decided to call off discussions that could lead to a sale of the company, because of its “improving standalone prospects and its current market valuation.” The Cambridge, MA-based company hired Thomas Weisel Partners consider strategic alternatives earlier this year, and will continue to work with the investment bank on long term financial strategy. Helicos said it had $11.5 million in cash and investments on hand at the end of September, down from $19.7 million at the start of the year, according to its quarterly financial report. The company’s market value was about $132 million at today’s close.
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
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