Helicos BioSciences Corp.’s search for the proverbial “strategic alternatives” — read “potential suitors” — is over, now that its prospects have improved and its market valuation is up.
The Cambridge, Mass.-based genetic sequencing equipment maker hired Thomas Weisel Partners to help it examine the viability of a sale. But that option is off the table, although Helicos said it will still work with the investment bank on its long-term strategy.
In light of its new outlook, the company said it’s embarking on a program to refine its genetic analysis system, aimed at reducing cost of goods and providing customers with some price flexibility in the initial cost of the device. Helicos is also developing alternative reagent kits, to allow smaller sample runs and lower runtimes, which it expects to release next year.
Those improvements should cut the price for sequencing a human genome on the Helicos system in half, according to CEO Ron Lowy.