CAMBRIDGE, Mass.–(EMWNews)–Helicos BioSciences Corporation (NASDAQ: HLCS) announced today its

financial results for the quarter ended June 30, 2008.

“The second quarter of 2008 was a challenging and productive period for

the company,” said Steve Lombardi, Helicos president and chief operating

officer. “We experienced significant growth in the interest of our

single molecule platform and continue to successfully work through the

normal hurdles of bringing an innovative, disruptive technology to

market.”

Acceptance of this innovation continues as:

• The company announced its second order from a leading U.S. academic

  cancer research center. The cancer center plans to use the Helicos^TM

  Genetic Analysis System in a cutting-edge research program involving

  cancer stem cell biology.

• Frost & Sullivan presented the company with the 2008 North

  American Frost & Sullivan Award for Technology Innovation of the Year.

• The company announced a collaboration with Sweden’s

  Uppsala University, a comprehensive international research university.

  The research plan, led by Claes Wadelius, is aimed at gaining new

  insights into how genome structure plays a key role in the ways genes

  are regulated within cells. The collaboration with Uppsala is the

  company’s fifth announced agreement with

  leading global institutions focused on defining new experiments that

  can enable new ways of exploring the genome that Helicos believes tSMS^TM

  uniquely addresses.

Q2 2008 Financial Results

For the second quarter of 2008, the company reported a net loss

attributable to common stockholders of $11,887,000 or $0.57 per share.

This compares to a net loss attributable to common stockholders of

$8,072,000, $0.87 per share, for the second quarter of 2007.

The company reported $251,000 in revenue for the second quarter of 2008,

compared with $143,000 in revenue for the second quarter of 2007. These

amounts represent grant revenue from the National Institutes of Health.

Total operating expenses for the second quarter of 2008 were $11,913,000

compared with $8,608,000 for the second quarter of 2007.

The company ended the second quarter of 2008 with $24,362,000 in

unrestricted cash. The company also has restricted cash of $10,450,000

as of the end of the second quarter.

Operational Update

Scientists from the company published a manuscript in the April 4, 2008

issue of the journal Science reporting for the first time ever

the sequence of an organism obtained by single molecule sequencing

methods.

The company announced a collaboration with City of Hope, an independent

biomedical research, treatment and education center dedicated to

preventing and curing cancer and other life-threatening diseases

headquartered in Duarte, California, to sequence cancer-associated

genes. City of Hope will use Helicos True Single Molecule Sequencing

(tSMS)^TM technology for the examination of known

cancer-associated gene variants and the potential discovery of new

mutations within those genes.

The company also announced a collaboration with Children’s

Oncology Group, the world’s largest childhood

cancer research organization with administrative headquarters in

Bethesda, Maryland, to elucidate genomic signatures in Ewing’s

Sarcoma. The scientific collaboration aims at demonstrating the power

and versatility of Helicos tSMS technology to measure the DNA sequence,

methylation state, and mRNA expression levels of normal, primary and

metastatic cell states. New insight into molecular events occurring in

primary and metastatic tumor states is critically important to identify

new potential therapeutic targets and further improve patient outcomes.

Conference Call and Webcast

Helicos will hold a conference call at 9:00 a.m. Eastern time today,

August 6, 2008 to review its operating results for the second quarter of

2008.

Date & Time: Wednesday, August 6, 2008 at 9:00 a.m. Eastern time

Conference Call Numbers:

Domestic: 877-419-6592

International: 719-325-4870

Webcast: www.helicosbio.com

A dial-in replay of the conference call will be available from 12:00

p.m. Eastern time on August 6 through August 13 at 888-203-1112

(domestic), 719-457-0820 (international), passcode: 5732418. The webcast

will also be archived and available through August 13 via the investor

relations section of Helicos’ Web site.

About Helicos BioSciences:

Helicos BioSciences is a life science company focused on innovative

genetic analysis technologies for the research, drug discovery, and

diagnostic markets. Helicos’ proprietary True Single Molecule

Sequencing, tSMS(TM), technology allows direct measurement of billions

of strands of DNA enabling scientists to perform experiments and ask

questions never before possible. Helicos is a recipient of the $1,000

genome grant and committed to providing scientists the tools to unlock

the era of genomic medicine. The company’s corporate headquarters are

located at One Kendall Square, Building 700, Cambridge, MA 02139, and

its telephone number is (617)264-1800. For more information, please

visit www.helicosbio.com

Certain statements made in this press release that are not based on

historical information are forward-looking statements which are made

pursuant to the safe harbor provisions of the Private Securities

Litigation Reform Act of 1995. This press release contains express or

implied forward-looking statements relating to, among other things,

management’s forecast of financial performance, expectations regarding

the achievement of technical milestones, estimates of expenses and

future revenues and profitability, product development and marketing

plans, and management’s plans, objectives and strategies. These

statements are neither promises nor guarantees, but are subject to a

variety of risks and uncertainties, many of which are beyond Helicos’

control, which could cause actual results to differ materially from

those contemplated in these forward-looking statements. In particular,

the risks and uncertainties include, among other things, our ability to

successfully scale the manufacturing process and commercialize the

HeliScope system; our history of operating losses and ability to achieve

profitability; our ability to establish manufacturing capabilities; the

research and development spending levels of academic, clinical and

governmental research institutions and pharmaceutical, biotechnology and

agriculture companies who may purchase our HeliScope system; our

reliance on third-party suppliers; competition; changing technology and

customer requirements; our ability to operate in an emerging market;

market acceptance of our technology; the length of our sales and

implementation cycles; our dependence on large contracts for the sale

and implementation of our HeliScope system; failure of our technology

and products; our ability to maintain customer relationships and

contracts; ethical, legal and social concerns surrounding the use of

genetic information; our ability to retain our personnel and hire

additional skilled personnel; our ability to manage our rapid growth;

our ability to obtain capital when desired on favorable terms; and the

volatility of the market price of our common stock. Existing and

prospective investors are cautioned not to place undue reliance on these

forward-looking statements, which speak only as of the date hereof.

Helicos undertakes no obligation to update or revise the information

contained in this press release, whether as a result of new information,

future events or circumstances or otherwise. For additional disclosure

regarding these and other risks faced by Helicos, see the disclosure

contained in Helicos’ public filings with the Securities and Exchange

Commission.

Helicos BioSciences Corporation
Condensed Statements of Operations
(in thousands except share and per share data)
							Three months ended								Six months ended
							June 30,								June 30,
							(unaudited)								(unaudited)
							2008				2007				2008				2007
Grant revenue							$	251			$	143			$	364			$	235
Operating expenses
	Research and development							7,083				5,298				12,788				10,683
	Selling, general and administrative							4,830				3,310				11,014				6,561
	Total operating expenses							11,913				8,608				23,802				17,244
		Operating loss						(11,662	)			(8,465	)			(23,438	)			(17,009	)
	Interest income (expense), net							(225	)			393				(247	)			587
		Net loss						(11,887	)			(8,072	)			(23,685	)			(16,422	)
Beneficial conversion feature related to Series B redeemable convertible preferred stock								–				–				–				(18,140	)
Net loss attributable to common stockholders							$	(11,887	)		$	(8,072	)		$	(23,685	)		$	(34,562	)
Net loss attributable to common stockholders per share–basic and diluted							$	(0.57	)		$	(0.87	)		$	(1.14	)		$	(6.42	)
Weighted average number of common shares used in computation–basic and diluted								20,726,679				9,294,298				20,707,628				5,387,214

Helicos BioSciences Corporation
Balance Sheet Data
(in thousands)
						June 30,			December 31,
						2008			2007
						(unaudited)			(unaudited)
Cash						$	24,362		$	52,683
Working capital							20,196			50,446
Restricted cash							10,450			450
Total assets							47,659			59,209
Total stockholders’ equity							22,403			43,439

Major Newsire & Press Release Distribution with Basic Starting at only $19 and Complete OTCBB / Financial Distribution only $89

Get Unlimited Organic Website Traffic to your Website 
TheNFG.com now offers Organic Lead Generation & Traffic Solutions