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HELICOS BIOSCIENCES CORPORATION (HLCS) filed Amended Quarterly Report for the period ended 2011-09-30.
Helicos Biosciences Corp. has a market cap of $6.29 million; its shares were traded at around $0 with and P/S ratio of 1.43.
This is the annual revenues and earnings per share of HLCS over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of HLCS.
Highlight of Business Operations:
Product revenue. We recognized $214,000 and $341,000 of product revenue during the three and nine months ended September 30, 2010, respectively, and $116,000 and $454,000 of product revenue during the three and nine months ended September 30, 2011, respectively. Product revenue recognized during the three and nine months ended September 30, 2010 and 2011 consists primarily of revenue from the sale of proprietary reagents to customers.Service revenue. We had no service revenues for the three and nine months ended September 30, 2010 and $385,000 and $1.0 million of service revenue during the three and nine months ended September 30, 2011, respectively. Service revenue is derived from sales of DNA and RNA sequencing services which commenced in the fourth quarter of 2010.
Grant revenue. We recognized $422,000 and $1.5 million of grant revenue during the three and nine months ended September 30, 2010, respectively, and $224,000 and $1.2 million of grant revenue during the three and nine months ended September 30, 2011, respectively. Grant revenue recognized during the three and nine months ended September 30, 2010 and 2011 relates to the reimbursement of expenses in connection with our government research grants. The decreases in grant revenue in both the three and nine month periods ended September 30, 2011 is primarily due to the reduction of personnel resources to complete grant research work and the expiration of grants in 2011 from 2010. As of September 30, 2011, we continue to conduct research in connection with two ongoing grants.
Cost of product revenue. We recorded $94,000 and $270,000 as cost of product revenue during the three and nine months ended September 30, 2010, respectively and we recorded $70,000 and $201,000 as cost of product revenue during the three and nine months ended September 30, 2011, respectively. Cost of product revenue consists of costs associated with the sale of proprietary reagents.
Research and development expenses decreased by $4.5 million, or 90%, from the three months ended September 30, 2010 to the three months ended September 30, 2011. Research and development expenses decreased by $10.6 million, or 80%, from the nine months ended September 30, 2010 to the nine months ended September 30, 2011. The significant decreases in research and development expenses for both the three month and nine month periods ended September 30, 2011 is primarily due to a reduction in research and development personnel and research and development support costs in 2011 from 2010. Included in research and development expenses are costs associated with service and grant revenue.
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