Helicos BioSciences Corp. (PINK:HLCS) is a life science development stage company which has generated limited revenues. In the last several sessions the price has gone up significantly.
Yesterday was the biggest percentage gain and the highest volume so far. HLCS closed up 43.96% at $0.131. The volume reached 343 thousand shares.
There is no apparent reason for the surge. The company hasn’t released any news since the election of Bruce C. Ginsberg to the Board of Directors. The 8-K pertaining to that matter is the latest filing.
HLCS is losing millions of dollars, and according to the most recent 10-Q it’s not likely the company will turn profitable any time soon. Instead, it will need more financing.
HLCS filed a class-action suit against several other companies for infringement of patent, but there are no recent developments on that front, other than Roche Holding making a hostile bid for Illumina, one of the defendants in the lawsuit.
So far today, HLCS is trading even higher at $0.14 per share. At this point, it seems the price movements are mostly speculative, and it’s hard to say where HLCS will go from here.
