Enzo Biochem Inc Stock Price, News & Analysis

Enzo Biochem reported third quarter revenue of $26.2 million, reflecting a 20% decline from the prior year, primarily due to reduced COVID-19 testing. The Enzo Clinical Lab revenues decreased by 26% to $18.6 million, attributed to lower accession counts. Conversely, Enzo Life Sciences revenue remained steady at $7.6 million, while non-COVID revenue rose by 3%. The company appointed new executives and received New York State approval for its AMPIPROBE® HPV tests. A net loss of $4.9 million was reported, down from a profit of $2.0 million last year.

Enzo Biochem (NYSE:ENZ) will report Q3 2022 financial results on June 9, 2022, post-market. A conference call is set for June 10, 2022, at 8:30 AM ET to discuss these results. Investors can join via domestic and international numbers or through a webcast. Enzo Biochem specializes in molecular diagnostics and aims to address the changing healthcare landscape with innovative technologies and a strong intellectual property portfolio.

Enzo Biochem, a leader in biosciences and diagnostics, will announce its third quarter 2022 financial results on June 9, 2022, after market close. A conference call and webcasting session are scheduled for the same day at 4:30 PM ET. Investors can participate by calling specific numbers or joining the webcast through a provided link. Enzo Biochem focuses on innovative diagnostic technologies, supported by a strong intellectual property portfolio, to meet evolving healthcare needs. For more details, visit their official website.

Enzo Biochem announces the approval of its AMPIPROBE^® HPV test by the New York State Department of Health. This PCR-based test detects 14 high-risk HPV variants, enhancing the GenFlex® platform which already includes COVID-19 and other tests. The approval is crucial for advancing women's health diagnostics, as high-risk HPV is linked to cervical cancer. The CDC estimates 79 million Americans are currently infected with HPV, highlighting the test's importance in early detection and management.

Enzo Biochem successfully approved all proposals at its 2022 Annual Meeting of Shareholders, enhancing corporate governance and prioritizing shareholder initiatives. Key proposals included the de-classification of the board structure (99% approval), election of directors (98% approval), an advisory vote on executive compensation (71% approval), and ratification of the public accounting firm (99% approval). CEO Hamid Erfanian emphasized the positive outcome reflects management’s commitment to long-term shareholder value.

Enzo Biochem, Inc. (NYSE: ENZ) held its Annual Shareholder Meeting on March 31, 2022, with 89% of shares voted. While Proposals Two, Three, and Four passed, Proposal One, which requires an 80% majority, fell short with only 76% of shares represented. The meeting has been adjourned to April 8, 2022, to gather more votes for Proposal One, aimed at de-classifying the board and simplifying shareholder voting requirements. Enzo emphasizes its commitment to shareholder value and urges all shareholders to vote.

Enzo Biochem announced the adjournment of its 2021 Annual Meeting of Shareholders to April 8, 2022, to allow more time to solicit proxies for Proposal 1. This proposal involves de-classifying the staggered board structure, enabling all directors to be up for re-election annually. Additionally, the proposal requires majority approval for mergers, asset sales, and other significant corporate actions. Shareholders who have not voted are encouraged to do so by April 7, 2022. The meeting will resume virtually at 9 AM EDT.

Enzo Biochem (NYSE: ENZ) announces significant management changes, appointing Kara Cannon as Chief Operating Officer and David Bench as Chief Financial Officer, Senior Vice President, Treasurer, and Corporate Secretary. Enzo aims to bolster its executive team, seeking to add new roles in commercialization and regulatory affairs. The company's leadership highlights a focus on growth and market expansion, driven by enhanced leadership from within and external recruitment. Both Cannon and Bench have extensive experience in the industry, positioning Enzo for future success.

Enzo Biochem reported a strong second quarter with revenue of $34.0 million, marking a 28% sequential increase and 8% year-over-year growth. This is the highest quarterly revenue in the company’s history. Enzo Life Sciences revenue rose 39% year-over-year to $10.4 million, supported by regulatory approval for new molecular tests. The product margin improved to 49% from 40% in Q1 FY22. However, the net loss was $2.7 million, with SG&A expenses rising to $14.5 million. Enzo is focused on strategic growth, particularly in women's health and testing services.