Enzo Biochem Inc Stock Price, News & Analysis

Enzo Biochem (NYSE:ENZ) has expanded its FDA Emergency Use Authorization (EUA) for a rapid extraction method on its proprietary SARS-CoV-2 test system. This advancement reduces testing time by over one hour, enhancing throughput significantly. The method is compatible with various platforms, including Enzo's GENFLEX® system. Enzo's tests can identify emerging SARS-CoV-2 variants like Delta and Lambda, meeting rising testing demands. The company emphasizes its integrated business model, allowing quick adaptation to diagnostics needs during the COVID-19 pandemic.

Enzo Biochem (NYSE:ENZ) has partnered with CLX Health to provide rapid COVID-19 PCR testing for international travelers in New York and New Jersey. The TrustAssure™ Global Testing Platform enables online scheduling of tests with results delivered before travel. This collaboration enhances convenience for travelers, providing access to Enzo's testing sites and compliance notifications for airlines. The demand for PCR testing has shifted as international travel resumes, emphasizing the need for quick and reliable availability of test results.

Enzo Biochem reported a record third-quarter revenue of $32.8 million, marking a 94% increase year-over-year. The gross margin improved to 49% from 26%, showcasing enhanced profitability. The company achieved its third consecutive quarter of positive earnings with an EPS of $0.04, compared to a loss of ($0.21) a year prior. Adjusted EBITDA reached $2.7 million. Enzo's operational strategies have yielded an operating profit of $2.0 million, a significant turnaround from a $9.7 million loss in Q3 2020.

Enzo Biochem (NYSE:ENZ) has announced that it will report its third quarter 2021 financial results on June 9, 2021, after market close. The company will host a live audio webcast and conference call at 4:30 pm ET to discuss the results. Enzo Biochem specializes in molecular diagnostics and utilizes advanced technologies to meet growing healthcare demands. The company has a strong intellectual property portfolio that supports its innovative diagnostic platforms.

Enzo Biochem has received FDA clearance for its AMPICOLLECT™ Sample Collection kit, now authorized for COVID-19 testing under Emergency Use Authorization. The kit can be utilized with various testing platforms, including Enzo's GENFLEX® molecular diagnostic platform. This development highlights the company's integrated approach in diagnostics, addressing challenges during the pandemic, such as supply shortages. The AMPICOLLECT™ kit is part of Enzo's broader strategy to provide comprehensive diagnostic solutions and underscores its commitment to innovation and efficiency in clinical testing.

Enzo Biochem (NYSE:ENZ) will participate in the KeyBanc Capital Markets' Life Sciences & MedTech Investor Forum on March 23rd at 10:45 am ET. Barry Weiner, President, and David Bench, CFO, will also hold virtual one-on-one meetings on March 23rd and 24th. Interested parties can contact their KeyBanc representatives for arrangements. The presentation will be live-streamed, accessible via the provided webcast link. Enzo Biochem is recognized for its innovative molecular diagnostics and diagnostic platform technologies.

Enzo Biochem reported a strong Q2 2021 with total revenue of $31.5 million, a 62% increase year-over-year, and clinical laboratory revenue up 92% to $24.0 million. The consolidated gross margin improved to 50%, a 2000 basis points year-over-year increase. Adjusted EBITDA reached $4.3 million, with EPS of $0.05, contrasting a loss of ($0.16) in Q2 2020. CEO Dr. Elazar Rabbani will transition to a scientific role, and Gary Huff was appointed as Strategic Consultant. The company is focused on growth in molecular diagnostics, leveraging its proprietary GENFLEX™ platform.

Enzo Biochem, Inc. (NYSE:ENZ) will present at the H.C. Wainwright Global Life Sciences Conference on March 9-10, 2021. The presentation will be available on-demand starting at 7 a.m. EST on March 9, 2021. A replay will be accessible via the 'News & Events' section of the Enzo Biochem website post-conference. Enzo Biochem is a pioneer in molecular diagnostics and offers advanced diagnostic platform technologies. Their broad intellectual property portfolio supports their innovative products and services in the rapidly growing healthcare sector.

Enzo Biochem (NYSE:ENZ) announced that its GENFLEX™ molecular diagnostic platform successfully detects current COVID-19 variants, aligning with new FDA guidelines for assessing the impact of viral mutations on test results. The platform, while not distinguishing variants directly, allows for further analysis of positive samples. Enzo's new white paper critiques the U.S. diagnostics sector's response to COVID-19, identifying key challenges and proposing structural changes to improve future pandemic readiness. The study emphasizes the need for better testing technology to effectively manage emerging variants.