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Enzo Biochem, Inc. - ENZ STOCK NEWS

Welcome to our dedicated page for Enzo Biochem news (Ticker: ENZ), a resource for investors and traders seeking the latest updates and insights on Enzo Biochem stock.

Enzo Biochem, Inc. (NYSE: ENZ) is a bioscience company headquartered in Farmingdale, New York. It specializes in manufacturing, developing, and selling proprietary solutions and platforms to clinical laboratories, specialty clinics, researchers, and physicians worldwide. Enzo Biochem’s core operations are divided into three segments: Enzo Clinical Labs, Enzo Life Sciences, and Enzo Therapeutics. The company's primary revenue driver is its Clinical Labs segment.

Enzo Biochem has established itself as a pioneer in molecular diagnostics and has built a comprehensive portfolio of products, including antibodies, genomic probes, assays, biochemicals, and proteins. The company's products play crucial roles in biomedical research and drug development, addressing needs in cell biology, genomics, immunohistochemistry, and small molecule chemistry.

In recent developments, Enzo Biochem reported revenues of $7.5 million in its Life Sciences division for Q3 FY23, with notable margin improvements. The company also completed the sale of substantially all operating assets of its Enzo Clinical Labs division to Labcorp for $113.25 million. This strategic move, approved by shareholders and regulatory authorities, aims to maximize the potential of Enzo's remaining assets and may include distributions to shareholders.

Recently, Enzo Biochem announced a return to revenue growth in its Life Sciences division, driven by its technological innovations and market focus. The company's latest product offerings, such as the Life Science Validation service and AMPIVIEW™ RNA probes, demonstrate its commitment to delivering technically relevant products that meet the demands of drug development clients.

Enzo Biochem is also recognized for its extensive intellectual property portfolio, with patents covering key enabling technologies. The company's cross-functional teams work collaboratively to develop and deploy products that meet the rapidly evolving needs of the healthcare sector.

For over 45 years, Enzo Biochem has been at the forefront of innovation and product development, supporting academic research centers and industry partners globally. With a consistent focus on revenue growth, margin improvement, and cost containment, Enzo Biochem continues to shape the future of healthcare.

For more information, please visit Enzo.com or follow Enzo Biochem on social media platforms like Twitter and LinkedIn.

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Enzo Biochem (NYSE: ENZ) has reported its fiscal first quarter 2024 results, highlighting a challenging period with revenue declining 20% year-over-year to $6.2 million, primarily due to reduced market demand in the life sciences tools sector. The company maintained a strong cash position of $47.7 million and improved its cash management, reducing operating cash usage by $4.4 million compared to the previous year.

The company recently paid a special cash dividend of $0.10 per share on December 2, 2024, and appointed Jon Couchman, Managing Member of Couchman Management , to its board of directors and various committees effective November 22, 2024.

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Enzo Biochem (ENZ) reported financial results for fiscal year 2024, showing revenue growth of 3% to $31.9 million. The company's industrial customer sales increased 46%, driven by drug development and cell therapy focus. Gross margin improved to 46% from 37% last year. Net loss from continuing operations was $9.8 million ($0.19 per share), compared to $25.0 million loss prior year. The company ended Q4 with $52.4 million in cash and announced a $0.10 per share cash dividend payable December 2, 2024. Q4 revenue declined 16% to $7.5 million due to ordering pattern shifts.

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Enzo Biochem reported its Q3 FY24 results, showing positive developments in revenue and margins. The Life Science division's revenue increased by 7% year-over-year to $8.0 million, marking four consecutive quarters of growth. Year-to-date revenue for the division was up 10% to $24.4 million. Gross margins improved by 700 basis points to 47% in Q3, driven by revenue increases and cost containment efforts. The division reported a small operating income of $0.3 million, reversing a loss from the previous year. However, the net loss from continuing operations was $2.1 million, and the overall net loss was $3.0 million, though improved from last year's larger losses. Enzo ended the quarter with $57.2 million in cash and a current ratio of 3.5. Recent events include the complete payment of $3.6 million in debentures and the launch of an enhanced e-commerce website. CEO Kara Cannon highlighted the company’s focus on Life Science tools and expects continued growth and improved margins.

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Enzo Biochem, Inc. (ENZ) reports a strong second quarter with revenue growth, improved gross margins, and increased net income. The Life Science division saw a 14% revenue increase, driven by a 25% growth in the United States. The company ended the quarter with $60.2 million in cash and cash equivalents.
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Enzo Biochem, Inc. announced the voting results from its Annual Meeting, including the election of new Board of Directors members, the non-approval of executive officers' compensation, and the ratification of the appointment of an independent registered public accounting firm. Additionally, Kara Cannon and Patricia Eckert were appointed as permanent Chief Executive Officer and Chief Financial Officer, respectively.
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Enzo Biochem, Inc. (NYSE: ENZ) announced a 10% year-over-year revenue improvement in its Life Sciences division for the first quarter ended October 31, 2023. The gross margin increased by approximately 900 basis points, and working capital improved to $59.2 million. However, the net loss was $6.6 million, and SG&A expenses increased by $1.4 million year-over-year. The company aims to drive future growth and increase shareholder value through new products and strengthened service offerings.
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Enzo Biochem, Inc. announced financial results for Q4 2023 and FY 2023. They closed the sale of assets for $113.3 million, divesting their clinical laboratory operations. Enzo Life Sciences' Q4 revenue increased by 20% sequentially and 13% YoY. Gross margin improved to 53.3% (excluding inventory provision). Cash and cash equivalents increased to $83.4 million. Full-year highlights include increased revenues in the US market and improved margin to 42.5%. Net income for FY23 was $20.3 million. Steven J. Pully was appointed Chairman of the Board, and Kara Cannon became Interim CEO.
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Enzo Biochem, Inc. appoints Steven J. Pully as Chairperson of the Board and Chair of the Audit Committee. Pully brings legal, corporate governance, and financial skills to facilitate the company's growth strategy. He is a partner at Speyside Partners and serves on the boards of various companies. Pully's experience spans multiple industries and he will play a central role in Enzo's future growth.
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Enzo Biochem CEO resigns, COO becomes interim CEO
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Enzo Biochem has completed the sale of certain assets of Enzo's Clinical laboratory division to Laboratory Corporation of America Holdings (Labcorp) for a purchase price of $113,250,000 in cash. Enzo Biochem will cease its clinical laboratory operations as a result of this transaction.
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FAQ

What is the current stock price of Enzo Biochem (ENZ)?

The current stock price of Enzo Biochem (ENZ) is $0.736 as of January 3, 2025.

What is the market cap of Enzo Biochem (ENZ)?

The market cap of Enzo Biochem (ENZ) is approximately 37.7M.

What does Enzo Biochem, Inc. specialize in?

Enzo Biochem, Inc. specializes in manufacturing, developing, and selling proprietary solutions and platforms to clinical laboratories, specialty clinics, researchers, and physicians worldwide.

What are the main segments of Enzo Biochem, Inc.?

The company operates through three main segments: Enzo Clinical Labs, Enzo Life Sciences, and Enzo Therapeutics.

What recent financial performance has Enzo Biochem, Inc. reported?

In Q3 FY23, Enzo Biochem's Life Sciences division reported revenues of $7.5 million with notable margin improvements.

What strategic move did Enzo Biochem, Inc. recently undertake?

Enzo Biochem completed the sale of substantially all operating assets of its Enzo Clinical Labs division to Labcorp for $113.25 million.

What are some of the latest products from Enzo Biochem, Inc.?

Recent products include the Life Science Validation service and AMPIVIEW™ RNA probes.

How long has Enzo Biochem, Inc. been in operation?

Enzo Biochem, Inc. has been in operation for over 45 years.

What is the focus of Enzo Biochem's Life Sciences division?

The Life Sciences division focuses on supporting biomedical research and drug development through products like antibodies, genomic probes, and biochemicals.

Who are the newly appointed officers at Enzo Biochem?

Kara Cannon has been appointed as Chief Executive Officer, and Patricia Eckert as Chief Financial Officer.

Where is Enzo Biochem, Inc. headquartered?

The company is headquartered in Farmingdale, New York.

How can I learn more about Enzo Biochem, Inc.?

For more information, visit Enzo's website at www.enzo.com or follow them on Twitter and LinkedIn.
Enzo Biochem, Inc.

NYSE:ENZ

ENZ Rankings

ENZ Stock Data

37.67M
40.88M
21.57%
31.79%
0.81%
Diagnostics & Research
Services-medical Laboratories
Link
United States of America
FARMINGDALE