Enzo Biochem Announces Notification to New York Stock Exchange of Intention to Voluntarily Delist Common Stock and Transfer Trading of Shares to OTCQX
Enzo Biochem (NYSE: ENZ) has announced its intention to voluntarily delist from the New York Stock Exchange and transfer to the OTCQX Best Market. The decision follows NYSE's notice of non-compliance with continued listing standards regarding market capitalization, stockholder's equity, and average closing stock price.
The delisting is expected to become effective around April 17, 2025, with OTCQX trading anticipated to commence on April 18, 2025. Shareholders will not need to exchange shares, and electronic trading should continue without material disruption. The company will maintain its SEC periodic reporting requirements.
Enzo Biochem operates through its Life Sciences division, focusing on labeling and detection technologies from DNA to whole cell analysis, offering products including antibodies, genomic probes, assays, biochemicals, and proteins.
Enzo Biochem (NYSE: ENZ) ha annunciato la sua intenzione di dismettere volontariamente la quotazione alla Borsa di New York e di trasferirsi al OTCQX Best Market. La decisione segue la comunicazione della NYSE riguardo alla non conformità agli standard di quotazione continuativa in merito alla capitalizzazione di mercato, all'equità degli azionisti e al prezzo medio di chiusura delle azioni.
La dismissione dovrebbe diventare effettiva intorno al 17 aprile 2025, con l'inizio delle negoziazioni su OTCQX previsto per il 18 aprile 2025. Gli azionisti non dovranno scambiare le azioni e il trading elettronico dovrebbe continuare senza interruzioni significative. L'azienda manterrà i requisiti di reporting periodico SEC.
Enzo Biochem opera attraverso la sua divisione Life Sciences, concentrandosi su tecnologie di etichettatura e rilevamento, dall'analisi del DNA all'analisi delle cellule intere, offrendo prodotti tra cui anticorpi, sonde genomiche, saggi, biochimici e proteine.
Enzo Biochem (NYSE: ENZ) ha anunciado su intención de deslistar voluntariamente de la Bolsa de Nueva York y transferirse al OTCQX Best Market. La decisión sigue el aviso de la NYSE sobre el incumplimiento de los estándares de cotización continua en relación con la capitalización de mercado, el patrimonio de los accionistas y el precio medio de cierre de las acciones.
Se espera que el deslistado se haga efectivo alrededor del 17 de abril de 2025, con el comercio en OTCQX anticipado para comenzar el 18 de abril de 2025. Los accionistas no necesitarán intercambiar acciones, y el comercio electrónico debería continuar sin interrupciones significativas. La empresa mantendrá sus requisitos de informes periódicos ante la SEC.
Enzo Biochem opera a través de su división de Ciencias de la Vida, enfocándose en tecnologías de etiquetado y detección, desde el análisis de ADN hasta el análisis de células enteras, ofreciendo productos que incluyen anticuerpos, sondas genómicas, ensayos, bioquímicos y proteínas.
Enzo Biochem (NYSE: ENZ)는 뉴욕 증권 거래소에서 자발적으로 상장 폐지하고 OTCQX Best Market으로 이전할 계획을 발표했습니다. 이 결정은 NYSE의 시장 자본화, 주주 자본 및 평균 종가와 관련된 지속적인 상장 기준 미준수 통지에 따른 것입니다.
상장 폐지는 2025년 4월 17일경에 효력이 발생할 것으로 예상되며, OTCQX에서의 거래는 2025년 4월 18일부터 시작될 것으로 보입니다. 주주들은 주식을 교환할 필요가 없으며 전자 거래는 큰 중단 없이 계속될 것으로 예상됩니다. 회사는 SEC의 정기 보고 요구 사항을 유지할 것입니다.
Enzo Biochem은 생명 과학 부서를 통해 운영되며, DNA에서 전체 세포 분석까지의 라벨링 및 탐지 기술에 중점을 두고 있으며, 항체, 유전체 탐침, 분석, 생화학 물질 및 단백질과 같은 제품을 제공합니다.
Enzo Biochem (NYSE: ENZ) a annoncé son intention de se retirer volontairement de la Bourse de New York et de se transférer au OTCQX Best Market. Cette décision fait suite à l'avis de la NYSE concernant le non-respect des normes de cotation continue relatives à la capitalisation boursière, aux capitaux propres des actionnaires et au prix moyen de clôture des actions.
Le retrait devrait entrer en vigueur aux alentours du 17 avril 2025, avec le début des transactions sur OTCQX prévu pour le 18 avril 2025. Les actionnaires n'auront pas besoin d'échanger leurs actions, et le commerce électronique devrait se poursuivre sans interruption significative. L'entreprise continuera de respecter ses obligations de reporting périodique auprès de la SEC.
Enzo Biochem opère par le biais de sa division des sciences de la vie, se concentrant sur les technologies d'étiquetage et de détection, de l'analyse de l'ADN à l'analyse des cellules entières, offrant des produits tels que des anticorps, des sondes génomiques, des tests, des biochimiques et des protéines.
Enzo Biochem (NYSE: ENZ) hat seine Absicht angekündigt, freiwillig von der New Yorker Börse abzutreten und zum OTCQX Best Market zu wechseln. Diese Entscheidung folgt auf die Mitteilung der NYSE über die Nichteinhaltung der fortlaufenden Listungsstandards bezüglich der Marktkapitalisierung, des Eigenkapitals der Aktionäre und des durchschnittlichen Schlusskurses der Aktien.
Die Abmeldung wird voraussichtlich um den 17. April 2025 wirksam, mit dem Handelsbeginn auf OTCQX, der für den 18. April 2025 erwartet wird. Die Aktionäre müssen keine Aktien tauschen, und der elektronische Handel sollte ohne wesentliche Unterbrechungen fortgesetzt werden. Das Unternehmen wird weiterhin die regelmäßigen Berichtspflichten der SEC einhalten.
Enzo Biochem operiert über seine Abteilung für Lebenswissenschaften und konzentriert sich auf Etikettierungs- und Nachweistechnologien von DNA bis hin zur Analyse ganzer Zellen, wobei Produkte wie Antikörper, genomische Sonden, Assays, Biochemikalien und Proteine angeboten werden.
- Company maintains SEC reporting requirements, ensuring continued transparency
- Trading will continue seamlessly on OTCQX without disruption to shareholders
- No share exchange required for existing shareholders
- Delisting from NYSE due to non-compliance with listing standards
- Failed to meet NYSE requirements for market capitalization
- Failed to meet NYSE requirements for stockholder's equity
- Failed to meet NYSE requirements for average closing stock price
- Moving to less prestigious OTCQX market may reduce stock visibility and liquidity
Insights
Enzo Biochem's planned delisting from the NYSE represents a significant negative development that will likely impact both market perception and trading dynamics. This move comes after the company failed to meet multiple NYSE listing requirements regarding market capitalization, stockholder's equity, and average closing price.
With a micro-cap status of just
While the OTCQX is the highest tier of OTC markets with more stringent standards than other OTC venues, it lacks the prestige and visibility of the NYSE. The company emphasizes continued SEC reporting requirements and electronic trading continuity, but these assurances don't address the fundamental financial challenges that necessitated this change.
For existing shareholders, this represents a material change in investment profile. Companies moving from major exchanges to OTC markets frequently experience further trading challenges and reduced access to capital markets. The relatively quick timeline - with delisting effective around April 17 and OTCQX trading beginning April 18 - gives shareholders time to evaluate positions before this transition occurs.
Rather than pursuing alternatives to maintain NYSE compliance, management and the board have chosen what appears to be the path of least resistance, potentially reflecting concerns about their ability to meaningfully improve their financial metrics in the near term.
FARMINGDALE, N.Y., March 28, 2025 (GLOBE NEWSWIRE) -- Enzo Biochem, Inc. (NYSE: ENZ) (“Enzo” or the “Company”) today announced its intention to voluntarily delist its common stock from The New York Stock Exchange (“NYSE”) and to have its common stock quoted on the OTCQX Best Market (“OTCQX”).
Enzo provided notice of the voluntary delisting to the NYSE on March 28, 2025 and intends to timely file a notification of removal from listing on Form 25 with the Securities and Exchange Commission (the “SEC”) to effect the delisting. It is anticipated that the delisting will become effective on or about April 17, 2025, with trading on OTCQX to commence on or about April 18, 2025.
This announcement follows the Company’s previously disclosed receipt of a notice from the NYSE that the Company is not in compliance with the NYSE’s continued listing standards with respect to market capitalization, stockholder’s equity and average closing stock price. The Company considered available alternatives to cure the deficiencies identified by the NYSE, and the Company’s Board of Directors has determined to voluntarily delist the Company’s common stock from the NYSE and transfer trading of the common stock to the OTCQX at this time rather than continuing activity with the NYSE’s listing requirements.
The Company has made an application to have its common stock quoted on the OTCQX and expects that the common stock will be quoted on the OTCQX on the next trading day after NYSE trading is no longer available, anticipated to be on or about April 18, 2025, subject to the approval of the OTCQX.
The Company will remain subject to the periodic reporting requirements of the Securities Exchange Act of 1934, as amended, following the delisting of its common stock from the NYSE. Shareholders will not be required to exchange any shares, and the Company expects electronic trading to be available without any material disruption.
About Enzo Biochem
Enzo Biochem, Inc. has operated as a life sciences company for over 45 years. The primary business of Enzo today is conducted through its Life Sciences division, Enzo Life Sciences, which focuses on labeling and detection technologies from DNA to whole cell analysis, including a comprehensive portfolio of thousands of high-quality products, including antibodies, genomic probes, assays, biochemicals, and proteins. The Company’s proprietary products and technologies play central roles in translational research and drug development areas, including cell biology, genomics, assays, immunohistochemistry, and small molecule chemistry. The Company monetizes its technology primarily via sales through our global distribution network and licensing. For more information, please visit enzo.com or follow Enzo Biochem on X and LinkedIn.
Forward-Looking Statements
This press release contains “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements about the delisting of the Company’s common stock and the future quotation of the Company’s common stock on the OTCQX and the timing thereof. In some cases, you can identify forward-looking statements by terms such as “expect,” “anticipate,” “continue,” “plan,” “intend,” “will,” or “typically,” or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words, and the use of future dates. Each forward-looking statement is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statement. Applicable risks and uncertainties include, but are not limited to risks associated with the delisting of the Company’s common stock from the NYSE, its application to the OTCQX, the timing of such actions and their effect on the trading or price of the Company’s common stock, and the other risks and uncertainties included under the heading “Risk Factors” in Enzo’s Annual Report on Form 10-K for the fiscal year ended July 31, 2024, and in its subsequent filings with the SEC. The forward-looking statements contained in this press release reflect Enzo’s views as of the date hereof, and Enzo does not assume and specifically disclaims any obligation to update any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
| Enzo Biochem Contacts |
| For Enzo Biochem: |
| Patricia Eckert, Chief Financial Officer Enzo Biochem 631-755-5500 peckert@enzo.com |
FAQ
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