Enzo Biochem, Inc. - ENZ STOCK NEWS

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.

Enzo Biochem (NYSE:ENZ) has scheduled a conference call and audio webcast for March 15, 2021, at 4:30 pm ET to discuss its second quarter 2021 financial results. The results will be released after the market closes on the same day. This event is part of the company's commitment to transparency and engagement with investors. Enzo Biochem specializes in molecular diagnostics, integrating clinical laboratories with life sciences, supported by a robust intellectual property portfolio.

Enzo Biochem has announced the issuance of U.S. Patent No. 10,899,827 for antibodies targeting sulfation sites of sclerostin, a key protein involved in bone growth regulation. This patent is part of a broader portfolio focusing on therapies for bone disorders like osteoporosis. With approximately 200 million globally affected by osteoporosis, the market for related treatments is projected to reach $10.9 billion by 2026. The CEO highlighted the therapeutic potential of these antibodies and small peptides derived from sclerostin to combat bone loss.

Enzo Biochem (NYSE:ENZ) announced the formation of two new board committees to enhance business strategy and leadership development. The Corporate Development Committee will explore M&A opportunities, while the Planning & Succession Committee aims to strengthen leadership roles and employee training. The company's recent performance showed a remarkable 47% year-over-year organic growth and approximately $1 million EBITDA, indicating a path toward full-year profitability. CEO Elazar Rabbani emphasized the importance of new talent and strategic guidance in achieving these goals.

Roumell Asset Management, holding 5.78% of Enzo Biochem, Inc. (NYSE: ENZ), announced preliminary results from the Annual Meeting on January 4, 2021. Dr. Rabbani received approximately 44% of votes in favor of re-election, with 56% against, requiring his resignation according to Company bylaws. Roumell also highlighted an overwhelming shareholder response against Dr. Rabbani's re-election and criticized the Company for not accepting their proxies or answering shareholder questions during the meeting. Roumell demands clarity and a meeting with independent directors to discuss the results.