- Enzo Life Sciences reports revenue of $7.5 million, with margin improvement in Q3 FY23
FARMINGDALE, NY, June 14, 2023 (GLOBE NEWSWIRE) -- Enzo Biochem, Inc. (NYSE:ENZ), a pioneering biosciences and diagnostics company, today filed its Form 10-Q for the third quarter ended April 30, 2023 of Fiscal Year 2023 (Q3 FY23). Enzo Biochem will not be hosting a financial webcast or call for this most recent quarterly reporting period.
As previously reported, on March 16, 2023, Enzo Biochem announced that Labcorp would purchase substantially all of the operating assets and certain liabilities of the Enzo Clinical Labs division. This acquisition was part of an effort to evaluate strategic initiatives for Enzo Biochem that was initiated in 2022, in collaboration with the investment bank Jefferies LLC. Enzo has obtained shareholder approval and met all regulatory requirements for closing the sale to Labcorp. Enzo’s Board of Directors is actively evaluating the use of sale proceeds, including, but not limited to, distribution to shareholders, and is also continuing its review of strategies to maximize the potential of its remaining assets.
Third Quarter 2023 Key Financial Results
About Enzo Biochem
Enzo Biochem is a pioneer in molecular diagnostics, leading the convergence of clinical laboratories, life sciences and intellectual property through the development of unique diagnostic platform technologies that provide numerous advantages over previous standards. A global company, Enzo Biochem utilizes cross-functional teams to develop and deploy products, systems and services that meet the ever-changing and rapidly growing needs of health care today and into the future. Underpinning Enzo Biochem’s products and technologies is a broad and deep intellectual property portfolio, with patent coverage across a number of key enabling technologies. For more information, please visit Enzo.com or follow Enzo Biochem on Twitter and LinkedIn.
Forward-Looking Statements
Except for historical information, the matters discussed in this release may be considered "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. Such statements include declarations regarding the intent, belief or current expectations of the Company and its management, including those related to cash flow, gross margins, revenues, and expenses which are dependent on a number of factors outside of the control of the Company including, inter alia, the markets for the Company’s products and services, costs of goods and services, other expenses, government regulations, litigation, and general business conditions. See Risk Factors in the Company’s Form 10-K for the fiscal year ended July 31, 2022. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties that could materially affect actual results. The Company disclaims any obligations to update any forward-looking statement as a result of developments occurring after the date of this release.
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Enzo Biochem Contacts | ||
For Enzo Biochem: | For Media: | For Investors: |
Patricia Eckert, Interim CFO 631-755-5500 peckert@enzo.com | Lynn Granito Berry & Company Public Relations 212-253-8881 lgranito@berrypr.com | Chris Calabrese LifeSci Advisors, LLC 917-680-5608 ccalabrese@lifesciadvisors.com |