FARMINGDALE, N.Y., March 13, 2024 (GLOBE NEWSWIRE) -- Enzo Biochem, Inc. (NYSE:ENZ) ("Enzo" or the "Company") today announced financial results for the second quarter ended January 31, 2024. Second Quarter Highlights The Company's Life Science division's second-quarter revenue of $8.5 million improved year-over-year by 14%. During the 2024 period, we experienced a 25% revenue increase in the United States, driven by increased product demand in the drug development and cell and gene therapy market segments. ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ENZO BIOCHEM, INC. (Exact name of registrant as specified in its charter) (State or Other Jurisdiction of (IRS. Employer Incorporation or Organization) Identification No.) 81 Executive Blvd. Suite 3 Farmingdale, New York 11735 (Address of Principal Executive office) (Zip Code) Mark one ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended January 31, 2024 or ☐ ...

[Enzo Biochem Q2 Fiscal 2024 Financial Results](index=1&type=section&id=Enzo%20Biochem%20Q2%20Fiscal%202024%20Financial%20Results) [Second Quarter Highlights and Business Update](index=1&type=section&id=Second%20Quarter%20Highlights%20and%20Business%20Update) The Life Science division drove strong Q2 performance with double-digit revenue growth and significant margin expansion - The company's strategy focuses on delivering sustainable, profitable revenue growth through market focus, technical strength, and operational conservatism[3](index=3&type=chunk) - The Life Science division's revenue growth was primarily driven by a **25% increase in the United States**, fueled by higher product demand in the drug development and cell and gene therapy market segments[4](index=4&type=chunk) Q2 FY2024 Key Performance Highlights (YoY) | Metric | Q2 FY2024 | Q2 FY2023 | Change | | :--- | :--- | :--- | :--- | | Life Science Division Revenue | $8.5 million | - | +14% | | Life Science Division Gross Margin | 49% | 39% | +1,000 bps | | Life Science Division Net Income | $1.1 million | $0.2 million | +$0.9 million | | Net Loss from Continuing Operations | ($0.9) million | ($2.9) million | Improved by $2.0 million | | Net Loss (Continuing & Discontinued) | ($3.1) million | ($11.3) million | Improved by $8.2 million | | Cash and Cash Equivalents (as of Jan 31, 2024) | $60.2 million | - | - | [Financial Performance](index=3&type=section&id=Financial%20Performance) The company presents detailed consolidated financial results and a reconciliation of GAAP to non-GAAP measures [Consolidated Financial Results](index=3&type=section&id=Consolidated%20Financial%20Results) Q2 results show increased revenue, significantly improved gross margin, and a narrowed net loss from continuing operations Selected Operations Data (in thousands) | Metric | Three Months Ended Jan 31, 2024 | Three Months Ended Jan 31, 2023 | Six Months Ended Jan 31, 2024 | Six Months Ended Jan 31, 2023 | | :--- | :--- | :--- | :--- | :--- | | Revenues | $8,553 | $7,514 | $16,359 | $14,617 | | Gross profit | $4,224 | $2,898 | $7,679 | $5,412 | | Gross profit % | 49% | 39% | 47% | 37% | | Net loss from continuing operations | ($863) | ($2,892) | ($6,538) | ($8,245) | | Total net loss | ($3,061) | ($11,320) | ($9,677) | ($21,955) | | Total net loss per share | ($0.06) | ($0.23) | ($0.19) | ($0.45) | Selected Balance Sheet Data (in thousands) | Metric | Jan 31, 2024 (unaudited) | Jul 31, 2023 (unaudited) | | :--- | :--- | :--- | | Cash and cash equivalents | $60,241 | $83,373 | | Working capital | $55,637 | $58,467 | | Stockholders' equity | $70,775 | $78,462 | | Total assets | $99,077 | $121,880 | [Non-GAAP Financial Measures Reconciliation](index=4&type=section&id=Non-GAAP%20Financial%20Measures%20Reconciliation) Reconciliation from GAAP to non-GAAP measures reveals significant improvements in Adjusted Net Income and Adjusted EBITDA - The company presents non-GAAP measures like Adjusted Net Income and Adjusted EBITDA to provide useful additional information to investors by excluding non-recurring items[7](index=7&type=chunk)[8](index=8&type=chunk) Adjusted Net Income (Loss) Reconciliation - Q2 (in thousands) | Metric | Q2 FY2024 | Q2 FY2023 | | :--- | :--- | :--- | | Reported GAAP net loss | $(3,061) | $(11,320) | | Discontinued operations loss | $2,198 | $8,428 | | Other Adjustments | $1,065 | $1,915 | | **Adjusted net income (loss)** | **$202** | **$(977)** | Adjusted EBITDA Reconciliation - Q2 (in thousands) | Metric | Q2 FY2024 | Q2 FY2023 | | :--- | :--- | :--- | | GAAP net loss | $(3,061) | $(11,320) | | Plus: Depreciation & Amortization | $267 | $262 | | Plus (minus): Interest income, net | $(893) | $(63) | | **EBITDA** | **$(3,687)** | **$(11,121)** | | Other Adjustments | $2,570 | $8,871 | | **Adjusted EBITDA** | **$(1,117)** | **$(2,250)** | [Company Overview and Forward-Looking Statements](index=2&type=section&id=Company%20Overview%20and%20Forward-Looking%20Statements) The company operates as a pioneer in molecular diagnostics and cautions investors about forward-looking statements - Enzo Biochem provides a wide range of high-quality products crucial for research and drug development in areas like cell biology and genomics[5](index=5&type=chunk) - The report contains forward-looking statements, and investors are warned that actual results could differ materially due to various factors[6](index=6&type=chunk)

FARMINGDALE, NY, Feb. 01, 2024 (GLOBE NEWSWIRE) -- Enzo Biochem, Inc. (NYSE:ENZ) ("Enzo" or the "Company"), a leading life science company, announced the voting results from its Annual Meeting held on January 31, 2024 and officer appointments. Summary of the Fiscal Year 2023 Annual Shareholder Meeting Proposals Proposal One – The shareholders elected Kara Cannon, Steven J. Pully, Bradley L. Radoff, and Mary Tagliaferri, M.D. to the Company's Board of Directors to hold office for a term ending as of our Fisc ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Mark one ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________________ to ___________________ Commission File Number 001-09974 ENZO BIOCHEM, INC. (Exact name of registrant as specified in its charter) New York ...

Part I [Business](index=4&type=section&id=Item%201.%20Business) Enzo Biochem transitioned to a life sciences 'Products' segment, leveraging its IP, and addressing a significant 2023 ransomware data breach - In July 2023, the company sold its Enzo Clinical Labs assets for **$113.25 million**, shifting focus to the life sciences segment[12](index=12&type=chunk) - Post-divestiture, the company operates a single 'Products' segment, manufacturing tools for clinical and bioscience research[13](index=13&type=chunk)[14](index=14&type=chunk) Products Segment Revenue | Fiscal Year | Revenue (in millions) | | :--- | :--- | | 2023 | $31.1 | | 2022 | $32.6 | - The company possesses a significant intellectual property portfolio with **457 owned patents** and **59 pending applications** globally[11](index=11&type=chunk)[25](index=25&type=chunk) - An April 2023 ransomware attack led to unauthorized access of clinical test information for approximately **2.47 million individuals**, including **600,000 Social Security numbers**[51](index=51&type=chunk)[76](index=76&type=chunk) Research and Development Expenses | Fiscal Year | R&D Costs (in millions) | | :--- | :--- | | 2023 | $3.9 | | 2022 | $2.4 | [Risk Factors](index=16&type=section&id=Item%201A.%20Risk%20Factors) The company faces significant risks including a material weakness in internal controls due to a 2023 ransomware attack, litigation, funding dependency, intense competition, and IP protection challenges - Management identified a **material weakness in internal control over financial reporting** as of April 30, 2023, potentially leading to material financial misstatements[84](index=84&type=chunk)[85](index=85&type=chunk) - The April 2023 ransomware attack poses significant risks including service disruption, data loss, increased costs, regulatory scrutiny, and class action litigation[116](index=116&type=chunk)[117](index=117&type=chunk)[118](index=118&type=chunk) - Product revenues are significantly dependent on government grants and pharmaceutical R&D funding, exposing the business to spending fluctuations[88](index=88&type=chunk)[89](index=89&type=chunk) - Intense competition from larger, better-resourced firms could lead to price reductions, product obsolescence, and reduced revenues[93](index=93&type=chunk) - The company incurred significant losses from continuing operations, with a net loss before taxes of **$25.0 million in FY 2023** and **$20.3 million in FY 2022**[113](index=113&type=chunk) - International operations, representing approximately **40% of FY 2023 revenues**, expose the company to foreign currency, political, economic, and legal risks[129](index=129&type=chunk) [Unresolved Staff Comments](index=29&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments) The company reports no unresolved staff comments from the SEC - None[142](index=142&type=chunk) [Properties](index=29&type=section&id=Item%202.%20Properties) The company's principal facilities in Farmingdale, NY, New York, NY, and Lausen, Switzerland, support manufacturing, research, sales, and administration Principal Facilities | Location | Primary Use | Ownership | | :--- | :--- | :--- | | Farmingdale, NY | Manufacturing, research, sales, admin | Owned (2 facilities) | | Farmingdale, NY | Corporate headquarters | Leased | | New York, NY | Administrative office | Leased | | Lausen, Switzerland | European operational headquarters | Leased | [Legal Proceedings](index=30&type=section&id=Item%203.%20Legal%20Proceedings) Enzo Biochem faces multiple legal challenges including regulatory inquiries, class-action lawsuits from a 2023 data breach, patent infringement, and executive disputes - The company faces regulatory inquiries and multiple class-action lawsuits related to the April 2023 ransomware and data breach incident[146](index=146&type=chunk)[147](index=147&type=chunk) - A financial contingency provision for data breach litigation has been made, though actual exposure may vary[150](index=150&type=chunk) - The company is defending a lawsuit by former CEO Elazar Rabbani alleging breach of fiduciary duty and corporate waste[151](index=151&type=chunk) - One patent infringement case against Becton Dickinson regarding the '197 patent remains pending and is currently stayed[153](index=153&type=chunk) - The company is in stayed arbitration with its former CEO, Dr Rabbani, concerning termination benefits and bonus claims[160](index=160&type=chunk) [Mine Safety Disclosures](index=32&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable[163](index=163&type=chunk) Part II [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=33&type=section&id=Item%205.%20Market%20for%20Registrant%27s%20Common%20Equity%2C%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) The company's common stock trades on the NYSE under ENZ, with no cash dividends paid or anticipated, as earnings are retained for business financing - The company's common stock trades on the NYSE under the symbol **ENZ**[165](index=165&type=chunk) - The company does not pay cash dividends and plans to retain earnings for operational financing[166](index=166&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=33&type=section&id=Item%207.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) FY2023 continuing operations saw a 5% revenue decrease to **$31.1 million** and a widened operating loss to **$24.7 million**, while cash significantly improved to **$83.4 million** due to the **$113.25 million** clinical labs sale - The company sold its Enzo Clinical Labs assets for **$113.25 million** in cash, classifying the clinical services business as discontinued operations for FY2023 and FY2022[170](index=170&type=chunk) Financial Performance from Continuing Operations (FY 2023 vs. FY 2022) | Metric | FY 2023 (in millions) | FY 2022 (in millions) | Change | | :--- | :--- | :--- | :--- | | Revenues | $31.1 | $32.6 | -5% | | Gross Profit Margin | 42% | 41% | +1 ppt | | Operating Loss | $(24.7) | $(17.0) | -45% | | Loss Before Income Taxes | $(25.0) | $(20.3) | -23% | - SG&A expenses increased by **$4.1 million (18%)** to **$27.2 million**, driven by professional fees, severance, and share-based compensation[185](index=185&type=chunk) - Cash and cash equivalents increased by **$60.8 million** to **$83.4 million** at year-end, primarily from clinical labs sale proceeds[192](index=192&type=chunk) - In May 2023, the company issued **$7.6 million** in 10% convertible debentures and warrants, receiving **$7.0 million** cash, with **$4.0 million** prepaid by July 31, 2023[176](index=176&type=chunk)[199](index=199&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=40&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This item is not applicable to the company - Not applicable[216](index=216&type=chunk) [Financial Statements and Supplementary Data](index=40&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) This section refers to detailed financial statements and supplementary data provided elsewhere in the report, as specified in Item 15 - The response to this item is submitted in a separate section of this report, see Item 15(a) (1) and (2)[217](index=217&type=chunk) [Changes in and Disagreements with Accountants on Accounting and Financial Disclosure](index=40&type=section&id=Item%209.%20Changes%20in%20and%20Disagreements%20with%20Accountants%20on%20Accounting%20and%20Financial%20Disclosure) The company reports no changes in or disagreements with its accountants on accounting and financial disclosure - None[218](index=218&type=chunk) [Controls and Procedures](index=41&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management concluded the company's disclosure controls and procedures were ineffective as of July 31, 2023, due to a material weakness from the April 2023 ransomware attack - The principal executive and financial officers concluded that disclosure controls and procedures were **not effective** as of July 31, 2023[220](index=220&type=chunk) - A material weakness in internal control over financial reporting was identified due to the April 2023 ransomware attack, which interrupted systems and impaired control testing[225](index=225&type=chunk)[226](index=226&type=chunk)[227](index=227&type=chunk) - Management's COSO-based assessment concluded internal control over financial reporting was **not effective** as of July 31, 2023, due to unavailable data for testing in the fourth quarter[228](index=228&type=chunk) [Other Information](index=43&type=section&id=Item%209B.%20Other%20Information) The company reports no other information for this item - None[230](index=230&type=chunk) Part III [Directors, Executive Officers, Corporate Governance, Executive Compensation, and Other Matters](index=43&type=section&id=Item%2010-14) Information for Items 10-14, covering governance, compensation, and related matters, is incorporated by reference from the company's definitive proxy statement - Information for Items 10, 11, 12, 13, and 14 is incorporated by reference from the company's proxy statement, expected to be filed on or before November 28, 2023[230](index=230&type=chunk)[231](index=231&type=chunk)[232](index=232&type=chunk)[233](index=233&type=chunk)[234](index=234&type=chunk) Part IV [Exhibits, Financial Statement Schedules](index=43&type=section&id=Item%2015.%20Exhibits%2C%20Financial%20Statement%20Schedules) This section lists consolidated financial statements, schedules, and exhibits, including the Labcorp Asset Purchase Agreement and convertible debenture agreements - This item provides a list of all financial statements, schedules, and exhibits included with the Form 10-K filing[235](index=235&type=chunk) - Key exhibits include the Asset Purchase Agreement with Labcorp (10m), the Securities Purchase Agreement for convertible debentures (10q), and various employment and settlement agreements[236](index=236&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Mark one ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________________ to ___________________ Commission File Number 001-09974 ENZO BIOCHEM, INC. (Exact name of registrant as specified in its charter) New York 1 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Mark one ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended January 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________________ to ___________________ Commission File Number 001-09974 ENZO BIOCHEM, INC. (Exact name of registrant as specified in its charter) New York ...

Enzo Biochem, Inc. (NYSE:ENZ) Q1 2023 Earnings Conference Call December 13, 2022 8:30 AM ET Company Participants Unidentified Company Representative - IR Hamid Erfanian - CEO Patricia Eckert - Interim CFO Conference Call Participants Operator Greetings and welcome to the Enzo Biochem, Incorporated First Quarter 2023 Earnings Call. At this all participants are in a listen-only mode. [Operator Instructions]. Please note that this conference is being recorded. At this time I will turn the conference over to Br ...

Revenue Performance - For the three months ended October 31, 2022, revenues decreased to $18.276 million, down 31% from $26.519 million in the same period of 2021[140] - Clinical services revenues decreased to $11.2 million in 2023 from $19.7 million in 2022, a decline of 43%[147] - Revenues from COVID-19 testing represented 7% of clinical revenues in 2023, down from 47% in 2022, with a 92% decline in COVID-19 accessions[147] - Product revenues increased to $7.1 million in 2023, up 5% from $6.8 million in 2022, with growth in the U.S. and Asia Pacific regions[150] Operating Loss and Costs - Operating loss for the three months ended October 31, 2022, was $9.913 million, compared to an operating loss of $1.832 million in the same period of 2021, reflecting an unfavorable change of $8.081 million[140] - Total operating costs and expenses for the three months ended October 31, 2022, were $28.189 million, a slight decrease of 1% from $28.351 million in the same period of 2021[140] - The cost of clinical services decreased to $10.1 million in 2023, down 10% from $11.2 million in 2022, resulting in a gross profit margin of approximately 10%[151] Cash Flow and Liquidity - Net cash used in operating activities was $8.7 million in 2023, compared to $6.0 million in 2022, reflecting a net loss of $10.6 million[163] - The company had cash and cash equivalents of $12.1 million as of October 31, 2022, down from $21.6 million at July 31, 2022[160] - The company believes its current cash and cash equivalents are sufficient for its liquidity needs over the next twelve months, but may need to raise additional capital if losses continue[168] Accounts Receivable - As of October 31, 2022, approximately 62% of the Company's net accounts receivable relates to its Clinical Laboratory Services business, up from 59% as of July 31, 2022[180] - The Clinical Labs segment's total net accounts receivable increased to $7.096 million as of October 31, 2022, from $6.754 million as of July 31, 2022[181] - Accounts receivable from third-party payers in the Clinical Labs segment rose to $3.054 million (43%) as of October 31, 2022, compared to $2.647 million (40%) as of July 31, 2022[181] - The Company reported total net accounts receivable of $11.515 million as of October 31, 2022, nearly unchanged from $11.516 million as of July 31, 2022[181] Research and Development - The company has a substantial portfolio of approximately 472 issued patents worldwide and over 64 pending patent applications, supporting its R&D efforts[134] - Research and development expenses rose to $1.0 million in 2023, an increase of 34% from $0.7 million in 2022, focusing on lab-developed tests and COVID-19 detection[154] Market and Economic Conditions - The company continues to assess the potential adverse impacts of the recessionary economic environment on its financial position and cash flows[129] - The company expects that volume and revenues from COVID-19 testing will remain less significant as vaccination rates increase and the severity of variants declines[128] Currency Risk - The Company is exposed to a potential $2.0 million unfavorable impact on pre-tax earnings annually if the U.S. dollar appreciates by 10% against foreign currencies[192] - A hypothetical 10% increase in the U.S. dollar value would decrease the Company's net revenues and net income by $0.8 million and $0.5 million, respectively, on an annual basis[191] - The Company does not currently engage in any hedging or market risk management tools to mitigate foreign currency exchange rate risks[190] Operational Challenges - Enzo's Clinical Services segment is impacted by reduced reimbursements from third-party payers and recent healthcare legislation[136] - Selling, general and administrative expenses increased to $11.5 million in 2023, a rise of 4% from $11.1 million in 2022, primarily due to higher facility costs[155] - Enzo's proprietary technology platforms aim to reduce overall healthcare costs and improve accuracy and reproducibility in diagnostic testing[133] - The Company assesses the collectability of receivables based on the quality of its billing processes, which are critical for operating performance and cash flows[181]