Revenue Performance - Product revenues increased to $8.0 million in the 2024 period, up 7% from $7.5 million in the 2023 period, with a 40% revenue increase in European markets[133] - Product revenues increased to $24.4 million in the 2024 period, up 10% from $22.1 million in the 2023 period, driven by a 10% increase in the US market and a 16% increase in the European market[146] Profitability - The gross profit margin for Products improved to approximately 47% in the 2024 period from 40% in the 2023 period, driven by a favorable product mix and lower input costs[134] - The cost of product revenues decreased to $13.0 million in the 2024 period, a reduction of 5% from $13.7 million in the 2023 period, resulting in a gross profit margin improvement to approximately 47%[147] Expenses - Research and development expenses decreased by 32% to $0.6 million in the 2024 period from $0.9 million in the 2023 period, with no activities related to translational research due to exiting the clinical reference business[135] - Research and development expenses were reduced to $2.0 million in the 2024 period, down 25% from $2.7 million in the 2023 period, following the cessation of translation product development[148] - Selling, general and administrative expenses fell by 28% to $4.5 million in the 2024 period from $6.2 million in the 2023 period, primarily due to reduced consulting fees and lower salaries[136] - Selling, general and administrative expenses decreased to $16.6 million in the 2024 period, a decline of 3% from $17.1 million in the 2023 period, primarily due to lower consulting fees and reduced salaries[149] - Legal and related expenses decreased by 84% to $0.7 million in the 2024 period from $4.3 million in the 2023 period, reflecting reduced legal needs following the Asset Purchase Agreement[137] - Legal and related expenses significantly decreased to $2.5 million in the 2024 period, down 59% from $6.2 million in the 2023 period, reflecting reduced legal needs[150] Interest and Financial Adjustments - Interest income increased to $0.7 million in the 2024 period compared to a net interest expense of $0.1 million in the 2023 period, a favorable variance of $0.8 million[138] - Interest income increased to $2.6 million in the 2024 period, a favorable variance of $2.5 million compared to $0.1 million in the 2023 period, due to net proceeds from the Asset Purchase Agreement[151] - The company recorded a fair value adjustment charge of approximately $0.4 million for the Debentures as of April 30, 2024[139] Foreign Exchange Impact - The foreign exchange loss for the Products segment was $0.5 million in the 2024 period, compared to a gain of $0.4 million in the 2023 period, resulting in an unfavorable variance of $0.9 million[140] - The foreign exchange loss for the 2024 period was approximately $0.9 million, compared to a gain of $1.0 million in the 2023 period, resulting in an unfavorable variance of $1.9 million[153] Cash Flow and Financial Position - As of April 30, 2024, the company's cash and cash equivalents totaled $57.2 million, down from $83.4 million as of July 31, 2023, primarily due to net losses and cash used to pay down liabilities[154] - Net cash used in operating activities was $25.2 million in the 2024 period, an increase of $5.3 million compared to $19.9 million in the 2023 period, attributed to the paydown of accounts payable[155] Legal Matters - A ransomware attack in April 2023 affected approximately 2,470,000 individuals' clinical test information, with potential costs covered up to $3 million by the company's cybersecurity insurance[128] - The company is involved in ongoing legal matters, including class action lawsuits related to a ransomware attack, which may impact future financial obligations and profitability[157] Business Transactions - The company completed the sale of its Clinical Services business to Labcorp for an aggregate purchase price of $113.25 million in cash, effective July 24, 2023[125]

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 ...