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Why Enzo Biochem Shares Are Rallying

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Why Enzo Biochem Shares Are Rallying

Enzo Biochem, Inc. (NYSE: ENZ) shares were rallying Thursday following an update from the company on its comprehensive COVID-19 program.

The New York-based biosciences and diagnostic company said its COVID-19 suite now includes molecular diagnostic virus screening products, detection for immunity through IgG/IgM serological ELISA products, detection of inflammation on its ELISA platform and a promising proprietary drug candidate, SK1-1.

Enzo's diagnostics division offers next-gen COVID-19 test kits under FDA Emergency Use Authorization.

Enzo's open molecular diagnostic system allows for adoptability with regards to reagents, supplies and instruments, according to Enzo.

The system can be used for the current pandemic and can also be repurposed for any current or future infectious agent diagnosis, the company said. 

The new test has improved scale, sensitivity and more relevant positive control materials, according to Enzo. 

Enzo shares were jumping 12.67% to $2.44 at the time of publication Thursday.

Related Links:

The Daily Biotech Pulse: FDA Nod For Immunomedics, Lilly's Solid Q1 Beat, Predictive Oncology Restructures Debt

BioNTech, Immunic Soar On COVID-19 Developmental Updates

 

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