Stock Alert: ENZ Up In Pre-Market On Launch Of COVID-19 Testing Services

(RTTNews) - Shares of Enzo Biochem Inc. (ENZ) continue to spike in pre-market today, after the company announced that its wholly owned subsidiary, Enzo Clinical Labs Inc., would begin accepting specimens for novel Coronavirus (COVID-19) testing next week.

The test used by Enzo is a molecular test that determines the presence of viral RNA in respiratory specimens collected from patients by healthcare providers.

Enzo CEO Dr. Elazar Rabbani commented: "Clinical laboratories play a vital role in combatting serious challenges to public health, including those posed by COVID-19. We are pleased to be able to rapidly respond to the urgent need for this test and we remain committed to working with our industry partners to address this challenge."

The stock has been trading between $2.01 and $4.46 in the past one year, and closed Thursday's trade at $2.26, up $0.03 or 1.35%. ENZ is currently trading at $3.40, up $1.14 or 50.45% in the pre-market trading session.