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FARMINGDALE, N.Y., March 28, 2025 (GLOBE NEWSWIRE) -- Enzo Biochem, Inc. (NYSE: ENZ) (“Enzo” or the “Company”) today announced its intention to voluntarily delist its common stock from The New York Stock Exchange (“NYSE”) and to have its common stock quoted on the OTCQX Best Market (“OTCQX”).
Enzo provided notice of the voluntary delisting to the NYSE on March 28, 2025 and intends to timely file a notification of removal from listing on Form 25 with the Securities and Exchange Commission (the “SEC”) to effect the delisting. It is anticipated that the delisting will become effective on or about April 17, 2025, with trading on OTCQX to commence on or about April 18, 2025.
This announcement follows the Company’s previously disclosed receipt of a notice from the NYSE that the Company is not in compliance with the NYSE’s continued listing standards with respect to market capitalization, stockholder’s equity and average closing stock price. The Company considered available alternatives to cure the deficiencies identified by the NYSE, and the Company’s Board of Directors has determined to voluntarily delist the Company’s common stock from the NYSE and transfer trading of the common stock to the OTCQX at this time rather than continuing activity with the NYSE’s listing requirements.
The Company has made an application to have its common stock quoted on the OTCQX and expects that the common stock will be quoted on the OTCQX on the next trading day after NYSE trading is no longer available, anticipated to be on or about April 18, 2025, subject to the approval of the OTCQX.
The Company will remain subject to the periodic reporting requirements of the Securities Exchange Act of 1934, as amended, following the delisting of its common stock from the NYSE. Shareholders will not be required to exchange any shares, and the Company expects electronic trading to be available without any material disruption.
About Enzo Biochem
Enzo Biochem, Inc. has operated as a life sciences company for over 45 years. The primary business of Enzo today is conducted through its Life Sciences division, Enzo Life Sciences, which focuses on labeling and detection technologies from DNA to whole cell analysis, including a comprehensive portfolio of thousands of high-quality products, including antibodies, genomic probes, assays, biochemicals, and proteins. The Company’s proprietary products and technologies play central roles in translational research and drug development areas, including cell biology, genomics, assays, immunohistochemistry, and small molecule chemistry. The Company monetizes its technology primarily via sales through our global distribution network and licensing. For more information, please visit enzo.com or follow Enzo Biochem on X and LinkedIn.