RTTNews | Mar 16, 2021 10:44AM EDT

10:43 Tuesday, March 16, 2021 (RTTNews.com) - Shares of biosciences and diagnostics company Enzo Biochem, Inc. (ENZ) are surging more than 45% Tuesday morning following second-quarter results.

The company reported net income of $2.3 million, or $0.05 per share, compared with net loss of $7.7 million, or $0.16 per share in the year-ago quarter.

Revenue in the second quarter increased 62% year-over-year to $31.5 million, helped by 92% growth in clinical laboratory revenue.

"These results are especially indicative of the advancements we have made in development of proprietary products, notably our versatile GENFLEX molecular diagnostic platform, as well as our integrated end-to-end business strategy that ranges from research through final diagnostic products and services," said Elazar Rabbani, Ph.D., Enzo's Chairman and CEO.

ENZ touched a new high of $4.84 this morning, before sliding to trade at $4.29 currently.

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