Enzo Biochem Inc. said Thursday its fiscal third-quarter loss narrowed, boosted by the biotechnology company's clinical labs business.
The New York company lost $2.1 million, or 5 cents per share, in the three months that ended April 30. That compares with a loss of $4.6 million, or 12 cents per share, in the same quarter last year. Revenue climbed 9 percent to $25.8 million from $23.8 million.
Enzo's product revenue fell 1 percent from last year's quarter, but the company said clinical lab revenue climbed 28 percent to $13.8 million, helped by a new payer contract and more clients and test offerings.
Company shares climbed 12 cents, or 3.3 percent, to $3.71 in afternoon trading.