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CHSP, PGR, ELT, ENZ - Highlight Video for ENZ Included by




  Enzo Biochem, Inc. (NYSE:ENZ)

Enzo Biochem, Inc., a life sciences and biotechnology company, engages in the research, development, manufacture, and marketing of diagnostic and research products based on genetic engineering, biotechnology, and molecular biology. ENZ operates in three segments: Enzo Life Sciences, Enzo Clinical Labs, and Enzo Therapeutics.

The Enzo Life Sciences segment manufactures, develops, and markets functional biology and cellular biochemistry products and tools to research and pharmaceutical customers. It offers products applied in the fields of antibiotics, autophagy, cancer, cell cycle, cell death, cell signaling, cell trafficking, genomics/molecular biology, immunology, inflammation, lipid signaling, neurobiology, protein degradation, ROS/RNS, and stress/heat shock.

The Enzo Clinical Labs segment offers routine and esoteric clinical laboratory tests or procedures used in general patient care by physicians to establish or support a diagnosis, monitor treatment or medication, and search for an otherwise undiagnosed condition. It also operates a full-service clinical laboratory, a network of 30 patient service centers, a stand alone or rapid response laboratory, and a full-service phlebotomy department.

The Enzo Therapeutics segment engages in the research and development of various therapeutic drug candidates based on cell signaling, immune regulation, and gene regulation for the treatment of gastrointestinal, infectious, ophthalmic, and metabolic diseases. ENZ sells its products through direct sales force and distributors in the United States, Switzerland, the United Kingdom, Belgium, and Germany. ENZ was founded in 1976 and is headquartered in New York, New York.

Enzo Biochem, Inc. reported this week improved sequential results for the first fiscal quarter ended October 31, 2010, the result of recent programs to reduce expenses, consolidate activities and expand operations.

“We are pleased to report that our program instituted this quarter aimed at making Enzo more efficient and designed to produce more effective use of our assets is beginning to show results, as demonstrated by improved performance, ” said Barry Weiner, President of ENZ. “While we are in the early stages of this comprehensive program, the results experienced to date are very encouraging.”

“Moreover, in the first quarter, we achieved several milestones. We submitted Colon Sentry, a unique assay for risk-stratification of colon cancer occurrence, to the New York State Department of Health for approval. In addition, we began enrolling the first patients in our clinical trial of Optiquel, our candidate therapeutic for the treatment of autoimmune uveitis. We also continued to roll out proprietary products and systems designed to aid in drug development,” he added.

Among the quarter’s highlights (all references are to sequential quarter over quarter results, normalized for an inventory charge and severance of $1.8 million where applicable):

  • Enzo Life Sciences, benefiting from increased emphasis on higher margin products, realized a greater than 100% gain in operating income.
  • Enzo Clinical Labs increased revenues 6%, while reducing the operating loss 62%.
  • Company-wide, gross margin increased $2.0 million or 17%.
  • Operating expenses decreased 7%, or to 57% of revenues, from 63%.
  • EBITDA, a non-GAAP measure, was $23,000, an improvement of $2.9 million from the prior quarter.
  • Net loss for the quarter was reduced 70%.

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Chesapeake Lodging Trust (NYSE:CHSP) announced this week that it has entered into a definitive agreement to acquire the 360-room Le Meridien San Francisco located in San Francisco, California for a purchase price of $143 million, or approximately $397,000 per key. The Company intends to fund the acquisition with a $60 million term loan secured by the hotel that is expected to be funded at the closing of the acquisition, a $45 million borrowing under its revolving credit facility, and remaining proceeds from its recent equity offering. Completion of the proposed acquisition is expected before the end of 2010, subject to satisfaction of customary closing conditions. The Company intends to enter into an agreement with a subsidiary of HEI Hotels and Resorts, the hotel’s current operator, to manage the hotel under its current franchise flag.


Progressive Corp. (NYSE:PGR) the first company to deliver a single platform for website personalization solutions to improve conversion and engagement activity, announced yesterday that car insurance company Progressive has implemented website optimization solutions from Amadesa to improve upon its online offerings to customers and prospects. Website personalization and optimization is the latest in a string of innovations embraced by the 73-year-old company, which was among the first to change the insurance shopping experience by offering comparison rates on the Web.

The Progressive Corporation, through its subsidiaries, provides personal and commercial automobile insurance, and other specialty property-casualty insurance products and related services primarily in the United States.


Elster Group SE American Deposi (NYSE:ELT) announced yesterday that TESCO, a UK-based retailer, has been awarded the prestigious 2010 Platts Global Energy Award for Energy Efficiency Program of the Year, Commercial End-User. Established in 1999 and widely recognized as the "Oscars" of the energy industry, Platts Global Energy Awards highlight corporate and individual innovation, leadership, and superior performance in 17 categories spanning the entire energy complex. 2010 winners were honored at a gala awards ceremony in New York City.

Elster Group SE develops, manufactures, and distributes metering solutions for water, gas, and electricity. Its Gas segment offers mechanical and solid state meters; gas utilization products comprising process-heating equipment, such as burner-control systems for gas-fired industrial heat treatment processes and heat-control systems for residential and commercial boilers; and gas distribution products consisting of valves, risers, and other gas infrastructure products.



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