Enzo

The stock prices of 17 of the 25 firms in the 360Dx Index fell month over month with Enzo Biochem and Bio-Rad leading decliners.

The company said the revenue growth was largely due to double-digit growth in its clinical labs business.

The test is performed on the company's AmpiProbe platform, and the approval expands Enzo's offering of infectious disease tests in New York.

The increase was largely due to a 13 percent rise in clinical lab revenues, driven by sales of molecular diagnostic tests, particularly in women's health.

The Index was up about 4 percent month over month and outpaced the Dow Jones Industrial Average and the Nasdaq Composite, but trailed the Nasdaq Biotechnology index. 

Enzo's patent relates to modified nucleotides for diagnostic and therapeutic applications, and is central to separate ongoing lawsuits with diagnostic developers.

The company also announced that it has received New York State Department of Health conditional approval for three women's health molecular diagnostic tests.

Overall, 10 of the 26 companies in the 360Dx Index declined last month, but it still beat the broader markets. 

Revenues from the company's clinical labs segment grew 8 percent this quarter, and revenues from the life sciences business grew 6 percent.

The company said revenues from its clinical lab services rose 9 percent because of high demand for certain molecular diagnostic services.

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