Enzo Biochem Loss Widens

Enzo Biochem's(ENZ Quote) fourth-quarter loss widened year over year as revenue dropped and expenses increased.

The laboratory-research company's revenue was $9.9 million, down from $10.9 million in the year-ago period. Overall, the company lost $4.5 million, or 14 cents a share, compared with a loss of $2 million, or 6 cents a share, a year ago.

Expenses were up by $900,000 in the quarter. Increased clinical trial costs accounted for $500,000 of the total. Enzo also says both the fourth quarter and the full year were hampered by its inability to record a full tax benefit on losses it incurred.

Separately, Enzo said it appointed Gary Cupit, a former Novartis (NVS Quote) executive and most recently the president and CEO of privately held Sapphire Therapeutics, to the newly created position of president of its therapeutics unit.