This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Enzo Biochem Falls on Court Dismissal

Enzo Biochem (ENZ - Get Report) fell sharply Friday on a court's decision to dismiss claims in a patent-infringement case against Applera's Applied Biosystems Group (ABI).

The U.S. District Court for the District of Connecticut granted Applied Biosystems' motion for a summary judgment, dismissing all remaining claims in the patent-infringement case filed by Enzo Biochem.

According to an Applied Biosystems' Securities and Exchange Commission filing on Aug. 24, Enzo Biochem, Enzo Life Sciences and Yale University filed the lawsuit in June 2004, arguing infringement of six patents due to the company's sale of sequencing reagent kits, TaqMan genotyping and gene-expression assays and the gene-expression microarrays used with the company's Expression Array System. Four of the patents are assigned to Yale and licensed exclusively to Enzo Biochem.

Enzo Biochem said in a release Friday that it filed a notice of appeal with the court of appeals following the summary judgment seeking recovery for past infringement on three patents based on the work of Dr. David C. Ward at Yale University that expired in 2004.

"We have every belief that the Federal Circuit will overturn this decision, and that Enzo will ultimately prevail," said Scott Robertson of Goodwin Procter, Enzo's lead counsel in this action.

Applied Biosystems gained 2% in the morning but was recently trading along the flat line at $32.21. Enzo slid $5.07, or 28.5%, to $12.70.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
ABI $22.98 1.01%
ENZ $5.17 7.48%
AAPL $93.24 -0.41%
FB $117.81 -0.21%
GOOG $701.43 0.82%


Chart of I:DJI
DOW 17,660.71 +9.45 0.05%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs