Enzo Biochem Inc. shares doubled in aftermarket trading Thursday following an agreement for Laboratory Corp. of America Holdings to acquire the assets of the integrated diagnostics, clinical lab, and life sciences company’s clinical laboratory division.
Financial terms of the agreement weren’t disclosed.
Enzo Chief Executive Hamid Erfanian said the completed sale will position the company to advance its leadership within the life sciences sector.
Shares rose 103% to $2.42 in aftermarket trading. The stock, which closed up 19% at $1.19, is down around 62% over the last 12 months.