ENZN
Enzon Pharmaceuticals, Inc.0.0500
+0.0000+0%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
3.71MP/E (TTM)
-Basic EPS (TTM)
-0.05Dividend Yield
0%Recent Filings
10-Q
8-K
Merger amendment boosts Viskase stake
Enzon Pharmaceuticals amended its merger agreement with Viskase on October 24, 2025, adjusting the exchange ratio so Viskase stockholders own 55% of the combined company while Enzon holders retain 45%. The deal now includes a 1-for-100 reverse stock split for Enzon shares, a reduced cash minimum at closing, and an extension to March 31, 2026, to accommodate Viskase's recent operational shifts. Enzon's tax benefits stay intact post-merger. Closing hinges on approvals and Viskase's financial filings.
8-K
Enzon extends rights plan
Enzon Pharmaceuticals extended its Section 382 Rights Agreement through the Fifth Amendment on September 30, 2025, pushing the final expiration date from September 30 to December 31, 2025. This tweak protects against ownership shifts that could hobble tax benefits under Section 382. Management sees it as a smart move for shareholders. Yet risks linger if control changes abruptly.
10-Q
Q2 FY2025 results
Enzon Pharmaceuticals posted no revenue in Q2 FY2025 ended June 30, 2025, down from $26K in royalties the prior year, while interest income dipped 17% y/y to $501K amid lower cash balances. Operating expenses jumped to $1.5M from $351K, driven by $1.2M in merger-related transaction costs, yielding an operating loss of $1.5M versus $325K last year; net loss widened to $990K, differing from operating due to $531K preferred stock accretion. Diluted EPS of $(0.02) aligns with 74.2M shares. Cash fell to $44.3M after $1.3M dividend payments and $1.3M operating outflow, with no capex so FCF matches. The pending all-stock merger with Viskase, signed June 20, 2025, cleared HSR review July 15 and eyes year-end close as a tax-free reorganization, converting Enzon to Viskase Holdings. Merger risks loom large.
8-K
Enzon-Viskase merger announced
Enzon Pharmaceuticals announced a merger with Viskase Companies on June 20, 2025, where Viskase merges into Enzon's subsidiary in an all-stock deal, positioning Viskase as the dominant force with 84.1% ownership of the combined entity, while Enzon common holders retain just 2.06% and preferred holders 13.84%. The deal, backed by special committees and Icahn affiliates' support agreement, targets a December 31, 2025 close pending stockholder approvals and regulatory nods, including HSR clearance. Viskase's CEO takes the helm. Ownership dilutes sharply for Enzon.
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