Enzon Reports 2Nd Qtr 2010 Loss of $5.4 Million (Financial Report‪)‬

Enzon Pharmaceuticals, Inc. (Nasdaq: ENZN), Bridgewater, N.J., has announced its financial results for the second quarter of 2010. For the second quarter of 2010, Enzon reported a loss from continuing operations of $5.4 million or $0.09 per diluted share, as compared to a loss of $19.7 million or $0.43 per diluted share for the second quarter of 2009. "Enzon made significant progress over the second quarter in realigning its operations as a biopharmaceutical company. Enzon made significant progress over the second quarter in realigning its operations as a biopharmaceutical company," said Alex Denner, Ph.D., Chairman of the Board. "The company is now focused on building value through its novel pipeline of oncology therapeutics and returning value from its other assets. Enzon also improved its corporate governance standards last quarter by eliminating board classes and instituting annual elections for our entire slate of directors. Governance was further enhanced with the addition of Drs. Thomas Deuel and Richard Young as directors, each of whom brings outstanding scientific credentials and experience to the Board."