$ENZN
ENZON PHARMACEUTICALS, INC. Stock $enzn

$enzn Overview Financials Valuation SEC Filings Company Website

2016 Q2 Form 10-Q Financial Statement

#000114420416118076 Filed on August 10, 2016

Income Statement

Concept	2016 Q2	2015 Q4	2015 Q2
Revenue	$2.272M	$3.160M	$5.192M
YoY Change	-56.24%	-49.6%	-33.14%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin	$440.0K	$840.0K	$520.0K
YoY Change	-15.38%	78.72%	-38.1%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses	$436.0K	$840.0K	$516.0K
YoY Change	-15.5%	78.72%	-38.28%
Operating Profit	$1.836M		$4.676M
YoY Change	-60.74%		-32.53%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net			$0.00
YoY Change			-100.0%
Pretax Income	$1.836M	$2.370M	$4.676M
YoY Change	-60.74%	-59.14%	-32.05%
Income Tax	$801.0K	-$10.13M	$894.0K
% Of Pretax Income	43.63%	-427.43%	19.12%
Net Earnings	$1.035M	$12.50M	$3.782M
YoY Change	-72.63%	115.52%	-45.05%
Net Earnings / Revenue	45.55%	395.57%	72.84%
Basic Earnings Per Share	$0.02		$0.09
Diluted Earnings Per Share	$0.02	$640.0K	$0.09
COMMON SHARES
Basic Shares Outstanding	44.12M shares		44.18M shares
Diluted Shares Outstanding	44.12M shares		44.22M shares

Balance Sheet

Concept	2016 Q2	2015 Q4	2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments	$11.20M	$11.70M	$39.00M
YoY Change	-71.28%	-66.18%	81.4%
Cash & Equivalents	$11.23M	$11.67M	$38.99M
Short-Term Investments
Other Short-Term Assets	$278.0K	$107.0K	$600.0K
YoY Change	-53.67%	-77.62%	50.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets	$11.51M	$11.78M	$39.61M
YoY Change	-70.94%	-66.38%	80.85%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$9.300M	$11.10M	$1.700M
YoY Change	447.06%
Total Long-Term Assets	$9.282M	$11.11M	$1.694M
YoY Change	447.93%		169300.0%
TOTAL ASSETS
Total Short-Term Assets	$11.51M	$11.78M	$39.61M
Total Long-Term Assets	$9.282M	$11.11M	$1.694M
Total Assets	$20.79M	$22.89M	$41.30M
YoY Change	-49.66%	-34.67%	88.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$0.00	$90.00K	$0.00
YoY Change		-50.28%	-100.0%
Accrued Expenses	$150.0K	$205.0K	$400.0K
YoY Change	-62.5%	-55.24%	-25.79%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$150.0K	$4.801M	$22.51M
YoY Change	-99.33%	-5.04%	2727.39%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00	$0.00	$0.00
YoY Change
Other Long-Term Liabilities		$0.00	$300.0K
YoY Change		-100.0%	-40.0%
Total Long-Term Liabilities	$0.00	$0.00	$300.0K
YoY Change	-100.0%	-100.0%	-40.0%
TOTAL LIABILITIES
Total Short-Term Liabilities	$150.0K	$4.801M	$22.51M
Total Long-Term Liabilities	$0.00	$0.00	$300.0K
Total Liabilities	$200.0K	$4.801M	$22.83M
YoY Change	-99.12%	-11.7%	1707.44%
SHAREHOLDERS EQUITY
Retained Earnings	-$76.71M	-$79.27M	-$89.95M
YoY Change	-14.71%	-21.44%	-21.3%
Common Stock	$97.36M	$97.36M	$108.4M
YoY Change	-10.2%	-25.4%	-19.66%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$20.64M	$18.09M	$18.46M
YoY Change
Total Liabilities & Shareholders Equity	$20.79M	$22.89M	$41.29M
YoY Change	-49.64%	-34.67%	88.52%

Cashflow Statement

Concept	2016 Q2	2015 Q4	2015 Q2
OPERATING ACTIVITIES
Net Income	$1.035M	$12.50M	$3.782M
YoY Change	-72.63%	115.52%	-45.05%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities	$1.500M	$2.500M	$4.200M
YoY Change	-64.29%	-74.75%	-36.36%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities		$0.00	$0.00
YoY Change			-100.0%
Cash From Investing Activities		$0.00	$0.00
YoY Change			-100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	0.000	-11.10M	0.000
YoY Change		152.27%
NET CHANGE
Cash From Operating Activities	1.500M	2.500M	4.200M
Cash From Investing Activities		0.000	0.000
Cash From Financing Activities	0.000	-11.10M	0.000
Net Change In Cash	1.500M	-8.600M	4.200M
YoY Change	-64.29%	-256.36%	-37.31%
FREE CASH FLOW
Cash From Operating Activities	$1.500M	$2.500M	$4.200M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2016Q2	us-gaap	Accounts Payable Current AccountsPayableCurrent	0	USD
CY2015Q4	us-gaap	Accounts Payable Current AccountsPayableCurrent	90000	USD
CY2016Q2	us-gaap	Other Assets Current OtherAssetsCurrent	278000	USD
CY2015Q4	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	205000	USD
CY2016Q2	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	150000	USD
	us-gaap	Net Income Loss NetIncomeLoss	2552000	USD
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.06
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.06
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	44167000	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	44167000	shares
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	1829000	USD
CY2016Q2	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		USD
CY2015Q4	us-gaap	Other Assets Current OtherAssetsCurrent	107000	USD
CY2016Q2	us-gaap	Liabilities Current LiabilitiesCurrent	150000	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	9354000	USD
CY2015Q4	us-gaap	Liabilities Current LiabilitiesCurrent	4801000	USD
CY2016Q2	us-gaap	Preferred Stock Value PreferredStockValue	0	USD
CY2015Q4	us-gaap	Preferred Stock Value PreferredStockValue	0	USD
CY2016Q2	us-gaap	Common Stock Value CommonStockValue	439000	USD
CY2015Q4	us-gaap	Common Stock Value CommonStockValue	441000	USD
CY2016Q2	us-gaap	Additional Paid In Capital Common Stock AdditionalPaidInCapitalCommonStock	96916000	USD
CY2015Q4	us-gaap	Additional Paid In Capital Common Stock AdditionalPaidInCapitalCommonStock	96914000	USD
CY2016Q2	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-76714000	USD
CY2015Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-79266000	USD
CY2016Q2	us-gaap	Stockholders Equity StockholdersEquity	20641000	USD
CY2015Q4	us-gaap	Stockholders Equity StockholdersEquity	18089000	USD
CY2016Q2	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	20791000	USD
CY2015Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	22890000	USD
CY2016Q2	us-gaap	Assets Current AssetsCurrent	11509000	USD
CY2015Q4	us-gaap	Assets Current AssetsCurrent	11779000	USD
CY2016Q2	us-gaap	Deferred Tax Assets Liabilities Net Noncurrent DeferredTaxAssetsLiabilitiesNetNoncurrent	9282000	USD
CY2015Q4	us-gaap	Deferred Tax Assets Liabilities Net Noncurrent DeferredTaxAssetsLiabilitiesNetNoncurrent	11111000	USD
CY2016Q2	us-gaap	Assets Assets	20791000	USD
CY2015Q4	us-gaap	Assets Assets	22890000	USD
CY2016Q2	enzn	Accrued Lease Termination Costs Current AccruedLeaseTerminationCostsCurrent	0	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	4381000	USD
CY2015Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	44182000	shares
CY2016Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	44120000	shares
CY2016Q2	us-gaap	Operating Expenses OperatingExpenses	436000	USD
CY2015Q4	enzn	Accrued Lease Termination Costs Current AccruedLeaseTerminationCostsCurrent	4506000	USD
CY2016Q2	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	11231000	USD
	us-gaap	Royalty Revenue RoyaltyRevenue	5496000	USD
	us-gaap	Other Sales Revenue Net OtherSalesRevenueNet	42000	USD
CY2016Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	44120000	shares
	us-gaap	Other General And Administrative Expense OtherGeneralAndAdministrativeExpense	1157000	USD
	us-gaap	Operating Expenses OperatingExpenses	1157000	USD
CY2016Q2	us-gaap	Royalty Revenue RoyaltyRevenue	2272000	USD
CY2016Q2	us-gaap	Other Sales Revenue Net OtherSalesRevenueNet	0	USD
CY2016Q2	us-gaap	Sales Revenue Net SalesRevenueNet	2272000	USD
CY2016Q2	us-gaap	Other General And Administrative Expense OtherGeneralAndAdministrativeExpense	436000	USD
CY2016Q2	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	801000	USD
CY2016Q2	us-gaap	Net Income Loss NetIncomeLoss	1035000	USD
CY2016Q2	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.02
CY2016Q2	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.02
CY2016Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	1836000	USD
	us-gaap	Payments Related To Tax Withholding For Share Based Compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation	0	USD
	us-gaap	Payments Of Dividends Common Stock PaymentsOfDividendsCommonStock	0	USD
	us-gaap	Net Cash Provided By Used In Financing Activities Continuing Operations NetCashProvidedByUsedInFinancingActivitiesContinuingOperations	0	USD
	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	-441000	USD
CY2014Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	34562000	USD
	us-gaap	Deferred Income Tax Expense Benefit DeferredIncomeTaxExpenseBenefit	-1682000	USD
	us-gaap	Net Cash Provided By Used In Operating Activities Continuing Operations NetCashProvidedByUsedInOperatingActivitiesContinuingOperations	-441000	USD
	us-gaap	Increase Decrease In Other Operating Capital Net IncreaseDecreaseInOtherOperatingCapitalNet	4822000	USD
	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	0	shares
	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	2552000	USD
	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	46000	shares
CY2016Q2	enzn	Royalty Revenues From Sales Percentage RoyaltyRevenuesFromSalesPercentage	0.72	pure
	us-gaap	Other Sales Revenue Net OtherSalesRevenueNet	151000	USD
	us-gaap	Sales Revenue Net SalesRevenueNet	5538000	USD
	us-gaap	Sales Revenue Net SalesRevenueNet	10453000	USD
CY2015Q2	us-gaap	Royalty Revenue RoyaltyRevenue	5097000	USD
CY2015Q2	us-gaap	Other Sales Revenue Net OtherSalesRevenueNet	95000	USD
CY2015Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	11672000	USD
	us-gaap	Royalty Revenue RoyaltyRevenue	10302000	USD
	us-gaap	Other General And Administrative Expense OtherGeneralAndAdministrativeExpense	1099000	USD
	us-gaap	Operating Expenses OperatingExpenses	1099000	USD
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	-1600000	USD
	us-gaap	Net Income Loss NetIncomeLoss	10954000	USD
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.25
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.25
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	44182000	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	44228000	shares
CY2015Q2	us-gaap	Sales Revenue Net SalesRevenueNet	5192000	USD
CY2015Q2	us-gaap	Other General And Administrative Expense OtherGeneralAndAdministrativeExpense	516000	USD
CY2015Q2	us-gaap	Operating Expenses OperatingExpenses	516000	USD
CY2016Q2	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	1035000	USD
CY2016Q2	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	0	shares
CY2015Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2015Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	44214603	shares
CY2015Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	348000	shares
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross	0	shares
CY2015Q4	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		USD
CY2016Q2	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
CY2015Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
CY2016Q2	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	3000000	shares
CY2015Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	3000000	shares
CY2016Q2	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2015Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2016Q2	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2015Q2	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	894000	USD
CY2015Q2	us-gaap	Net Income Loss NetIncomeLoss	3782000	USD
CY2015Q2	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.09
CY2015Q2	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.09
CY2015Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	44215000	shares
CY2015Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	4676000	USD
	us-gaap	Payments Related To Tax Withholding For Share Based Compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation	6000	USD
	us-gaap	Payments Of Dividends Common Stock PaymentsOfDividendsCommonStock	4417000	USD
	us-gaap	Net Cash Provided By Used In Financing Activities Continuing Operations NetCashProvidedByUsedInFinancingActivitiesContinuingOperations	-4423000	USD
	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	4431000	USD
CY2015Q2	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	38993000	USD
	us-gaap	Deferred Income Tax Expense Benefit DeferredIncomeTaxExpenseBenefit	1829000	USD
	us-gaap	Net Cash Provided By Used In Operating Activities Continuing Operations NetCashProvidedByUsedInOperatingActivitiesContinuingOperations	8854000	USD
	us-gaap	Increase Decrease In Other Operating Capital Net IncreaseDecreaseInOtherOperatingCapitalNet	418000	USD
	us-gaap	Stock Issued During Period Shares Stock Options Exercised StockIssuedDuringPeriodSharesStockOptionsExercised	0	shares
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod	348000	shares
CY2016Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	0	shares
CY2016Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber	0	shares
CY2016Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber	0	shares
	enzn	Employee Service Share Based Compensation Tax Payments EmployeeServiceShareBasedCompensationTaxPayments	6000	USD
	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	10954000	USD
CY2015Q2	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	3782000	USD
CY2015Q2	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	33000	shares
	us-gaap	Income Taxes Paid IncomeTaxesPaid	135000	USD
	enzn	Royalty Revenues From Sales Percentage RoyaltyRevenuesFromSalesPercentage	0.73	pure
	enzn	Royalty Revenues From Sales Percentage RoyaltyRevenuesFromSalesPercentage	0.79	pure
CY2015	enzn	Royalty Revenues From Sales Percentage RoyaltyRevenuesFromSalesPercentage	0.8	pure
	dei	Document Type DocumentType	10-Q
	dei	Amendment Flag AmendmentFlag	false
	dei	Document Period End Date DocumentPeriodEndDate	2016-06-30
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2016
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q2
	dei	Entity Registrant Name EntityRegistrantName	ENZON PHARMACEUTICALS, INC.
	dei	Entity Central Index Key EntityCentralIndexKey	0000727510
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
	dei	Entity Filer Category EntityFilerCategory	Smaller Reporting Company
	dei	Trading Symbol TradingSymbol	ENZN
CY2016Q3	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	43866611	shares
CY2016Q2	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.01
CY2015Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.01
CY2016Q2	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	170000000	shares
CY2015Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	170000000	shares
CY2016Q2	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	43866611	shares
CY2016Q2	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	43866611	shares
CY2015Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	44214603	shares
	us-gaap	Nature Of Operations NatureOfOperations	<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"> <b>(1) Description of Business</b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">Enzon Pharmaceuticals, Inc. (together with its subsidiary, “Enzon” or the “Company”) receives royalty revenues from existing licensing arrangements with other companies primarily related to sales of four marketed drug products, namely, PegIntron ®, Sylatron ®, Macugen ® and CIMZIA ®. In addition, the Company’s rights to receive royalties on sales of Macugen and CIMZIA expired in the U.S. and Great Britain in 2014. The primary source of the Company’s royalty revenues is sales of PegIntron, which is marketed by Merck & Co., Inc. (“Merck”). The Company currently has no clinical operations and limited corporate operations. Royalty revenues from sales of PegIntron accounted for approximately <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 72</font>% and <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 67</font>% of the Company’s total royalty revenues for the three months ended June 30, 2016 and 2015, respectively, approximately <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 73</font>% and <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 79</font>% of the Company’s total royalty revenues in the six-month periods ended June 30, 2016 and 2015, respectively, and approximately <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 80</font></font>% of the Company’s total royalty revenues for each of the years ended December 31, 2015 and 2014.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">The Company was previously dedicated to the research and development of innovative therapeutics for patients with high unmet medical needs.   Beginning in December 2012, the Company’s Board of Directors (the “Board”), with outside consultants, began a review of the possible sale or disposition of one or more corporate assets or a sale of the Company. At that time, the Company suspended substantially all clinical development activities with a goal of conserving capital and maximizing value returned to the Company’s stockholders.   By April 2013, the review did not result in a definitive offer to acquire the Company or all or substantially all of the Company’s assets.   At the same time, the Company announced that its Board intended to distribute excess cash, expected to arise from ongoing royalty revenues, in the form of periodic dividends to stockholders.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0px 0px 0px 36.75pt; FONT: 10pt Times New Roman, Times, Serif" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt"> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">Effective June 25, 2015, the Company and Sigma-Tau Pharmaceuticals, Inc., Defiante Farmaceutica, S.A. and Sigma-Tau Finanzaria, S.P.A. (collectively “Sigma-Tau”) agreed to settle, for $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">526,128</font>, a claim by the Company that Sigma Tau inappropriately withheld $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">826,128</font> (the “Claim”) in rebate payments earned in the fourth quarter of 2014 and paid in the first quarter of 2015 that would otherwise have been due the Company as royalty payments. Sigma-Tau retained an amount equal to $826,128 that would, but for the Claim, be due and owing to the Company under the Agreement in the second quarter of 2015, but under the terms of the settlement agreed to pay to the Company $300,000 (the “Settlement Amount”). The Company agreed that upon receipt of such amount, it would not have a claim for $826,128 in royalties earned for the fourth quarter of 2014, provided that the Company maintains its right, upon written request to Sigma-Tau and through an independent accounting firm, to inspect the relevant records of Sigma-Tau at any time within the three-year period following the close of each calendar year for the purpose of verifying the accuracy of all payments or charges used to calculate royalties payable under the Company’s agreement with Sigma-Tau for such calendar year and to make a claim as a result of such inspection. The Company recorded the $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">300,000</font> as royalty revenue during the second quarter of 2015 and received such Settlement Amount on July 13, 2015.</div> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><font style="COLOR: #1a1a1a">In June 2015, the Company delivered notice to Nektar Therapeutics, Inc. (“Nektar”) asserting a breach of its Cross-License and Option Agreement with Nektar for Nektar’s failure to pay an immunity fee that the Company believes became payable to it under such agreement with respect to certain of the Company’s patents that would be infringed by Nektar’s products (or those of Nektar’s licensees). To date, Nektar has disputed the Company’s claim to an immunity fee.  On August 14, 2015, the Company filed a summons and complaint against Nektar in the Supreme Court of New York for breach of contract (the “Complaint”). On October 23, 2015, Nektar filed a motion to dismiss the Complaint.</font> On February 2, 2016, the Supreme Court of the State of New York granted Nektar its motion to dismiss the Complaint. The Company has appealed this dismissal. The appeal is presently pending before the Supreme Court of the State of New York, Appellate Division. While the Company continues to believe that an immunity fee is currently due and payable by Nektar and intends to continue to pursue this claim, the outcome of such dispute is uncertain and there can be no assurance that the Company will be able to collect, in full or in part, the immunity fee or any future payments related thereto from Nektar. <font style="COLOR: #1a1a1a">As such, no amounts have been recorded as of June 30, 2016.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: #141414" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><font style="COLOR: #141414">The Company ended its remaining research and development activities during 2013 </font> and the Company has no intention of resuming any clinical development activities or acquiring new sources of royalty revenues.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif">  </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">On February 4, 2016, the Board adopted a Plan of Liquidation and Dissolution (the “Plan of Liquidation and Dissolution”), pursuant to which the Company would, subject to obtaining requisite stockholder approval, be liquidated and dissolved in accordance with Sections 280 and 281(a) of the General Corporation Law of the State of Delaware. As announced in the Company’s Current Report on Form 8-K filed on March 21, 2016, the Board has postponed seeking stockholder approval of the Plan of Liquidation and Dissolution until a later time to be determined by the Board.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
	us-gaap	Basis Of Accounting BasisOfAccounting	<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"> <b>(2) Basis of Presentation</b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><i>Interim Financial Statements</i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">The accompanying condensed balance sheet as of December 31, 2015, which has been derived from the audited financial statements, and the interim unaudited condensed consolidated financial statements have been prepared from the books and records of the Company in accordance with United States generally accepted accounting principles (U.S. GAAP) for interim financial information and Rule 10-01 of Regulation S-X promulgated by the U.S. Securities and Exchange Commission. Accordingly, these financial statements do not include all of the information and footnotes required for complete annual financial statements. Interim results are not necessarily indicative of the results that may be expected for the full year. Interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><i>Principles of Consolidation</i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiary. All intercompany balances and transactions have been eliminated in consolidation.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><i>Use of Estimates</i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Although management bases its estimates on historical experience and various other assumptions that are believed to be reasonable under the circumstances, actual results could differ from these estimates.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
	us-gaap	Description Of New Accounting Pronouncements Not Yet Adopted DescriptionOfNewAccountingPronouncementsNotYetAdopted	<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"> <b>(3) New Accounting Pronouncements</b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif">  </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">During the first quarter of 2016, the FASB issued Accounting Standards Update 2016-01 (ASU No. 2016-01) “<i>Recognition and Measurement of Financial Assets and Financial Liabilities.”</i> The FASB issued this update to make limited amendments to the guidance in U. S. GAAP on the classification and measurement of financial instruments. This update significantly revises an entity’s accounting related to the classification and measurement of investments in equity securities and the presentation of certain fair value changes for financial liabilities measured at fair value. It also amends certain disclosure requirements associated with the fair value of financial instruments. The update will take effect for public companies for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company believes that ASU No. 2016-01 will not have a material effect on its consolidated financial statements and related disclosures.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif; COLOR: #1a1a1a" align="justify">In May 2014, FASB issued ASU No. 2014-09, Revenue from Contracts with Customers, on revenue recognition. The new standard provides for a single five-step model to be applied to all revenue contracts with customers as well as requires additional financial statement disclosures that will enable users to understand the nature, amount, timing and uncertainty of revenue and cash flows relating to customer contracts. Companies have an option to use either a retrospective approach or cumulative effect adjustment approach to implement the standard. Accounting Standards Update No. 2014-09 is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Early adoption is permitted, but not before the original effective date of the standard. The Company is currently evaluating the impact of the new guidance on our consolidated financial statements.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
	us-gaap	Use Of Estimates UseOfEstimates	<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><i>Use of Estimates</i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Although management bases its estimates on historical experience and various other assumptions that are believed to be reasonable under the circumstances, actual results could differ from these estimates.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2014	enzn	Royalty Revenues From Sales Percentage RoyaltyRevenuesFromSalesPercentage	0.8	pure
	us-gaap	Income Taxes Paid IncomeTaxesPaid	0	USD
	us-gaap	Interest Paid Net InterestPaidNet	0	USD
CY2015Q2	us-gaap	Dividends Payable Amount Per Share DividendsPayableAmountPerShare	0.50
CY2015Q2	us-gaap	Dividends Payable Current And Noncurrent DividendsPayableCurrentAndNoncurrent	22100000	USD
CY2015Q1	us-gaap	Deferred Tax Assets Valuation Allowance DeferredTaxAssetsValuationAllowance	2500000	USD
CY2015Q2	enzn	Royalty Revenues From Sales Percentage RoyaltyRevenuesFromSalesPercentage	0.67	pure
CY2016Q2	us-gaap	Income Taxes Paid IncomeTaxesPaid	135000	USD
	enzn	Employee Service Share Based Compensation Tax Payments EmployeeServiceShareBasedCompensationTaxPayments	6000	USD

Files In Submission

Name	View Source	Status
0001144204-16-118076-index-headers.html	Edgar Link	pending
0001144204-16-118076-index.html	Edgar Link	pending
0001144204-16-118076.txt	Edgar Link	pending
0001144204-16-118076-xbrl.zip	Edgar Link	pending
enzn-20160630.xml	Edgar Link	completed
enzn-20160630.xsd	Edgar Link	pending
enzn-20160630_cal.xml	Edgar Link	unprocessable
enzn-20160630_def.xml	Edgar Link	unprocessable
enzn-20160630_lab.xml	Edgar Link	unprocessable
enzn-20160630_pre.xml	Edgar Link	unprocessable
FilingSummary.xml	Edgar Link	unprocessable
Financial_Report.xlsx	Edgar Link	pending
R1.htm	Edgar Link	pending
R10.htm	Edgar Link	pending
R11.htm	Edgar Link	pending
R12.htm	Edgar Link	pending
R13.htm	Edgar Link	pending
R14.htm	Edgar Link	pending
R15.htm	Edgar Link	pending
R16.htm	Edgar Link	pending
R17.htm	Edgar Link	pending
R18.htm	Edgar Link	pending
R19.htm	Edgar Link	pending
R2.htm	Edgar Link	pending
R20.htm	Edgar Link	pending
R21.htm	Edgar Link	pending
R22.htm	Edgar Link	pending
R23.htm	Edgar Link	pending
R24.htm	Edgar Link	pending
R25.htm	Edgar Link	pending
R3.htm	Edgar Link	pending
R4.htm	Edgar Link	pending
R5.htm	Edgar Link	pending
R6.htm	Edgar Link	pending
R7.htm	Edgar Link	pending
R8.htm	Edgar Link	pending
R9.htm	Edgar Link	pending
report.css	Edgar Link	pending
Show.js	Edgar Link	pending
v446266_10q.htm	Edgar Link	pending
v446266_ex31-1.htm	Edgar Link	pending
v446266_ex31-2.htm	Edgar Link	pending
v446266_ex32-1.htm	Edgar Link	pending
v446266_ex32-2.htm	Edgar Link	pending

Create your account

Find Stocks Worth Researching

Deeply Understand Businesses

Value Businesses Intelligently

$ENZN
ENZON PHARMACEUTICALS, INC. Stock $enzn

2016 Q2 Form 10-Q Financial Statement

#000114420416118076 Filed on August 10, 2016

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$ENZN ENZON PHARMACEUTICALS, INC. Stock $enzn

2016 Q2 Form 10-Q Financial Statement

#000114420416118076 Filed on August 10, 2016

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$ENZN
ENZON PHARMACEUTICALS, INC. Stock $enzn