Enzon Pharmaceuticals Inc. (ENZN)

[aquaspin]

Well said. I think what will cause ENZN to move higher is the “substantial” potential income (as said in the 10-K) from royalty payments along with various milestone payments. Per Sesen estimates, Enzon could see up to $20 million a year for 10 years from Vicineum royalties. On top of that ENZN would get $3.5 million in milestone payments from each country the drug is approved in.

That is a decent amount of tax free income for ENZN.

And last but not least is that ENZN (per its website and 10-K) is a Public Acquisition Vehicle where it will be an acquisition platform. If we see a decent sized profitable company merge with ENZN, along with the royalties, we could see a substantial higher share price for ENZN.

I’m hoping Icahn will be able to find a great company to use ENZN to go public and utilize its NOL’s.

Also, according to the 10-K, it sounds like ENZN has the option of buying back the preferred shares. Maybe this is something they may do with the milestone and royalty income.