They have several drugs that are licensed to other pharmacutical companies. As sales are made, Enzon collects royalties or license fees. These agreements are in place until at least 2016 and I believe that they have a fairly large NOL. They have been paying a dividend as cash is available, although the $.10 payout in January is relatively small compared to cash on balance sheet. The company has only one employee with everything else outsourced. Hope this helps. Look at the recent 10k.
Interesting day for this stock, up 15% on six times normal volume on no news. Why do things like this happen? Who knows something about this stock and it's move from $1.00 to $1.23 in the last two days?
for the dividend butter.
And the Belrose Pharma website is a bit fatter since the last time I looked at it. Now they at least have a management team listed.
Long term sentiment disclosure: When the buttermilk stops being "special" , maybe they will use it to make a biscuit that can rise.