You obviously haven't done your homework. Enzon holds 49 patents in the US, the vast majority of them will be in force well past the year 2020. Note that US patents filed after 1995 have a 20 year life from the date of first filing. (Witnessing their diligance with patent filings worldwide for the early filiings, my speculation is that their ww patent position is comparable to that of the earlier patents, but I have not checked this).
It is true that many of the early US patents that they currently derive their US royalties from will expire in 2015 and 2016, and this is the main limitation on the bulk of the US side royalties (everybody is more than aware of this). Nevertheless the overwhelming number of their patents which represent many advances on the earlier technologies as well as many of the newer pipeline developments are in place and will be for a very ong time.
I am just happy we are moving up again- this downslide has been tough to take- even though I realize the price is somewhat inconsequential as a buyer is being sought. and will get our return+ when this happens.
Stop looking at then share price. get the annual report, 8 K from 2 years ago. the company said it want to sell itself and EVERYTHING POINTS TO THAT.
Patience is what prevents a lot of people from hitting it big with stocks. read and see the caliber of people in the deal/ownership
you shall be rewarded