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Enzon Pharmaceuticals Inc. Message Board

  • htgute htgute Aug 6, 2013 5:57 PM Flag

    earnings out

    No bombshells. Netted 4.5M for the Q, if I'm reading it right. They have 15M cash on hand. Royalty revenue down a fairly significant amount. They're doing a nice job of cutting costs. US sales of Pegintron continue to decline. Any opinions? Assuming they pay out dividends, like they've been saying, I see this as a pretty safe play. Over the next 4-5 years, just on royalties, they should be able to pay out the 81M in current market cap, unless Pegintron completely falls off the map (which it might). Royalties end in the US in 2016, Europe 2018, Japan 2019. For "rest of world" Enzon just says royalties end "varies by country"-- does anyone else find this concerning? considering the 'rest of the world' currently comprises their biggest royalty paycheck. Where's the announcement of the next divi?

    Sentiment: Hold

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    • Suggest looking-at/downloading the full Q2 report, the PR slice they provide is clearly meant to damage the stock price imo. Firstly, full royalty revenue for first 6 months of 2013 was $17.6m, versus $20.1m for same period 2012, or down 12%. Secondly, administrative costs in Q2 2013 $2.4m, this needs to be looked at/explained, at this rate it will cost $10m for the year to keep the books, over 25% of the income to do what?!?

      Where's the announcement? These people are white collar crooks, they're not going to announce sht.

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