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Enzon Pharmaceuticals, Inc. (ENZN)

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0.3687+0.0086 (+2.40%)
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  • j
    Isn't there suppose to be an announcement from the FDA today?

    BOTHELL, Wash. & TOKYO--(BUSINESS WIRE)--Seagen Inc. (Nasdaq:SGEN) and Astellas Pharma Inc. (TSE: 4503, President and CEO: Kenji Yasukawa, Ph.D., “Astellas”) today announced the U.S. Food and Drug Administration (FDA) filed two supplemental Biologics License Application (sBLA) submissions for PADCEV® (enfortumab vedotin-ejfv) for review as part of the Real-Time Oncology Review (RTOR) pilot program. The applications were granted Priority Review, with a target action date of August 17, 2021. The review of both applications will also be conducted under Project Orbis, an initiative of the FDA Oncology Center of Excellence."
  • B
    This will be .37 one day then $2-$3 one morning. Ichan waiting for the right deal. He has patience. I don't.
  • G
    From ENZON's 2nd qt 10-Q

    "We have a marketing agreement with Micromet AG, now part of Amgen, Inc. (the “Micromet Agreement”), pursuant to which we may be entitled to a share of certain milestone and royalty payments if Vicineum, a drug being developed by Sesen Bio, Inc. (“Sesen”), is approved for the treatment of non-muscle invasive bladder cancer. In a press release dated February 16, 2021, Sesen announced that the U.S. Food and Drug Administration (the “FDA”) has accepted for filing Sesen’s Biologic License Application (“BLA”) for Vicineum. The FDA further granted Priority Review, with a target Prescription Drug User Fee Act (“PDUFA”) date for a decision on the BLA of August 18, 2021. Accordingly, we earned a milestone of $409,430 in the first quarter of 2021, all of which was received by June 30, 2021. In a filing with the U. S. Securities and Exchange Commission (“SEC”) in March 2021, Sesen noted that it had received notice from the European Medicines Agency (“EMA”) that its Marketing Authorization Application (“MMA”) for Vicineum was found to be valid and the review procedure has officially started. Accordingly, we earned and received an additional milestone of $292,284 in the second quarter of 2021. Due to the challenges associated with developing and obtaining approval for drug products, and the lack of involvement by us in the development and approval process, there is substantial uncertainty as to whether we will receive additional milestone or any royalty payments under the Micromet Agreement. We will not recognize revenue until all revenue recognition requirements are met.
    Acquisition Activities
    Our Board of Directors and our management are actively involved in pursuing, sourcing, reviewing and evaluating various potential acquisition transactions consistent with our long-term strategy. Our management and Board of Directors have made a number of contacts and engaged in discussions with principals of individual companies and financial advisors on behalf of various individual companies, while continuing to evaluate potential transactions. To date, we have not developed any actionable transactions. We will continue to update our stockholders as material developments arise.

    From "

    common shares=74.2M
    preferred series C shares( Icahn shares)=40M to 43.6M
    accumulated deficit = 71.4M
    cash balance (including Icahn's) =48.3M
    dividend cost to preferred shares per qt= +/-506K (about 5%/yr)
    Icahn owns 40 % of common shares and 98% of preferred shares.

    I was not able to find any data as to what is being done with the over 48M cash. Are they investing it? is it in money markets? Is it earing any money to defray the dividend that is being paid to the preferred shareholders?
    SEC Filing | Enzon Pharmaceuticals
  • T
    why with the Pending Approval from SESN is this not trading higher they are so to make some serious money off this drug
  • M
    Enzon is already receiving some payments, according to latest 10-Q (8/5/21), from Sesen. Not a tremendous amount, but a start (in 2021).

    There is more to the story here than just Sesen (which still needs fda approval & substantial sales eventually for Vicineum), although Sesen certainly makes for an interesting dynamic, via old Micromet agreement.

    Icahn, et al.

    The current lag, or disconnect, should I think very likely be eliminated…one way or another.
  • J
    7 months.... zero news. Very disappointing.
  • V
    Despite the FDA denying approval for SESN prostate drug, the thesis of this being a SPAC for Solta later this year is still intact....for now....
  • J
    Market cap is getting close to the cash in the bank. And then there are $103MM in NOLS, and potential royalties from SESN, who is anticipating FDA approval by August. Hard to understand how this is trading at these prices.
  • A
    This correction doesn't even move me to sell one share. There's much better gains ahead for those who patiently wait.
  • B
    Great news with Vicineum today! I think it’s a slam dunk for approval in August. The fact that ENZN could get around $200 million over the next 10 years from royalties and milestone payments is huge.
    And this will just be extra income on the side. ENZN’s main plan is to buy a profitable company. This is where the real revenue will come from. The potential here is really insane. After Enzon finds a profitable company, I could see ENZN trading north of $10.
  • B
    There is no doubt that $ENZN is definitely a SPAC on steroids. The potential here is phenomenal. Something like $3.5 million in milestone payments for each region that Vicineum is approved helps. That alone could could be $10 extra million in cash. Also, royalty payments estimates of around $8 million average for 10 years is a lot of extra money too.
    All of this along with the existing cash and NOL’s makes $ENZN one of the best SPAC’s out there. It’s going to be a life changer for all of us holding a decent amount of shares
  • E
    Great volume to start the day!!! Not many shares for sale until .90, Level 2 is beautiful!
  • D

    Director Independence

    Although our Common Stock is no longer listed on The Nasdaq Stock Market (“Nasdaq”), our Board continues to use the definition of independence set forth in the listing standards of Nasdaq in evaluating the independence of our directors. Our Board has determined that each current member of our Board is independent as defined by the listing standards of Nasdaq.
  • H
    I think ENZN is looking at BHC's Derm or Solta business, both would be a great fit from a EV perspective and both are profitable which would benefit from the NOL's. Question is who would be CEO since leadership was always the problem in BHC's derm business.

    My personal hope is that Icahn (who said he was going to invest $1-1.5 billion in crypto) uses ENZN to buy a Crypto asset, not coins but rather some part of the infrastructure (wallet, trading platform, etc). That would make ENZN very interesting.
  • L
    Does anyone know what this will accomplish? 200 Million for what?

    Enzon Pharmaceuticals (OTCMKTS:ENZN) declared that its board has initiated a share buyback plan, which authorizes the company to buyback $200.00 million in outstanding shares on Tuesday, December 21st, EventVestor reports. This buyback authorization authorizes the biotechnology company to buy up to 26.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
  • B
    What are the odds that a deal is announced on or before Friday’s shareholder meeting? I think we are close IMO. Should be another high volume week for $ENZN
  • E
    ENZN 10K out, nothing worth noting except the mention of Vicineum Milestone and Royalty payments if the drug gets approved by August 18, 2021.
  • E
    Interesting stuff happening behind the scene on the Bid side. MMs out bidding each other looking for shares. Lets see if this leads to a price increase soon. Currently .70 x .7399