BRIDGEWATER, N.J.--(BUSINESS WIRE)--Enzon Pharmaceuticals, Inc. (Nasdaq: ENZN) today announced it has successfully reduced the remaining portion of its 2008 debt to only $12.5 million. In August 2007, the Company strategically monetized 25 percent of its future royalties of PEG-INTRON for proceeds of $92.5 million. A portion of the proceeds were restricted for the sole purpose of eliminating the remaining 2008 debt balance. In addition to the purchases in the fourth quarter of 2007, the Company successfully purchased another $59.9 million on favorable terms in January 2008.
