BRIDGEWATER, N.J.--(BUSINESS WIRE)--Enzon Pharmaceuticals, Inc. (Nasdaq: ENZN) today announced its financial results for 2007. For the three months ended December 31, 2007, Enzon reported net income of $0.3 million or $0.01 per diluted share, as compared to a net loss of $13.6 million or $0.31 per diluted share for the fourth quarter of 2006. For the full year ended December 31, 2007, Enzon reported net income of $83.1 million or $1.29 per diluted share, compared to a net income of $21.3 million or $0.46 per diluted share for the full year ended December 31, 2006. The Company’s financial results in 2007 were favorably impacted by the sale of 25 percent of its future PEG-Intron royalty for a gain of $88.7 million. The 2006 net income was primarily a result of the gain on the sale of the Company’s Nektar equity assets of $13.8 million and the $6.7 million gain from the repurchase of its 4.5 percent convertible notes due in 2008 at discount to par.
