SmarTrend(R) News Watch: Enzon Pharmaceuticals Reports Mixed Results

Posted on: Thu, 19 Feb 2009 10:22:00 EST


Symbols: ENZN
Feb 19, 2009 (SmarTrend(R) News Watch via COMTEX) --
ENZN | Quote | Chart | News | PowerRating -- Enzon Pharmaceuticals, Inc. (NASDAQ:ENZN) reported a Q4 loss of $500K, or $0.01 per fully diluted share, beating analyst estimates for a loss of $0.16 per share. Net revenues for the quarter were flat year-over-year at $48.1 million, short of the analyst consensus estimate for $50.4 million. The Company expects to spend approximately 40% of the $80 to $90 million R&D budget on the next-generation Adagen and Oncaspar programs and remain operating cash flow neutral. Jeffrey H. Buchalter, chairman and chief executive officer of the Company, said "Enzon continues to improve the fundamentals of the Company, as seen in the improvement of the balance sheet and operational efficiencies."

newsdesk@comtex.com

SmarTrend scans over 5,000 stocks daily and alerts you when a change in trend is identified. Visit http://www.mysmartrend.com for more details.

Want to license news for your website? Visit http://www.comtex.com to discover how you can get customized news relevant to your site.

For full details on Enzon Pharmaceuticals Inc (ENZN) ENZN. Enzon Pharmaceuticals Inc (ENZN) has Short Term PowerRatings at TradingMarkets. Details on Enzon Pharmaceuticals Inc (ENZN) Short Term PowerRatings is available at This Link.

UPCOMING EVENTS
Learn new strategies, how to trade in this market, and the stocks you should be focusing on each day. Join us for our free 20 minute tele-seminars during the week.
Thursday February 11 04:30 PM
* Attendance is strictly limited and are filled on a first-come, first-served basis.