Enzon Pharmaceuticals, INC

Market Movers (8-K)

OQB
Viskase Holdings, Inc. entered into a Seventh Amendment to its credit agreement, extending the maturity date to August 2027 and adjusting interest rates.
OQB
Viskase Holdings, Inc. has appointed Grant Thornton LLP as its new independent registered public accounting firm following its recent merger.
OQB
Viskase Holdings, Inc. has appointed Michael Blecic as Chief Financial Officer and Joseph D. King as Executive Vice President.
OQB
Enzon Pharmaceuticals, Inc. has completed its merger with Viskase Companies, Inc., rebranding as Viskase Holdings, Inc. and focusing on the combined entity's core business.
OQB
Enzon Pharmaceuticals, Inc. announced the completion of its exchange offer for Series C Non-Convertible Redeemable Preferred Stock.
OQB
Enzon Pharmaceuticals, Inc. announced a 1-for-100 reverse stock split effective March 24, 2026, and extended its Section 382 Rights Agreement to March 26, 2026, in preparation for its merger with Viskase Companies, Inc.
Capital raise
Delay expected

Quarterly Earnings (10-Q)

OQB
Viskase Holdings, Inc. reported a net loss of $5.13 million for the second quarter of 2026, with net sales decreasing by 7.3% year-over-year, while facing substantial doubt regarding its ability to continue as a going concern.
Capital raise
Worse than expected
OQB
Viskase Holdings, Inc. reported a net loss of $6.7 million for the first quarter ended March 31, 2026, with net sales decreasing 8.1% year-over-year, impacted by volume declines and restructuring efforts.
Capital raise
Worse than expected
OQB
Enzon Pharmaceuticals reported a net loss for Q3 2025 and the nine months ended September 30, 2025, while announcing an amendment to its merger agreement with Viskase Companies, Inc., extending the closing date and adjusting ownership.
Worse than expected
Delay expected
OQB
Enzon Pharmaceuticals reported a net loss for Q2 2025, with cash declining, and detailed significant shareholder dilution and NOL limitations from its pending merger with Viskase.
Worse than expected
Capital raise
OQB
Enzon Pharmaceuticals, a public company acquisition vehicle, reported its Q1 2025 financial results, showing a net loss and ongoing efforts to identify and pursue acquisition opportunities.
Worse than expected
OQB
Enzon Pharmaceuticals reported its financial results for the third quarter of 2024, highlighting a net loss available to common stockholders of $277,000 and continued efforts to identify a suitable acquisition target.
Worse than expected

Annual Reports (10-K)

OQB
Viskase Holdings, Inc. (formerly Enzon Pharmaceuticals, Inc.) has filed an amendment to its 2025 Form 10-K to include required Part III information, detailing corporate governance, executive compensation, and related party transactions following its merger with Viskase Companies.
OQB
Enzon Pharmaceuticals, Inc. reported a net loss of $3.4 million for 2025, driven by merger-related expenses, as it progresses with its acquisition by Viskase Companies, Inc.
Worse than expected
Delay expected
OQB
Enzon Pharmaceuticals files an amendment to its 2024 Annual Report on Form 10-K to include Part III information and an updated certification from its principal executive and financial officer.
OQB
Enzon Pharmaceuticals continues its pursuit as a public acquisition vehicle, reporting a net income of $778,000 for 2024 driven by interest income.
OQB
Enzon Pharmaceuticals has filed an amendment to its annual report to include previously omitted information regarding directors, executive compensation, and related matters.
Delay expected
OQB
Enzon Pharmaceuticals reported a net income of $1.373 million for 2023, primarily driven by interest income, while continuing its search for acquisition opportunities to utilize its net operating loss carryforwards.
Better than expected

Insider Trading (Form 4)

OQB
Carl C. Icahn and affiliated entities reported significant changes in beneficial ownership of Viskase Holdings, Inc. common stock following a merger and reverse stock split.
OQB
Enzon Pharmaceuticals, Inc. announced the successful completion of its exchange offer relating to Series C Non-Convertible Redeemable Preferred Stock.
OQB
Enzon Pharmaceuticals, Inc. announced a 1-for-100 reverse stock split and extended its Section 382 Rights Agreement, both in preparation for its merger with Viskase Companies, Inc.
OQB
Enzon Pharmaceuticals, Inc. announced an extension to its exchange offer for Series C Preferred Stock, now expiring on March 24, 2026, in connection with its proposed merger with Viskase Companies, Inc.
Delay expected
OQB
Enzon Pharmaceuticals, Inc. has announced the tenth amendment to its Section 382 Rights Agreement, extending the expiration date to March 24, 2026.
OQB
Enzon Pharmaceuticals, Inc. announced an extension of its exchange offer for Series C Preferred Stock until March 19, 2026, in connection with its proposed merger with Viskase Companies, Inc.
Delay expected

Proxy Statements (Def-14A)

OQB
Enzon Pharmaceuticals will hold its 2024 Annual Meeting of Stockholders on September 26, 2024, to vote on director elections, auditor ratification, executive compensation, and an amendment to the Section 382 Rights Agreement.
OQB
Enzon Pharmaceuticals will hold its 2024 annual meeting on September 26, 2024, to vote on director elections, ratification of the accounting firm, executive compensation, and an extension to the Section 382 Rights Agreement.

Schedule 13D - Activist Investments

OQB
Icahn-affiliated entities increased their beneficial ownership in Viskase Holdings to 93.7% following the completion of the Viskase Companies merger and a preferred stock exchange.
OQB
Icahn Enterprises affiliates have provided written consent to the merger and certificate of incorporation amendment for Enzon Pharmaceuticals, Inc.
OQB
Enzon Pharmaceuticals and Viskase amend their merger agreement, adjusting ownership stakes, extending the deadline, and securing continued support from Icahn Enterprises.
Delay expected
OQB
Enzon Pharmaceuticals, Inc. announced a definitive merger agreement with Viskase Companies, Inc., a transaction expected to result in Icahn Enterprises Holdings L.P. beneficially owning approximately 91% of the combined entity, Viskase Holdings, Inc.