Enzon Pharma Files 3Q 2024 10-Q
Ticker: ENZN · Form: 10-Q · Filed: Nov 5, 2024 · CIK: 727510
Sentiment: neutral
Topics: 10-Q, financials, preferred-stock
TL;DR
Enzon Pharma 10-Q filed. Focus on Series C Preferred Stock financials for 2023-2024.
AI Summary
Enzon Pharmaceuticals, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial information and business operations. Key financial data points and disclosures related to preferred stock, specifically Series C Preferred Stock, are presented for various reporting periods throughout 2023 and 2024.
Why It Matters
This filing provides investors with an update on Enzon Pharmaceuticals' financial health and operational status for the third quarter of 2024, crucial for investment decisions.
Risk Assessment
Risk Level: low — The filing is a routine quarterly report and does not indicate any immediate or significant new risks.
Key Numbers
- 20240930 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
- 20241105 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)
Key Players & Entities
- ENZON PHARMACEUTICALS, INC. (company) — Filer of the 10-Q report
- 20240930 (date) — End of the reporting period
- 20241105 (date) — Filing date of the report
- Series C Preferred Stock (security) — Key financial instrument detailed in the filing
FAQ
What is the primary focus of the financial disclosures in this 10-Q filing?
The filing specifically highlights financial data and disclosures related to Enzon Pharmaceuticals, Inc.'s Series C Preferred Stock across various reporting periods in 2023 and 2024.
For which fiscal quarter is this 10-Q report filed?
This 10-Q report is filed for the fiscal quarter ending September 30, 2024.
When was this 10-Q filing submitted to the SEC?
The filing was submitted on November 5, 2024.
What is the Standard Industrial Classification (SIC) code for Enzon Pharmaceuticals, Inc.?
The SIC code listed for Enzon Pharmaceuticals, Inc. is 2836, which corresponds to Biological Products (No Diagnostic Substances).
What are the business and mailing addresses provided for Enzon Pharmaceuticals, Inc.?
The business and mailing addresses are both listed as 20 Commerce Drive, Suite 135, Cranford, NJ 07016.
Filing Stats: 4,675 words · 19 min read · ~16 pages · Grade level 14.7 · Accepted 2024-11-05 16:05:55
Filing Documents
- enzn-20240930x10q.htm (10-Q) — 779KB
- enzn-20240930xex31d1.htm (EX-31.1) — 13KB
- enzn-20240930xex32d1.htm (EX-32.1) — 6KB
- 0001410578-24-001747.txt ( ) — 3261KB
- enzn-20240930.xsd (EX-101.SCH) — 31KB
- enzn-20240930_cal.xml (EX-101.CAL) — 19KB
- enzn-20240930_def.xml (EX-101.DEF) — 98KB
- enzn-20240930_lab.xml (EX-101.LAB) — 219KB
- enzn-20240930_pre.xml (EX-101.PRE) — 170KB
- enzn-20240930x10q_htm.xml (XML) — 338KB
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION 3 Item 1.
Financial Statements
Financial Statements 3 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 14 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 18 Item 4.
Controls and Procedures
Controls and Procedures 18
– OTHER INFORMATION
PART II – OTHER INFORMATION 18 Item 1.
Legal Proceedings
Legal Proceedings 18 Item 1A.
Risk Factors
Risk Factors 19 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 19 Item 3. Defaults Upon Senior Securities 19 Item 4. Mine Safety Disclosures 19 Item 5. Other Information 19 Item 6. Exhibits 19
Signatures
Signatures 21 2 Table of Contents
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements. ENZON PHARMACEUTICALS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share and per share amounts) September 30, December 31, 2024 2023 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 46,633 $ 47,012 Other current assets 337 331 Total current assets 46,970 47,343 Deferred tax asset 306 359 Total assets $ 47,276 $ 47,702 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 331 $ 331 Accrued expenses and other current liabilities 107 108 Dividends payable on Series C preferred stock — 1,275 Total current liabilities 438 1,714 Commitments and contingencies Mezzanine equity: Series C preferred stock - $ 0.01 par value, 40,000 shares authorized, issued and outstanding (liquidation value $ 1,089 and $ 1,062 per share) at September 30, 2024 and December 31, 2023 44,076 42,483 Stockholders' equity: Preferred stock - $ 0.01 par value, authorized 2,960,000 shares; no shares issued and outstanding at September 30, 2024 and December 31, 2023 — — Common stock - $ 0.01 par value, authorized 170,000,000 shares; issued and outstanding 74,214,603 shares at September 30, 2024 and December 31, 2023 742 742 Additional paid-in capital 71,840 73,433 Accumulated deficit ( 69,820 ) ( 70,670 ) Total stockholders' equity 2,762 3,505 Total liabilities, mezzanine equity and stockholders' equity $ 47,276 $ 47,702 The accompanying notes are an integral part of these condensed consolidated financial statements. 3 Table of Contents ENZON PHARMACEUTICALS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share amounts) (Unaudited) Three months ended Nine months ended September 30, September 30, 2024 2023 2024 2023 Revenues: License fees $ — $ — $ 26 $ — Total revenues — — 26 — Operating expenses: Gen