Enzon Pharma to explore sale of company

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Enzon Pharma to explore sale of company

(Reuters) - Biotechnology company Enzon Pharmaceuticals Inc said it would explore a possible sale of the company or its corporate assets. The company also said that based on clinical data it plans to suspend development of its prostate cancer program, which is being tested in an early-stage trial, to conserve capital. Enzon had total cash, cash equivalents and marketable securities of $288.7 million as of September 30. The company said it has retained Lazard as financial adviser for the review of the potential sale of one or more corporate assets or the entire company. ...

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