Enzon Pharmaceuticals, Inc. Announces Reduction In Workforce

Enzon Pharmaceuticals, Inc. announced that it is implementing a plan to reduce its workforce and operating costs to more closely align its resources with the Company`s research and development activities. The reduction in force will reduce the number of employees by approximately 48%, to a total of 47, effective June 2012. Enzon expects the reduction in force to result in approximately $6.0 million in reduced annualized operating expenses once the plan is fully implemented by the second quarter of 2012.