Since 2010 Enzon Pharmaceuticals, Inc. (ENZN) has been divesting itself of business units, discontinuing development of products in its pipeline, laying off approximately 80% of its workforce (ultimately), and even selling its proprietary technology - patents and all. Initially, this seemed to be an attempt to develop its two principle technologies - PEGylation and Locked Nucleic Acid (LNA) - without incurring excessive debt; it became clear, however, that its latest efforts may have been in response to pressure concerning its operations and planning.
The question now is: is there anything of value left in Enzon, and, if so, is it worth pursuing?
Enzon was founded in the early 1980s by Drs. Frank F....