In a 13D filing on Enzon Pharmaceuticals Inc. (Nasdaq: ENZN), DellaCamera Capital disclosed a 5.2% stake (2,278,339 shares) in the company. The firm disclosed a letter to the company saying there is a troubling value disconnect in the stock. The firm requested the company hire an adviser to analyze various financial and structural options and implement a cohesive financial plan of action that would deliver increased value to the shareholders.
The firm said these options may include the rationalization of the Company's marketed products segment, including the sale of the Abelcet product line, along with the possible monetization of additional Company royalty interests. The firm said Enzon should also consider structural methods to unlock the value of the Company's LNA development platform.