Navigation Links
Major Shareholders Criticize Enzon Pharmaceuticals Management Team in Open Letter
Date:1/30/2009

Investors Specify Concerns and Propose Remedies to Enzon CEO Jeffrey Buchalter and the Board of Directors

NEW YORK, Jan. 30 /PRNewswire/ -- On January 28, 2009, Knott Partners and affiliated funds, which own approximately 1.8 million shares of outstanding common stock of Enzon Pharmaceuticals, sent the following letter to the company. The letter, addressed to Enzon CEO Jeffrey Buchalter as well as the Board of Directors, expresses the investor group's serious concerns about Enzon's management, strategy and share price. It proposes four steps the company should take in the immediate future to rebuild its market value and reputation.

The full text of the letter to Enzon Pharmaceuticals is below. For more information, please contact Pat Eaton-Buettner at Knott Partners at (516) 364-0303 or PBuettner@knottpartners.com.

Dear Mr. Buchalter:

Entities managed by Dorset Management/Knott Partners are significant shareholders of Enzon Pharmaceuticals ("Enzon" or the "Company"), currently owning approximately 1.8 million shares of common stock. We write to express our concerns regarding the direction of the Company.

Over the past five years, ENZN's stock price has been a huge disappointment to shareholders. While we applaud certain of management's initiatives, such as monetizing part of the royalty stream and licensing pharmaceutical programs, the stock has declined from a high of more than $17 in 2004 to its recent price of approximately $6.60 (after plunging below $4 last November). At the same time, the Company's board has seen fit to compensate management very handsomely over this same time period.

In our opinion, Enzon continues to trade at a deep discount to its actual value as a consequence o
'/>"/>

SOURCE Knott Partners
Copyright©2009 PR Newswire.
All rights reserved

Page: 1 2 3

Related medicine news :

1. Omnicell is Awarded Contract by Major National Academic Medical Center
2. CHPA, Nielsen: OTC Heartburn Therapy Saves Nearly $800 Million Annually, Vast Majority of OTC Heartburn Consumers Satisfied
3. First-Ever Over-the-Counter Dual Action Iron Supplement Available at Major Retail Outlets in the United States; Bifera is a New, Innovative Dual Iron Supplement Now on the Market
4. Peptimmune Grants Major Pharmaceutical Company Exclusive Option to License PI-2301 for Multiple Sclerosis
5. Fattah Calls SCHIP Vote Major Stride in Expanding Health Care
6. First-of-Its Kind Study: Medicare for All (Single-Payer) Reform Would Be Major Stimulus for Economy With 2.6 Million New Jobs, $317 Billion in Business Revenue, $100 Billion in Wages
7. Ambulatory Services of America, Inc. Completes Purchase of Majority Interest in Rosa of Georgia, LLC
8. Food and Drug Law Institute Sponsors Major Conference on Nanotechnology Law, Regulation and Policy
9. New Survey Reveals Majority of Women of Child-Bearing Age Unaware Folic Acid Should Be Consumed Before Pregnancy
10. Selflessness, core of all major world religions, has neuropsychological connection
11. Rotary Action Group Helps Launch Major Public-Private HIV Prevention Initiative in Kenya
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/14/2014)... treat children with uncomplicated acute appendicitis is a reasonable ... fewer missed school days, according to a pilot study. ... Hospital and published online April 12 in the ... the first prospective study on nonoperative management of acute ... , Researchers enrolled 77 patients age 7 to 17 ...
(Date:4/14/2014)... 2014, Perth, Australia. Drug discovery company Proteomics International ... of a companion diagnostic (CDx) test with the ... The research team authenticated the panel of biomarkers ... samples. Seven biomarkers were validated at high stringency ... The mass spectrometry data was then cross-validated using ...
(Date:4/14/2014)... 2014) When it comes to the cost and ... Patients get the best care when they are treated ... extensive experience in their current job, according to a ... and Columbia Business School. The study was published in ... Applied Economics . , The review of more ...
(Date:4/13/2014)... STANFORD, Calif. A low-cost empowerment program for ... and sexual harassment of these girls, who live ... and are frequently attacked, a large new study ... Stanford University School of Medicine, Lucile Packard Children,s ... No Worldwide, validated the program,s effectiveness in combating ...
(Date:4/11/2014)... the processes that control brain cell production could pave ... brain-related disorders. , Scientists have gained new understanding of ... how and when nerve and brain cells are formed ... and keeps it healthy. Their findings could help explain ... which is a fundamental characteristic of many diseases including ...
Breaking Medicine News(10 mins):Health News:Antibiotics alone are a successful treatment for uncomplicated acute appendicitis in kids 2Health News:Antibiotics alone are a successful treatment for uncomplicated acute appendicitis in kids 3Health News:Longer nurse tenure on hospital units leads to higher quality care 2Health News:Empowerment program greatly decreases incidence of rape, Stanford/Packard-led study finds 2Health News:Empowerment program greatly decreases incidence of rape, Stanford/Packard-led study finds 3Health News:Empowerment program greatly decreases incidence of rape, Stanford/Packard-led study finds 4
... their effort to ensure,this generation of veterans is ... partnered with St. Johns, University School,of Risk Management, ... (IICF) on a three-day "Warriors to Work" Insurance,Industry ... wounded,warriors, most of whom were from the New ...
... is the best available option for people with hemochromatosis ... is often dismissed as a primitive form of medicine, ... of bad humors by draining the life-sustaining fluid. , ... is still the preferred means of treatment. , Hemochromatosis ...
... quality of care, communication and productivity,to new levels, while improving ... ... disciplines of care, PITTSBURGH, Aug. 25 Vocollect Healthcare ... retirement,community located in Wyomissing, Pennsylvania, will deploy AccuNurse(R),voice- assisted care ...
... Fitness tops competition on Inc. 5000 list ... rakes in revenue and new members, DOVER, N.H., ... for its "Judgment Free" atmosphere and friendly prices, earned,the ... 2008 list of,the 5,000 fastest-growing private businesses in the ...
... be racing faster this fall for every medical student in ... student and resident must pass will be delivered in a ... a skill that some say has become an Achilles heel ... doctors and residents out there taking this test know they ...
... and supplies to the EMS market, announced today the release of ... design first introduced to the EMS community in 1999. , ... ... [Hartwell Medical], a leading supplier of [emergency medical equipment] and ...
Cached Medicine News:Health News:Wounded Warrior Project (WWP), St. John's University, and Insurance Industry Charitable Foundation Partner to Assist Wounded Warriors 2Health News:For Rare Blood Disorder, Pumping Iron Is the Cure 2Health News:For Rare Blood Disorder, Pumping Iron Is the Cure 3Health News:The Highlands at Wyomissing Invests in Voice-Assisted Care to Take Excellence in Retirement Living to New Levels 2Health News:The Highlands at Wyomissing Invests in Voice-Assisted Care to Take Excellence in Retirement Living to New Levels 3Health News:N.H.-Based Health Club Operator Sets The Industry's Pace 2Health News:Listen up! 2Health News:Hartwell Medical Announces Release of CombiCarrierII Scoop Backboard to EMS Market 2Health News:Hartwell Medical Announces Release of CombiCarrierII Scoop Backboard to EMS Market 3
(Date:1/15/2014)... , Jan. 15, 2014  Research and Markets ... the "Dental Consumables Market - Global Industry ... - 2018" report to their offering. ... ) Dental consumables are products which are ... impairments, for tooth restoration and in treatment of ...
(Date:1/15/2014)... , Jan. 15, 2014  Novation, the leading ... company, awarded several new IT value-added reseller (VAR) ... hospital organizations with IT goods and services at ... agreements, as well as value-added services such as ... New Novation agreements were awarded to ...
(Date:1/15/2014)... DUBLIN , January 15, 2014 ... that it has waived the Office of Fair Trading (OFT) ... the outstanding shares of ViroPharma Incorporated (NASDAQ: VPHM).   ... no longer conditional on OFT approval, and Shire expects to ... currently scheduled expiration time, subject to the satisfaction of all ...
Breaking Medicine Technology:Dental Consumables Market - Global Industry Analysis, Size, Share, Growth, Trends And Forecast, 2013 - 2018 2Dental Consumables Market - Global Industry Analysis, Size, Share, Growth, Trends And Forecast, 2013 - 2018 3New Novation Information Technology VAR Contracts Offer Significant Savings to Hospitals 2Shire Waives OFT Condition Relating to the Acquisition of ViroPharma Inc. 2Shire Waives OFT Condition Relating to the Acquisition of ViroPharma Inc. 3
... 1 Abnormalities in auditory and language processing may ... using magnetoencephalography (MEG), according to a study presented today ... North America (RSNA). , , ... fields associated with electrical brain activity," said Timothy Roberts, ...
... whose eyes are misaligned and point outward are at significantly ... to findings of a Mayo Clinic study published this ... Academy of Pediatrics. , , ... with strabismus (misaligned eyes) and compared them with records of ...
Cached Medicine Technology:Brain Waves Show Sound Processing Abnormalities in Autistic Children 2Brain Waves Show Sound Processing Abnormalities in Autistic Children 3Eye Divergence in Children Triples Risk of Mental Illness 2
... name: ferumoxides) is Advanced Magnetics' contrast agent for ... lesions. It is the first organ-specific MRI contrast ... natural function, the agent is taken up by ... not in most tumors. The liver is a ...
... new Contrast Agent for Ultrasonography ... stabilized SF6 microbubbles. The size ... 1 and 10 m, and ... and 5 x 108 per ...
... in 1996, VISIPAQUE is the only isosmolar contrast ... osmolality equal to that of blood, VISIPAQUE was ... also the only contrast medium formulated with sodium ... In 1997, VISIPAQUE received FDA approval for use ...
... (iopromide) injection is a nonionic, iodinated, ... administration. Introduced in the U.S. in ... in Europe, ULTRAVIST today is ... has established a positive clinical experience ...
Medicine Products: