Enzon Pharmaceuticals, Inc. Security Rating

Enzon Pharmaceuticals receives royalty revenues from existing licensing arrangements with other companies primarily related to sales of four marketed drug products, namely, PegIntron, Sylatron, Macugen and CIMZIA.The primary source of the Company’s royalty revenues is sales of PegIntron, which is marketed by Merck & Co.The Company currently has no clinical operations and limited corporate operations. The Company was previously dedicated to the research and development of innovative therapeutics for patients with high unmet medical needs. The Company wound down its remaining research and development activities during 2013 and has no intention of resuming any clinical development activities or acquiring new sources of royalty revenues.