Enzon Executes Reverse Stock Split Ahead of Viskase Merger

An update from Enzon Pharmaceuticals ( (ENZN) ) is now available.

On March 23, 2026, Enzon Pharmaceuticals entered into an eleventh amendment to its Section 382 Rights Agreement, extending the final expiration of the rights from March 24 to March 26, 2026, with all other terms unchanged. Management stated that this brief extension of the tax-focused rights plan is in the best interests of the company and its stockholders, maintaining protections around its equity structure ahead of key corporate actions.

On March 24, 2026, Enzon announced that a previously approved 1‑for‑100 reverse stock split would become effective that day at 4:30 p.m. Eastern, with the stock expected to begin trading on a split‑adjusted basis on the OTCQB under the temporary symbol ENZND on March 25. The reverse split, which consolidates every 100 common shares into one and settles fractional positions in cash, was undertaken to free up authorized shares needed to complete the anticipated merger with Viskase and an associated exchange offer for its Series C preferred stock, with the exchange offer set to expire at 5:00 p.m. Eastern on March 24, 2026 and the merger closing expected as soon as practicable thereafter.

More about Enzon Pharmaceuticals

Enzon Pharmaceuticals, Inc., together with its subsidiary, is positioned as a public company acquisition vehicle that has sought to become an acquisition platform. The company’s shares trade on the OTCQB market and it is currently being used as the corporate vehicle for a planned merger with Viskase Companies, Inc., aligning its activities around transactional and capital markets objectives.

Average Trading Volume: 78,001

Technical Sentiment Signal: Sell

Current Market Cap: $4.45M

For a thorough assessment of ENZN stock, go to TipRanks’ Stock Analysis page.