v3.25.3

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Revenues:
Royalties and milestones, net				$ 26
Total revenues				26
Operating expenses:
General and administrative	$ 229	$ 351	$ 1,038	1,028
Transaction expenses	1,075		2,801
Total operating expenses	1,304	351	3,839	1,028
Operating loss	(1,304)	(351)	(3,839)	(1,002)
Interest and dividend income	496	654	1,494	1,906
(Loss) income before income (expense) benefit	(808)	303	(2,345)	904
Income tax (expense) benefit	(16)	(49)	7	(54)
Net (loss) income	(824)	254	(2,338)	850
Accretion of dividend on Series C preferred stock	(531)	(531)	(1,593)	(1,593)
Net loss available to common shareholders	$ (1,355)	$ (277)	$ (3,931)	$ (743)
Loss per common share
Basic (in dollars per share)	$ (0.02)	$ 0	$ (0.05)	$ (0.01)
Diluted (in dollars per share)	$ (0.02)	$ 0	$ (0.05)	$ (0.01)
Weighted average number of common shares - basic (in shares)	74,215	74,215	74,215	74,215
Weighted average number of common shares - diluted (in shares)	74,215	74,215	74,215	74,215

Revenue earned during the period from the leasing or otherwise lending to a third party the entity's rights or title to certain property. Royalty revenue is derived from a percentage or stated amount of sales proceeds or revenue generated by the third party using the entity's property and milestone revenue is arrive due to achievement of certain target in the project or phase.

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ENZON PHARMACEUTICALS, INC. 10-Q