enzon pharmaceuticals inc (ENZN) Key Developments
Enzon Pharmaceuticals Inc. Announces Special Cash Dividend, Payable on January 28, 2015
Dec 5 14
On December 4, 2014, the Board of Directors of Enzon Pharmaceuticals Inc. declared a special cash dividend of $0.10 per share of the company's common stock, payable on January 28, 2015 to stockholders of record as of January 12, 2015.
Enzon Pharmaceuticals Inc.(NasdaqCM:ENZN) dropped from Russell 2000 Index
Jun 30 14
Enzon Pharmaceuticals Inc. will be removed from the Russell 2000 Index.
Enzon Pharmaceuticals Inc.(NasdaqCM:ENZN) dropped from Russell 3000 Index
Jun 30 14
Enzon Pharmaceuticals Inc. will be removed from the Russell 3000 Index.
Enzon Pharmaceuticals Receives Non-Compliance Notice From NASDAQ
Jun 12 14
On June 10, 2014, Enzon Pharmaceuticals, Inc. received a letter from the Listing Qualifications staff of The NASDAQ Stock Market LLC (“Nasdaq”) indicating that, based upon the closing bid price of the Company’s common stock for the last 30 consecutive business days, the Company no longer meets the requirement to maintain a minimum bid price of $1 per share, as set forth in Nasdaq Listing Rule 5550(a)(2). In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided a period of 180 calendar days, or until December 8, 2014, in which to regain compliance. In order to regain compliance with the minimum bid price requirement, the closing bid price of the Company’s common stock must be at least $1 per share for a minimum of ten consecutive business days during this 180-day period. In the event that the Company does not regain compliance within this 180-day period, the Company may be eligible to seek an additional compliance period of 180 calendar days if it meets the continued listing requirement for market value of publicly held shares and all other initial listing standards for the Nasdaq Capital Market, with the exception of the bid price requirement, and provides written notice to Nasdaq of its intent to cure the deficiency during this second compliance period, by effecting a reverse stock split, if necessary. However, if it appears to the Nasdaq Staff that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible, Nasdaq will provide notice to the Company that its common stock will be subject to delisting. The Notice does not result in the immediate delisting of the Company’s common stock from the Nasdaq Capital Market. The Company intends to monitor the closing bid price of the Company’s common stock and consider its available options in the event that the closing bid price of the Company’s common stock remains below $1 per share. There can be no assurance that the Company will be able to regain compliance with the minimum bid price requirement or maintain compliance with the other listing requirements.
Enzon Pharmaceuticals To Transfer Listing Of Its Common Stock To Nasdaq Capital Market
May 9 14
On May 8, 2014, Enzon Pharmaceuticals, Inc. received a letter from the Listing Qualifications department of The NASDAQ Stock Market LLC (Nasdaq) notifying the Company that its application to transfer the listing of its common stock to the Nasdaq Capital Market has been approved. The Company’s common stock will be transferred to the Nasdaq Capital Market at the opening of business on May 12, 2014. As previously announced, on March 19, 2014, the Company received a letter from the Listing Qualifications department of Nasdaq notifying the Company that it no longer complies with the requirement to maintain a minimum of $10 million in stockholders’ equity for continued listing on the Nasdaq Global Select Market. In lieu of seeking to regain compliance for continued listing on the Nasdaq Global Select Market, the Company applied to transfer the listing of its common stock to the Nasdaq Capital Market.