Current Report Filing (8-k)

Date : 02/01/2019 @ 11:12AM
Source : Edgar (US Regulatory)
Stock : Enzon Pharmaceuticals, Inc. (QX) (ENZN)
Quote : 0.24  -0.001 (-0.41%) @ 9:00PM

Current Report Filing (8-k)

 

 

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): January 30, 2019

 

ENZON PHARMACEUTICALS, INC.
(Exact name of registrant as specified in its charter)

 

Delaware  

0-12957

  22-2372868
(State or other jurisdiction of incorporation)  

(Commission File Number)

  (IRS Employer Identification No.)
         
20 Commerce Drive (Suite 135), Cranford, New Jersey
(Address of principal executive offices)
  07016
(Zip Code)

 

(732) 980-4500
(Registrant’s telephone number, including area code)

 

Not Applicable
(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company   ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.   ¨

 

 

 

 

 

 

Item 8.01 Other Events.

 

Letter Agreement with Servier IP UK Limited

 

On January 30, 2019, Enzon Pharmaceuticals, Inc. (the “Company”) entered into a letter agreement with Servier IP UK Limited (“Servier IP UK”), a wholly owned indirect subsidiary of Les Laboratoires Servier, in connection with the asset purchase agreement, dated as of November 9, 2009 (the “Asset Purchase Agreement”), by and between Klee Pharmaceuticals, Inc., Defiante Farmacêutica, S.A. (“Defiante”) and Sigma-Tau Finanziaria S.p.A., on the one hand, and the Company, on the other hand. Under the letter agreement, Servier IP UK, as successor-in-interest to Defiante, has confirmed its obligation to pay the Company a $7.0 million milestone payment related to SC Oncaspar as a result of the U.S. Food and Drug Administration’s December 20, 2018 approval of calaspargase pegol – mkn (brand name ASPARLAS™) as a component of a multi-agent chemotherapeutic regimen for the treatment of acute lymphoblastic leukemia in pediatric and young adult patients age 1 month to 21 years. In addition, under the letter agreement, the Company has agreed to waive Servier IP UK’s obligations to pursue the development of SC Oncaspar in Europe and the approval of SC Oncaspar by the European Medicines Agency (“EMEA”) under the Asset Purchase Agreement, provided that the Company is not waiving Servier IP UK’s obligation to make any applicable milestone payment to the Company upon EMEA approval, if any, of SC Oncaspar. Servier IP UK is required to pay the $7.0 million milestone payment to the Company within three business days following the parties’ completion of procedures for claiming benefits under the double tax treaty between the United States and the United Kingdom. The Company expects to receive the $7.0 million milestone payment from Servier IP UK by the third quarter of 2019. However, no assurance can be given as to the timing of the Company’s receipt of the payment.

 

Special Cash Dividend

 

On January 30, 2019, the Board of Directors of the Company declared a special cash dividend of $0.06 per share of the Company’s common stock, payable on March 21, 2019 to stockholders of record as of the close of business on February 21, 2019.

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  ENZON PHARMACEUTICALS, INC.
  (Registrant)
   
Date: January 31, 2019 By:  

/s/ 

Richard L. Feinstein
  Name:   Richard L. Feinstein
  Title: Vice President-Finance and Chief Financial Officer

 

 

 

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