BRIDGEWATER, N.J.--(BUSINESS WIRE)--Enzon Pharmaceuticals, Inc. (Nasdaq: ENZN) announced today that its Board of Directors has authorized a "Modified Dutch Auction" tender offer to purchase a portion of its 4% Convertible Senior Notes due 2013. The Company will utilize $100 million of its current cash for the tender. Currently, there is $270.5 million of notes outstanding. The tender offer is expected to commence in the near future.
