Enzon Announces Reverse Stock Split; Stock Down

Shares of Enzon Pharmaceuticals plunged 25% after the company said its previously approved 1-for-100 reverse stock split will become effective March 24, 2026 at 4:30 pm ET. The company's common stock is expected to begin trading on a reverse-split-adjusted basis following the effective time. The move and sizable share decline indicate a material capital-structure action with significant negative market reaction for the stock.

Analysis

Shares of Enzon Pharmaceuticals plunged 25% after the company said its previously approved 1-for-100 reverse stock split will become effective March 24, 2026 at 4:30 pm ET. The company's common stock is expected to begin trading on a reverse-split-adjusted basis following the effective time. The move and sizable share decline indicate a material capital-structure action with significant negative market reaction for the stock.