SEC FORM 3

SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Davit Paul Stephen

(Last)

(First)

(Middle)

C/O ENZON PHARMACEUTICALS, INC.

685 ROUTE 202/206

(Street)

BRIDGEWATER

08807

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
04/07/2005

3. Issuer Name and Ticker or Trading Symbol
ENZON PHARMACEUTICALS INC [ ENZN ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	EVP, Human Resources

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock⁽¹⁾	300.1651	D
Common Stock⁽²⁾	25,000⁽³⁾	D
Common Stock⁽²⁾	7,500⁽⁴⁾	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Employee Stock Option (Right to Buy)⁽⁵⁾	⁽⁶⁾	03/01/2012	Common Stock	25,000	$42.777	D
Employee Stock Option (Right to Buy)⁽⁵⁾	04/07/2007	03/01/2012	Common Stock	25,000	$42.777	D
Employee Stock Option (Right to Buy)⁽⁵⁾	⁽⁷⁾	08/13/2012	Common Stock	30,000	$23.66	D
Employee Stock Option (Right to Buy)⁽⁵⁾	⁽⁸⁾	02/06/2014	Common Stock	30,000	$14.15	D
Employee Stock Option (Right to Buy)⁽⁵⁾	03/26/2005	03/26/2014	Common Stock	30,000	$15.13	D

Explanation of Responses:

1. Securities granted by Enzon Pharmaceuticals, Inc. ("Enzon") pursuant to Enzon's 401(k) Savings and Investment Plan.

2. Restricted stock granted by Enzon pursuant to Enzon's 2001 Incentive Stock Plan and qualified under Rule 16b-3(d).

3. Of the 25,000 shares granted, 7,500 will vest on August 29, 2006, 7,500 will vest on August 29, 2007 and the remaining 10,000 will vest on August 29, 2008.

4. Of the 7,500 shares granted, 2,250 will vest on February 6, 2007, 2,250 will vest on February 6, 2008 and the remaining 3,000 will vest on February 6, 2009.

5. Employee stock option granted by Enzon pursuant to Enzon's 2001 Incentive Stock Plan and qualified under Rule 16b-3(d).

6. Of the 25,000 options granted, 5,000 were vested on March 1, 2003, 5,000 were vested on March 1, 2004, 5,000 were vested on March 1, 2005 and the remaining were vested on April 7, 2005.

7. Of the 30,000 options granted, 7,500 were vested on August 13, 2003, 7,500 were vested on August 13, 2004 and the remaining were vested on April 7, 2005.

8. Of the 30,000 options granted, 7,500 were vested on February 6, 2005 and the remaining were vested on April 7, 2005.

	/s/ Paul Stephen Davit	04/18/2005
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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