-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 WTGHoHlEeRfYIplyaZ2gPDdYgM73EEp+hoOthNNDFVQ76pY7JoTtWhaMyBTu/i07
 Q8Lue6+IfB9h4Kydx/PCUw==

<SEC-DOCUMENT>0001005477-04-001497.txt : 20040405
<SEC-HEADER>0001005477-04-001497.hdr.sgml : 20040405
<ACCEPTANCE-DATETIME>20040405173457
ACCESSION NUMBER:		0001005477-04-001497
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040326
FILED AS OF DATE:		20040405

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ENZON PHARMACEUTICALS  INC
		CENTRAL INDEX KEY:			0000727510
		STANDARD INDUSTRIAL CLASSIFICATION:	BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
		IRS NUMBER:				222372868
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	BUSINESS ADDRESS:	
		STREET 1:		685 ROUTE 202/206
		CITY:			BRIDGEWATER
		STATE:			NJ
		ZIP:			08807
		BUSINESS PHONE:		7329804500

	MAIL ADDRESS:	
		STREET 1:		C/O DORSEY & WHITNEY LLP
		STREET 2:		250 PARK AVE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10177

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ENZON PHARMACEUTICAL  INC
		DATE OF NAME CHANGE:	20021210

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ENZON INC
		DATE OF NAME CHANGE:	19920703

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			GRAU ULRICH M
		CENTRAL INDEX KEY:			0001169744

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-12957
		FILM NUMBER:		04718558

	MAIL ADDRESS:	
		STREET 1:		ENZON INC
		STREET 2:		20 KINGSBRIDGE RD
		CITY:			PISCATAWAY
		STATE:			NJ
		ZIP:			08854
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar123.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2004-03-26</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000727510</issuerCik>
        <issuerName>ENZON PHARMACEUTICALS  INC</issuerName>
        <issuerTradingSymbol>ENZN</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001169744</rptOwnerCik>
            <rptOwnerName>GRAU ULRICH M</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O ENZON PHARMACEUTICALS, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>685 ROUTE 202/206</rptOwnerStreet2>
            <rptOwnerCity>BRIDGEWATER</rptOwnerCity>
            <rptOwnerState>NJ</rptOwnerState>
            <rptOwnerZipCode>08807</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chief Scientific Officer</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Employee Stock Option (Right to Buy)</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>15.13</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2004-03-26</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>50000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2005-03-26</value>
            </exerciseDate>
            <expirationDate>
                <value>2014-03-26</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>50000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>50000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Securities granted by Enzon Pharmaceuticals, Inc. (&quot;Enzon&quot;) pursuant to Enzon's 2001 Incentive Stock Plan and qualified under Rule 16b-3(d).</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Kenneth J. Zuerblis (Attorney-in-fact)</signatureName>
        <signatureDate>2004-04-05</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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