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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0001005477-04-004604.txt : 20041227
<SEC-HEADER>0001005477-04-004604.hdr.sgml : 20041224
<ACCEPTANCE-DATETIME>20041227092606
ACCESSION NUMBER:		0001005477-04-004604
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20041222
FILED AS OF DATE:		20041227
DATE AS OF CHANGE:		20041227

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			BUCHALTER JEFFREY H
		CENTRAL INDEX KEY:			0001201040

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-12957
		FILM NUMBER:		041225650

	BUSINESS ADDRESS:	
		STREET 1:		ILEX ONCOLOGY INC
		STREET 2:		4545 HORIZON HILL BLVD.
		CITY:			SAN ANTONIO
		STATE:			TX
		ZIP:			78229-2263

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
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar123.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2004-12-22</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001201040</rptOwnerCik>
            <rptOwnerName>BUCHALTER JEFFREY H</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>685 ROUTE 202/206</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>BRIDGEWATER</rptOwnerCity>
            <rptOwnerState>NJ</rptOwnerState>
            <rptOwnerZipCode>08807</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chief Executive Officer</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <transactionDate>
                <value>2004-12-22</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>75000</value>
                    <footnoteId id="F2"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>75000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Employee Stock Option (right to buy)</value>
                <footnoteId id="F3"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>13.54</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2004-12-22</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>725000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F4"/>
            </exerciseDate>
            <expirationDate>
                <value>2014-12-22</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>725000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>725000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Restricted stock granted by Enzon Pharmaceuticals, Inc. (&quot;Enzon&quot;) pursuant to Enzon's 2001 Incentive Stock Plan and qualified under Rule 16b-3(d).</footnote>
        <footnote id="F2">Of the 75,000 shares granted, 22,500 shares will vest on December 22, 2007, 22,500 shares will vest on December 22, 2008 and the remaining 30,000 shares will vest on December 22, 2009 so long as Mr. Buchalter remains an employee of Enzon Pharmaceuticals, Inc. on the above dates</footnote>
        <footnote id="F3">Employee stock option granted by Enzon pursuant to Enzon's 2001 Incentive Stock Plan and qualified under Rule 16b-3(d).</footnote>
        <footnote id="F4">Of the 725,000 shares granted, 225,000 vested on December 22, 2004, 125,000 will vest on December 22, 2005, 125,000 will vest on December 22, 2006, 125,000 will vest on December 22, 2007 and the remaining 125,000 will vest on December 22, 2008 so long as Mr. Buchalter reamins an employee of Enzon Pharmaceuticals, Inc. on the above dates.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Gary A. Smith (Attorney-in-Fact)</signatureName>
        <signatureDate>2004-12-27</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----