X0202 4 2007-04-09 0 0000727510 ENZON PHARMACEUTICALS INC ENZN 0000919185 HIGHBRIDGE CAPITAL MANAGEMENT LLC 9 WEST 57TH STREET 27TH FLOOR NEW YORK NY 10019 0 0 1 0 0001308315 Highbridge International LLC 9 WEST 57TH STREET, 27TH FLOOR NEW YORK NY 10019 0 0 1 0 0001308597 Dubin Glenn C/O HIGHBRIDGE CAPITAL MANAGEMENT, LLC 9 WEST 57TH STREET, 27TH FLOOR NEW YORK NY 10019 0 0 1 0 0001308598 Swieca Henry C/O HIGHBRIDGE CAPITAL MANAGEMENT, LLC 9 WEST 57TH STREET, 27TH FLOOR NEW YORK NY 10019 0 0 1 0 Shs of com stock, $0.01 par value p/share ("Common Stock") 2007-04-09 4 P 0 11300 8.20 A 11300 I See Footnotes Common Stock 2007-04-09 4 P 0 34000 8.25 A 45300 I See Footnotes Common Stock 2007-04-09 4 J 0 34000 8.25 D 11300 I See Footnotes Common Stock 2007-04-09 4 J 0 11300 8.20 D 0 I See Footnotes Exempt transfer of shares to return shares borrowed in connection with short sales entered into prior to the time that the Reporting Persons became subject to the reporting requirements of Section 16. 2,594 shares of Common Stock are attributable to Highbridge Convertible Arbitrage Master Fund, L.P. and 8,706 shares of Common Stock are attributable to Highbridge International LLC. Highbridge Capital Management, LLC is the trading manager of Highbridge International LLC and Highbridge Convertible Arbitrage Master Fund, L.P. Glenn Dubin is a Co-Chief Executive Officer of Highbridge Capital Management, LLC. Henry Swieca is a Co-Chief Executive Officer of Highbridge Capital Management, LLC. Each of the Reporting Persons disclaims beneficial ownership of the shares of Common Stock to the extent such beneficial ownership exceeds such Reporting Person's pecuniary interest. 7,806 shares of Common Stock are attributable to Highbridge Convertible Arbitrage Master Fund, L.P. and 26,194 shares of Common Stock are attributable to Highbridge International LLC. Highbridge Capital Management, LLC, /s/ Carolyn Rubin, Managing Director 2007-04-11