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Financial Report: Enzon 4Q

Oncaspar sales were $12.1 million in the quarter (+9%) and $50.1 million for the year (+29%). DepoCyt sales were $2.5 million (+24%) and $9.0 million for the year (+5%).

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Enzon

4Q Revenues: $48.4 million (+1%)

4Q Loss: $466,000 (earnings were $268,000 4Q07)

FY Revenues: $196.9 million (+6%)

FY Loss: $2.7 million (earnings were $83.1 million FY07)

Comments: Oncaspar sales were $12.1 million in the quarter (+9%) and $50.1 million for the year (+29%). DepoCyt sales were $2.5 million (+24%) and $9.0 million for the year (+5%). Abelcet sales were $6.6 million in the quarter (-14%) and $26.9 million for the year (-7%). Royalty revenue was up 5% in the quarter to $15.2 million and down 11% for the year to $59.5 million. Contract manufacturing revenue was $4.9 million in the quarter (-9%) and $23.6 million for the year (+34%). Restructuring charges for the year were $2.1 million, of which $1.3 million relates to severance costs and $0.8 million relates to depreciation of manufacturing assets.

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