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BRIDGEWATER, N.J. - Drug maker Enzon Pharmaceuticals Inc. said Thursday it cut its debt "significantly" to $12.5 million after selling future royalty rights for drug development technology.
| ENZN | 8.53 |  -0.18 |
The company did not say how much debt was actually cut and could not immediately be reached for comment Thursday morning.
The debt was cut through proceeds from the sale of 25 percent of future royalties on PEG-INTRON, amounting to about $92.5 million.
Shares of Enzon rose 33 cents to $8.91 in morning trading.
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