SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* GOLDE DAVID (Last) (First) (Middle) C/O ENZON PHARMACEUTICALS, INC. 685 ROUTE 202/206 (Street) BRIDGEWATER NJ 08807 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol ENZON PHARMACEUTICALS INC [ ENZN ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 03/31/2004
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/31/2004		M		676(1)	A	(1)	1,279	D
Common Stock								35,500	I	By Trust
Common Stock								2,600	I	By Trust for Daughter
Common Stock								1,000	I	By Wife

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Common Stock Right(2)	(3)	03/31/2004		M			441	(2)	(2)	Common Stock	441	$0	0	D
Common Stock Right(4)	(3)	03/31/2004		M			359	(4)	(4)	Common Stock	359	$0	0	D
Common Stock Right(5)	(3)	03/31/2004		M			258	(5)	(5)	Common Stock	258	$0	0	D
Common Stock Right(6)	(3)	03/31/2004		M			293	(6)	(6)	Common Stock	293	$0	0	D

Explanation of Responses:

1. This is the aggregate number of shares of common stock issued to Dr. Golde upon the exercise of the Common Stock Rights described in further detail on Table II, and is qualified under Rule 16b-3(d).

2. Securities granted by Enzon Pharmaceuticals, Inc. ("Enzon") pursuant to Enzon's 2001 Incentive Stock Plan as compensation for service as an Independent Director during the quarter ended March 31, 2003 and qualified under Rule 16b-3(d). The value of the compensation was $5,000. Each Common Stock Right is exchangeable for one share of common stock or cash with the price per right being $11.35, the fair market value of Enzon's common stock on March 31, 2003. On March 31, 2004, Dr. Golde elected to receive cash for 50% of the rights.

3. 1-for-1.

4. Securities granted by Enzon Pharmaceuticals, Inc. ("Enzon") pursuant to Enzon's 2001 Incentive Stock Plan as compensation for service as an Independent Director during the quarter ended June 30, 2003 and qualified under Rule 16b-3(d). The value of the compensation was $4,500. Each Common Stock Right is exchangeable for one share of common stock or cash with the price per right being $12.55, the fair market value of Enzon's common stock on June 30, 2003. On March 31, 2004, Dr. Golde elected to receive cash for 50% of the rights.

5. Securities granted by Enzon Pharmaceuticals, Inc. ("Enzon") pursuant to Enzon's 2001 Incentive Stock Plan as compensation for service as an Independent Director during the quarter ended September 30, 2003 and qualified under Rule 16b-3(d). The value of the compensation was $3,000. Each Common Stock Right is exchangeable for one share of common stock or cash with the price per right being $11.64, the fair market value of Enzon's common stock on September 30, 2003. On March 31, 2004, Dr. Golde elected to receive cash for 50% of the rights.

6. Securities granted by Enzon Pharmaceuticals, Inc. ("Enzon") pursuant to Enzon's 2001 Incentive Stock Plan as compensation for service as an Independent Director during the quarter ended December 31, 2003 and qualified under Rule 16b-3(d). The value of the compensation was $3,500. Each Common Stock Right is exchangeable for one share of common stock or cash with the price per right being $11.97, the fair market value of Enzon's common stock on December 31, 2003. On March 31, 2004, Dr. Golde elected to receive cash for 50% of the rights.

	/s/ Kenneth J. Zuerblis (Attorney-in-fact)	03/31/2004
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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