SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)   March  3,  1997   

                                   ENZON, INC.
             (Exact name of registrant as specified in its charter)



          Delaware                    0-12957              22-237286
     (State or other jurisdiction   (Commission          (IRS Employer
        of incorporation)         File Number)          Identification)



                20 Kingsbridge Road, Piscataway, New Jersey 08854
               (Address of principal executive offices) (Zip Code)



        Registrant's telephone number, including area code (908) 980-4500




          (Former name or former address, if changed since last report)






Item 5.  Other Events

         The sole  holder of 20,000  shares  of Series C  Convertible  Preferred
Stock (the  "Series C  Preferred  Stock") of Enzon,  Inc.  (the  "Company")  has
exchanged  such shares for 20,000  shares of newly issued  Series D  Convertible
Preferred Stock (the "Series D Preferred  Stock").  The Series D Preferred Stock
contains the same  provisions as the Series C Preferred  Stock,  except that the
restriction  on the maximum  number of shares that can be held by the converting
institution was  eliminated.  The 20,000 shares of Series C Preferred Stock were
issued as part of a $3,000,000 private placement in March 1996.

         In addition,  all of the Series D Preferred  Stock issued was converted
into  1,015,228  shares of Common  Stock.  The holder of the Series D  Preferred
Stock has agreed not to sell the Common Stock  issuable  upon the  conversion of
the Series D Preferred Stock without the Company's  written consent for a period
of one year.  This eliminates all of the Company's  convertible  preferred stock
with  the  exception  of  109,000  shares  of  Series A  Cumulative  Convertible
Preferred Stock, which have a fixed conversion price of $11.00 per share.


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                                   SIGNATURES

         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
the  Registrant  has duly  caused  this report to be signed on its behalf by the
undersigned hereunto duly authorized.

Dated:  March 6, 1997


                                                                     ENZON, INC.
                                                                    (Registrant)

                                                      By: /S/KENNETH J. ZUERBLIS
                                                             Kenneth J. Zuerblis
                                                         Vice President, Finance
                                                             and Chief Financial
                                                                         Officer


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