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Enzon shares fall after CFO resigns
LOS ANGELES April 21, 2005 - Shares of Enzon Inc.
tumbled more than 23% at one point Thursday after the company said its chief
financial officer is resigning for "personal reasons."
Enzon (ENZN) hit a fresh 52-week low after the news that Kenneth Zuerblis
will step down. In recent trading, Enzon shares were down by 14%, or $1.27,
to $7.68, but reached as low as $6.91 at one point during the morning.
Zuerblis' resignation came a day after the company lowered its forecast on
sales of its Abelcet anti-fungal medication. The company expected sales of
$55 million to $60 million, but revised that downward to $45 million to $50
million.
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