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NEW YORK ( TheStreet) -- Enzon Pharmaceuticals (Nasdaq: ENZN) hit a new 52-week low Friday as it is currently trading at $9.97, below its previous 52-week low of $10 with 901,487 shares traded as of four p.m. ET. Average volume has been 434,900 shares over the past 30 days. Enzon has a market cap of $538.9 million and is part of the health care sector and drugs industry. Shares are down 16.2% year to date as of the close of trading on Thursday. Enzon Pharmaceuticals, Inc., a biopharmaceutical company, engages in the discovery and development of medicines for patients with cancer primarily in the United States and Europe. Its drug development program utilizes Customized Linker technology and the Locked Nucleic Acid technology.