Enzon Pharmaceuticals, Inc. (NDAQ: ENZN) shares moved higher after a large investor disclosed that they hired an advisor to explore strategic alternatives for the company in a Schedule 13D filing with the SEC. DellaCamerca Capital Master Fund engaged the investment banking firm Moelis & Company LLC to explore strategic alternatives with respect to the investment in the company. The 7.8% shareholder is likely attempting to find a buyer to boost the share price.

Last quarter, Enzon reported strong results and a net loss of just $2 million or $0.05 per share. The third quarter results were impacted by the $88.7 million net gain from the sale of a portion of their PEG-INTRON royalty asset. All in all, the company remains strong and continues to see growth and stability in their marketed products. Unfortunately, the volatile external markets impacted the ability to complete the sale of their specialy businesses at this time, however.

The strategic transactions that Enzon is already undertaking represents an effort to unlock value while many of its shareholders also continue to explore ways to maximize their investment. The result has been a stock in decline so far but opportunity in the near future. Shares of the pharmaceutical firm rose $0.08, or 1.86%, to $4.38 per share on the day.