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EXHIBIT 12.1

ENZON PHARMACEUTICALS, INC. AND SUBSIDIARIESRatio of Earnings to Fixed Charges(in thousands)

|                                                             |      |                         |      |                             |        |                    |      |  |        |   |         |       
|------------------------------------------------------------ | ---- | ----------------------- | ---- | --------------------------- | ------ | ------------------ | ---- |  | ------ | - | ------- | ------
|                                                             |      | Year Ended December 31, |      | Six MonthsEndedDecember 31, |        | Year endedJune 30,
|                                                             | 2008 |                         | 2007 |                             | 2006   |                    | 2005 |  | 2005   |   | 2004   
|Determination of earnings:                                   |      |                         |      |                             |        |                    |      |  |        |   |         |       
|(Loss) income from continuing operations before income taxes |      |                         | $    |                             | (2,411 | )                  |      |  |        | $ |         | 84,986
|Add:                                                         |      |                         |      |                             |        |                    |      |  |        |   |         |       
|Fixed Charges                                                |      |                         |      | 13,450                      |        |                    |      |  | 18,131 |   |         |       
|                                                             |      |                         |      |                             |        |                    |      |  |        |   |         |       
|Earnings, as adjusted                                        |      |                         | $    |                             | 11,039 |                    |      |  | $      |   | 103,117 |       
|                                                             |      |                         |      |                             |        |                    |      |  |        |   |         |       
|Fixed charges:                                               |      |                         |      |                             |        |                    |      |  |        |   |         |       
|Interest expense (gross)(1)                                  |      |                         | $    |                             | 12,681 |                    |      |  | $      |   | 17,380  |       
|Portion of rent representative of the interest factor(2)     |      |                         |      | 769                         |        |                    |      |  | 751    |   |         |       
|                                                             |      |                         |      |                             |        |                    |      |  |        |   |         |       
|Fixed charges                                                |      |                         | $    |                             | 13,450 |                    |      |  | $      |   | 18,131  |       
|                                                             |      |                         |      |                             |        |                    |      |  |        |   |         |       
|Deficiency of earnings available to cover fixed charges      |      |                         | $    |                             | (2,411 | )                  |      |  |        |   | N/A     |       
|                                                             |      |                         |      |                             |        |                    |      |  |        |   |         |       
|Ratio of earnings to fixed charges                           |      |                         |      | N/A                         |        |                    |      |  | 6:1    |   |         |       
|                                                             |      |                         |      |                             |        |                    |      |  |        |   |         |       





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|(1)
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|(2)



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