Welcome to our dedicated page for Safeguard Scientifics news (Ticker: SFE), a resource for investors and traders seeking the latest updates and insights on Safeguard Scientifics stock.
Safeguard Scientifics, Inc. (NYSE: SFE) is a notable investment firm that provides vital capital and expertise to foster the growth of technology-driven businesses in the healthcare, financial services, and digital media sectors. With over six decades of experience, Safeguard targets companies that leverage transformative technologies, focusing extensively on the Internet of Everything, enhanced security, and artificial intelligence, including predictive analytics and machine learning.
Safeguard typically invests between $5 million and $25 million, initially through Series A or B funding rounds, and occasionally through seed rounds. Their investment strategy and hands-on approach have successfully nurtured numerous market leaders.
Currently, Safeguard is undertaking a strategic shift aimed at maximizing and monetizing its ownership interests over a multi-year period to boost shareholder value. This involves a plan to streamline operations and reduce ongoing costs. Despite recent disappointments in strategic transactions, the company is committed to returning excess cash to shareholders and ensuring an organized exit for remaining portfolio companies.
Recent Achievements:
- Successful recapitalization of Trice Medical, retaining a small subordinated debt position.
- Consistent efforts to reduce corporate expenses and enhance operational efficiencies.
Safeguard’s upcoming financial results for the third quarter of 2023 will be released on November 2, 2023, followed by a conference call and webcast. This event aims to provide stakeholders with in-depth updates on the company's financial health and strategic initiatives.
For more information, investors can visit the company's official website or contact their investor relations department.
Safeguard Scientifics, Inc. (NASDAQ:SFE) will announce its Q1 financial results for the period ending March 31, 2023, on May 4, 2023, after market close. The company is hosting a conference call at 5:00 pm ET the same day, featuring CEO Eric C. Salzman and CFO Mark A. Herndon. Participants are encouraged to register 10-15 minutes prior to the call. The webcast will be available for replay following the discussion, which will include a Q&A session.
Safeguard has a historical focus on capital provision and expertise to enhance technology-driven businesses. Currently, the company aims to maximize and monetize its ownership interests over several years to boost shareholder value.
Safeguard Scientifics, Inc. (NASDAQ: SFE) provided an assessment of the impact of Silicon Valley Bank's closure on March 10, 2023. The company has no direct banking relationship with Silicon Valley Bank but has seven ownership interests that do. These interests include depository accounts, outstanding loans, and undrawn lines of credit. The FDIC's announcement on March 12 guarantees that depositors will be protected, allowing Safeguard's interests to access funds without disrupting operations. Additionally, two companies within its interests have $9 million in undrawn loan commitments, for which alternative financing is being sought.
TheracosBio announced the appointments of former Congressman Jim Greenwood to its Board of Directors and Jeff McGroarty, MBA, as Chief Financial Officer. Both are expected to enhance the company's commercial strategy for Brenzavvy™ (bexagliflozin), an FDA-approved treatment for type 2 diabetes. Greenwood, with a background in life sciences policy, aims to expand treatment options for diabetes patients. McGroarty, former CFO of Annovis Bio (NYSE: ANVS), brings extensive financial expertise and will develop the commercialization strategy for Brenzavvy. The company aims to improve access to therapeutics for significant societal health issues.
Safeguard Scientifics, Inc. (NASDAQ: SFE) reported a net loss of $4.9 million, or $0.30 per share, for Q4 2022, an improvement from a loss of $8.6 million in Q4 2021. For the full year, the company reported a net loss of $14.3 million, or $0.87 per share, down from a profit of $27 million in 2021. Total annual deployments reached $5.7 million, exceeding earlier estimates. Safeguard expects follow-on deployments between $4 million and $6 million for 2023. The company's cash and marketable securities totaled $19.3 million as of December 31, 2022. Operating costs declined significantly, with general and administrative expenses dropping 33% year-over-year.
Safeguard Scientifics, Inc. (NASDAQ:SFE) will announce its financial results for Q4 and the full year ended December 31, 2022, after the market closes on March 9, 2023. A conference call and webcast will follow at 5:00 PM ET, featuring CEO Eric C. Salzman and CFO Mark A. Herndon discussing the results and addressing questions. Historically, Safeguard has focused on supporting technology-driven businesses and is currently working to maximize shareholder value through a strategic monetization of its ownership interests. For further details, interested parties can join the live call at 877-407-1878 or access the webcast via this link.
Safeguard Scientifics, Inc. (NASDAQ:SFE) has successfully completed its $3 million share repurchase program, acquiring a total of 736,577 shares at an average price of $4.09 each. In 2022, 711,481 shares were repurchased for $2.9 million under this authorization. The company ended 2022 with $19.3 million in cash and marketable securities, and its total deployments for the year reached $5.7 million, slightly above previous estimates. This strategic move aims to enhance shareholder value and reflects the company's commitment to financial stability.
Safeguard Scientifics, Inc. (SFE) reported its financial results for Q3 2022, highlighting a net loss of $3.2 million, or $0.19 per share, compared to a net income of $18.3 million, or $0.88 per share, for Q3 2021. Total revenues for its companies increased by 10.7% year-over-year to $139 million. Safeguard received $5.3 million from Lumesis’ acquisition and funded $1.6 million in Syapse’s $35 million funding round. The company repurchased 84,261 shares this quarter, maintaining a cash position of $21 million. Safeguard continues to explore strategic alternatives to enhance shareholder value.
Safeguard Scientifics, Inc. (NASDAQ:SFE) will announce its third-quarter financial results for the period ended September 30, 2022, after market close on November 3, 2022. A conference call will follow at 5:00 pm ET, featuring insights from CEO Eric C. Salzman and CFO Mark A. Herndon. Investors can participate by calling 888-428-7458 or through a webcast available on the company's website. Safeguard aims to maximize shareholder value through a focused strategy on its technology-driven investments, as emphasized in their latest communications.
Safeguard Scientifics, Inc. (NYSE: SFE) announced its transfer from the New York Stock Exchange to the NASDAQ Capital Market, effective October 26, 2022. This strategic move aims to provide cost savings and greater corporate flexibility as the company pursues portfolio exits and value maximization strategies. CEO Eric Salzman emphasized that this transfer aligns with their ongoing efforts to enhance shareholder value. Safeguard has a history of supporting technology-driven businesses and is focused on monetizing its ownership interests over the coming years.
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