Welcome to our dedicated page for SWK Holdings Corporation news (Ticker: SWKH), a resource for investors and traders seeking the latest updates and insights on SWK Holdings Corporation stock.
SWK Holdings Corporation (Nasdaq: SWKH) is a specialized finance company providing capital solutions primarily to the life sciences sector. The core focus of SWK is to monetize cash flow streams derived from commercial-stage products and intellectual properties. Through royalty purchases, financings, and synthetic revenue interests, SWK offers innovative financial structures aimed at minimizing equity dilution for its partners.
The company operates under two main segments: Finance Receivables and Pharmaceutical Development Services. The Finance Receivables segment generates the majority of the revenue, primarily through interest, fees, and royalties from various financing activities. SWK's financing solutions are designed to support the growth and commercialization efforts of small to mid-sized healthcare companies while maintaining low risk.
Recent achievements include the generation of $7.6 million in adjusted non-GAAP net income from the finance segment in Q2 2023, representing a 12% annualized return on tangible book value. The portfolio yield stands at an effective 14.5% and a realized 15.4%. The company expects continued growth in finance receivables, driven by multiple loan closings anticipated in the second half of 2023.
SWK also owns Enteris BioPharma, a clinical development and manufacturing organization. Enteris provides development services to pharmaceutical partners and offers innovative formulation solutions via its Peptelligence® platform. Enteris has booked $2.0 million in CDMO projects and is bidding on an additional $9.0 million worth of work projected to drive revenue growth in the latter half of 2023.
Financially, SWK's total revenue for Q2 2023 reached $9.5 million, marking a 36.8% increase year-over-year. The GAAP net income surged to $3.9 million, a 596.3% increase from the previous year. Additionally, the company reported a book value per share of $21.79 as of June 30, 2023, with an 8% year-over-year increase in non-GAAP tangible financing book value per share.
SWK continues to expand its financial capacity with a new $30 million offering of 9.00% Senior Notes due in 2027 and an expanded $60 million revolving credit facility. This capital will support further acquisitions, investments, and other general corporate purposes, enabling SWK to maintain its leadership in healthcare finance.
Enteris BioPharma has announced key developments in a recent press release, including the appointment of Rajiv Khosla as CEO and Gary A. Shangold as CMO. The company received $5 million in milestone payments from Cara Therapeutics for advancing Oral KORSUVA. Expansion of their manufacturing facility is on schedule, enabling Phase 3 production. Enteris aims for growth in 2021 by leveraging its Peptelligence and ProPerma delivery technologies and pursuing new partnerships. This positions the company for development opportunities in oral delivery solutions.
Flowonix Medical and SWK Holdings have successfully closed a financing deal worth approximately $33 million. This financing includes a $10 million debt facility from SWK and a $23 million Series B round led by Farallon Capital Management. The funds will support Flowonix's expansion in the chronic pain and spasticity markets, including product development and production line enhancements. The company anticipates improved performance in 2021, building on its resilience during 2020.
Enteris BioPharma, a subsidiary of SWK Holdings (Nasdaq: SWKH), will participate in Biotech Showcase Digital and BIO @ JPM from January 11-15, 2021. These events, held virtually alongside the J.P. Morgan 39th Annual Healthcare Conference 2021, will feature meetings with pharmaceutical executives to discuss opportunities related to Enteris's proprietary technologies, Peptelligence® and ProPerma™. Enteris aims to enhance oral delivery of drug compounds, including peptides, and has several programs in late-stage clinical development.
SWK Holdings reported a strong Q3 2020, achieving total revenues of $10.6 million, a 68% increase from Q3 2019. This growth was driven by a $2.5 million milestone revenue from Enteris BioPharma's partnership with Cara Therapeutics. The company also closed $4.4 million in royalty acquisitions, enhancing its portfolio. GAAP net income was $4.3 million, or $0.34 per diluted share, with adjusted net income reaching $6.7 million. As of November 10, SWK held approximately $11.6 million in cash and $20.0 million in available credit.
SWK Holdings Corporation (Nasdaq: SWKH) announced that its CEO, Winston Black, will participate in A.G.P.'s Virtual Healthcare Symposium on November 19, 2020. The CEO will engage in one-on-one meetings with investors to discuss the company's business strategies and recent achievements. Registered investors can request a meeting time. SWK Holdings specializes in financing for the healthcare sector, partnering with product marketers to offer flexible funding solutions, while also owning Enteris Biopharma, enhancing its portfolio through innovative drug delivery technologies.
SWK Holdings Corporation (Nasdaq: SWKH) provided an update on its portfolio and partners for the 2020 calendar year, highlighting strong progress despite COVID-19 challenges. The company reported successful acquisitions, including royalties from PDL BioPharma for Coflex, Kybella, and Zalviso, totaling $4.35 million. SWK's strategy focuses on supporting small and mid-sized life sciences companies, with capital ranging from $5 million to $20 million. The subsidiary, Enteris BioPharma, is also performing well, achieving a $2.5 million milestone payment from Cara Therapeutics for Oral KORSUVA™ development.
Virtual Investor Conferences announced the availability of presentations from the Financial Services Conference for on-demand viewing on VirtualInvestorConferences.com starting September 24, 2020. Keynote features Ed Mills discussing the 2020 Election and its impact on financial services. The presentations will be accessible 24/7 for 90 days, and investors can download related materials from the virtual trade booth. This conference allows companies to engage with investors directly, presenting a modern alternative to traditional conferences.
Virtual Investor Conferences announced the agenda for the upcoming OTC Financial Services Conference on September 24, 2020. The event will begin at 9:15 AM ET with a keynote by Ed Mills from Raymond James. It will feature presentations from key industry figures, including SWK Holdings, Inc. (Nasdaq: SWKH), and provide investors the opportunity to interact directly with company executives. The conference is free for participants and will be available for on-demand replay post-event. Pre-registration is recommended for a seamless experience.
SWK Holdings Corporation (Nasdaq: SWKH) announced that its chairman and CEO, Winston Black, will present at two upcoming investor conferences. The Virtual Life Science Investor Forum is scheduled for September 17, 2020, at 12:00 PM (ET), with a live webcast available at this link. Additionally, the Financial Services Investor Conference will take place on September 24, 2020, at 10:30 AM (ET), with a livestream at this link. Investors can also access these events on the company's website.
Enteris BioPharma, a subsidiary of SWK Holdings Corporation (Nasdaq: SWKH), will host a webinar on September 29, 2020, at 1 p.m. ET, featuring Dr. John Vrettos. The webinar will focus on innovative approaches to oral peptide delivery, addressing challenges in drug formulation and delivery. Enteris' proprietary technology, Peptelligence, enables effective oral delivery of peptides and peptidomimetics, enhancing drug compliance and market opportunities. Dr. Rajiv Khosla emphasized the potential of oral peptide therapeutics to transform treatment strategies.
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