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.
SWK Holdings Corporation (Nasdaq: SWKH) has been added to the Russell 2000, Russell 3000, and Russell MicroCap Indexes, effective June 27, 2022. This inclusion reflects the company's growth and aims to enhance shareholder value by increasing stock liquidity and awareness within the investment community. CEO Winston Black stated that the company is addressing funding needs in the life sciences sector while maintaining financial discipline. FTSE Russell, the index provider, ranks stocks based on market capitalization, and SWK's membership will last for one year, impacting future investment strategies.
Enteris BioPharma, a subsidiary of SWK Holdings (SWKH), presented two clinical studies on oral formulations of leuprolide at ENDO 2022. Results indicate that their Peptelligence® platform delivers significant circulating drug concentrations comparable to injected formulations. The studies demonstrated successful systemic delivery of leuprolide orally, with positive pharmacokinetic profiles and effective hormonal suppression of LH, FSH, and estradiol. No severe adverse events were reported, marking a milestone in alternative treatments for conditions like endometriosis.
Enteris BioPharma, a subsidiary of SWK Holdings (Nasdaq: SWKH), has published a white paper titled "Protecting Workers and the Environment: Facilities and Processes Key to Making Highly Potent Drug Products." The paper highlights the importance of specialized knowledge and facilities in manufacturing highly potent active pharmaceutical ingredients (HPAPIs). The recent renovation of Enteris' Boonton, NJ facility enhances its capabilities in HPAPI handling. Given the current shortage of U.S.-based facilities for HPAPI production, Enteris aims to address industry challenges through its advanced manufacturing capabilities.
On May 26, 2022, Enteris BioPharma engaged its employees in a charitable event, creating stuffed teddy bears for Ronald McDonald House Charities to comfort sick children. This initiative emphasized teamwork and community support, aligning with the company’s patient-focused values. The bears were distributed to families in New Brunswick, NJ, providing comfort during tough times. Enteris is a subsidiary of SWK Holdings Corporation (Nasdaq: SWKH) offering contract development and manufacturing services, leveraging proprietary drug delivery technologies to address unmet clinical needs.
SWK Holdings Corporation (Nasdaq: SWKH) announced a $200 million universal shelf registration statement on Form S-3 and a $10 million stock repurchase program authorized by its Board of Directors. The repurchase will be executed through a 10b5-1 trading plan until May 15, 2023. CEO Winston Black stated that these moves aim to enhance the company's financial position and support life sciences firms' capital needs. There are no guarantees regarding the completion of any debt offerings or the exact number of shares repurchased.
SWK Holdings Corporation (SWKH) reported a strong first quarter of 2022 with total revenue increasing by 18% to $11.1 million year-over-year. The company achieved a GAAP net income of $3.5 million, reflecting a 2.9% growth. The finance portfolio realized yield rose to 22.5%, indicating solid loan performance. As of March 31, 2022, tangible financing book value per share reached $18.39, a 12.7% year-over-year increase. Total investment assets decreased by 10.6% year-over-year to $195.8 million. The company is well-positioned with $63.4 million available in cash and credit facilities.
SWK Holdings Corporation (Nasdaq: SWKH) will host a conference call and audio webcast on May 11, 2022 at 10:00 a.m. ET to discuss its Q1 2022 financial results. Participants can join by dialing (844) 378-6488 for the U.S. or (412) 317-1079 for international calls, using passcode 10166330. The webcast will be available on the company's website and archived for 90 days afterward. SWK specializes in financing solutions for small to mid-sized healthcare companies and owns Enteris BioPharma, which develops innovative drug delivery technologies.
Enteris BioPharma, a subsidiary of SWK Holdings (Nasdaq: SWKH), will exhibit at CPhI North America 2022 from May 17-19 in Philadelphia. The company aims to showcase its innovative drug delivery technologies, including Peptelligence® and ProPerma®, which facilitate the oral delivery of challenging compounds. Enteris also provides comprehensive contract manufacturing services, enhancing its position in the pharmaceutical sector. CEO Rajiv Khosla emphasized the importance of this event for exploring partnerships in drug development and manufacturing.
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