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.
On April 12, 2022, Enteris BioPharma, a subsidiary of SWK Holdings (Nasdaq: SWKH), announced acceptance of two abstracts for poster presentations at ENDO 2022, scheduled for June 11-14, 2022, in Atlanta. The abstracts focus on oral leuprolide formulations developed using Enteris' Peptelligence® technology, aimed at improving patient compliance for therapies typically requiring injections. These represent significant advancements in Enteris' clinical pipeline targeting critical unmet needs in treatment.
Enteris BioPharma, a subsidiary of SWK Holdings (Nasdaq: SWKH), has been featured in Drug Development and Delivery for its innovative oral delivery technologies, Peptelligence® and ProPerma®. These technologies address permeability and solubility challenges in drug formulation, enabling the oral delivery of peptides and small molecules. CEO Rajiv Khosla emphasized the rising interest from pharmaceutical companies in oral versions of traditionally difficult-to-deliver drugs. Enteris has initiated six feasibility programs and is in active partnerships to enhance treatment options across various therapeutic areas.
SWK Holdings Corporation (Nasdaq: SWKH) reported its fourth-quarter 2021 financial results, highlighting a total revenue of $15.0 million, representing a 38% increase from the prior year. The company closed four transactions between December 2021 and March 2022, deploying $38.5 million. Notably, Enteris received a $5.0 million milestone payment from Cara Therapeutics. Despite a 10.7% decrease in total investment assets to $189.7 million, non-GAAP adjusted net income rose to $9.5 million, a increase from $7.5 million year-over-year.
Advanced Oxygen Therapy Inc. (AOTI) has secured significant growth funding from SWK Holdings Corporation (Nasdaq: SWKH) to expand its noninvasive topical oxygen wound healing solution, TWO2, across the USA. The funding will enhance market access and clinical support for TWO2, which has shown a six-fold reduction in ulcer recurrence and an 88% reduction in hospitalizations for chronic wounds. AOTI aims to meet the growing demand for its therapy, which is clinically proven to improve patient outcomes and reduce healthcare costs.
SWK Holdings Corporation (Nasdaq: SWKH) will participate in Maxim's 2022 Virtual Growth Conference from March 28-30, 2022. Chairman and CEO Winston Black will present a pre-recorded overview of the company's business strategy and recent achievements. The presentation will be accessible on-demand for registered attendees, and the management team will hold virtual one-on-one meetings. SWK specializes in financing for small- and mid-sized companies in the healthcare sector, partnering with product marketers and royalty holders to deliver flexible financial solutions.
Enteris BioPharma, a subsidiary of SWK Holdings (Nasdaq: SWKH), has published a white paper titled "HPAPI Drug Solid Oral Dosage Manufacturing – Ensuring Content Uniformity." The paper discusses challenges in ensuring content uniformity with high potency active pharmaceutical ingredients (HPAPIs) and highlights the advantages of dry production techniques. Enteris recently renovated its manufacturing plant in Boonton, NJ, now featuring a state-of-the-art facility dedicated to HPAPI manufacturing. The HPAPI market is projected to exceed $32 billion by 2026, presenting substantial growth opportunities.
Enteris BioPharma, a subsidiary of SWK Holdings Corporation (Nasdaq: SWKH), will participate in DCAT Week 2022 from March 21-24, 2022, in New York City. The management team will engage with pharmaceutical executives to promote its Contract Manufacturing Organization (CMO) services for solid oral doses, especially for challenging compounds like peptides and highly potent small molecules. Enteris offers comprehensive clinical trial materials manufacturing from Phase 1 to Phase 3 and has a state-of-the-art facility for high potency active pharmaceutical ingredients.
SWK Holdings Corporation (SWKH), a specialty finance firm focused on life sciences, has restructured its Board of Directors as of February 15, 2022. New independent directors Wendy DiCicco and Robert K. Hatcher join Laurie Dotter, who was appointed earlier in February. This board reconstitution aims to leverage the extensive financial and operational expertise of the new members to drive growth and enhance the company's strategic initiatives. CEO Winston Black emphasized the importance of these appointments in navigating market dynamics to improve financial offerings.
Enteris BioPharma, a subsidiary of SWK Holdings (Nasdaq: SWKH), announced progress on its oral feasibility programs utilizing its Peptelligence® and ProPerma® technologies. In 2021, Enteris initiated six programs targeting various therapeutic areas, including cancer and CNS disorders. The Peptelligence platform enhances oral delivery of peptide drugs, while ProPerma improves solubility for small molecules. Enteris has received $28 million from Cara Therapeutics, with potential future milestones linked to their oral formulation, Oral KORSUVA. These advancements showcase Enteris' capacity to transform drug delivery.
SWK Holdings Corporation (Nasdaq: SWKH) updated its portfolio performance for the second half of 2021, highlighting new financings including $10 million to MolecuLight and $12 million to Biotricity (NASDAQ: BTCY). CEO Winston Black noted that 2022 aims to restore deal origination to historical levels. Enteris BioPharma's partnership with Cara Therapeutics is advancing with a $5 million milestone payment. Additionally, Biolase (NASDAQ: BVS) anticipates a 44-47% revenue increase for the fourth quarter. SWK focuses on providing flexible financing solutions to small and mid-sized life science companies.
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