Horizon Techn Stock Price, News & Analysis

Horizon Technology Finance Corporation (NASDAQ: HRZN) has announced a $17 million venture loan facility to Robin Healthcare, Inc., securing an initial funding of $7 million. This funding will support Robin's innovative healthcare management system, which utilizes AI to enhance doctor-patient interactions by streamlining data entry and clinical note creation. Robin aims to allow physicians to focus more on patient care while improving coding accuracy for payors. The collaboration is expected to drive growth for both companies.

Horizon Technology Finance Corporation (NASDAQ: HRZN) will release its third-quarter financial results for 2022 on November 1, 2022, after market close. A conference call is scheduled for November 2, 2022, at 9:00 a.m. ET, featuring key executives including CEO Robert D. Pomeroy, Jr. Investors can participate via phone or a live webcast available on Horizon's website. The company focuses on providing secured loans to venture-capital-backed firms in technology and healthcare sectors, aiming for income generation and capital appreciation.

Horizon Technology Finance Corporation (NASDAQ: HRZN) announced a $30 million growth capital credit facility to Kodiak Robotics, a leader in autonomous long-haul trucking. This funding aims to enhance Kodiak's operations, which already deliver freight across Texas and Oklahoma for key partners. Horizon's investment strategy focuses on maximizing returns through secured loans to venture-backed companies in tech and related fields. The collaboration signifies Horizon's commitment to supporting innovative freight solutions that aim to improve safety and efficiency in supply chains.

IMV Inc. provides an update on its Phase 2B trials for MVP-S, showing significant progress in patient recruitment for VITALIZE and AVALON studies. VITALIZE, investigating MVP-S with Keytruda for DLBCL, is expected to yield first results by Q3 2022. AVALON has dosed its first patient, targeting platinum-resistant ovarian cancer, with early data anticipated in H1 2023. The company reported a net loss of $9.9 million for Q2 2022, increasing from $7.4 million YoY. As of June 30, 2022, IMV had $31.1 million in cash, projecting funds into Q2 2023.

On August 8, 2022, InBrace, an orthodontic company, announced securing $45 million in financing led by Horizon Technology Finance Corporation (NASDAQ: HRZN). This funding is intended to enhance InBrace's market penetration in the $40 billion orthodontics industry, building on a previous $100 million Series D funding. CEO Clint Carnell emphasized that this financing reflects investor confidence in InBrace's innovative Smartwire® technology, which offers a discreet and efficient teeth-straightening solution. The capital will support the expansion of InBrace's direct-to-consumer marketing initiatives and InStudio experience centers.

Horizon Technology Finance Corporation (NASDAQ: HRZN) has declared monthly cash distributions of $0.10 per share for October, November, and December 2022, totaling $0.30 per share. This decision follows a comprehensive review of taxable income estimates by the board of directors. Since its IPO in 2010, Horizon has distributed approximately $190 million to shareholders. Additionally, a Dividend Reinvestment Plan (DRIP) allows stockholders to reinvest distributions into common stock.

Horizon Technology Finance reported strong second quarter 2022 results with a net investment income (NII) of $8.6 million, or $0.35 per share, up from $6.1 million the previous year. The total investment portfolio rose by 43% to a record $577 million. The company declared regular monthly distributions of $0.30 per share and ended the quarter with a net asset value (NAV) of $290.6 million, or $11.69 per share. The debt portfolio yield was 14.2%. Despite a challenging macroeconomic environment, Horizon maintained a steady credit profile, with 96% of its loan portfolio rated 3 or better.

Horizon Technology Finance Corporation (NASDAQ: HRZN) plans to announce its financial results for the second quarter ending June 30, 2022, on August 2, 2022. A conference call will follow on August 3, 2022, at 9:00 a.m. ET, featuring remarks from key executives including Robert D. Pomeroy, Jr., CEO, and Gerald A. Michaud, President. Investors can participate via telephone or listen to a live webcast on the company's website. Horizon specializes in secured loans for venture-backed companies in technology and life sciences.

Horizon Technology Finance Corporation (NASDAQ: HRZN) reported a record-setting second quarter for 2022, originating $192 million in new loans, with $137 million designated for HRZN. The committed backlog reached a record $267 million, including $221 million for HRZN. Notably, HRZN received $57 million in loan prepayments, validating its pricing strategy. The company's focus remains on meeting the ongoing demand for venture debt, positioning HRZN for continued growth and value creation for shareholders.