Swk Hldgs Corp Stock Price, News & Analysis

DEWALT, a Stanley Black & Decker brand, will unveil innovative products at the World of Concrete Trade Show from January 17-19 in Las Vegas. Key launches include the 60V MAX* Cordless SDS MAX Chipping Hammer and 60V MAX* Cordless Breaker Hammer, both designed for heavy-duty demolition, available in July 2023. Also featured are the 60V MAX* Large Angle Grinder and TOUGHSYSTEM® 2.0 Dual Port Charger, scheduled for release in June and February 2023, respectively. Additional offerings include a 10 Gallon Dust Extractor and the PURE220+™ Premium Epoxy Anchor.

SWK Holdings Corporation (Nasdaq: SWKH) has officially named Jody Staggs as Chief Executive Officer, effective January 1, 2023, following his role as interim CEO since September 2022. Staggs' leadership has already facilitated multiple financing initiatives and improvements to the company's credit facility. Additionally, Laurie Dotter has been appointed Chair of the Board, contributing her extensive experience from various investment firms. Staggs emphasized a focus on optimizing capital structure and enhancing non-dilutive financial offerings for small and mid-sized life science companies.

SW K Holdings Corporation (Nasdaq: SWKH) announced a significant amendment to its Loan and Security Agreement with Cadence Bank, boosting its credit facility to $35 million, with an option to increase to $50 million. The new terms offer a lower interest rate of SOFR plus 2.65% and set a maturity date of September 30, 2025. This enhancement is part of SWK's strategy to optimize its capital structure and respond to rising interest in its non-dilutive financing solutions aimed at small- and mid-sized life sciences companies.

sbLiftOff, a mergers and acquisitions advisory firm, announced the appointment of Army veteran Branden Irvine as Director of Sales and Marketing. Irvine, a Bronze Star awardee, brings extensive experience from top brands including Stanley Black and Decker. His leadership aims to enhance sbLiftOff's services for government contracting and founder-led businesses. The firm specializes in mergers and acquisitions, particularly assisting veteran-owned businesses. The announcement highlights Irvine's commitment to supporting companies throughout their growth and acquisition journeys.

SWK Holdings Corporation (Nasdaq: SWKH) reported a 195% increase in GAAP net income to $6.6 million or $0.51 per diluted share for Q3 2022. Revenue rose 42.4% year-over-year to $13.6 million, driven by milestone revenue from its partnership with Cara Therapeutics. The finance portfolio effective yield was 14.3%, with a realized yield of 17.5%. The company closed three transactions totaling $57.5 million and repurchased 34,463 shares for $0.6 million. Notably, non-GAAP adjusted net income was $8.3 million, a 94.8% increase over the previous year.

SWK Holdings Corporation (NASDAQ: SWKH) will host a conference call on November 10, 2022, at 10:00 a.m. ET to discuss its third quarter 2022 financial results. The call can be accessed via phone or audio webcast, with an archive available for 90 days post-event. SWK Holdings is a specialty finance company focused on small- and mid-sized healthcare companies, providing non-dilutive financing solutions that typically range from $5 million to $25 million. The Company aims to create long-term value for stakeholders through unique financing structures.

Stanley Black & Decker (NYSE: SWK) will host a live webcast on November 9, 2022, at 9:30 AM ET, featuring a presentation by President and CEO Don Allan during the Baird 2022 Industrial Conference in Chicago, IL. The webcast can be accessed via the Investors section of their website, with a replay available for 30 days. As a leading global tool company, Stanley Black & Decker employs around 60,000 people and is known for its innovative brands like DEWALT and BLACK+DECKER.

Enteris BioPharma, a subsidiary of SWK Holdings (SWKH), presented research on its oral formulation of leuprolide, Ovarest®, at the ASRM 2022 Congress. This study highlighted that oral leuprolide delivered drug levels surpassing those of injectable versions, demonstrating promising pharmacokinetics and safety in a trial with 22 patients. The Chief Medical Officer, Dr. Gary Shangold, noted that the results support further development of Ovarest as a less invasive alternative to injections, addressing significant unmet clinical needs for several disorders.

SWK Holdings Corporation announced a $5 million milestone payment received by its subsidiary, Enteris BioPharma, from Cara Therapeutics related to the clinical progress of Oral KORSUVA. This payment stems from the license agreement for the Peptelligence® technology, crucial for the oral formulation of CR845/difelikefalin. Enteris retains $2.5 million of this amount, adding to the previous $33 million received from Cara since the license's inception. Enteris remains eligible for further milestone payments and royalties based on developmental achievements.