DALLAS - SWK Holdings Corporation (NASDAQ:SWKH), a specialty finance company focused on the life sciences sector, announced today that it will release its third quarter financial results after the market closes on November 14, 2024. The company will conduct a conference call the following morning at 9:00 a.m. Central Time to discuss the quarterly financial outcomes.
In recent portfolio activities, SWK Holdings expanded its credit facility with Eton Pharmaceuticals , Inc. (NASDAQ:ETON) by $25.7 million to support Eton's acquisition of Increlex, expected to close by year-end 2024. Additionally, Epica International, Inc. repaid its term loan to SWK, which still retains an equity stake in the company.
Updates from SWK's portfolio companies included 4WEB Medical appointing a new president, AOTI, Inc. (AIM:AOTI) reporting a significant revenue increase and FDA clearance for its NEXATM Negative Pressure Wound Therapy System, and Biotricity, Inc. (OTCQB:BTCY) announcing an increase in revenues and gross margins with expectations of profitability by the end of the fiscal fourth quarter.
Elutia Inc. (NASDAQ:ELUT) reported sales growth for its products and raised funds through warrant exercises, while Eton Pharmaceuticals showed revenue growth and operational cash flow, along with an FDA-accepted New Drug Application with a PDUFA date set for February 28, 2025.
Journey Medical Corporation (NASDAQ:DERM) demonstrated revenue growth and positive adjusted EBITDA, and MolecuLight Inc. closed a Series C financing round. Shield Therapeutics (LON:STXS) plc (LSE:STX) reported a surge in total prescriptions and revenue for its lead product, Accrufer®.
SWK Holdings specializes in providing non-dilutive financing solutions to healthcare companies, with financing structures that include structured debt, royalty monetization, synthetic royalty transactions, and asset purchases. The company also owns Enteris BioPharma, which offers drug development services and proprietary oral drug delivery technologies.
This announcement is based on a press release statement and contains forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from expected results.
In other recent news, Biotricity Inc. has experienced significant developments. During their annual stockholders meeting, the shareholders re-elected Waqaas Al-Siddiq, David A. Rosa, Ronald McClurg, and Jainal Bhuiyan as directors. Furthermore, the appointment of SRCO Professional Corporation as the independent registered public accounting firm for the fiscal year ending March 31, 2025, was ratified.
However, a proposal regarding the issuance of up to $6,600,000 of the company's common stock upon the conversion of Series B Convertible Preferred Stock was rejected by shareholders. These updates demonstrate the company's recent governance decisions and strategic plans.
In a separate development, Biotricity has been notified of its impending delisting from the Nasdaq Capital Market due to non-compliance with the market's minimum value requirement. The company has a 15-day window from the receipt of the delisting notice to request a review of the Panel's decision. Despite the delisting, Biotricity has applied for its common stock to be quoted on the OTCQB, a trading platform for early-stage and developing U.S. and international companies. These are recent developments that could potentially impact the company and its investors.
InvestingPro Insights
Adding to the update on Biotricity, Inc. (OTCQB:BTCY) mentioned in the article, recent InvestingPro data provides further context to the company's financial situation. Despite the reported increase in revenues and gross margins, Biotricity's market capitalization stands at a modest $5.05 million, reflecting its current position as a small-cap player in the healthcare technology sector.
An InvestingPro Tip highlights that Biotricity has shown a significant return over the last week, which aligns with the company's positive outlook on profitability mentioned in the article. However, another InvestingPro Tip indicates that the company suffers from weak gross profit margins, which may present challenges as it strives for profitability.
The company's revenue for the last twelve months as of Q1 2023 was $12.24 million, with a revenue growth of 15.47% over the same period. This data supports the article's mention of Biotricity's increasing revenues.
For investors interested in a more comprehensive analysis, InvestingPro offers 6 additional tips for Biotricity, providing a deeper dive into the company's financial health and market performance.
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