SWK Holdings Corp
swkhold.comNo Longer Reporting
The company has not filed an annual or quarterly report since its FY2025 10-K, filed Mar 20, 2026. Its latest SEC filing is a SCHEDULE 13G/A from Apr 23, 2026.
10-K for FY2025, filed Mar 20, 2026
The sections below describe the company as of the FY2025 annual report.
What Did They Do?
Provides financing backed by royalties and product sales to life sciences companies, institutions and inventors.
10-K for FY2025, filed Mar 20, 2026
How Did They Make Money?
Advances capital to life sciences partners in exchange for interests in existing product-sales and royalty streams, and earns interest and fees on its financing. Some debt is repaid through a share tied to quarterly net sales and royalties; administrative fees are earned as services are provided.
10-K for FY2025, filed Mar 20, 2026The majority of our finance receivables transactions are structured similarly to factoring transactions whereby we provide capital in…View ↗
Unless otherwise specified, our senior secured debt assets generally are repaid by a revenue interest that is charged on a company’s…View ↗
Revenue RecognitionView ↗
$41.5M
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10-K for FY2025, filed Mar 20, 2026
$41.5M ↗
Who Were Their Customers?
Offers financing to life sciences companies, institutions and inventors. It provides capital directly to partner companies and finds opportunities through industry relationships, outreach and inbound inquiries.
10-K for FY2025, filed Mar 20, 2026Our Finance Receivables segment strategy is to be a leading healthcare capital provider by offering customized financing solutions to a…View ↗
The majority of our finance receivables transactions are structured similarly to factoring transactions whereby we provide capital in…View ↗
We source our investment opportunities through a combination of our senior management’s relationships within the industry, outbound…View ↗
Did Revenues Turn Into Profits?
Not on paper. It lost $2.5M in FY2025, but brought in more cash than it spent: $26.8M of free cash flow.
How Were They Changing?
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Apr 6, 2026
RWAY completed its acquisition of SWK Holdings
Shareholders were entitled to cash or stock consideration, plus a guaranteed cash payment.
Sources
8-K, filed Apr 6, 2026
In connection with the Mergers, on April 6, 2026, the Company entered into the Second Supplemental Indenture (the “Second Supplemental…View ↗
Shrank. Revenue fell 26% in 4 years, from $56.2M in FY2021 to $41.5M in FY2025, about 7% a year.
Pharmaceutical Development sale
The latest report says SWK sold substantially all Pharmaceutical Development assets, leaving Finance Receivables as its only operating segment; the older report described Enteris technology licensing, pipeline products and development services.
10-K for FY2022, filed Mar 31, 2023 10-K for FY2025, filed Mar 20, 2026In 2019, we commenced our Pharmaceutical Development segment with the acquisition of Enteris BioPharma, Inc. (“Enteris”). In March 2025 we…View ↗
Investment advisory partnerships
The latest report says SWK has no current transactions with investment advisory clients; the older report described separately managed accounts and fees from clients participating in deals.
10-K for FY2022, filed Mar 31, 2023 10-K for FY2025, filed Mar 20, 2026Although we have partnered with investment advisory clients in the past, we currently do not have any transactions in which we have…View ↗
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