SWK Holdings Corporation (NASDAQ:SWKH) Q3 2023 Earnings Conference Call November 9, 2023 10:00 AM ET

Company Participants

Jason Rando - Tiberend Strategic Advisors, Inc.
Jody Staggs - President and Chief Executive Officer
Yvette Heinrichson - Chief Financial Officer

Conference Call Participants

Mark Argento - Lake Street Capital Markets

Operator

Good morning, and welcome to the SWK Holdings Third Quarter 2023 Corporate and Financial Results Conference Call. All participants will be in a listen-only mode. [Operator Instructions]. Please also note that this event is being recorded today.

I would now like to turn the conference over to Jason Rando at Tiberend Strategic Advisors. Please go ahead.

Jason Rando

Good morning, everyone, and thank you for joining SWK Holdings' third quarter 2023 financial and corporate results call. Earlier this morning, SWK Holdings issued a press release detailing its financial results for the three months ended September 30, 2023. The press release can be found in the Investor Relations section of swkhold.com under News Releases.

Before beginning today's call, I would like to make the following statement regarding forward-looking statements. Today, we're making certain forward-looking statements about future expectations, plans, events and circumstances, including statements about our strategy, future operations and the development of consumer and drug product candidates, plans for future potential product candidates and studies and expectations regarding capital allocation and cash resources. These statements are based on our current expectations and you should not place undue reliance on these statements.

Actual results may differ materially due to our risks and uncertainties, including those detailed in the Risk Factors section of SWK Holdings 10-K filed with the SEC and other filings we make with the SEC from time-to-time. SWK Holdings disclaims any obligation to update information contained in these forward-looking statements, whether as a result of new information, future events or otherwise.

Joining me from SWK Holdings on today's call are Jody Staggs, President and CEO; and Yvette Heinrichson, Chief Financial Officer. They will provide an update on SWK's third quarter 2023 corporate and financial results. Jody, go ahead.

Jody Staggs

Thank you, Jason, and thanks everyone for joining our third quarter conference call. During the third quarter, our core finance business generated healthy returns, while our Enteris subsidiary grew revenue, reduced costs and moved closer to profitability. We achieved a key 2023 strategic goal of improving our balance sheet via the issuance of a $33 million senior note as well as a $15 million increase in our credit facility to $60 million. We appreciate our underwriters' work to complete the bond offering in a challenging environment.