Exhibit 99.1

SWK Holdings Corporation Announces Financial Results for First Quarter 2023

Conference Call and Live Audio Webcast Scheduled for Thursday, May 11, 2023, at 10:00 a.m. ET

Corporate Highlights

Finance Receivables Segment Update

During the quarter, SWK adopted the accounting standard ASC 326 to estimate its current expected credit losses (“CECL”), which resulted in an $11.8 million allowance for credit losses and a $9.7 million reduction, net of applicable deferred tax assets of $2.5 million, to the accumulated deficit. The allowance for credit loss is unallocated to any specific financial instrument and not indicative of a negative view on a specific finance receivable.

Dallas, TX, April 3, 2023 – SWK Holdings Corporation (Nasdaq: SWKH) (“SWK” or the “Company”), a life science-focused specialty finance company catering to small- and mid-sized commercial-stage companies, today provided a business update and announced its financial and operating results for the first quarter ended March 31, 2023.

“Our first quarter results were in line with internal expectations with the finance segment generating $4.6 million of net income, and $7.3 million of adjusted non-GAAP net income. The portfolio generated an attractive return profile with an effective yield of 15.5%, and our gross finance receivable portfolio reached an all-time high of $248.8 million,” stated Jody Staggs, President and CEO of SWK. “The majority of our portfolio is performing as expected, and we are in regular contact with borrowers that may require additional capital during 2023.”

Mr. Staggs continued, “We are pleased with the continued financial and operational momentum at our Enteris operating subsidiary including work with a large pharma services organization to provide Phase 1 and Phase 2 CDMO services to its customers. Year-to-date, Enteris has bid on approximately $7.0 million of CDMO proposals that are expected to drive revenue growth in the second half of 2023. Additionally, the restructuring initiated in late 2022 has led to a significant reduction in operating expenses, which during the first quarter of 2023 totaled $1.4 million, a 45% decline from $2.6 million in the fourth quarter of 2022. We believe the operational efficiencies that are now in place position Enteris for improved financial results in the second half of 2023. We continue to evaluate strategic alternatives for Enteris and will provide updates as progress is made.”

“The ongoing capital markets uncertainty remains both an opportunity and a challenge. SWK is well positioned to navigate this environment given our focus on financing differentiated life science product companies coupled with our healthy balance sheet with minimal leverage. We are also working to increase shareholder value through an improved capital structure, reduced operating burn at Enteris, and an ongoing share repurchase program.”

First Quarter 2023 Financial Results

For the first quarter 2023, SWK reported total revenue of $9.4 million, a 15.3% decrease compared to $11.1 million for the first quarter 2022. The $1.7 million decrease in revenue for the three months ended March 31, 2023, consisted of a $1.1 million decrease in Finance Receivables segment revenue and a $0.6 million decrease in Pharmaceutical Development segment revenue. The $1.1 million decrease in Finance Receivables segment revenue was primarily due to a $5.3 million decrease in interest, fees and royalties earned on finance receivables that were paid off in 2022, which was partially offset by a $4.4 million increase in interest and fees earned due to funding new and existing loans.

Pre-tax net income for the quarter was flat at $4.5 million for the three months ended March 31, 2023, compared to $4.6 million for the same period of the previous year. The slight year-over-year decrease is primarily due to a $1.7 million decrease in consolidated revenue, partially offset by a $1.9 million decrease in operating expenses in both segments.

GAAP net income for the quarter ended March 31, 2023, increased 33.3% to $4.6 million, or $0.36 per diluted share, from $3.5 million, or $0.27 per diluted share, for the first quarter 2022.

For the first quarter 2023, non-GAAP adjusted net income was $5.7 million, a 4.4% decrease from $6.0 million for the first quarter 2022. Non-GAAP adjusted net income for the Finance Receivables segment was $7.3 million, a 13.5% decrease from $8.4 million for the first quarter 2022.

During the twelve months ended March 31, 2023, there were $30.7 million of loan repayments and royalty paydowns, which were partially offset by $83.4 million of new and existing investment funding. As a result, income-producing assets (defined as finance receivables and corporate debt securities) totaled $237.1 million as of March 31, 2023. This is a 25.9% increase compared with income-producing assets of $188.4 million as of March 31, 2022. Total investment assets, which include income-producing assets plus equity-linked securities, totaled $237.8 million as of March 31, 2022, compared to March 31, 2022, total investment assets of $191.3 million.

Book value per share was $21.39 as of March 31, 2023, compared to $21.10 as of March 31, 2022. Book value per share increased 4.9% compared to March 31, 2022, after adjusting for the effect of CECL adoption. Non-GAAP tangible financing book value per share totaled $18.45. Non-GAAP tangible financing book value per share increased 5.6% compared to March 31, 2022, after adjusting for the effect of CECL adoption. Management views non-GAAP tangible financing book value per share as a relevant metric to value the Company’s core finance receivable business. Non-GAAP tangible financing book value per share removes the value of the deferred tax assets and Enteris net asset value.

Tables detailing SWK’s financial performance for the first quarter of 2023 are below.

Portfolio Status

During the quarter, SWK closed a $5.0 million secured loan to NeoLight, LLC, a medical device company that designs devices for the neonatal market, and advanced an additional $8.4 million to existing borrowers.

For the first quarter 2023, the realized yield of the finance receivables portfolio was 15.3%, versus 22.5% for the same period in the previous year. The realized yield is inclusive of all fees, including all realized unamortized fees, amendment fees, and prepayment fees, and is calculated based on the simple average of finance receivables at the beginning and end of the period. The realized yield may differ from the effective yield due to actual cash collections being greater or lesser than modeled.

As of March 31, 2023, non-accrual finance receivables totaled $18.9 million. Of the total $18.9 million, $7.1 million consisted of royalty purchases, while the remaining $11.8 million consisted of the loan to Flowonix Medical, Inc. SWK continues to work with the company to achieve a resolution.

As of March 31, 2023, SWK had $11.9 million of unfunded commitments.

Total portfolio investment activity for the three months ended March 31, 2023, and 2022 was as follows (in thousands):

Adjusted Non-GAAP Net Income

The following table provides a reconciliation of SWK’s reported (GAAP) consolidated net income to SWK’s adjusted consolidated net income (Non-GAAP) for the three-month periods ended March 31, 2023 and 2022. The table eliminates provisions for (benefits from) income taxes, non-cash mark-to-market changes on warrant assets and equity securities, amortization of Enteris intangible assets and any non-cash impact on the remeasurement of contingent consideration.

In the table above, management has deducted the following non-cash items: (i) change in the fair-market value of equities and warrants, as mark-to-market changes are non-cash, (ii) income taxes, as the Company has substantial net operating losses to offset against future income, (iii) amortization expense associated with Enteris intangible assets, and (iv) (gain) loss on remeasurement of contingent consideration.

Finance Receivables Adjusted Non-GAAP Net Income

The following table provides a reconciliation of SWK’s consolidated adjusted income before provision for income tax expense, listed in the table above, to the non-GAAP adjusted net income for the Finance Receivable segment for the three-month periods ended March 31, 2023 and 2022. The table eliminates Enteris operating (income) loss. The adjusted income before income tax expense is derived in the table above and eliminates income tax (benefit) expense, non-cash mark-to-market changes on warrant assets and equity securities.

Non-GAAP Tangible Finance Book Value Per Share

The following table provides a reconciliation of SWK’s GAAP book value per share to its non-GAAP tangible finance book value per share as of March 31, 2023 and 2022. The table eliminates the deferred tax assets, intangible assets, goodwill, Enteris property and equipment and acquisition-related contingent consideration.

Non-GAAP Financial Measures

This release includes non-GAAP adjusted net income, non-GAAP finance receivable segment net income, and non-GAAP tangible financing book value per share, which are metrics that are not compliant with generally accepted accounting principles in the United States (GAAP).

Non-GAAP adjusted net income is adjusted for certain items (including (i) changes in the fair-market value of public equity-related assets and SWK’s warrant assets as mark-to-market changes are non-cash, (ii) income taxes as the Company has substantial net operating losses to offset against future income, (iii) changes in the fair-market value of contingent consideration associated with the Enteris acquisition as these changes are non-cash, and (iv) depreciation and amortization expenses, primarily associated with the Enteris acquisition.

In addition to the adjustments noted above, non-GAAP finance receivable segment net income also excludes Enteris operating losses.

Non-GAAP tangible financing book value per share excludes the deferred tax asset, intangible assets, goodwill, Enteris PP&E, and contingent consideration associated with the Enteris transaction.

These non-GAAP measures may not be directly comparable to similar measures used by other companies in the Company’s industry, as other companies may define such measures differently. Management believes that these measures are useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends and provides useful additional information relating to our operations and financial condition. The Company encourages investors to carefully consider its results under GAAP, as well as its supplemental non-GAAP information and the reconciliation between these presentations, to more fully understand its business. Non-GAAP financial results are reported in addition to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. Further, non-GAAP financial measures, even if similarly titled, may not be calculated in the same manner by all companies, and therefore should not be compared.

Conference Call Information

SWK Holdings will host a conference call and live audio webcast on Thursday, May 11, 2023, at 10:00 a.m. ET, to discuss its corporate and financial results for the first quarter 2023.

Interested participants and investors may access the conference call by dialing either:

(844) 378-6488 (U.S.)

(412) 317-1079 (International)

An audio webcast will be accessible via the Investors Events & Presentations section of the SWK Holdings’ website: https://swkhold.investorroom.com/events. An archive of the webcast will remain available for 90 days beginning at approximately 11:30 a.m. ET, on May 11, 2023.

About SWK Holdings Corporation

SWK Holdings Corporation is a life science focused specialty finance company partnering with small- and mid-sized commercial-stage healthcare companies. SWK provides non-dilutive financing to fuel the development and commercialization of lifesaving and life-enhancing medical technologies and products. SWK’s unique financing structures provide flexible financing solutions at an attractive cost of capital to create long-term value for all SWK stakeholders. SWK’s solutions include structured debt, traditional royalty monetization, synthetic royalty transactions, and asset purchases typically ranging in size from $5.0 million to $25.0 million. SWK also owns Enteris BioPharma, a clinical development and manufacturing organization providing development services to pharmaceutical partners as well as innovative formulation solutions built around its proprietary oral drug delivery technologies, the Peptelligence® platform. Additional information on the life science finance market is available on the Company’s website at www.swkhold.com.

Safe Harbor For Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements including words such as “believes,” “expects,” “anticipates,” “intends,” “estimates,” “plan,” “will,” “may,” “look forward,” “intend,” “guidance,” “future” or similar expressions are forward-looking statements. Because these statements reflect SWK’s current views, expectations and beliefs concerning future events, these forward-looking statements involve risks and uncertainties. Investors should note that many factors, as more fully described under the caption “Risk Factors” and elsewhere in SWK’s Form 10-K, Form 10-Q and Form 8-K filings with the Securities and Exchange Commission and as otherwise enumerated herein, could affect the Company’s future financial results and could cause actual results to differ materially from those expressed in such forward-looking statements. The forward-looking statements in this press release are qualified by these risk factors. These are factors that, individually or in the aggregate, could cause the Company’s actual results to differ materially from expected and historical results. You should not place undue reliance on any forward-looking statements, which speak only as of the date they are made. We assume no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise.

For more information, please contact:

Tiberend Strategic Advisors, Inc.

Daniel Kontoh-Boateng (Investors)

dboateng@tiberend.com

Jason Rando (Media)

jrando@tiberend.com

SWK HOLDINGS CORPORATION

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

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SWK HOLDINGS CORPORATION

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(in thousands, except per share data)

SWK HOLDINGS CORPORATION

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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