SWK (SWKH) 10-Q 9 Nov 22 2022 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2022	Nov. 01, 2022
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2022
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--12-31
Entity File Number	001-39184
Entity Registrant Name	SWK Holdings Corporation
Entity Central Index Key	0001089907
Entity Tax Identification Number	77-0435679
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	14755 Preston Road
Entity Address, Address Line Two	Suite 105
Entity Address, City or Town	Dallas
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75254
City Area Code	972
Local Phone Number	687-7250
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		12,820,349
Common Stock [Member]
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	SWKH
Security Exchange Name	NASDAQ
Preferred Stock [Member]
Title of 12(b) Security	Preferred Stock Purchase Rights
Trading Symbol	SWKH
Security Exchange Name	NASDAQ

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 19,399	$ 42,863
Interest and accounts receivable, net	7,384	1,803
Marketable investments	500	1,034
Other current assets	1,189	1,727
Total current assets	28,472	47,427
Finance receivables, net	212,959	181,553
Marketable investments	88	119
Cost method investment	3,491	3,491
Deferred tax assets, net	17,350	20,539
Warrant assets	5,140	3,419
Intangible assets, net	8,615	9,964
Goodwill	8,404	8,404
Property and equipment, net	5,945	5,779
Other non-current assets	1,802	1,970
Total assets	292,266	282,665
Current liabilities:
Accounts payable and accrued liabilities	4,746	5,087
Revolving credit facility		8
Total current liabilities	4,746	5,095
Contingent consideration payable	8,530	8,530
Other non-current liabilities	1,544	1,804
Total liabilities	14,820	15,429
Stockholders’ equity:
Preferred stock, $0.001 par value; 5,000,000 shares authorized; no shares issued and outstanding as of September 30, 2022 and December 31, 2021, respectively
Common stock, $0.001 par value; 250,000,000 shares authorized; 12,835,304 and 12,836,133 shares issued and outstanding as of September 30, 2022 and December 31, 2021, respectively	13	13
Additional paid-in capital	4,431,270	4,431,719
Accumulated deficit	(4,153,837)	(4,164,496)
Total stockholders’ equity	277,446	267,236
Total liabilities and stockholders’ equity	$ 292,266	$ 282,665

UNAUDITED CONDENSED CONSOLIDA_2

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	5,000,000	5,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	250,000,000	250,000,000
Common Stock, Shares, Issued	12,835,304	12,836,133
Common Stock, Shares, Outstanding	12,835,304	12,836,133

UNAUDITED CONDENSED CONSOLIDA_3

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues:
Finance receivable interest income, including fees	$ 8,502	$ 9,373	$ 25,745	$ 29,857
Pharmaceutical development	5,111	187	5,461	10,846
Other	1		481	496
Total revenues	13,614	9,560	31,687	41,199
Costs and expenses:
Interest expense	82	53	242	292
Pharmaceutical manufacturing, research and development expense	1,792	2,487	5,173	5,577
Change in fair value of acquisition-related contingent consideration				(147)
Depreciation and amortization expense	634	812	1,964	3,305
General and administrative	4,349	3,580	10,527	9,825
Income from operations	6,757	2,628	13,781	22,347
Other income (expense), net
Unrealized net gain (loss) on derivatives	1,788	(214)	623	678
Unrealized net gain (loss) on equity securities	13	342	(534)	1,557
Income before income tax expense	8,558	2,756	13,870	24,582
Income tax expense	1,942	513	3,211	4,980
Net income	$ 6,616	$ 2,243	$ 10,659	$ 19,602
Net income per share
Basic	$ 0.52	$ 0.18	$ 0.83	$ 1.53
Diluted	$ 0.51	$ 0.17	$ 0.83	$ 1.53
Weighted average shares outstanding
Basic	12,832,000	12,798,000	12,832,000	12,796,000
Diluted	12,851,000	12,859,000	12,871,000	12,834,000

UNAUDITED CONDENSED CONSOLIDA_4

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Dec. 31, 2020	$ 13	$ 4,430,924	$ (4,190,425)	$ 240,512
Shares, Outstanding, Beginning Balance at Dec. 31, 2020	12,792,586
Stock-based compensation		177		177
Issuance of common stock upon vesting of restricted stock
Stock Issued During Period, Shares, New Issues	3,021
Net income			3,389	3,389
Ending balance, value at Mar. 31, 2021	$ 13	4,431,101	(4,187,036)	244,078
Shares, Outstanding, Ending Balance at Mar. 31, 2021	12,795,607
Beginning balance, value at Dec. 31, 2020	$ 13	4,430,924	(4,190,425)	240,512
Shares, Outstanding, Beginning Balance at Dec. 31, 2020	12,792,586
Stock-based compensation				556
Net settlement for employee taxes on restricted stock and options
Ending balance, value at Sep. 30, 2021	$ 13	4,431,480	(4,170,823)	260,670
Shares, Outstanding, Ending Balance at Sep. 30, 2021	12,801,313
Beginning balance, value at Mar. 31, 2021	$ 13	4,431,101	(4,187,036)	244,078
Shares, Outstanding, Beginning Balance at Mar. 31, 2021	12,795,607
Stock-based compensation		187		187
Issuance of common stock upon vesting of restricted stock
Stock Issued During Period, Shares, New Issues	2,940
Net income			13,970	13,970
Ending balance, value at Jun. 30, 2021	$ 13	4,431,288	(4,173,066)	258,235
Shares, Outstanding, Ending Balance at Jun. 30, 2021	12,798,547
Stock-based compensation		192		192
Issuance of common stock upon vesting of restricted stock
Stock Issued During Period, Shares, New Issues	2,766
Net income			2,243	2,243
Ending balance, value at Sep. 30, 2021	$ 13	4,431,480	(4,170,823)	260,670
Shares, Outstanding, Ending Balance at Sep. 30, 2021	12,801,313
Beginning balance, value at Dec. 31, 2021	$ 13	4,431,719	(4,164,496)	267,236
Shares, Outstanding, Beginning Balance at Dec. 31, 2021	12,836,133
Stock-based compensation		85		85
Issuance of common stock upon vesting of restricted stock
Stock Issued During Period, Shares, New Issues	5,495
Stock Issued During Period, Shares, Restricted Stock Award, Forfeited	(6,815)
Net income			3,478	3,478
Ending balance, value at Mar. 31, 2022	$ 13	4,431,804	(4,161,018)	270,799
Shares, Outstanding, Ending Balance at Mar. 31, 2022	12,834,813
Beginning balance, value at Dec. 31, 2021	$ 13	4,431,719	(4,164,496)	267,236
Shares, Outstanding, Beginning Balance at Dec. 31, 2021	12,836,133
Stock-based compensation				310
Net settlement for employee taxes on restricted stock and options				(160)
Ending balance, value at Sep. 30, 2022	$ 13	4,431,270	(4,153,837)	277,446
Shares, Outstanding, Ending Balance at Sep. 30, 2022	12,835,304
Beginning balance, value at Mar. 31, 2022	$ 13	4,431,804	(4,161,018)	270,799
Shares, Outstanding, Beginning Balance at Mar. 31, 2022	12,834,813
Stock-based compensation		166		166
Issuance of common stock upon vesting of restricted stock
Stock Issued During Period, Shares, New Issues	4,305
Net income			565	565
Ending balance, value at Jun. 30, 2022	$ 13	4,431,970	(4,160,453)	271,530
Shares, Outstanding, Ending Balance at Jun. 30, 2022	12,839,118
Stock-based compensation		59		59
Issuance of common stock upon vesting of restricted stock
Stock Issued During Period, Shares, New Issues	7,575
Net income			6,616	6,616
Net settlement for employee taxes on restricted stock and options		(160)		(160)
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period	23,074
Repurchases of common stock in open market		(599)		(599)
Stock Repurchased During Period, Shares	(34,463)
Ending balance, value at Sep. 30, 2022	$ 13	$ 4,431,270	$ (4,153,837)	$ 277,446
Shares, Outstanding, Ending Balance at Sep. 30, 2022	12,835,304

UNAUDITED CONDENSED CONSOLIDA_5

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net income	$ 10,659	$ 19,602
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of debt issuance costs	26	35
Deferred income taxes	3,189	4,842
Change in fair value of warrants	(623)	(678)
Change in fair value of equity securities	534	(1,557)
Change in fair value of acquisition-related contingent consideration		(147)
Loan discount amortization and fee accretion	(1,357)	(2,016)
Interest income paid-in-kind	(3,335)	(698)
Stock-based compensation	310	556
Depreciation and amortization expense	1,964	3,305
Changes in operating assets and liabilities:
Interest and accounts receivable	(5,581)	(343)
Other assets	(76)	(371)
Accounts payable and other liabilities	(603)	542
Net cash provided by operating activities	5,107	23,072
Cash flows from investing activities:
Investment in finance receivables	(71,750)	(20,100)
Repayment of finance receivables	43,938	31,162
Corporate debt securities principal payments	31	43
Purchases of property and equipment	(194)	(877)
Other	171	164
Net cash (used in) provided by investing activities	(27,804)	10,392
Cash flows from financing activities:
Net settlement for employee taxes on restricted stock and options	(160)
Net payments on credit facility	(8)	(11,750)
Payment of acquisition-related contingent consideration		(6,083)
Repurchases of common stock, including fees and expenses	(599)
Net cash used in financing activities	(767)	(17,833)
Net (decrease) increase in cash and cash equivalents	(23,464)	15,631
Cash and cash equivalents at beginning of period	42,863	3,008
Cash and cash equivalents at end of period	$ 19,399	$ 18,639

SWK Holdings Corporation and Su

SWK Holdings Corporation and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
SWK Holdings Corporation and Summary of Significant Accounting Policies	Note 1. SWK Holdings Corporation and Summary of Significant Accounting Policies Nature of Operations SWK Holdings Corporation (the “Company”) was incorporated in July 1996 in California and reincorporated in Delaware in September 1999. In July 2012, the Company commenced its strategy of building a specialty finance and asset management business. In August 2019, the Company commenced a complementary strategy of building a pharmaceutical development, manufacturing and intellectual property licensing business. The Company’s operations comprise two reportable segments: “Finance Receivables” and “Pharmaceutical Development.” The Company allocates capital to each segment in order to generate income through the sales of life science products by third parties. The Company is headquartered in Dallas, Texas, and as of September 30, 2022, the Company had 33 full-time employees. The Company has net operating loss carryforwards (“NOLs”) and believes that the ability to utilize these NOLs is an important and substantial asset. However, at this time, under current law, the Company does not anticipate that the Finance Receivables and/or Pharmaceutical Development segments will generate sufficient income to permit the Company to utilize all of its NOLs prior to their respective expiration dates. As such, it is possible that the Company might pursue additional strategies that it believes might result in the ability to utilize more of the NOLs. As of November 1, 2022, the Company and its partners have executed transactions with 48 different parties under its specialty finance strategy, funding an aggregate of $691.0 million in various financial products across the life science sector. The Company’s portfolio includes senior and subordinated debt backed by royalties and synthetic royalties paid by companies in the life science sector, and purchased royalties generated by sales of life science products and related intellectual property. During 2019, the Company commenced its Pharmaceutical Development segment with the acquisition of Enteris BioPharma, Inc. (“Enteris”). Enteris is a clinical stage biopharmaceutical company offering innovative formulation solutions built around its proprietary oral drug delivery technologies, the Peptelligence® platform. Basis of Presentation and Principles of Consolidation The Company’s consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States (“GAAP”). The consolidated financial statements include the accounts of all subsidiaries and affiliates in which the Company holds a controlling financial interest as of the financial statement date. Normally a controlling financial interest reflects ownership of a majority of the voting interests. The Company consolidates a variable interest entity (“VIE”) when it possesses both the power to direct the activities of the VIE that most significantly impact its economic performance and the Company is either obligated to absorb the losses that could potentially be significant to the VIE or the Company holds the right to receive benefits from the VIE that could potentially be significant to the VIE, after elimination of intercompany accounts and transactions. The Company owns interests in various partnerships and limited liability companies, or LLCs. The Company consolidates its investments in these partnerships or LLCs where the Company, as the general partner or managing member, exercises effective control, even though the Company’s ownership may be less than 50 percent, the related governing agreements provide the Company with broad powers, and the other parties do not participate in the management of the entities and do not effectively have the ability to remove the Company. The Company has reviewed each of the underlying agreements to determine if it has effective control. If circumstances change and it is determined this control does not exist, any such investment would be recorded using the equity method of accounting. Although this would change individual line items within the Company’s consolidated financial statements, it would have no effect on its operations and/or total stockholders’ equity attributable to the Company. Unaudited Interim Financial Information The unaudited condensed consolidated financial statements have been prepared by the Company and reflect all normal, recurring adjustments that, in the opinion of management, are necessary for a fair presentation of the interim financial information. The results of operations for the interim periods presented are not necessarily indicative of the results to be expected for any subsequent quarter or for the year ending December 31, 2022. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted under the rules and regulations of the Securities and Exchange Commission (“SEC”). These unaudited condensed consolidated financial statements and notes included herein should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K Use of Estimates The preparation of the Company’s consolidated financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates and assumptions are required in the determination of revenue recognition; stock-based compensation; valuation of accounts receivable; impairment of finance receivables; long-lived assets; property and equipment; intangible assets; goodwill; valuation of warrants and other investments; contingent consideration; income taxes; and contingencies and litigation, among others. Some of these judgments can be subjective and complex, and consequently, actual results may differ from these estimates. The Company’s estimates often are based on complex judgments, probabilities and assumptions that it believes to be reasonable but that are inherently uncertain and unpredictable. For any given individual estimate or assumption made by the Company, there may also be other estimates or assumptions that are reasonable. The Company regularly evaluates its estimates and assumptions using historical experience and other factors, including the economic environment. As future events and their effects cannot be determined with precision, the Company’s estimates and assumptions may prove to be incomplete or inaccurate, or unanticipated events and circumstances may occur that might cause changes to those estimates and assumptions. Market conditions, such as illiquid credit markets, health crises such as the COVID-19 global pandemic, volatile equity markets, and economic downturns, can increase the uncertainty already inherent in the Company’s estimates and assumptions. The Company adjusts its estimates and assumptions when facts and circumstances indicate the need for change. Those changes generally will be reflected in our consolidated financial statements on a prospective basis unless they are required to be treated retrospectively under the relevant accounting standard. It is possible that other professionals, applying reasonable judgment to the same facts and circumstances, could develop and support a range of alternative estimated amounts. Segment Information The Company earns revenues from its two Revenue Recognition The Company’s Pharmaceutical Development segment enters into collaboration and licensing agreements with strategic partners, under which it may exclusively license rights to research, develop, manufacture and commercialize its product candidates to third parties. The terms of these arrangements typically include payment to the Company of one or more of the following: non-refundable, upfront license fees; reimbursement of certain costs; customer option exercise fees; development, regulatory and commercial milestone payments; and royalties on net sales of licensed products. Deferred revenue includes amounts that have been billed per the contractual terms but have not been recognized as revenue. The Company classifies as current the portion of deferred revenue that is expected to be recognized within one year from the balance sheet date and is included in accounts payable and accrued liabilities in the unaudited condensed consolidated balance sheets. Research and Development Research and development expenses include the costs associated with internal research and development and research and development conducted for the Company by third parties. These costs primarily consist of salaries, pre-clinical and clinical trials, outside consultants, and supplies. All research and development costs discussed above are expensed as incurred. Third-party expenses reimbursed under research and development contracts, which are not refundable, are recorded as a reduction to pharmaceutical manufacturing research and development expense in the consolidated statements of income. Recent Accounting Pronouncements In March 2022, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2022-02, “Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures,” which updates the requirements for accounting for credit losses under Accounting Standards Codification 326, eliminates the accounting guidance on troubled debt restructurings for creditors, and enhances creditors’ disclosure requirements related to loan refinancings and restructurings for borrowers experiencing financial difficulty. The ASU also amends the guidance on vintage disclosures to require disclosure of gross write-offs by year of origination. The amendments are effective in periods beginning after December 15, 2022 using either a prospective or modified retrospective transition. Early adoption of certain or all of the amendments is permitted. The Company is currently evaluating the provisions of the amendments and the impact on its future consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326).” This ASU adds an impairment model, known as the current expected credit loss (“CECL”) model, that is based on expected losses rather than incurred losses. Under this guidance, an entity recognizes as an allowance its estimate of expected credit losses, which the FASB believes will result in more timely recognition of losses. This ASU describes the impairment allowance as a valuation account that is deducted from the amortized cost basis of the financial asset(s) to present the net carrying value at the amount expected to be collected on the financial asset. Credit losses relating to available-for-sale debt securities should be measured in a manner similar to current GAAP; however, the amendments in this update require that credit losses be presented as an allowance rather than as a write-down, which will allow an entity the ability to record reversals of credit losses in current period net income. On November 15, 2019, the FASB issued ASU 2019-10, “Financial Instruments - Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates,” which finalized various effective date delays for private companies, not-for-profit organizations, and certain smaller reporting companies. Under ASU 2019-10, the effective date for implementation of CECL for smaller reporting companies was extended to fiscal years, and interim periods within those years, beginning after December 15, 2022. The Company is currently evaluating the new guidance but believes it is likely to incur more upfront losses on its portfolio under the new CECL model. In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848),” which provides optional guidance for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. ASU 2020-04 provides optional expedients and exceptions for applying GAAP to transactions affected by reference rate reform if certain criteria are met. These transactions include: (i) contract modifications, (ii) hedging relationships, and (iii) sales or transfers of debt securities classified as held-to-maturity. ASU 2020-04 was effective upon issuance, and the provisions generally can be applied prospectively as of January 1, 2020 through December 31, 2024. The Company has identified existing loans that reference LIBOR and is in the process of evaluating alternatives in each situation. The Company expects that it will elect to apply some of the expedients and exceptions provided in ASU 2020-04 and does not believe the adoption of this standard will have a material impact on the Company’s consolidated financial statements.

Net Income per Share

Net Income per Share	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Net Income per Share	Note 2. Net Income per Share Basic net income per share is computed using the weighted-average number of outstanding shares of common stock. Diluted net income per share is computed using the weighted-average number of outstanding shares of common stock, and when dilutive, shares of common stock issuable upon exercise of options and warrants deemed outstanding using the treasury stock method. The following table shows the computation of basic and diluted net income per share for the following periods (in thousands, except per share amounts): Schedule of Basic and Diluted Earning per Share Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Numerator: Net income $ 6,616 $ 2,243 $ 10,659 $ 19,602 Denominator: Weighted-average shares outstanding 12,832 12,798 12,832 12,796 Effect of dilutive securities 19 61 39 38 Weighted-average diluted shares 12,851 12,859 12,871 12,834 Basic net income per share $ 0.52 $ 0.18 $ 0.83 $ 1.53 Diluted net income per share $ 0.51 $ 0.17 $ 0.83 $ 1.53 For the three months ended September 30, 2022 and 2021, outstanding options to purchase shares of common stock and outstanding shares of restricted stock in an aggregate of approximately 186,000 367,000 268,000 390,000

Finance Receivables, Net

Finance Receivables, Net	9 Months Ended
	Sep. 30, 2022
Receivables [Abstract]
Finance Receivables, Net	Note 3. Finance Receivables, Net Finance receivables are reported at their determined principal balances net of any unearned income, cumulative charge-offs and unamortized deferred fees and costs. Unearned income and deferred fees and costs are amortized to interest income based on all cash flows expected using the effective interest method. As of September 30, 2022 and December 31, 2021, the Company had a credit loss allowance of $8.4 million. Of the total $8.4 million, $ 1.2 million 0.6 million The carrying values of finance receivables are as follows (in thousands): Schedule of carrying value of finance receivables September 30, 2022 December 31, 2021 Term loans $ 180,537 $ 136,312 Royalty purchases 40,779 53,629 Total before allowance for credit losses 221,316 189,941 Allowance for credit losses (8,357 ) (8,388 ) Total carrying value $ 212,959 $ 181,553 The following table presents nonaccrual and performing finance receivables by portfolio segment, net of credit loss allowance (in thousands): Schedule of analysis of nonaccrual and performing loans by portfolio segment September 30, 2022 December 31, 2021 Nonaccrual Performing Total Nonaccrual Performing Total Term loans $ 9,789 $ 170,748 $ 180,537 $ 18,288 $ 118,024 $ 136,312 Royalty purchases, net of credit loss allowance 3,037 29,385 32,422 3,362 41,879 45,241 Total carrying value $ 12,826 $ 200,133 $ 212,959 $ 21,650 $ 159,903 $ 181,553 As of September 30, 2022, the Company had two finance receivables in nonaccrual status: (1) the term loan to Flowonix Medical, Inc. (“Flowonix”), with a net carrying value of $ 9.8 million 3.0 million

Marketable Investments

Marketable Investments	9 Months Ended
	Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Marketable Investments	Note 4. Marketable Investments Investments in available-for-sale corporate debt securities and equity securities as of September 30, 2022 and December 31, 2021 consist of the following (in thousands): Schedule of marketable investments September 30, 2022 December 31, 2021 Corporate debt securities $ 88 $ 119 Equity securities 500 1,034 Total marketable investments $ 588 $ 1,153 The amortized cost basis amounts, gross unrealized holding gains, gross unrealized holding losses and fair values of available-for-sale corporate debt securities as of September 30, 2022 and December 31, 2021, are as follows (in thousands): Schedule of marketable investments Amortized Cost Gross Unrealized Gains Gross Unrealized Loss Fair Value September 30, 2022 $ 88 $ — $ — $ 88 December 31, 2021 $ 119 $ — $ — $ 119 The following table presents unrealized net gain (loss) on equity securities during the three and nine months ended September 30, 2022 and 2021 (in thousands): Schedule of Proceeds from sales, gross unrealized gains and gross unrealized losses for available-for-sale securities Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Unrealized net gain (loss) on equity securities reflected in the unaudited condensed consolidated statements of income $ 13 $ 342 $ (534 ) $ 1,557

Intangible Assets

Intangible Assets	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Note 5. Intangible Assets The following table summarizes the gross book value, accumulated amortization and net book value balances of intangible assets as of September 30, 2022 and December 31, 2021 (in thousands): Schedule of Intangible Assets September 30, 2022 December 31, 2021 Gross Book Value Accumulated Amortization Net Book Value Gross Book Value Accumulated Amortization Net Book Value Licensing Agreement (1) $ 29,400 $ 21,096 $ 8,304 $ 29,400 $ 19,780 $ 9,620 Trade names and trademarks 210 65 145 210 50 160 Customer relationships 240 74 166 240 56 184 Total intangible assets $ 29,850 $ 21,235 $ 8,615 $ 29,850 $ 19,886 $ 9,964 (1) Prior to the acquisition, Enteris entered into a non-exclusive commercial license agreement (the “License Agreement”) with Cara Therapeutics, Inc. (“Cara”), for oral formulation rights to Enteris’ Peptelligence® technology to develop and commercialize Oral KORSUVA TM Amortization expense related to intangible assets was $ 0.4 million 0.6 million 1.3 million 2.9 million The estimated future amortization expense related to intangible assets as of September 30, 2022 is as follows (in thousands): Schedule of Intangible Asset Amortization Expense Fiscal Year Amount Remainder of 2022 $ 426 2023 1,703 2024 1,546 2025 1,076 2026 1,076 Thereafter 2,788 Total $ 8,615

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 6. Commitments and Contingencies Contingent Consideration The Company recorded contingent consideration related to the 2019 acquisition of Enteris and sharing of certain milestone and royalties due to Enteris pursuant to the License Agreement. Contingent consideration is remeasured to fair value at each reporting date until the contingency is resolved, with changes in the estimated fair value recognized in earnings. The estimated fair value of contingent consideration as of September 30, 2022 and December 31, 2021 was $ 8.5 million Unfunded Commitments As of September 30, 2022, the Company’s unfunded commitments were as follows (in millions): Schedule of Unfunded Commitments Aziyo Biologics, Inc. $ 4.0 Exeevo, Inc. 2.5 MedMinder Systems, Inc. 5.0 Trio Healthcare Ltd. Loan 1.4 Total unfunded commitments $ 12.9 Per the terms of the royalty purchase or credit agreements, unfunded commitments are contingent upon reaching an established revenue threshold or other performance metrics on or before a specified date or period of time, and in the case of loan transactions, are subject to being advanced as long as an event of default does not exist.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 7. Fair Value Measurements The Company measures and reports certain financial and non-financial assets and liabilities on a fair value basis. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). GAAP specifies a three-level hierarchy that is used when measuring and disclosing fair value. The fair value hierarchy gives the highest priority to quoted prices available in active markets (i.e., observable inputs) and the lowest priority to data lacking transparency (i.e., unobservable inputs). An instrument’s categorization within the fair value hierarchy is based on the lowest level of significant input to its valuation. The following is a description of the three hierarchy levels. Level 1 Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Active markets are considered to be those in which transactions for the assets or liabilities occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2 Quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability. This category includes quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in inactive markets. Level 3 Unobservable inputs are not corroborated by market data. This category is comprised of financial and non-financial assets and liabilities whose fair value is estimated based on internally developed models or methodologies using significant inputs that are generally less readily observable from objective sources. Transfers into or out of any hierarchy level are recognized at the end of the reporting period in which the transfers occurred. There were no transfers between any levels during the nine months ended September 30, 2022. The following information is provided to help readers gain an understanding of the relationship between amounts reported in the accompanying unaudited condensed consolidated financial statements and the related market or fair value. The disclosures include financial instruments and derivative financial instruments, other than investment in affiliates. Following are descriptions of the valuation methodologies used to measure material assets and liabilities at fair value and details of the valuation models, key inputs to those models and significant assumptions utilized. Cash and cash equivalents The carrying amounts reported in the balance sheet for cash and cash equivalents approximate those assets’ fair values. Marketable Investments Certain common equity securities are reported at fair value utilizing Level 1 inputs (exchange quoted prices). Finance Receivables The fair values of finance receivables are estimated using discounted cash flow analyses, using market rates at the balance sheet date that reflect the credit and interest rate-risk inherent in the finance receivables. Projected future cash flows are calculated based upon contractual maturity or call dates, projected repayments and prepayments of principal. These receivables are classified as Level 3. Finance receivables are not measured at fair value on a recurring basis, but estimates of fair value are reflected below. Contingent Consideration The Company recorded contingent consideration related to the 2019 acquisition of Enteris and sharing of certain milestone and royalties due to Enteris pursuant to the License Agreement. The fair value measurements of contingent consideration obligations arising from business combinations are classified as Level 3 estimates under the fair value hierarchy as these items have been valued using unobservable inputs. These inputs include: (a) the estimated amount and timing of projected cash flows; (b) the probability of the achievement of the factors on which the contingency is based; and (c) the risk-adjusted discount rate used to present value the probability-weighted cash flows. Significant increases or decreases in any of those inputs in isolation could result in a significantly lower or higher fair value measurement. Marketable Investments and Derivative Securities Marketable Investments If active market prices are available, fair value measurement is based on quoted active market prices and, accordingly, these securities would be classified as Level 1. If active market prices are not available, fair value measurement is based on observable inputs other than quoted prices included within Level 1, such as prices for similar assets or broker quotes utilizing observable inputs, and accordingly these securities would be classified as Level 2. If market prices are not available and there are no observable inputs, then fair value would be estimated by using valuation models including discounted cash flow methodologies, commonly used option-pricing models and broker quotes. Such securities would be classified as Level 3, if the valuation models and broker quotes are based on inputs that are unobservable in the market. If fair value is based on broker quotes, the Company checks the validity of received prices based on comparison to prices of other similar assets and market data such as relevant bench mark indices. Available-for-sale securities are measured at fair value on a recurring basis, while securities with no readily available fair market value are not, but estimates of fair value are reflected below. Derivative Securities For exchange-traded derivatives, fair value is based on quoted market prices, and accordingly, would be classified as Level 1. For non-exchange traded derivatives, fair value is based on option pricing models and are classified as Level 3. The following table presents financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2022 (in thousands): Schedule of fair value assets measured on recurring basis Total Carrying Value in Consolidated Balance Sheets Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial Assets Warrant assets $ 5,140 $ — $ — $ 5,140 Marketable investments 588 500 — 88 Financial Liabilities Contingent consideration payable $ 8,530 $ — $ — $ 8,530 The following table presents financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2021 (in thousands): Total Carrying Value in Consolidated Balance Sheets Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial Assets Warrant assets $ 3,419 $ — $ — $ 3,419 Marketable investments 1,153 1,034 — 119 Financial Liabilities Contingent consideration payable $ 8,530 $ — $ — $ 8,530 The changes in fair value of the warrant assets during the nine months ended September 30, 2022 and 2021 were as follows (in thousands): Schedule of fair value assets measured on recurring basis unobservable input reconciliation September 30, 2022 September 30, 2021 Fair value - December 31, 2021 $ 3,419 Fair value - December 31, 2020 $ 2,972 Issued 1,098 Issued — Canceled — Canceled — Change in fair value 623 Change in fair value 678 Fair value - September 30, 2022 $ 5,140 Fair value - September 30, 2021 $ 3,650 The Company holds warrants issued to the Company in conjunction with certain term loan investments. These warrants meet the definition of a derivative and are included in the unaudited condensed consolidated balance sheets. The fair values for warrants outstanding, which do not have a readily determinable value, are measured using the Black-Scholes option pricing model. The following ranges of assumptions were used in the models to determine fair value: Schedule of weighted average assumptions September 30, 2022 December 31, 2021 Dividend rate range — — Risk-free rate range 4.0% 4.3% 0.97% 1.44% Expected life (years) range 1.8 6.9 2.6 7.0 Expected volatility range 54.8% 139.4% 60.2% 142.0% As of September 30, 2022 and December 31, 2021, the Company had two royalties, Best and Cambia®, that were deemed to be impaired based on reductions in carrying values in prior periods. The following table presents these royalties measured at fair value on a nonrecurring basis as of September 30, 2022 and December 31, 2021 (in thousands): Schedule of fair value assets and liabilities measured on nonrecurring basis Total Carrying Value in Consolidated Balance Sheets Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) September 30, 2022 $ 4,071 $ — $ — $ 4,071 December 31, 2021 $ 5,612 $ — $ — $ 5,612 There were no liabilities measured at fair value on a nonrecurring basis as of September 30, 2022 and December 31, 2021. The following information is provided to help readers gain an understanding of the relationship between amounts reported in the accompanying unaudited condensed consolidated financial statements and the related market or fair value. The disclosures include financial instruments and derivative financial instruments measured at fair value on a recurring and non-recurring basis. Schedule of fair value by balance sheet grouping As of September 30, 2022 (in thousands): Carrying Value Fair Value Level 1 Level 2 Level 3 Financial Assets Cash and cash equivalents $ 19,399 $ 19,399 $ 19,399 $ — $ — Finance receivables 212,959 212,959 — — 212,959 Marketable investments 588 588 500 — 88 Warrant assets 5,140 5,140 — — 5,140 Financial Liabilities Contingent consideration payable $ 8,530 $ 8,530 $ — $ — $ 8,530 As of December 31, 2021 (in thousands): Carrying Value Fair Value Level 1 Level 2 Level 3 Financial Assets Cash and cash equivalents $ 42,863 $ 42,863 $ 42,863 $ — $ — Finance receivables 181,553 181,553 — — 181,553 Marketable investments 1,153 1,153 1,034 — 119 Warrant assets 3,419 3,419 — — 3,419 Financial Liabilities Contingent consideration payable $ 8,530 $ 8,530 $ — $ — $ 8,530

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Note 8. Revenue Recognition The Company’s Pharmaceutical Development segment recognizes revenues received from contracts with its customers by revenue source, as the Company believes it best depicts the nature, amount, timing and uncertainty of our revenue and cash flow. The Company’s Finance Receivables segment does not have any revenues received from contracts with customers. The following table provides the contract revenue recognized by revenue source for the three and nine months ended September 30, 2022 and 2021 (in thousands): Schedule of Revenue Recognized by Revenue Source Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Pharmaceutical Development Segment License Agreement (1) $ 5,103 $ 176 $ 5,235 $ 10,786 Pharmaceutical Development and other 8 11 706 556 Total contract revenue $ 5,111 $ 187 $ 5,941 $ 11,342 (1) $ 5.0 million The Company’s contract liabilities represent advance consideration received from customers and are recognized as revenue when the related performance obligation is satisfied. The Company’s contract liabilities are presented as deferred revenues and are included in accounts payable and accrued liabilities in the consolidated balance sheets (in thousands): Schedule of Company's Contract Liabilities September 30, December 31, 2021 Pharmaceutical Development Segment Deferred revenue $ 8 $ 185 Total contract liabilities $ 8 $ 185 During the nine months ended September 30, 2022, the Company recognized $ 0.2 million

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Segment Information	Note 9. Segment Information Selected financial and descriptive information is required to be provided about reportable operating segments, considering a “management approach” concept as the basis for identifying reportable segments. The management approach is based on the way that management organizes the segments within the Company for making operating decisions, allocating resources, and assessing performance. Consequently, the segments are evident from the structure of the Company’s internal organization, focusing on financial information that the Company’s chief executive officer uses to make decisions about the Company’s operating matters. As described in Note 1, the Company has determined it has two reportable segments: Finance Receivables and Pharmaceutical Development, and each are individually managed and provide separate services. Revenues by segment represent revenues earned on the services offered within each segment. The Company does not report assets by reportable segment, nor does the Company report results by geographic region, as these metrics are not used by the Company’s chief executive officer in assessing performance or allocating resources to the segments. Segment performance is evaluated based on several factors, including income (loss) from continuing operations before income taxes. Management uses this measure of net income (loss) to evaluate segment performance because the Company believes this measure is indicative of performance trends and the overall earnings potential of each segment. The following tables present financial information for the Company’s reportable segments for the periods indicated (in thousands): Schedule of Reportable Segments Three Months Ended September 30, 2022 Finance Receivables Pharmaceutical Development and Other Holding Company and Other Consolidated Revenue $ 8,502 $ 5,111 $ — $ 13,613 Other revenue — — 1 1 Interest expense 82 — — 82 Manufacturing, research and development — 1,792 — 1,792 Depreciation and amortization expense — 632 2 634 General and administrative 115 843 3,391 4,349 Other income, net 1,801 — — 1,801 Income tax expense — — 1,942 1,942 Net income (loss) 10,106 1,844 (5,334 ) 6,616 Three Months Ended September 30, 2021 Finance Receivables Pharmaceutical Development and Other Holding Company and Other Consolidated Revenue $ 9,373 $ 187 $ — $ 9,560 Interest expense 53 — — 53 Manufacturing, research and development — 2,487 — 2,487 Depreciation and amortization expense — 810 2 812 General and administrative 90 999 2,491 3,580 Other income, net 128 — — 128 Income tax expense — — 513 513 Net income (loss) 9,358 (4,109 ) (3,006 ) 2,243 Nine Months Ended September 30, 2022 Finance Receivables Pharmaceutical Development and Other Holding Company and Other Consolidated Revenue $ 25,745 $ 5,461 $ — $ 31,206 Other revenue — 480 1 481 Interest expense 242 — — 242 Manufacturing, research and development — 5,173 — 5,173 Depreciation and amortization expense — 1,961 3 1,964 General and administrative 219 2,783 7,525 10,527 Other income, net 89 — — 89 Income tax expense — — 3,211 3,211 Net income (loss) 25,373 (3,976 ) (10,738 ) 10,659 Nine Months Ended September 30, 2021 Finance Receivables Pharmaceutical Development and Other Holding Company and Other Consolidated Revenue $ 29,857 $ 10,846 $ — $ 40,703 Other revenue — 496 — 496 Interest expense 292 — — 292 Manufacturing, research and development — 5,577 — 5,577 Depreciation and amortization expense — 3,300 5 3,305 Change in fair value of acquisition-related contingent consideration — (147 ) — (147 ) General and administrative 2,034 3,088 4,703 9,825 Other income, net 2,235 — — 2,235 Income tax expense — — 4,980 4,980 Net income (loss) 29,766 (476 ) (9,688 ) 19,602 Included in Holding Company and Other are the expenses of the parent holding company and certain other enterprise-wide overhead costs, including public company costs and non-Enteris corporate employees, which have been included for purposes of reconciling to the consolidated amounts.

SWK Holdings Corporation and _2

SWK Holdings Corporation and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	Nature of Operations SWK Holdings Corporation (the “Company”) was incorporated in July 1996 in California and reincorporated in Delaware in September 1999. In July 2012, the Company commenced its strategy of building a specialty finance and asset management business. In August 2019, the Company commenced a complementary strategy of building a pharmaceutical development, manufacturing and intellectual property licensing business. The Company’s operations comprise two reportable segments: “Finance Receivables” and “Pharmaceutical Development.” The Company allocates capital to each segment in order to generate income through the sales of life science products by third parties. The Company is headquartered in Dallas, Texas, and as of September 30, 2022, the Company had 33 full-time employees. The Company has net operating loss carryforwards (“NOLs”) and believes that the ability to utilize these NOLs is an important and substantial asset. However, at this time, under current law, the Company does not anticipate that the Finance Receivables and/or Pharmaceutical Development segments will generate sufficient income to permit the Company to utilize all of its NOLs prior to their respective expiration dates. As such, it is possible that the Company might pursue additional strategies that it believes might result in the ability to utilize more of the NOLs. As of November 1, 2022, the Company and its partners have executed transactions with 48 different parties under its specialty finance strategy, funding an aggregate of $691.0 million in various financial products across the life science sector. The Company’s portfolio includes senior and subordinated debt backed by royalties and synthetic royalties paid by companies in the life science sector, and purchased royalties generated by sales of life science products and related intellectual property. During 2019, the Company commenced its Pharmaceutical Development segment with the acquisition of Enteris BioPharma, Inc. (“Enteris”). Enteris is a clinical stage biopharmaceutical company offering innovative formulation solutions built around its proprietary oral drug delivery technologies, the Peptelligence® platform.
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The Company’s consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States (“GAAP”). The consolidated financial statements include the accounts of all subsidiaries and affiliates in which the Company holds a controlling financial interest as of the financial statement date. Normally a controlling financial interest reflects ownership of a majority of the voting interests. The Company consolidates a variable interest entity (“VIE”) when it possesses both the power to direct the activities of the VIE that most significantly impact its economic performance and the Company is either obligated to absorb the losses that could potentially be significant to the VIE or the Company holds the right to receive benefits from the VIE that could potentially be significant to the VIE, after elimination of intercompany accounts and transactions. The Company owns interests in various partnerships and limited liability companies, or LLCs. The Company consolidates its investments in these partnerships or LLCs where the Company, as the general partner or managing member, exercises effective control, even though the Company’s ownership may be less than 50 percent, the related governing agreements provide the Company with broad powers, and the other parties do not participate in the management of the entities and do not effectively have the ability to remove the Company. The Company has reviewed each of the underlying agreements to determine if it has effective control. If circumstances change and it is determined this control does not exist, any such investment would be recorded using the equity method of accounting. Although this would change individual line items within the Company’s consolidated financial statements, it would have no effect on its operations and/or total stockholders’ equity attributable to the Company.
Unaudited Interim Financial Information	Unaudited Interim Financial Information The unaudited condensed consolidated financial statements have been prepared by the Company and reflect all normal, recurring adjustments that, in the opinion of management, are necessary for a fair presentation of the interim financial information. The results of operations for the interim periods presented are not necessarily indicative of the results to be expected for any subsequent quarter or for the year ending December 31, 2022. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted under the rules and regulations of the Securities and Exchange Commission (“SEC”). These unaudited condensed consolidated financial statements and notes included herein should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K
Use of Estimates	Use of Estimates The preparation of the Company’s consolidated financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates and assumptions are required in the determination of revenue recognition; stock-based compensation; valuation of accounts receivable; impairment of finance receivables; long-lived assets; property and equipment; intangible assets; goodwill; valuation of warrants and other investments; contingent consideration; income taxes; and contingencies and litigation, among others. Some of these judgments can be subjective and complex, and consequently, actual results may differ from these estimates. The Company’s estimates often are based on complex judgments, probabilities and assumptions that it believes to be reasonable but that are inherently uncertain and unpredictable. For any given individual estimate or assumption made by the Company, there may also be other estimates or assumptions that are reasonable. The Company regularly evaluates its estimates and assumptions using historical experience and other factors, including the economic environment. As future events and their effects cannot be determined with precision, the Company’s estimates and assumptions may prove to be incomplete or inaccurate, or unanticipated events and circumstances may occur that might cause changes to those estimates and assumptions. Market conditions, such as illiquid credit markets, health crises such as the COVID-19 global pandemic, volatile equity markets, and economic downturns, can increase the uncertainty already inherent in the Company’s estimates and assumptions. The Company adjusts its estimates and assumptions when facts and circumstances indicate the need for change. Those changes generally will be reflected in our consolidated financial statements on a prospective basis unless they are required to be treated retrospectively under the relevant accounting standard. It is possible that other professionals, applying reasonable judgment to the same facts and circumstances, could develop and support a range of alternative estimated amounts.
Segment Information	Segment Information The Company earns revenues from its two
Revenue Recognition	Revenue Recognition The Company’s Pharmaceutical Development segment enters into collaboration and licensing agreements with strategic partners, under which it may exclusively license rights to research, develop, manufacture and commercialize its product candidates to third parties. The terms of these arrangements typically include payment to the Company of one or more of the following: non-refundable, upfront license fees; reimbursement of certain costs; customer option exercise fees; development, regulatory and commercial milestone payments; and royalties on net sales of licensed products. Deferred revenue includes amounts that have been billed per the contractual terms but have not been recognized as revenue. The Company classifies as current the portion of deferred revenue that is expected to be recognized within one year from the balance sheet date and is included in accounts payable and accrued liabilities in the unaudited condensed consolidated balance sheets.
Research and Development	Research and Development Research and development expenses include the costs associated with internal research and development and research and development conducted for the Company by third parties. These costs primarily consist of salaries, pre-clinical and clinical trials, outside consultants, and supplies. All research and development costs discussed above are expensed as incurred. Third-party expenses reimbursed under research and development contracts, which are not refundable, are recorded as a reduction to pharmaceutical manufacturing research and development expense in the consolidated statements of income.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In March 2022, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2022-02, “Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures,” which updates the requirements for accounting for credit losses under Accounting Standards Codification 326, eliminates the accounting guidance on troubled debt restructurings for creditors, and enhances creditors’ disclosure requirements related to loan refinancings and restructurings for borrowers experiencing financial difficulty. The ASU also amends the guidance on vintage disclosures to require disclosure of gross write-offs by year of origination. The amendments are effective in periods beginning after December 15, 2022 using either a prospective or modified retrospective transition. Early adoption of certain or all of the amendments is permitted. The Company is currently evaluating the provisions of the amendments and the impact on its future consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326).” This ASU adds an impairment model, known as the current expected credit loss (“CECL”) model, that is based on expected losses rather than incurred losses. Under this guidance, an entity recognizes as an allowance its estimate of expected credit losses, which the FASB believes will result in more timely recognition of losses. This ASU describes the impairment allowance as a valuation account that is deducted from the amortized cost basis of the financial asset(s) to present the net carrying value at the amount expected to be collected on the financial asset. Credit losses relating to available-for-sale debt securities should be measured in a manner similar to current GAAP; however, the amendments in this update require that credit losses be presented as an allowance rather than as a write-down, which will allow an entity the ability to record reversals of credit losses in current period net income. On November 15, 2019, the FASB issued ASU 2019-10, “Financial Instruments - Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates,” which finalized various effective date delays for private companies, not-for-profit organizations, and certain smaller reporting companies. Under ASU 2019-10, the effective date for implementation of CECL for smaller reporting companies was extended to fiscal years, and interim periods within those years, beginning after December 15, 2022. The Company is currently evaluating the new guidance but believes it is likely to incur more upfront losses on its portfolio under the new CECL model. In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848),” which provides optional guidance for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. ASU 2020-04 provides optional expedients and exceptions for applying GAAP to transactions affected by reference rate reform if certain criteria are met. These transactions include: (i) contract modifications, (ii) hedging relationships, and (iii) sales or transfers of debt securities classified as held-to-maturity. ASU 2020-04 was effective upon issuance, and the provisions generally can be applied prospectively as of January 1, 2020 through December 31, 2024. The Company has identified existing loans that reference LIBOR and is in the process of evaluating alternatives in each situation. The Company expects that it will elect to apply some of the expedients and exceptions provided in ASU 2020-04 and does not believe the adoption of this standard will have a material impact on the Company’s consolidated financial statements.

Net Income per Share (Tables)

Net Income per Share (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Earning per Share	The following table shows the computation of basic and diluted net income per share for the following periods (in thousands, except per share amounts): Schedule of Basic and Diluted Earning per Share
Net Income per Share	Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Numerator: Net income $ 6,616 $ 2,243 $ 10,659 $ 19,602 Denominator: Weighted-average shares outstanding 12,832 12,798 12,832 12,796 Effect of dilutive securities 19 61 39 38 Weighted-average diluted shares 12,851 12,859 12,871 12,834 Basic net income per share $ 0.52 $ 0.18 $ 0.83 $ 1.53 Diluted net income per share $ 0.51 $ 0.17 $ 0.83 $ 1.53

Finance Receivables, Net (Table

Finance Receivables, Net (Tables)	9 Months Ended
	Sep. 30, 2022
Receivables [Abstract]
Schedule of carrying value of finance receivables	The carrying values of finance receivables are as follows (in thousands): Schedule of carrying value of finance receivables
Finance Receivables, Net	September 30, 2022 December 31, 2021 Term loans $ 180,537 $ 136,312 Royalty purchases 40,779 53,629 Total before allowance for credit losses 221,316 189,941 Allowance for credit losses (8,357 ) (8,388 ) Total carrying value $ 212,959 $ 181,553
Schedule of analysis of nonaccrual and performing loans by portfolio segment	The following table presents nonaccrual and performing finance receivables by portfolio segment, net of credit loss allowance (in thousands): Schedule of analysis of nonaccrual and performing loans by portfolio segment
Finance Receivables, Net (Details 2)	September 30, 2022 December 31, 2021 Nonaccrual Performing Total Nonaccrual Performing Total Term loans $ 9,789 $ 170,748 $ 180,537 $ 18,288 $ 118,024 $ 136,312 Royalty purchases, net of credit loss allowance 3,037 29,385 32,422 3,362 41,879 45,241 Total carrying value $ 12,826 $ 200,133 $ 212,959 $ 21,650 $ 159,903 $ 181,553

Marketable Investments (Tables)

Marketable Investments (Tables)	9 Months Ended
	Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Schedule of marketable investments	Investments in available-for-sale corporate debt securities and equity securities as of September 30, 2022 and December 31, 2021 consist of the following (in thousands): Schedule of marketable investments
Marketable Investments	September 30, 2022 December 31, 2021 Corporate debt securities $ 88 $ 119 Equity securities 500 1,034 Total marketable investments $ 588 $ 1,153
Schedule of marketable investments	The amortized cost basis amounts, gross unrealized holding gains, gross unrealized holding losses and fair values of available-for-sale corporate debt securities as of September 30, 2022 and December 31, 2021, are as follows (in thousands): Schedule of marketable investments
Marketable Investments (Details 2)	Amortized Cost Gross Unrealized Gains Gross Unrealized Loss Fair Value September 30, 2022 $ 88 $ — $ — $ 88 December 31, 2021 $ 119 $ — $ — $ 119
Schedule of Proceeds from sales, gross unrealized gains and gross unrealized losses for available-for-sale securities	The following table presents unrealized net gain (loss) on equity securities during the three and nine months ended September 30, 2022 and 2021 (in thousands): Schedule of Proceeds from sales, gross unrealized gains and gross unrealized losses for available-for-sale securities
Marketable Investments (Details 3)	Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Unrealized net gain (loss) on equity securities reflected in the unaudited condensed consolidated statements of income $ 13 $ 342 $ (534 ) $ 1,557

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	The following table summarizes the gross book value, accumulated amortization and net book value balances of intangible assets as of September 30, 2022 and December 31, 2021 (in thousands): Schedule of Intangible Assets September 30, 2022 December 31, 2021 Gross Book Value Accumulated Amortization Net Book Value Gross Book Value Accumulated Amortization Net Book Value Licensing Agreement (1) $ 29,400 $ 21,096 $ 8,304 $ 29,400 $ 19,780 $ 9,620 Trade names and trademarks 210 65 145 210 50 160 Customer relationships 240 74 166 240 56 184 Total intangible assets $ 29,850 $ 21,235 $ 8,615 $ 29,850 $ 19,886 $ 9,964 (1) Prior to the acquisition, Enteris entered into a non-exclusive commercial license agreement (the “License Agreement”) with Cara Therapeutics, Inc. (“Cara”), for oral formulation rights to Enteris’ Peptelligence® technology to develop and commercialize Oral KORSUVA TM
[custom:DisclosureIntangibleAssetsDetailsAbstract]	September 30, 2022 December 31, 2021 Gross Book Value Accumulated Amortization Net Book Value Gross Book Value Accumulated Amortization Net Book Value Licensing Agreement (1) $ 29,400 $ 21,096 $ 8,304 $ 29,400 $ 19,780 $ 9,620 Trade names and trademarks 210 65 145 210 50 160 Customer relationships 240 74 166 240 56 184 Total intangible assets $ 29,850 $ 21,235 $ 8,615 $ 29,850 $ 19,886 $ 9,964 (1) Prior to the acquisition, Enteris entered into a non-exclusive commercial license agreement (the “License Agreement”) with Cara Therapeutics, Inc. (“Cara”), for oral formulation rights to Enteris’ Peptelligence® technology to develop and commercialize Oral KORSUVA TM
Schedule of Intangible Asset Amortization Expense	The estimated future amortization expense related to intangible assets as of September 30, 2022 is as follows (in thousands): Schedule of Intangible Asset Amortization Expense
Intangible Assets (Details 2)	Fiscal Year Amount Remainder of 2022 $ 426 2023 1,703 2024 1,546 2025 1,076 2026 1,076 Thereafter 2,788 Total $ 8,615

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of Unfunded Commitments	As of September 30, 2022, the Company’s unfunded commitments were as follows (in millions): Schedule of Unfunded Commitments
Commitments and Contingencies	Aziyo Biologics, Inc. $ 4.0 Exeevo, Inc. 2.5 MedMinder Systems, Inc. 5.0 Trio Healthcare Ltd. Loan 1.4 Total unfunded commitments $ 12.9

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of fair value assets measured on recurring basis	The following table presents financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2022 (in thousands): Schedule of fair value assets measured on recurring basis Total Carrying Value in Consolidated Balance Sheets Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial Assets Warrant assets $ 5,140 $ — $ — $ 5,140 Marketable investments 588 500 — 88 Financial Liabilities Contingent consideration payable $ 8,530 $ — $ — $ 8,530 The following table presents financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2021 (in thousands): Total Carrying Value in Consolidated Balance Sheets Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial Assets Warrant assets $ 3,419 $ — $ — $ 3,419 Marketable investments 1,153 1,034 — 119 Financial Liabilities Contingent consideration payable $ 8,530 $ — $ — $ 8,530
[custom:DisclosureFairValueMeasurementsDetailsAbstract]	Total Carrying Value in Consolidated Balance Sheets Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial Assets Warrant assets $ 5,140 $ — $ — $ 5,140 Marketable investments 588 500 — 88 Financial Liabilities Contingent consideration payable $ 8,530 $ — $ — $ 8,530 The following table presents financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2021 (in thousands): Total Carrying Value in Consolidated Balance Sheets Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial Assets Warrant assets $ 3,419 $ — $ — $ 3,419 Marketable investments 1,153 1,034 — 119 Financial Liabilities Contingent consideration payable $ 8,530 $ — $ — $ 8,530
Schedule of fair value assets measured on recurring basis unobservable input reconciliation	The changes in fair value of the warrant assets during the nine months ended September 30, 2022 and 2021 were as follows (in thousands): Schedule of fair value assets measured on recurring basis unobservable input reconciliation
Fair Value Measurements (Details 2)	September 30, 2022 September 30, 2021 Fair value - December 31, 2021 $ 3,419 Fair value - December 31, 2020 $ 2,972 Issued 1,098 Issued — Canceled — Canceled — Change in fair value 623 Change in fair value 678 Fair value - September 30, 2022 $ 5,140 Fair value - September 30, 2021 $ 3,650
Schedule of weighted average assumptions	Schedule of weighted average assumptions
Fair Value Measurements (Details 3)	September 30, 2022 December 31, 2021 Dividend rate range — — Risk-free rate range 4.0% 4.3% 0.97% 1.44% Expected life (years) range 1.8 6.9 2.6 7.0 Expected volatility range 54.8% 139.4% 60.2% 142.0%
Schedule of fair value assets and liabilities measured on nonrecurring basis	Schedule of fair value assets and liabilities measured on nonrecurring basis
Fair Value Measurements (Details 4)	Total Carrying Value in Consolidated Balance Sheets Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) September 30, 2022 $ 4,071 $ — $ — $ 4,071 December 31, 2021 $ 5,612 $ — $ — $ 5,612
Schedule of fair value by balance sheet grouping	The following information is provided to help readers gain an understanding of the relationship between amounts reported in the accompanying unaudited condensed consolidated financial statements and the related market or fair value. The disclosures include financial instruments and derivative financial instruments measured at fair value on a recurring and non-recurring basis. Schedule of fair value by balance sheet grouping As of September 30, 2022 (in thousands): Carrying Value Fair Value Level 1 Level 2 Level 3 Financial Assets Cash and cash equivalents $ 19,399 $ 19,399 $ 19,399 $ — $ — Finance receivables 212,959 212,959 — — 212,959 Marketable investments 588 588 500 — 88 Warrant assets 5,140 5,140 — — 5,140 Financial Liabilities Contingent consideration payable $ 8,530 $ 8,530 $ — $ — $ 8,530 As of December 31, 2021 (in thousands): Carrying Value Fair Value Level 1 Level 2 Level 3 Financial Assets Cash and cash equivalents $ 42,863 $ 42,863 $ 42,863 $ — $ — Finance receivables 181,553 181,553 — — 181,553 Marketable investments 1,153 1,153 1,034 — 119 Warrant assets 3,419 3,419 — — 3,419 Financial Liabilities Contingent consideration payable $ 8,530 $ 8,530 $ — $ — $ 8,530
[custom:DisclosureFairValueMeasurementsDetails5Abstract]	Carrying Value Fair Value Level 1 Level 2 Level 3 Financial Assets Cash and cash equivalents $ 19,399 $ 19,399 $ 19,399 $ — $ — Finance receivables 212,959 212,959 — — 212,959 Marketable investments 588 588 500 — 88 Warrant assets 5,140 5,140 — — 5,140 Financial Liabilities Contingent consideration payable $ 8,530 $ 8,530 $ — $ — $ 8,530 As of December 31, 2021 (in thousands): Carrying Value Fair Value Level 1 Level 2 Level 3 Financial Assets Cash and cash equivalents $ 42,863 $ 42,863 $ 42,863 $ — $ — Finance receivables 181,553 181,553 — — 181,553 Marketable investments 1,153 1,153 1,034 — 119 Warrant assets 3,419 3,419 — — 3,419 Financial Liabilities Contingent consideration payable $ 8,530 $ 8,530 $ — $ — $ 8,530

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Schedule of Revenue Recognized by Revenue Source	The following table provides the contract revenue recognized by revenue source for the three and nine months ended September 30, 2022 and 2021 (in thousands): Schedule of Revenue Recognized by Revenue Source Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Pharmaceutical Development Segment License Agreement (1) $ 5,103 $ 176 $ 5,235 $ 10,786 Pharmaceutical Development and other 8 11 706 556 Total contract revenue $ 5,111 $ 187 $ 5,941 $ 11,342 (1) $ 5.0 million
[custom:DisclosureRevenueRecognitionDetailsAbstract]	Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Pharmaceutical Development Segment License Agreement (1) $ 5,103 $ 176 $ 5,235 $ 10,786 Pharmaceutical Development and other 8 11 706 556 Total contract revenue $ 5,111 $ 187 $ 5,941 $ 11,342 (1) $ 5.0 million
Schedule of Company's Contract Liabilities	The Company’s contract liabilities are presented as deferred revenues and are included in accounts payable and accrued liabilities in the consolidated balance sheets (in thousands): Schedule of Company's Contract Liabilities
Revenue Recognition (Details 2)	September 30, December 31, 2021 Pharmaceutical Development Segment Deferred revenue $ 8 $ 185 Total contract liabilities $ 8 $ 185

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Schedule of Reportable Segments	The following tables present financial information for the Company’s reportable segments for the periods indicated (in thousands): Schedule of Reportable Segments Three Months Ended September 30, 2022 Finance Receivables Pharmaceutical Development and Other Holding Company and Other Consolidated Revenue $ 8,502 $ 5,111 $ — $ 13,613 Other revenue — — 1 1 Interest expense 82 — — 82 Manufacturing, research and development — 1,792 — 1,792 Depreciation and amortization expense — 632 2 634 General and administrative 115 843 3,391 4,349 Other income, net 1,801 — — 1,801 Income tax expense — — 1,942 1,942 Net income (loss) 10,106 1,844 (5,334 ) 6,616 Three Months Ended September 30, 2021 Finance Receivables Pharmaceutical Development and Other Holding Company and Other Consolidated Revenue $ 9,373 $ 187 $ — $ 9,560 Interest expense 53 — — 53 Manufacturing, research and development — 2,487 — 2,487 Depreciation and amortization expense — 810 2 812 General and administrative 90 999 2,491 3,580 Other income, net 128 — — 128 Income tax expense — — 513 513 Net income (loss) 9,358 (4,109 ) (3,006 ) 2,243 Nine Months Ended September 30, 2022 Finance Receivables Pharmaceutical Development and Other Holding Company and Other Consolidated Revenue $ 25,745 $ 5,461 $ — $ 31,206 Other revenue — 480 1 481 Interest expense 242 — — 242 Manufacturing, research and development — 5,173 — 5,173 Depreciation and amortization expense — 1,961 3 1,964 General and administrative 219 2,783 7,525 10,527 Other income, net 89 — — 89 Income tax expense — — 3,211 3,211 Net income (loss) 25,373 (3,976 ) (10,738 ) 10,659 Nine Months Ended September 30, 2021 Finance Receivables Pharmaceutical Development and Other Holding Company and Other Consolidated Revenue $ 29,857 $ 10,846 $ — $ 40,703 Other revenue — 496 — 496 Interest expense 292 — — 292 Manufacturing, research and development — 5,577 — 5,577 Depreciation and amortization expense — 3,300 5 3,305 Change in fair value of acquisition-related contingent consideration — (147 ) — (147 ) General and administrative 2,034 3,088 4,703 9,825 Other income, net 2,235 — — 2,235 Income tax expense — — 4,980 4,980 Net income (loss) 29,766 (476 ) (9,688 ) 19,602
[custom:DisclosureSegmentInformationDetailsAbstract]	Three Months Ended September 30, 2022 Finance Receivables Pharmaceutical Development and Other Holding Company and Other Consolidated Revenue $ 8,502 $ 5,111 $ — $ 13,613 Other revenue — — 1 1 Interest expense 82 — — 82 Manufacturing, research and development — 1,792 — 1,792 Depreciation and amortization expense — 632 2 634 General and administrative 115 843 3,391 4,349 Other income, net 1,801 — — 1,801 Income tax expense — — 1,942 1,942 Net income (loss) 10,106 1,844 (5,334 ) 6,616 Three Months Ended September 30, 2021 Finance Receivables Pharmaceutical Development and Other Holding Company and Other Consolidated Revenue $ 9,373 $ 187 $ — $ 9,560 Interest expense 53 — — 53 Manufacturing, research and development — 2,487 — 2,487 Depreciation and amortization expense — 810 2 812 General and administrative 90 999 2,491 3,580 Other income, net 128 — — 128 Income tax expense — — 513 513 Net income (loss) 9,358 (4,109 ) (3,006 ) 2,243 Nine Months Ended September 30, 2022 Finance Receivables Pharmaceutical Development and Other Holding Company and Other Consolidated Revenue $ 25,745 $ 5,461 $ — $ 31,206 Other revenue — 480 1 481 Interest expense 242 — — 242 Manufacturing, research and development — 5,173 — 5,173 Depreciation and amortization expense — 1,961 3 1,964 General and administrative 219 2,783 7,525 10,527 Other income, net 89 — — 89 Income tax expense — — 3,211 3,211 Net income (loss) 25,373 (3,976 ) (10,738 ) 10,659 Nine Months Ended September 30, 2021 Finance Receivables Pharmaceutical Development and Other Holding Company and Other Consolidated Revenue $ 29,857 $ 10,846 $ — $ 40,703 Other revenue — 496 — 496 Interest expense 292 — — 292 Manufacturing, research and development — 5,577 — 5,577 Depreciation and amortization expense — 3,300 5 3,305 Change in fair value of acquisition-related contingent consideration — (147 ) — (147 ) General and administrative 2,034 3,088 4,703 9,825 Other income, net 2,235 — — 2,235 Income tax expense — — 4,980 4,980 Net income (loss) 29,766 (476 ) (9,688 ) 19,602

SWK Holdings Corporation and _3

SWK Holdings Corporation and Summary of Significant Accounting Policies (Details Narrative)	9 Months Ended
	Sep. 30, 2022 Number
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of Operating Segments	2

Net Income per Share (Details)

Net Income per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Earnings Per Share [Abstract]
Net income	$ 6,616	$ 2,243	$ 2,243	$ 10,659	$ 19,602
Weighted-average shares outstanding	12,832,000	12,798,000	12,798,000	12,832,000	12,796,000
Effect of dilutive securities	19,000		61,000	39,000	38,000
Weighted-average diluted shares	12,851,000	12,859,000	12,859,000	12,871,000	12,834,000
Basic net income per share	$ 0.52	$ 0.18	$ 0.18	$ 0.83	$ 1.53
Diluted net income per share	$ 0.51	$ 0.17	$ 0.17	$ 0.83	$ 1.53

Net Income per Share (Details N

Net Income per Share (Details Narrative) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Earnings Per Share [Abstract]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	186,000	367,000	268,000	390,000

Finance Receivables, Net (Detai

Finance Receivables, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total before allowance for credit losses	$ 221,316	$ 189,941
Allowance for credit losses	(8,357)	(8,388)
Total carrying value	212,959	181,553
Life Science Term Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total before allowance for credit losses	180,537	136,312
Total carrying value	180,537	136,312
Life Science Royalty Purchases [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total before allowance for credit losses	40,779	53,629
Total carrying value	$ 32,422	$ 45,241

Finance Receivables, Net (Det_2

Finance Receivables, Net (Details 2) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Financing Receivable, Credit Quality Indicator [Line Items]
Total carrying value	$ 212,959	$ 181,553
Life Science Term Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Total carrying value	180,537	136,312
Life Science Royalty Purchases [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Total carrying value	32,422	45,241
Nonperforming Financial Instruments [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Total carrying value	12,826	21,650
Nonperforming Financial Instruments [Member] | Life Science Term Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Total carrying value	9,789	18,288
Nonperforming Financial Instruments [Member] | Life Science Royalty Purchases [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Total carrying value	3,037	3,362
Performing Financial Instruments [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Total carrying value	200,133	159,903
Performing Financial Instruments [Member] | Life Science Term Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Total carrying value	170,748	118,024
Performing Financial Instruments [Member] | Life Science Royalty Purchases [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Total carrying value	$ 29,385	$ 41,879

Finance Receivables, Net (Det_3

Finance Receivables, Net (Details Narrative) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Financing Receivable, Allowance for Credit Loss	$ 8,357	$ 8,388
Cambia [Member]
Defined Benefit Plan Disclosure [Line Items]
Financing Receivable, Allowance for Credit Loss	1,200
Besivance [Member]
Defined Benefit Plan Disclosure [Line Items]
Financing Receivable, Allowance for Credit Loss	600
Flowonix Medical Inc [Member]
Defined Benefit Plan Disclosure [Line Items]
Loans and Leases Receivable, Gross	9,800
Best Royalty [Member]
Defined Benefit Plan Disclosure [Line Items]
Loans and Leases Receivable, Gross	$ 3,000

Marketable Investments (Details

Marketable Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Corporate debt securities	$ 88	$ 119
Equity securities	500	1,034
Total marketable investments	$ 588	$ 1,153

Marketable Investments (Detai_2

Marketable Investments (Details 2) - Corporate Debt Securities [Member] - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Marketable Securities [Line Items]
Debt Securities, Available-for-Sale, Amortized Cost	$ 88	$ 119
Available-for-Sale Securities, Gross Unrealized Gain
Available-for-Sale Securities	$ 88	$ 119

Marketable Investments (Detai_3

Marketable Investments (Details 3) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Marketable Securities, Unrealized Gain (Loss)	$ 13	$ 342	$ (534)	$ 1,557

Intangible Assets (Details)

Intangible Assets (Details) - USD ($) $ in Thousands		Sep. 30, 2022	Dec. 31, 2021
Indefinite-Lived Intangible Assets [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		$ 29,850	$ 29,850
Finite-Lived Intangible Assets, Accumulated Amortization		21,235	19,886
Intangible Assets, Current		8,615	9,964
Licensing Agreements [Member]
Indefinite-Lived Intangible Assets [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	[1]	29,400	29,400
Finite-Lived Intangible Assets, Accumulated Amortization	[1]	21,096	19,780
Intangible Assets, Current	[1]	8,304	9,620
Trademarks and Trade Names [Member]
Indefinite-Lived Intangible Assets [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		210	210
Finite-Lived Intangible Assets, Accumulated Amortization		65	50
Intangible Assets, Current		145	160
Customer Relationships [Member]
Indefinite-Lived Intangible Assets [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		240	240
Finite-Lived Intangible Assets, Accumulated Amortization		74	56
Intangible Assets, Current		$ 166	$ 184
[1]Prior to the acquisition, Enteris entered into a non-exclusive commercial license agreement (the “License Agreement”) with Cara Therapeutics, Inc. (“Cara”), for oral formulation rights to Enteris’ Peptelligence® technology to develop and commercialize Oral KORSUVA TM

Intangible Assets (Details 2)

Intangible Assets (Details 2) $ in Thousands	Sep. 30, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2022	$ 426
2023	1,703
2024	1,546
2025	1,076
2026	1,076
Thereafter	2,788
Total	$ 8,615

Intangible Assets (Details Narr

Intangible Assets (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of Intangible Assets	$ 400	$ 600	$ 1,300	$ 2,900

Commitments and Contingencies_2

Commitments and Contingencies (Details) - Unfunded Loan Commitment [Member] $ in Thousands	Sep. 30, 2022 USD ($)
Financing Receivable, Past Due [Line Items]
Commitments and Contingencies	$ 12,900
Aziyo Biologics Inc [Member]
Financing Receivable, Past Due [Line Items]
Commitments and Contingencies	4,000
Exeevo Inc [Member]
Financing Receivable, Past Due [Line Items]
Commitments and Contingencies	2,500
Med Minder Systems Inc [Member]
Financing Receivable, Past Due [Line Items]
Commitments and Contingencies	5,000
Trio Healthcare Ltd. Loan
Financing Receivable, Past Due [Line Items]
Commitments and Contingencies	$ 1,400

Commitments and Contingencies_3

Commitments and Contingencies (Details Narrative) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Contingent Consideration Classified as Equity, Fair Value Disclosure	$ 8,500	$ 8,500

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
Financial Assets
Warrant assets	$ 5,140	$ 3,419
Financial Liabilities
Contingent consideration payable	8,530	8,530
Fair Value, Inputs, Level 1 [Member]
Financial Assets
Marketable investments	500	1,034
Financial Liabilities
Contingent consideration payable
Fair Value, Inputs, Level 2 [Member]
Financial Assets
Marketable investments
Financial Liabilities
Contingent consideration payable
Fair Value, Inputs, Level 3 [Member]
Financial Assets
Marketable investments	88	119
Financial Liabilities
Contingent consideration payable	8,530	8,530
Fair Value, Recurring [Member]
Financial Assets
Warrant assets	5,140	3,419
Marketable investments	588	1,153
Financial Liabilities
Contingent consideration payable	8,530	8,530
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Financial Assets
Warrant assets
Marketable investments	500	1,034
Financial Liabilities
Contingent consideration payable
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Financial Assets
Warrant assets
Marketable investments
Financial Liabilities
Contingent consideration payable
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Financial Assets
Warrant assets	5,140	3,419	$ 3,650	$ 2,972
Marketable investments	88	119
Financial Liabilities
Contingent consideration payable	$ 8,530	$ 8,530

Fair Value Measurements (Deta_2

Fair Value Measurements (Details 2) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value - December 31, 2021	$ 3,419
Change in fair value	(623)	$ (678)
Fair value - September 30, 2022	5,140
Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value - December 31, 2021	3,419
Fair value - September 30, 2022	5,140
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value - December 31, 2021	3,419	2,972
Issued	1,098
Canceled
Change in fair value	623	678
Fair value - September 30, 2022	$ 5,140	$ 3,650

Fair Value Measurements (Deta_3

Fair Value Measurements (Details 3) - Warrant [Member]	9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate	0%
Maximum [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	4.30%		1.44%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term	6 years 10 months 24 days		7 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate	139.40%		142%
Minimum [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	4%		0.97%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term	1 year 9 months 18 days		2 years 7 months 6 days
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate	54.80%		60.20%

Fair Value Measurements (Deta_4

Fair Value Measurements (Details 4) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
December 31, 2021	$ 500	$ 1,034
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
December 31, 2021
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
December 31, 2021	88	119
Fair Value, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
December 31, 2021	4,071	5,612
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
December 31, 2021
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
December 31, 2021
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
December 31, 2021	$ 4,071	$ 5,612

Fair Value Measurements (Deta_5

Fair Value Measurements (Details 5) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
Financial Assets
Cash and cash equivalents	$ 19,399	$ 42,863	$ 18,639	$ 3,008
Financial Liabilities
Contingent consideration payable	8,530	8,530
Fair Value, Inputs, Level 1 [Member]
Financial Assets
Cash and cash equivalents	19,399	42,863
Finance receivables
Marketable investments	500	1,034
Warrant assets
Financial Liabilities
Contingent consideration payable
Fair Value, Inputs, Level 2 [Member]
Financial Assets
Cash and cash equivalents
Finance receivables
Marketable investments
Warrant assets
Financial Liabilities
Contingent consideration payable
Fair Value, Inputs, Level 3 [Member]
Financial Assets
Cash and cash equivalents
Finance receivables	212,959	181,553
Marketable investments	88	119
Warrant assets	5,140	3,419
Financial Liabilities
Contingent consideration payable	8,530	8,530
Reported Value Measurement [Member]
Financial Assets
Cash and cash equivalents	19,399	42,863
Finance receivables	212,959	181,553
Marketable investments	588	1,153
Warrant assets	5,140	3,419
Financial Liabilities
Contingent consideration payable	8,530	8,530
Estimate of Fair Value Measurement [Member]
Financial Assets
Cash and cash equivalents	19,399	42,863
Finance receivables	212,959	181,553
Marketable investments	588	1,153
Warrant assets	5,140	3,419
Financial Liabilities
Contingent consideration payable	$ 8,530	$ 8,530

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Financing Receivable, Past Due [Line Items]
Total contract revenue		$ 13,614	$ 9,560	$ 31,687	$ 41,199
Pharmaceutical Development Services [Member]
Financing Receivable, Past Due [Line Items]
Total contract revenue		5,111	187	5,941	11,342
Pharmaceutical Development Services [Member] | Licensing Agreements [Member]
Financing Receivable, Past Due [Line Items]
Total contract revenue	[1]	5,103	176	5,235	10,786
Pharmaceutical Development Services [Member] | Other Intangible Assets [Member]
Financing Receivable, Past Due [Line Items]
Total contract revenue		$ 8	$ 11	706	$ 556
Enteris License Agreement [Member]
Financing Receivable, Past Due [Line Items]
Revenue Recognition, Milestone Method, Revenue Recognized				$ 5,000,000
[1]$ 5.0 million

Revenue Recognition (Details 2)

Revenue Recognition (Details 2) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Deferred revenue	$ 8	$ 185
Total contract liabilities	$ 8	$ 185

Revenue Recognition (Details Na

Revenue Recognition (Details Narrative) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Pharmaceutical Development Services [Member]
Financing Receivable, Past Due [Line Items]
Increase (Decrease) in Accounts Receivable	$ 200

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Financing Receivable, Past Due [Line Items]
Revenue	$ 13,613	$ 9,560		$ 31,206	$ 40,703
Other revenue	1			481	496
Interest expense	82	53		242	292
Manufacturing, research and development	1,792	2,487		5,173	5,577
Depreciation and amortization expense	634	812		1,964	3,305
General and administrative	4,349	3,580		10,527	9,825
Other income, net	1,801	128		89	2,235
Income tax expense	1,942	513		3,211	4,980
Net income (loss)	6,616	2,243	$ 2,243	10,659	19,602
Change in fair value of acquisition-related contingent consideration					(147)
Financing Receivable [Member]
Financing Receivable, Past Due [Line Items]
Revenue	8,502	9,373		25,745	29,857
Other revenue
Interest expense	82	53		242	292
Manufacturing, research and development
Depreciation and amortization expense
General and administrative	115	90		219	2,034
Other income, net	1,801	128		89	2,235
Income tax expense
Net income (loss)	10,106	9,358		25,373	29,766
Change in fair value of acquisition-related contingent consideration
Pharmaceutical Development Services [Member]
Financing Receivable, Past Due [Line Items]
Revenue	5,111	187		5,461	10,846
Other revenue				480	496
Interest expense
Manufacturing, research and development	1,792	2,487		5,173	5,577
Depreciation and amortization expense	632	810		1,961	3,300
General and administrative	843	999		2,783	3,088
Other income, net
Income tax expense
Net income (loss)	1,844	(4,109)		(3,976)	(476)
Change in fair value of acquisition-related contingent consideration					(147)
Holding Company And Other [Member]
Financing Receivable, Past Due [Line Items]
Revenue
Other revenue	1			1
Interest expense
Manufacturing, research and development
Depreciation and amortization expense	2	2		3	5
General and administrative	3,391	2,491		7,525	4,703
Other income, net
Income tax expense	1,942	513		3,211	4,980
Net income (loss)	$ (5,334)	$ (3,006)		$ (10,738)	(9,688)
Change in fair value of acquisition-related contingent consideration