CARA - SWK Holdings' subsidiary receives second milestone payment from Cara

SWK Holdings' (SWKH) wholly-owned subsidiary, Enteris BioPharma received a second milestone payment of $2.5M from Cara Therapeutics (CARA) with regards the license agreement for Peptelligence oral formulation technology utilized in Oral KORSUVA.According to the contractual splits agreed to in the Enteris acquisition agreement, SWK is entitled to receive $1.5M of this payment.Milestone payment follows a prior milestone payment of $2.5M received in October of which SWK received $1.5M.Over the upcoming quarters, the company is likely to receive additional potential milestone payments."Over the last week, we closed two additional transactions, one royalty purchase and one structured credit financing, deploying ~$27M. We believe the combination of the milestones and our specialty finance activities illustrate the attractiveness of our business model and our ability to source differentiated transactions with attractive, risk-adjusted returns," chairman & CEO Winston Black commented.CARA shares are down 2.74% in premarket.

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SWK Holdings' subsidiary receives second milestone payment from Cara