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Mar 31, 2020
scPharmaceuticals Q1 2020 Earnings Report
scPharmaceuticals reported first quarter 2020 financial results and provided a business update.
Key Takeaways
scPharmaceuticals reported a net loss of $7.1 million for the first quarter of 2020. They ended the quarter with $75.5 million in cash, cash equivalents, and restricted cash. The company is adjusting its prior forecasted 2020 loss to be in the range of $36.0 to $40.0 million for the fiscal year.
Remain on track to resubmit the FUROSCIX NDA with the FDA by mid-year 2020.
Device validation and drug stability testing remain on track to be completed prior to the resubmission of the FUROSCIX NDA.
Completed a third-party market research study as part of pre-commercialization preparation, supporting the opportunity for FUROSCIX to provide IV-level diuresis in outpatient settings.
Ended the first quarter with $75.5 million in cash, cash equivalents, and restricted cash.
Forward Guidance
Based on the Company’s current operating plan and variation of quarterly expenses, scPharmaceuticals is adjusting its prior forecasted 2020 loss of $9.0 to $11.0 million per quarter. The Company expects the loss for 2020 to be lower than prior guidance and in the range of $36.0 to $40.0 million for the fiscal year.
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