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Jun 30, 2023
scPharmaceuticals Q2 2023 Earnings Report
scPharmaceuticals reported its second quarter 2023 financial results and provided a business update.
Key Takeaways
scPharmaceuticals reported net FUROSCIX revenue of $1.6 million and ended the quarter with $102.9 million in cash, cash equivalents and short-term investments. The company is also planning to file for NYHA Class IV indication expansion by the end of 2023.
Generated net FUROSCIX revenue of $1.6 million.
Ended Q2 2023 with cash, cash equivalents and short-term investments of $102.9 million.
Added 10 sales territories at the end of Q2, bringing the total field force to 54 territories.
Plans to file for NYHA Class IV indication expansion by the end of 2023.
Revenue by Segment
Forward Guidance
scPharmaceuticals is focused on expanding coverage of FUROSCIX and expanding the FUROSCIX label to include NYHA Class IV heart failure patients.
Positive Outlook
- Positive coverage and a preferred formulary decision by a top five national commercial health plan, effective June 1
- National Medicaid coverage effective July 1
- Encouraging Type C meeting feedback from the FDA that opens the door to potential indication expansion to also include NYHA Class IV patients.
- Well funded, with approximately $102.9 million of cash, cash equivalents and investments
- Adding additional territories opportunistically as warranted to maximize geographic coverage and patient access to FUROSCIX
Challenges Ahead
- Risk of any unforeseen delays or setbacks in the commercialization of FUROSCIX
- Risk of the ability of the FUROSCIX On-Body Infusor to appropriately deliver therapy
- Risk of the receipt of regulatory approval for any of our product candidates or, if approved, the successful commercialization of such products
Historical Earnings Impact
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Avg. Return Before/After Earnings
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