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Sep 30, 2024
scPharmaceuticals Q3 2024 Earnings Report
scPharmaceuticals reported Q3 2024 results, with FUROSCIX revenue increasing and progress made on label expansion and autoinjector program.
Key Takeaways
scPharmaceuticals reported a net FUROSCIX revenue of $10.0 million for Q3 2024, a 164% increase compared to Q3 2023. The company also received approval for label expansion to include NYHA Class IV patients and announced positive data on its Autoinjector program. A transformative financing of $125 million is expected to fund operations through expected profitability. The company reported a net loss of $35.1 million, or $0.75 per share, which included one-time charges of $0.47 per share.
Net FUROSCIX revenue reached $10.0 million, up 164% from Q3 2023.
Label expansion approved to include New York Heart Association (NYHA) Class IV Patients.
Positive pharmacokinetic/pharmacodynamic (PK/PD) data reported for Autoinjector program.
Completed $125 million financing anticipated to fund the Company through expected profitability.
scPharmaceuticals
scPharmaceuticals
scPharmaceuticals Revenue by Segment
Revenue by Segment
FUROSCIX Revenue
CapyFin.com Forward Guidance
scPharmaceuticals is focused on expanding the FUROSCIX indication, developing the Autoinjector, and advancing pre-launch activities for patients with fluid overload due to CKD.
Positive Outlook
- Continued growth of FUROSCIX net revenue.
- Increased penetration into the Class IV chronic heart failure patient population.
- Expansion of the sales force completed in late September.
- Significant increase in the FUROSCIX purchase flow from IDNs and hospital systems.
- Advancing pre-launch activities in anticipation of PDUFA target action date on March 6, 2025, in patients with fluid overload due to CKD.
Challenges Ahead
- Dependence on the commercial success of FUROSCIX.
- Risks related to the receipt of regulatory approval for product candidates.
- Risks related to the ability to manufacture sufficient product for commercialization.
- History of operating losses and expectation to incur significant and increasing losses for the foreseeable future.
- The terms of credit facility place restrictions on operating and financial flexibility.