scPharmaceuticals Q4 2023 Earnings Report
Key Takeaways
scPharmaceuticals reported Q4 2023 net FUROSCIX® revenue of $6.1 million, representing a 61% sequential growth from Q3 2023. The company ended the year with $76 million in cash, cash equivalents, and short-term investments.
Net FUROSCIX revenue was $6.1 million, up 61% sequentially compared to Q3 2023.
Total FUROSCIX doses written reached 13,542, a 56% sequential increase.
FUROSCIX doses filled totaled 7,016, up 44% sequentially.
The company ended Q4 with cash, cash equivalents, and short-term investments of $76.0 million.
scPharmaceuticals
scPharmaceuticals
scPharmaceuticals Revenue by Segment
Forward Guidance
scPharmaceuticals is on track to initiate a pivotal pharmacokinetic (PK) study in Q2 to support development of an 80mg/1mL auto-injector and plans to submit an sNDA to the FDA next month seeking expansion of the FUROSCIX indication to include patients suffering from chronic kidney disease (CKD).
Positive Outlook
- Initiate a pivotal pharmacokinetic (PK) study in Q2 to support development of an 80mg/1mL auto-injector.
- If successful, submit a New Drug Application (NDA) to the FDA by the end of 2024.
- Submit an sNDA to the FDA next month seeking expansion of the FUROSCIX indication to include patients suffering from chronic kidney disease (CKD).
- Continue to see sales of FUROSCIX to integrated delivery networks (IDNs).
- FUROSCIX acceptance and utilization among heart failure specialists is accelerating.
Challenges Ahead
- Anticipate that the GTN discount will increase over time as contracting efforts continue to evolve and mature.
- 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.
- Risk that global economic factors and uncertainties will impact the Company’s operations.