scPharmaceuticals Inc (SCPH) Options

What a freaking dud. $SCPH

March 13, 2024 - 10K
2023 Product revenues, net $13,593,000
Net loss 2022 $36,838,000 /// 2023 $54,810,000
Net loss per share, basic and diluted 2022 $1.30 /// 2023 $1.42
https://www.sec.gov/ix?doc=/Archives/edgar/data/1604950/000095017024030780/scph-20231231.htm

FUROSCIX® Revenue

Company anticipates Q4 2023 net FUROSCIX revenue to be approximately $5.9 to $6.1 million; full-year net FUROSCIX revenue of approximately $13.4 to $13.6 million

Gross-to-net (GTN) discount of approximately 18% from launch through the end of Q4

Inventory levels at the end of Q4 2023 consistent with the end of Q3 2023

Unaudited cash, cash equivalents and short-term investments of approximately $76 million as of December 31, 2023

Ba-Donka-Donk

Third Quarter 2023 Financial Results and Financial Guidance

Product revenues were $3.8 million, and cost of product revenues were $1.1 million for the third quarter of 2023.

Research and development expenses were $3.4 million for the third quarter of 2023, compared to $3.7 million for the third quarter of 2022. The decrease in research and development expenses for the quarter ended September 30, 2023 was primarily due to a decrease in employee related costs and clinical study and medical affairs costs. The decrease was partially offset by an increase in device and pharmaceutical development costs.

Selling, general and administrative expenses were $14.1 million for the third quarter of 2023, compared to $6.3 million for the third quarter of 2022. The increase in selling, general and administrative expenses for the quarter ended September 30, 2023 was primarily due to an increase in employee related costs and commercial costs.

scPharmaceuticals reported a net loss of $15.6 million for the third quarter of 2023, compared to $10.2 million for the third quarter of 2022.

scPharmaceuticals ended the third quarter of 2023 with $90.2 million in cash, cash equivalents and short-term investments, compared to $118.4 million as of December 31, 2022.

As of September 30, 2023, scPharmaceuticals’ total shares outstanding was 35,859,045.

Full PR Here

$SCPH is literally asleep at the wheel. Did anyone attend the conference call?

Medicaid coverage of FUROSCIX effective July 1, 2023.

$SCPH Institutional Ownership 87.19%
https://www.nasdaq.com/market-activity/stocks/scph/institutional-holdings

In addition, we were also recently informed that we’ll obtain national Medicaid coverage of FUROSCIX effective July 1, 2023. https://seekingalpha.com/article/4602856-scpharmaceuticals-inc-scph-q1-2023-earnings-call-transcript

10-Q + Webcast Wed 4:30pm ET. This will include sales from go-to-market FEB 20 thru MAR 31.
https://scpharmaceuticalsinc.gcs-web.com/news-releases/news-release-details/scpharmaceuticals-announce-first-quarter-2023-financial-results

scPharmaceuticals Inc. discloses that it has two deposit accounts at Silicon Valley Bank, each with a balance of equal to or less than $250,000 as of March 10, 2023.
https://www.sec.gov/ix?doc=/Archives/edgar/data/1604950/000119312523067253/d483112d8k.htm

$SCPH PR:
https://www.globenewswire.com/news-release/2023/02/21/2612086/0/en/scPharmaceuticals-Announces-Launch-and-Commercial-Availability-of-FUROSCIX-furosemide-injection.html

Monday 20th is Go-To-Market.

SCPH provides business updates.
https://www.globenewswire.com/news-release/2023/01/30/2597485/0/en/scPharmaceuticals-Provides-FUROSCIX-furosemide-injection-Commercial-Update.html

Will $SCPH ever sell a single dose of this FDA approved drug? This is the Twilight Zone.

The go-to-market for the Furoscix infusor/drug combo is a large undertaking. It involves building out production for both the infusor and drug. Quality control is the name of the game.

Furoscix administered via the Furoscix Infusor.

In addition to the Ph-Neutral formulation of Furoscix, FDA has approved the use of an automatic infusor for administration of the prescribed dosage.

Furoscix enables subcutaneous administration at home by the patient or a caregiver with the use of the On-Body Infusor, which was developed using West Pharmaceutical Services SmartDose technology. Once the pre-filled cartridge is inserted into the pre-programmed infusor and attached to the abdomen, the device is activated to deliver the 80-mg dose over five hours.

https://clinicaltrials.gov/ct2/show/NCT03458325
https://www.empr.com/home/news/fda-approves-wearable-furosemide-delivery-system-furoscix-for-outpatient-use/

$SCPH Prescription Drug product FUROSCIX has been added to United Healthcare's Pharmacy Benefit Programs Drug List.
https://www.uhcprovider.com/content/dam/provider/docs/public/resources/pharmacy/Drugs-with-Clinical-Programs-Commercial.pdf

$SCPH Prescription Drug product FUROSCIX has been added to Humana's List of covered drugs.
https://docushare-web.apps.external.pioneer.humana.com/Marketing/docushare-app?file=4473924

PDUFA! Approval!
https://scpharmaceuticalsinc.gcs-web.com/news-releases/news-release-details/scpharmaceuticals-announces-fda-approval-furoscixr-furosemide

PDUFA! Approval!
https://scpharmaceuticalsinc.gcs-web.com/news-releases/news-release-details/scpharmaceuticals-announces-fda-approval-furoscixr-furosemide

PDUFA After Market today?

What’s up here today