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Announced launch and commercial availability of FUROSCIX® on
Generated net FUROSCIX revenue of
Ended Q1 2023 with cash, cash equivalents and short-term investments of
Company to host investor conference call and webcast today,
- Announced the launch and commercial availability of FUROSCIX (furosemide injection), the first and only self-administered, subcutaneous loop diuretic for the at-home treatment of congestion in chronic heart failure, on
February 20, 2023.
- As of
March 31, 2023, scPharmaceuticals reports:
- Net FUROSCIX revenue of
- 381 total FUROSCIX prescriptions written
- 161 FUROSCIX prescriptions filled
- 180 written prescriptions payer cleared or pending
- 194 total and unique prescribers of FUROSCIX
- 518 FUROSCIX in-services completed
- Net FUROSCIX revenue of
- As of
- Secured positive coverage and a preferred formulary decision by a top five national commercial health plan effective
June 1, 2023.
- Obtained national Medicaid coverage of FUROSCIX effective
July 1, 2023.
- Continued to advance discussions with additional commercial and Part D payers to further expand coverage and favorable formulary placement of FUROSCIX.
- Presented multiple posters from the FREEDOM-HF and AT HOME pilot studies at the
Technology and Heart Failure Therapeutics Conference, March 20– 22, 2023.
- Ended the first quarter of 2023 with cash, cash equivalents and short-term investments of $116.1 million.
“Just two and a half months into the FUROSCIX launch, we are pleased with our progress to date, particularly the early success of our commercial team in-service visits to educate top tier treating physicians and their staff on the many benefits of FUROSCIX for their heart failure patients,” said
“At the same time, we continue to have productive discussions with both commercial and Medicare Part D payers in an effort to secure the broadest and most favorable coverage of FUROSCIX. Reflecting these efforts, we were recently notified by a top five national health plan that FUROSCIX would be placed in a preferred formulary status across all of its commercial plans effective
“We are well funded, with more than
First Quarter 2023 Financial Results and Financial Guidance
Net product revenues were
Research and development expenses were
Selling, general and administrative expenses were
scPharmaceuticals reported a net loss of
scPharmaceuticals ended the first quarter of 2023 with
Conference call and webcast information
scPharmaceuticals’ management will host a conference call and webcast to review the Company’s first quarter 2023 results today,
To access the Call me™ feature, which avoids having to wait for an operator, click here.
A link to the live webcast can be found here.
Following the live webcast, a replay of the event will be archived on scPharmaceuticals’ website for one year.
FUROSCIX® (furosemide injection) 80 mg/10mL for subcutaneous use
FUROSCIX® is indicated for the treatment of congestion due to fluid overload in adult patients with
FUROSCIX is not indicated for use in emergency situations or in patients with acute pulmonary edema. The On-Body Infusor will deliver only an 80-mg dose of FUROSCIX.
IMPORTANT SAFETY INFORMATION
FUROSCIX is contraindicated in patients with anuria, patients with a history of hypersensitivity to furosemide or medical adhesives and in patients with hepatic cirrhosis or ascites.
Furosemide may cause fluid, electrolyte, and metabolic abnormalities, particularly in patients receiving higher doses, patients with inadequate oral electrolyte intake, and in elderly patients. Serum electrolytes, CO2, BUN, creatinine, glucose, and uric acid should be monitored frequently during furosemide therapy.
Excessive diuresis may cause dehydration and blood volume reduction with circulatory collapse and possibly vascular thrombosis and embolism, particularly in elderly patients.
In patients with hepatic cirrhosis and ascites, sudden alterations of fluid and electrolyte balance may precipitate hepatic encephalopathy and coma. Treatment in such patients is best initiated in the hospital.
Furosemide can cause dehydration and azotemia. If increasing azotemia and oliguria occur during treatment of severe progressive renal disease, furosemide should be discontinued.
Cases of tinnitus and reversible or irreversible hearing impairment and deafness have been reported with furosemide. Reports usually indicate that furosemide ototoxicity is associated with rapid injection, severe renal impairment, the use of higher than recommended doses, hypoproteinemia or concomitant therapy with aminoglycoside antibiotics, ethacrynic acid, or other ototoxic drugs.
In patients with severe symptoms of urinary retention (because of bladder emptying disorders, prostatic hyperplasia, urethral narrowing), the administration of furosemide can cause acute urinary retention related to increased production and retention of urine. These patients require careful monitoring, especially during the initial stages of treatment.
The most common adverse reactions with FUROSCIX administration in clinical trials were site and skin reactions including erythema, bruising, edema, and injection site pain.
scPharmaceuticals is a pharmaceutical company focused on developing and commercializing products that are designed to reduce healthcare costs and improve health outcomes. The Company develops, internally and through strategic partnerships, innovative products and solutions that aim to expand and advance the outpatient care of select acute conditions. The Company’s lead programs focus on the subcutaneous, self-administration of IV-strength treatments in heart failure and infectious disease. scPharmaceuticals is headquartered in Burlington, MA. For more information, please visit www.scPharmaceuticals.com.
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, but not limited to, statements regarding the potential market impact and benefits of FUROSCIX and the success of the commercialization of FUROSCIX, the ability to secure formulary coverage and mandatory coverage nationally with Medicaid for FUROSCIX and timing thereof, and participation in upcoming events and presentations. Any forward-looking statements in this press release are based on management’s current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the risk of any unforeseen delays or setbacks in the commercialization of FUROSCIX, the risk of the ability of the FUROSCIX On-Body Infusor to appropriately deliver therapy, the receipt of regulatory approval for any of our product candidates or, if approved, the successful commercialization of such products, risks related to manufacturing and quality assurances processes, and the risk that global economic factors and uncertainties, including as a result of the COVID-19 pandemic, will impact the Company’s operations. For a discussion of these and other risks and uncertainties, and other important factors, any of which could cause our actual results to differ from those contained in the forward-looking statements, see the sections entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 on file with the Securities and Exchange Commission, available at the Securities and Exchange Commission’s website at www.sec.gov, as well as discussions of potential risks, uncertainties and other important factors in the Company’s subsequent filings with the Securities and Exchange Commission. All information in this press release is as of the date of the release, and the Company undertakes no duty to update this information unless required by law.
scPharmaceuticals Inc., 781-301-6706
|Unaudited Consolidated Statements of Operations|
|(in thousands, except share and per share data)|
|THREE MONTHS ENDED
|Product revenues, net||$||-||$||2,063|
|Cost of product revenues||-||605|
|Research and development||4,347||2,116|
|Selling, general and administrative||2,893||10,896|
|Total operating expenses||7,240||13,617|
|Loss from operations||(7,240||)||(11,554||)|
|Net loss per share, basic and diluted||$||(0.28||)||$||(0.30||)|
|Weighted—average common shares outstanding, basic and diluted||27,368,354||37,800,960|
|Unaudited Consolidated Balance Sheet Data|
|Cash, cash equivalents, restricted cash and investments||$||118,368||$||116,071|
|Total stockholders’ equity||72,433||75,807|