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scPharmaceuticals Inc (SCPH)
NASDAQ:SCPH
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scPharmaceuticals
(NASDAQ:SCPH)
47Neutral
Positive Factors
FDA Approval
FDA approval of the sNDA for Furoscix meaningfully expands its labeled indication to include edema in patients with chronic kidney disease (CKD), representing a significant positive milestone.
Market Opportunity
The expansion to CKD is a significant market opportunity and expands Furoscix’s prescriber base to nephrologists.
Prescriber Growth
The prescriber base continues to increase and now there are 3,800 unique prescribers, an increase of 23% from the previous quarter.
Negative Factors
Cost Reduction Uncertainty
The autoinjector submission remains on track and may reduce costs associated with Furoscix by approximately 70%, but this is not yet confirmed.
Sales Forecast
The long-term peak sales forecast for Furoscix in heart failure and chronic kidney disease has been lowered to reflect a more measured uptake trajectory.
scPharmaceuticals (SCPH) vs. S&P 500 (SPY)
Market Cap
$129.23M
Dividend YieldN/A
Average Volume (3M)562.28K
Price to Earnings (P/E)―
Beta (1Y)1.05
Revenue Growth167.28%
EPS Growth-34.13%
CountryUS
Employees162
SectorHealthcare
Sector Strength66
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.91
Shares Outstanding50,283,924
10 Day Avg. Volume521,320
30 Day Avg. Volume562,279
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)4.98
Price to Cash Flow (P/CF)-2.20
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$16.50Price Target Upside544.53% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
scPharmaceuticals Business Overview & Revenue Model
Company DescriptionscPharmaceuticals Inc. (SCPH) is a biopharmaceutical company focused on the development and commercialization of transformative pharmaceutical products. The company's primary aim is to address unmet needs in the management of heart failure and infectious diseases. Its core product is FUROSCIX, a proprietary subcutaneous formulation of furosemide, which is designed to be a convenient self-administered treatment for heart failure patients who require diuretic therapy.
How the Company Makes MoneyscPharmaceuticals generates revenue primarily through the commercialization of its lead product, FUROSCIX. The company makes money by selling this product directly to healthcare providers, pharmacies, and through partnerships with specialty pharmacies that distribute to patients. Revenue streams are bolstered by pricing agreements and contracts with healthcare systems and insurance companies, which reimburse the use of their products. The company's earnings are also supported by ongoing research and development efforts to expand their product pipeline and enhance existing offerings.
scPharmaceuticals Financial Statement Overview
Summary
scPharmaceuticals shows promising revenue growth, yet faces significant challenges in profitability, leverage, and cash flow. The company's high debt levels and negative equity position indicate financial instability, while negative cash flows suggest ongoing operational difficulties. Continued focus on improving operational efficiency and financial health is essential for future stability and growth.Income Statement
The company demonstrated a significant increase in revenue from 2023 to 2024, showing positive growth potential. However, profitability remains a concern, with consistent net losses and negative EBIT and EBITDA margins, indicating challenges in achieving operational efficiency and profitability.45
Neutral
Balance Sheet
The balance sheet reflects a high debt-to-equity ratio, indicating significant leverage and potential financial risk. Negative stockholders' equity is a concern, suggesting liabilities exceed assets, which may pose financial stability risks. The equity ratio is negative, highlighting the company's reliance on debt financing.30
Negative
Cash Flow
Operating cash flow remains negative, reflecting ongoing operational challenges. Free cash flow is also negative, indicating cash outflows exceed cash inflows, which may impact the company's ability to fund operations and growth without external financing.35
Negative
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 36.33M | 13.59M | 0.00 | 0.00 | 0.00 |
| Gross Profit | ||||
| 24.97M | 9.78M | -468.00K | -438.00K | -399.00K |
| EBIT | ||||
| -64.78M | -55.40M | -36.16M | -25.82M | -29.93M |
| EBITDA | ||||
| -77.56M | -46.06M | -33.07M | -25.02M | -29.22M |
| Net Income Common Stockholders | ||||
| -85.15M | -54.81M | -37.52M | -30.49M | -34.39M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 75.66M | 76.01M | 118.37M | 75.46M | 105.28M |
| Total Assets | ||||
| 107.52M | 94.48M | 124.19M | 79.04M | 109.05M |
| Total Debt | ||||
| 52.69M | 40.27M | 37.37M | 17.64M | 20.21M |
| Net Debt | ||||
| -22.96M | -6.54M | -33.69M | -56.63M | -85.07M |
| Total Liabilities | ||||
| 94.20M | 57.26M | 51.76M | 22.57M | 26.88M |
| Stockholders Equity | ||||
| 13.32M | 37.22M | -226.54M | -189.70M | -161.66M |
| Cash Flow | Free Cash Flow | |||
| -70.56M | -59.28M | -34.60M | -27.16M | -27.69M |
| Operating Cash Flow | ||||
| -70.54M | -59.24M | -34.58M | -27.15M | -27.69M |
| Investing Cash Flow | ||||
| 29.30M | 19.96M | -45.86M | 32.13M | -33.46M |
| Financing Cash Flow | ||||
| 70.08M | 14.85M | 77.23M | -2.53M | 60.35M |
scPharmaceuticals Technical Analysis
Negative
2.56
Price Trends
2.95
Negative
3.18
Negative
3.87
Negative
Market Momentum
-0.13
Negative
47.00
Neutral
80.52
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SCPH, the sentiment is Negative. The current price of 2.56 is above the 20-day moving average (MA) of 2.55, below the 50-day MA of 2.95, and below the 200-day MA of 3.87, indicating a neutral trend. The MACD of -0.13 indicates Negative momentum. The RSI at 47.00 is Neutral, neither overbought nor oversold. The STOCH value of 80.52 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SCPH.
scPharmaceuticals Risk Analysis
scPharmaceuticals disclosed 70 risk factors in its most recent earnings report. scPharmaceuticals reported the most risks in the “Tech & Innovation” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
scPharmaceuticals Peers Comparison
Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
53 Neutral | $136.46M | ― | -95.00% | ― | ― | 44.85% | |
51 Neutral | $5.19B | 3.13 | -40.94% | 2.95% | 17.94% | 2.00% | |
48 Neutral | $118.44M | ― | -124.10% | ― | 9.22% | 60.01% | |
47 Neutral | $108.05M | ― | -106.12% | ― | 29.94% | -241.81% | |
47 Neutral | $129.23M | ― | -336.97% | ― | 167.28% | -34.13% | |
34 Underperform | $171.43M | ― | -84.70% | ― | ― | 32.58% | |
30 Underperform | $122.29M | ― | -63.58% | ― | ― | -55.32% |
* Healthcare Sector Average
Performance Comparison
SCPH
scPharmaceuticals
2.56
-2.01
-43.98%
NKTR
Nektar Therapeutics
0.62
-0.74
-54.41%
RGLS
Regulus
2.01
-0.19
-8.64%
TNXP
Tonix Pharma
14.96
-482.32
-96.99%
LRMR
Larimar Therapeutics
2.01
-4.39
-68.59%
KOD
Kodiak Sciences
3.25
-0.17
-4.97%
scPharmaceuticals Earnings Call Summary
Earnings Call Date: Mar 19, 2025 | % Change Since: -15.79% | Next Earnings Date: May 20, 2025
Earnings Call Sentiment Positive
The earnings call reflected a positive sentiment overall, with strong revenue growth and strategic advancements like the FDA approval for CKD. However, increased operating expenses and a higher net loss pose challenges. The company is optimistic about future growth driven by Medicare redesign and product expansion.Highlights
Significant Revenue Growth
scPharmaceuticals reported $36.3 million in FUROSCIX net revenue for 2024, marking a 167% increase year-over-year.
FDA Approval for Expanded Use
The FDA approved FUROSCIX for the treatment of edema in patients with chronic kidney disease, expanding its market potential.
Increased Provider Adoption
Over 3,800 unique providers have prescribed FUROSCIX, with doses filled increasing by 23% in Q4 compared to Q3.
Positive Patient Co-pay Developments
The Medicare redesign is expected to lower patient out-of-pocket costs significantly, potentially increasing fill rates and demand.
Autoinjector Progress
Encouraging data from shelf-life testing of the Autoinjector, with a mid-year submission of the sNDA planned.
Lowlights
Increased Operating Expenses
Selling, general, and administrative expenses rose to $77.6 million for 2024, a significant increase from $53.4 million in 2023.
Higher Net Loss
The company's net loss for 2024 was $85.1 million, up from $54.8 million in 2023.
Continued Gross to Net Discount Challenges
The gross to net discount for FUROSCIX was approximately 19% in Q4, expected to increase to 30-35% in 2025 due to Medicare redesign.
Company Guidance
During the scPharmaceuticals Fourth Quarter and Full Year 2024 Earnings Conference Call, the company reported a net revenue of $12.2 million for Q4 2024, leading to a total of $36.3 million in net FUROSCIX revenue for the year, marking a 167% increase year-over-year. The company highlighted a gross-to-net (GTN) discount of approximately 19% for Q4 2024 and projected a long-term GTN discount range of 30% to 35% for 2025 due to the Medicare redesign. scPharmaceuticals announced the FDA's approval of a supplemental new drug application for FUROSCIX to treat edema in chronic kidney disease (CKD) patients, with a full launch expected in April 2025. The company also noted a significant increase in the number of doses prescribed, citing 13,300 doses filled in Q4 2024, up from 10,800 in Q3 2024. Additionally, the company ended 2024 with $75.7 million in cash and reported a Q4 net loss of $18.8 million. Looking ahead, scPharmaceuticals anticipates the Medicare redesign to positively impact FUROSCIX's market penetration and organic growth.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.