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scPharmaceuticals Inc (SCPH)
NASDAQ:SCPH
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scPharmaceuticals
(NASDAQ:SCPH)
Rating:49Neutral
Price Target:
$4.00
▼(-4.76%Downside)
Positive Factors
Product Launch Success
The launch of Furoscix for Chronic Kidney Disease has been positively received, showing faster progress than its initial heart failure launch.
Revenue Growth
ScPharmaceuticals reported quarterly revenue of $11.8M, marking a 92.6% year-over-year increase, surpassing consensus estimates.
Negative Factors
Market Conditions
There is continued upside potential versus the stock's current low levels with an optimistic outlook on the future impacts of expected tailwinds.
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. SPDR S&P 500 ETF (SPY)
Market Cap
$221.73M
Dividend YieldN/A
Average Volume (3M)377.76K
Price to Earnings (P/E)―
Beta (1Y)1.37
Revenue Growth138.10%
EPS Growth-28.59%
CountryUS
Employees162
SectorHealthcare
Sector Strength42
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.37
Shares Outstanding52,791,977
10 Day Avg. Volume318,814
30 Day Avg. Volume377,763
Financial Highlights & Ratios
PEG Ratio3.75
Price to Book (P/B)-33.71
Price to Sales (P/S)0.00
P/FCF Ratio-2.43
Enterprise Value/Market Cap0.74
Enterprise Value/Revenue1.24
Enterprise Value/Gross Profit5.70
Enterprise Value/Ebitda-0.58
Forecast
1Y Price Target
$15.60Price Target Upside271.43% 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 Earnings Call Summary
Earnings Call Date:May 14, 2025
(Q1-2025)
| % Change Since: 87.50%|
Next Earnings Date:Aug 06, 2025
Earnings Call Sentiment Positive
The earnings call highlighted strong revenue growth, successful market expansion into CKD, and improved prescription fill rates for FUROSCIX. However, the company faced challenges with seasonal impacts on revenue, a reduced cash position, and increased gross to net discounts. Overall, positive trends outweigh the negative aspects.Q1-2025 Updates
Positive Updates
Significant Revenue Growth
scPharmaceuticals generated $11.8 million in net revenue in Q1 2025, up from $6.1 million in Q1 2024, marking a significant increase in demand for FUROSCIX.
Successful CKD Launch
FUROSCIX was launched in the chronic kidney disease (CKD) market in April 2025, and initial traction with nephrologists is strong, with rapid adoption and prescriptions being written the same day of calls.
Positive Market Expansion
The company is expanding into nephrology with FUROSCIX and is seeing a substantial increase in prescriptions from nephrologists for both CKD and heart failure patients.
Improved Fill Rates
The fill rate for FUROSCIX prescriptions improved to 55% in April 2025, up from 46% in Q1, driven by more Medicare patients reaching their out-of-pocket maximum.
Increased Sales Force Effectiveness
Sales force expansion has led to greater reach and frequency to target prescribers, resulting in increased demand for FUROSCIX.
Negative Updates
Seasonal Revenue Impact
Q1 2025 net revenue was impacted by seasonal factors, including deductible and Medicare beneficiaries out-of-pocket cap resets, which affected prescription fill rates.
Reduced Cash Position
The company's cash and cash equivalents decreased from $75.7 million at the end of 2024 to $57.5 million at the end of Q1 2025, due to net cash outflows including incentive compensation payouts.
Gross to Net Discount Increase
The gross to net (GTN) discount for FUROSCIX increased to 23% in Q1 2025 and is expected to rise to approximately 30% over the balance of the year due to Medicare Part D redesign.
Company Guidance
During the scPharmaceuticals First Quarter 2025 Earnings Conference Call, the company provided guidance on several key metrics and strategic initiatives. scPharmaceuticals reported $11.8 million in net revenue for Q1 2025, with approximately 13,800 FUROSCIX doses filled. The company highlighted an increase in doses filled quarter-over-quarter despite typical seasonality factors affecting Q1 revenue. They anticipate a blended gross-to-net discount of approximately 30% over the rest of 2025, driven by Medicare Part D redesign and the Inflation Reduction Act's mandatory manufacturer rebates. scPharmaceuticals has also expanded FUROSCIX's market into chronic kidney disease, seeing accelerated adoption. Additionally, they expect the Autoinjector to significantly reduce COGS by 70% to 75% and enhance FUROSCIX's growth trajectory. The company ended Q1 2025 with $57.5 million in cash, planning for decreased quarterly net cash outflows for the rest of the year as revenues increase. Overall, scPharmaceuticals expressed confidence in FUROSCIX's long-term growth potential, supported by the favorable copay environment for Medicare Part D enrollees and ongoing market expansion efforts.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 | |||||
| TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 41.98M | 36.33M | 13.59M | 0.00 | 0.00 | 0.00 | Gross Profit |
| 28.93M | 24.97M | 9.78M | -468.00K | -438.00K | -399.00K | EBIT |
| -66.68M | -64.78M | -55.40M | -36.16M | -25.82M | -29.93M | EBITDA |
| -83.21M | -77.43M | -46.06M | -33.07M | -25.02M | -29.22M | Net Income Common Stockholders |
| -90.78M | -85.15M | -54.81M | -37.52M | -30.49M | -34.39M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 57.54M | 75.66M | 76.01M | 118.37M | 75.46M | 105.28M | Total Assets |
| 90.96M | 107.52M | 94.48M | 124.19M | 79.04M | 109.05M | Total Debt |
| 52.36M | 52.69M | 40.27M | 37.37M | 17.64M | 20.21M | Net Debt |
| -5.19M | -22.96M | -6.54M | -33.69M | -56.63M | -85.07M | Total Liabilities |
| 96.09M | 94.20M | 57.26M | 51.76M | 22.57M | 26.88M | Stockholders Equity |
| -5.13M | 13.32M | 37.22M | -226.54M | -189.70M | -161.66M |
| Cash Flow | Free Cash Flow | ||||
| -70.00M | -70.56M | -59.28M | -34.60M | -27.16M | -27.69M | Operating Cash Flow |
| -69.98M | -70.54M | -59.24M | -34.58M | -27.15M | -27.69M | Investing Cash Flow |
| -20.00K | 29.30M | 19.96M | -45.86M | 32.13M | -33.46M | Financing Cash Flow |
| 69.09M | 70.08M | 14.85M | 77.23M | -2.53M | 60.35M |
scPharmaceuticals Technical Analysis
Positive
4.20
Price Trends
2.82
Positive
3.03
Positive
3.60
Positive
Market Momentum
0.38
Negative
74.92
Negative
88.53
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SCPH, the sentiment is Positive. The current price of 4.2 is above the 20-day moving average (MA) of 3.35, above the 50-day MA of 2.82, and above the 200-day MA of 3.60, indicating a bullish trend. The MACD of 0.38 indicates Negative momentum. The RSI at 74.92 is Negative, neither overbought nor oversold. The STOCH value of 88.53 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 (54)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $297.75M | ― | -91.44% | ― | -2.04% | 83.49% | |
54 Neutral | $5.31B | 3.28 | -45.10% | 2.80% | 16.76% | 0.02% | |
52 Neutral | $569.10M | ― | -53.82% | ― | ― | 44.85% | |
49 Neutral | $171.59M | ― | -50.77% | ― | ― | -54.29% | |
49 Neutral | $221.73M | ― | -934.02% | ― | 138.10% | -28.59% | |
45 Neutral | $123.94M | ― | -189.46% | ― | -3.24% | 31.00% | |
35 Underperform | $222.66M | ― | -108.92% | ― | ― | 32.58% |
* Healthcare Sector Average
Performance Comparison
SCPH
scPharmaceuticals
4.20
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TNXP
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40.65
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LRMR
Larimar Therapeutics
2.68
-6.94
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KOD
Kodiak Sciences
4.22
1.44
51.80%
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.