The following is a summary of the ScPharmaceuticals Inc. (SCPH) Q3 2024 Earnings Call Transcript:

Financial Performance:

• scPharmaceuticals reported Q3 2024 net revenue of $10 million, marking a 24% increase from Q2 2024.

• Gross-to-net discount increased slightly to 15.7%, influenced by lagging CMS reporting on coverage gap rebate.

• The net loss increased to $35.1 million in Q3 2024 compared to $15.6 million in Q3 2023, primarily due to one-time charges related to new financial instruments and debt extinguishment.

• Ending the quarter with $91.5 million in cash and cash equivalents.

Business Progress:

• FUROSCIX continues to expand, with 3,100 unique healthcare providers prescribing it by the end of Q3 2024, up 13% from Q2.

• The company is pursuing broader indications for FUROSCIX, including in chronic kidney disease (CKD) and a potential launch in 2025 pending FDA approval.

• scPharmaceuticals introduced a low-volume Autoinjector for FUROSCIX, reducing costs and potentially enhancing treatment adoption.

• Secured transformative financing adding approximately $75 million, ensuring funding through to projected profitability.

Opportunities:

• FUROSCIX expansion includes targeting Class IV heart patients and potential use in CKD treatment.

• The Medicare Part D redesign in 2025 is expected to significantly lower patient out-of-pocket costs, potentially increasing prescription fill rates and broadening patient access.

Risks:

• Financial implications due to coverage gap rebate impacts and uncertainty about the acceptance rates of new FUROSCIX delivery systems.

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