scPharmaceuticals Announces Preliminary Unaudited Q4 and Full-Year 2023 Net 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

BURLINGTON, Mass., Jan. 04, 2024 (GLOBE NEWSWIRE) -- scPharmaceuticals Inc. (Nasdaq: SCPH) (the “Company”), a pharmaceutical company focused on developing and commercializing products that have the potential to optimize the delivery of infused therapies, advance patient care, and reduce healthcare costs, today announced preliminary unaudited fourth quarter 2023 net FUROSCIX revenue in a range of $5.9 million to $6.1 million, representing sequential growth of 55% to 61% over $3.8 million net FUROSCIX revenue reported for the third quarter of 2023.

For the full year 2023, the Company anticipates net revenue to be in a range of $13.4 million to $13.6 million. The gross-to-net discount decreased to approximately 18% from launch through the end of Q4 versus 21% from launch through the end of Q3. The Company anticipates the gross-to-net discount to increase as FUROSCIX is added to more payer formularies. Inventory levels at the end of Q4 2023 were consistent with levels at the end of Q3 2023.

“We are very pleased with the continued traction that FUROSCIX is gaining among heart failure prescribers as reflected in the preliminary fourth quarter and full year net FUROSIX revenue that we are announcing today,” stated John Tucker, Chief Executive Officer of scPharmaceuticals. “We believe this positive trend speaks to the significant value that FUROSCIX delivers to payers, physicians and patients.”

scPharmaceuticals also announced today that unaudited cash, cash equivalents and short-term investments were approximately $76 million as of December 31, 2023.

These preliminary select financial results are unaudited and subject to change. scPharmaceuticals will report its final and complete fourth quarter and full-year 2023 financial results in March. The Company has not completed its financial closing procedures for the quarter or year ended December 31, 2023 and its actual results could be materially different from these preliminary financial results.