scPharmaceuticals Inc. Reports First Quarter 2025 Financial Results and Provides Business Update

Core Insights - scPharmaceuticals Inc. reported a net revenue of $11.8 million for FUROSCIX in Q1 2025, marking a 93% increase from $6.1 million in Q1 2024 [5] - The company launched FUROSCIX for the treatment of Chronic Kidney Disease (CKD) in April 2025, expanding its market reach [1][2] - The company is on track to submit a supplemental New Drug Application (sNDA) for an autoinjector designed to reduce treatment time significantly by Q3 2025 [1][5] Financial Performance - Product revenues for Q1 2025 were $11.8 million, up from $6.1 million in Q1 2024, reflecting a 93% annual growth [5] - Costs of product revenues increased to $3.5 million in Q1 2025 from $1.8 million in Q1 2024, attributed to higher demand and manufacturing costs [4] - The company reported a net loss of $19.7 million for Q1 2025, compared to a net loss of $14.1 million in Q1 2024 [8] Market and Sales Update - Approximately 13,900 FUROSCIX doses were filled in Q1 2025, representing a 73% increase from about 8,000 doses in Q1 2024 [5] - Sales to Integrated Delivery Networks increased by 119% in Q1 2025 compared to Q4 2024 [5] - The company has seen an increase in Medicare-covered patients, which historically correlates with a rise in FUROSCIX prescription volumes [2] Research and Development - Research and development expenses rose to $4.6 million in Q1 2025 from $2.7 million in Q1 2024, primarily due to increased pharmaceutical development and employee-related costs [6] - Selling, general, and administrative expenses increased to $21.4 million in Q1 2025 from $17.4 million in Q1 2024, driven by higher employee-related costs and commercial expenses [7] Cash Position - As of March 31, 2025, the company had cash and cash equivalents of $57.5 million, down from $75.7 million at the end of 2024 [22]