scPharmaceuticals Inc.
5.67+0.00 (+0%)
Oct 6, 4:00:00 PM EDT · NasdaqGS · SCPH · USD
Key Stats
Market Cap
304.36MP/E (TTM)
-Basic EPS (TTM)
-1.81Dividend Yield
0%Recent Filings
8-K
MannKind acquires scPharmaceuticals
MannKind Corporation completed its acquisition of scPharmaceuticals on October 7, 2025, via a tender offer that secured 73.47% of shares at $5.35 cash plus a CVR worth up to $1.00 on milestones. The merger converted remaining shares to the same offer price, delisted scPharmaceuticals from Nasdaq, and terminated its credit agreement and revenue participation deal after full repayment. Board and officers shifted to MannKind executives. Acquisition funded by cash and debt.
8-K
Supply agreement extended to 2027
scPharmaceuticals amended its 2020 supply agreement with West Pharmaceutical Services on August 20, 2025, extending the term for the SmartDose drug delivery system through December 31, 2027, after West's non-renewal notice set to end it on August 15, 2025. The deal locks in no automatic renewal but mandates good-faith talks six months before expiry. Upon termination, scPharma must cover West's incurred costs and accepted orders. This secures supply continuity yet ties the company to potential exit payments.
8-K
MannKind acquires scPharma
scPharmaceuticals entered a merger agreement on August 24, 2025, with MannKind Corporation, which will launch a tender offer for all shares at $5.35 cash plus a CVR worth up to $1.00 tied to FDA approval and $110M+ net sales milestones by late 2026. This deal diversifies MannKind's portfolio into cardiorenal therapies, leveraging FUROSCIX's 96% year-over-year sales growth to $27.8M in H1 2025. Total equity value hits $303M, with closure eyed for Q4 2025 pending approvals. Milestones may go unmet.
10-Q
Q2 FY2025 results
scPharmaceuticals doubled product revenue to $16.0M in Q2 FY2025 ended June 30, 2025, up 99% y/y from $8.1M, while YTD revenue climbed 97% y/y to $27.8M, fueled by rising FUROSCIX demand in heart failure and newly approved CKD patients. Gross margins held steady at 68.8%, yet operating losses narrowed slightly to $14.3M from $14.4M y/y as revenue gains offset higher R&D and SG&A spends on device development and commercialization. Diluted EPS improved to -$0.34 from -$0.44 y/y, reconciling to 53.7M weighted shares with no anti-dilution flagged. Cash burn eased to $33.3M YTD from $37.9M, leaving $40.8M in cash against $51.2M term debt (due 2029 at SOFR+6.75%) and $30.2M revenue liability; revolver availability not disclosed. Revenue hinges on a handful of specialty pharmacies. Yet pricing pressures from IRA negotiations loom large.
8-K
FUROSCIX revenue doubles
scPharmaceuticals reported $16 million in net FUROSCIX revenue for Q2 2025, surging 99% from Q2 2024, fueled by 117% growth in doses shipped to 20,200 and a late-April launch for chronic kidney disease patients. Sales to integrated networks jumped 70% from Q1, yet net loss widened to $18 million amid rising R&D and SG&A costs. Autoinjector sNDA stays on track for Q3 filing. Cash dipped to $40.8 million.
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