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scPharmaceuticals Inc. (SCPH-6.80%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The company reported product revenues of $36.3 million for the year, an increase from $13.6 million in the previous year, attributed to increased demand for FUROSCIX.
Cost of product revenues rose to $11.4 million from $3.8 million, reflecting higher manufacturing costs due to increased sales.
Research and development expenses were $12.1 million, a slight increase from $11.8 million, driven by increased clinical study and device development costs.
Selling, general, and administrative expenses increased to $77.6 million from $53.4 million, primarily due to higher employee-related costs and commercial preparation expenses.
The company reported a net loss of $85.1 million, compared to $54.8 million in the previous year. The increase in net loss was due to higher operating expenses and a loss on extinguishment of debt.
The company completed a public offering of common stock, raising net proceeds of $53.5 million.
scPharmaceuticals entered into a Credit Agreement and a Revenue Purchase and Sale Agreement, receiving $50 million from the term loan and $50 million from the revenue purchase agreement.
The company anticipates launching an expanded indication of FUROSCIX for chronic kidney disease in April 2025, following FDA approval in March 2025.
The company expects to continue incurring significant expenses as it supports the commercialization of FUROSCIX in the United States and continues research and development efforts.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the scPharmaceuticals Inc. annual 10-K report dated March 19, 2025. To report an error, please email earnings@qz.com.