scPharmaceuticals (SCPH) Jefferies 2024 Global Healthcare Conference summary

Product overview and value proposition

• Developed a subcutaneous furosemide (FUROSCIX) to treat heart failure patients at home, reducing hospitalizations and costs.

• Achieved 100% bioavailability comparable to IV, delivered via an on-body infuser about the size of an iPhone.

• Therapy costs $4,500 versus $17,000 for hospitalization, offering significant health economic benefits.

• Patients and physicians report rapid symptom relief and improved quality of life.

Intellectual property and product pipeline

• Current product IP extends to 2034; device partner's IP to 2035, with practical exclusivity due to device complexity.

• Next-generation 80mg auto-injector in pivotal study, with IP protection to 2040; PK results expected in August and regulatory filing planned for later this year.

• Strong IP and device barriers expected to limit generic competition until at least 2035, with further protection from the auto-injector.

Market access and payer coverage

• Achieved 100% payer coverage, with most copays under $100; Medicaid and commercial copays range from $0 to $60.

• Medicare redesign in 2025 will cap monthly copays at $166, expected to further improve access and fill rates.

• Downstream providers like Kaiser have adopted the product due to its value proposition.