scPharmaceuticals (SCPH) Maxim Group’s 2024 Healthcare Virtual Summit summary

Product overview and market positioning

• FUROSCIX delivers 80mg of furosemide subcutaneously via a wearable patch pump, mimicking IV delivery for heart failure patients at home.

• The product addresses the need for effective outpatient care when oral diuretics fail due to gut edema.

• Launched 18 months ago, FUROSCIX has seen strong revenue growth and positive physician and patient acceptance.

Commercial strategy and sales force expansion

• Sales force expanded from 40 to 90 reps, increasing geographic coverage and frequency of physician engagement.

• Class IV label expansion enabled access to more heart failure clinics and sicker patient populations.

• Higher script sizes are being written for Class IV patients, with some scripts covering up to 12 units per month.

Reimbursement and access dynamics

• All patients are covered, but Medicare co-insurance can result in high co-pays for about 30% of patients.

• Co-pays have decreased 30% from Q2 to Q3, with a further 20% reduction expected in Q4.

• Medicare redesign in the coming year will cap patient out-of-pocket costs at $166 per month, improving access.

• Assistance programs will be maintained, with commercial and Medicaid support continuing.