Shares of scPharmaceuticals (NASDAQ: SCPH) slid in morning trading on Monday, even as the U.S. Food and Drug Administration (FDA) approved Furoscix (furosemide injection), which can be used for the treatment of congestion due to fluid overload in adults with Class 2 or Class 3 chronic heart failure as specified by the New York Heart Association.
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However, Furoscix is not indicated for emergency situations or in patients with acute pulmonary edema, that is, patients with too much fluid in the lungs.
John Tucker, President, and CEO of scPharmaceuticals commented, “We are preparing to optimize commercialization efforts to offer FUROSCIX to patients in the first quarter of next year with the goal of driving rapid patient adoption to meet the needs of the $5.9 billion addressable market in the U.S.”
scPharma’s Debt Financing Agreement with Oaktree
In addition, SCPH also announced a $100 million debt financing agreement with Oaktree Capital Management to facilitate the commercial launch of Furoscix in the U.S.
The definitive agreement is expected to be signed by the middle of this month.
Is SCPH Stock a Buy, According to Analysts?
Wall Street analysts are cautiously optimistic about SCPH stock, with a Moderate Buy consensus rating based on two Buys and one Hold.
The average price forecast for SCPH stock is $10.33, implying upside potential of 130.1% at current levels.
