SVB Leerink launched coverage of scPharmaceuticals (NASDAQ:SCPH) with a “market perform” rating sum-of-the-parts PT of $6. The stock closed at $5.95 on Sept. 8.
Analyst Roanna Ruiz, Ph.D., writes that, among other things, her investment thesis reflects the company’s Furoscix candidate, which has had two prior complete response letters, citing human factors study, manufacturing and device testing.
“This is a key regulatory overhang that puts us on the sidelines ahead of the company’s second NDA resubmission in the fourth quarter of 2021.
scPharmaceuticals aims to enable subcutaneous administration of therapies that have previously been limited to intravenous delivery with the intention to reduce overall healthcare costs and advance the quality and convenience of patient care. The company’s lead programs focus on the subcutaneous, self-administration of IV-strength treatments in heart failure and infectious disease.
