ScPharmaceuticals Inc. (SCPH)

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Third Quarter 2023 Financial Results and Financial Guidance

Product revenues were $3.8 million, and cost of product revenues were $1.1 million for the third quarter of 2023.

Research and development expenses were $3.4 million for the third quarter of 2023, compared to $3.7 million for the third quarter of 2022. The decrease in research and development expenses for the quarter ended September 30, 2023 was primarily due to a decrease in employee related costs and clinical study and medical affairs costs. The decrease was partially offset by an increase in device and pharmaceutical development costs.

Selling, general and administrative expenses were $14.1 million for the third quarter of 2023, compared to $6.3 million for the third quarter of 2022. The increase in selling, general and administrative expenses for the quarter ended September 30, 2023 was primarily due to an increase in employee related costs and commercial costs.

scPharmaceuticals reported a net loss of $15.6 million for the third quarter of 2023, compared to $10.2 million for the third quarter of 2022.

scPharmaceuticals ended the third quarter of 2023 with $90.2 million in cash, cash equivalents and short-term investments, compared to $118.4 million as of December 31, 2022.

As of September 30, 2023, scPharmaceuticals’ total shares outstanding was 35,859,045.

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