scPharmaceuticals falls on pricing $50 mln stock offering

Scpharmaceuticals

22/11/2022 13:18

** scPharmaceuticals Inc's  SCPH.O  shares down 11.3% at
$5.40 premarket after overnight follow-on prices
    ** Co sells ~9.5 mln shares, including pre-funded warrants,
at $5.25, 13.8% discount to last sale  urn:newsml:reuters.com:*:nGNXLf461
    ** SCPH plans to use net offering proceeds to support
commercialization efforts for Furoscix, develop its drug
pipeline, per prospectus filing
    ** Co has 27.4 mln shares outstanding for $167 mln market
cap
    ** In Oct, U.S. FDA approved Furoscix, therapy to treat
congestion in chronic heart failure, after regulator rejected it
twice
    ** SCPH's shares gained 14% in Nov through Mon close, and
are up 21% YTD
    ** SVB Securities and Cowen jt bookrunners for stock
offering
 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))