scPharmaceuticals falls on stock deal
21/11/2022 21:25
** scPharmaceuticals Inc's SCPH.O shares down ~12% in
extended trading as co seeks equity raise
** Co announces proposed stock offering; deal size not
disclosed
** SVB Securities and Cowen jt bookrunners
** Co expects to use the net offering proceeds to help
support commercialization efforts for Furoscix, and develop its
drug pipeline, per prospectus filing
** In Oct, U.S. FDA approved Furoscix, its therapy to treat
congestion in chronic heart failure, after the regulator
rejected it twice
** SCPH on Mon closed down 3% at $6.09. Shares have gained
~11.5% over the past month and are up 21% YTD
** Co has 27.4 mln shares outstanding for ~$167 mln market
cap
(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))