scPharmaceuticals rises after beating Q2 revenue estimates

Scpharmaceuticals

15/08/2024 15:20

** Shares of drugmaker scPharmaceuticals  SCPH.O  rise 6.3%
to $5.09 in morning trade 
    ** Late on Wednesday, co reported Q2 rev of $8.1 mln,
beating Wall Street estimates of $8 mln - LSEG
    ** However co's Q2 loss of 44 cents/shr was bigger than
estimates of 41 cents/shr 
    ** We are encouraged by solid launch progress of co's drug
Furoscix driving healthy patient demand - brokerage TD Cowen
    ** TD Cowen also says "management remains confident in their
ability to meet Furoscix 2024 consensus sales of $40MM, which we
believe would be solid launch progress" 
    ** YTD, stock down 21.1%

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))