scPharmaceuticals Inc. (NASDAQ:SCPH) Q3 2022 Earnings Call Transcript

Glen Santangelo: Right. All right. So just back to sort of the inventory question. I mean, if you’re going to start generating revenues once the specialty pharmacy take title, will you start shipping in 1Q, so we should see the revenues start right in 1Q? And then consistent with that, should we — you have the agreements already in place with the sales people. Should we start to see the expenses matching that in the first quarter?

John Tucker: Yes. Yes. We would book the revenue in the first quarter and see the sales force costs hit us in the first quarter as well.

Glen Santangelo: And any — I know you don’t want to give 2023 guidance at this point, but any sort of high level thoughts in terms of how we should think about the cadence of the launch as we roll through 2023?

John Tucker: Yes. So we haven’t given guidance. We are planning to give updates. We’ll give updates as they come along on big managed care plans. And then we’ll have a series of key performance indicators that we’ll announce quarterly. Steve, do you want to kind of hit some of those high-level KPIs?

Steve Parsons: Sure. Of course, gross sales and net sales. We’ll talk about the number of total doses, the average number of doses per prescription. The payer formulary coverage, the percentage of lives that have access. We’ll talk about out-of-pocket costs to our patients. The number of unique prescribers as well as the number of new prescribers. The number of unique patients and the number of repeat patients. So we’ll update that each time we talk with you guys.

Operator: Our next question is from Douglas Tsao of H.C. Wainwright.

Douglas Tsao: Just maybe, John, as a starting point, in terms of the field force, once they get out into the field, how long do you think it will take for them to make initial contact with the target audience?

John Tucker: Doug, it’s John. I guess I’m going to have Steve answer that one, too. Steve?

Steve Parsons: Yes. There’s some pent-up demand already. People are reaching out to us, asking when they can begin to prescribe, when they can get access to it. So we’ll make contact with the prescribers, with the HCPs in the first week on the job. And there’s a lot of interest here. This is not a me-too. It’s very disruptive. There’s a big unmet need, and we’ve had a lot of time to increase awareness of the product. So, right away.

John Tucker: Yes. And Doug, we did — we’ve been doing a coming-soon campaign to drive awareness of the name and the brand. And again, the FUROSCIX name really tells people what it does, right? Furo, furosemide, SC for subcutaneous. So we’ve been doing that digitally. We were big at the HFSA meeting. And so we think that we’ve driven in. And our MSLs that have been out in the field made over 500 contacts with KOLs over the last couple of months. So we think we’re doing a lot to drive awareness now.

Douglas Tsao: And I get it, but I guess how long before your target number of docs or providers do you think you’ll have that initial sort of face-to-face interaction? Do you think you can accomplish that all in the first quarter, several weeks? I’m just curious about how you’re sort of mapping out that.

Steve Parsons: Yes. We intend to reach our entire target list with a face-to-face conversation in the first 3 months of promotion. A lot of them, 2 and 3 times.

John Tucker: Yes, we super target for the real high prescribers, and we’ll see them at launch as often as weekly, Doug.

Douglas Tsao: Okay. Great. That’s helpful. And just maybe some color on some of the initial interactions with payers now that you are an approved price, you have a WACC in the market, and just how those are going and what you — how we should think about the reimbursed access landscape.