Jun. 14 at 4:00 PM
$SCPH scPharmaceuticals (SCPH) Analysis: TAM, Peak Sales, Margins, and Valuation
Total Addressable Market (TAM)
scPharmaceuticals’ lead product is FUROSCIX®, a subcutaneous furosemide therapy for congestion due to fluid overload in adults with chronic heart failure (CHF) and chronic kidney disease (CKD).
The U.S. heart failure population is over 6 million, with roughly 1 million hospitalizations per year for acute decompensated heart failure. CKD affects over 37 million Americans, with significant overlap in the populations.
FUROSCIX targets patients needing IV diuresis outside the hospital, a segment estimated at 1–2 million annual episodes in the U.S. alone. Assuming a price point of
$1,000–
$2,000 per course and 10–20% market penetration, TAM is conservatively
$1–
$2 billion annually.
Peak Sales Potential
FUROSCIX generated
$11.8 million in Q1 2025 revenue, with sequential growth and a recent label expansion into CKD (approved March 2025).
