scPharmaceuticals: A Recent IPO With A Novel Drug Delivery Platform
Summary
The company launched an IPO on NASDAQ raising $89.6M (1.4M shares at $14/share) recently.
Its platform is focused on providing subcutaneous delivery of commonly used intravenous drugs, allowing convenient at home administration and early hospital discharge.
We are initiating coverage on the common stock with a Buy rating and first price target=$26.
scPharmaceuticals (Pending:SCPH), a recent IPO on NASDAQ, is based in Burlington, MA. The company launched an IPO on NASDAQ raising $89.6M (1.4M shares at $14/share). Its platform is focused on providing subcutaneous delivery of commonly used intravenous drugs, allowing convenient at home administration and reducing the cost of hospitalization. Early investors in the company include OrbiMed Advisors, Sun Pharmaceuticals, and WellPoint.
