07:19 AM EDT, 08/12/2024 (MT Newswires) -- ScPharmaceuticals ( SCPH ) said Monday that it has secured up to $125 million in non-dilutive financing from Perceptive Advisors.

The deal includes a $75 million senior secured term loan, providing $50 million at closing to refinance existing debt, with a five-year term and no principal repayments until maturity.

Additionally, the company has agreed to a $50 million capped revenue interest financing, under which Perceptive will receive tiered royalties on global sales of Furoscix, its therapy for treating fluid overload in heart failure patients.

Proceeds from the deal will be used to repay existing debt and fund activities related to the ongoing commercialization of Furoscix.

ScPharmaceuticals' ( SCPH ) shares were down by more than 5% in recent premarket trading.

Price: 4.0100, Change: -0.32, Percent Change: -7.39