SK Biopharmaceuticals reports 15 billion won of net loss in Q3

SK Biopharmaceuticals was in the red in the third quarter, reporting 15 billion won ($11 million) of net loss.

That still beat the market consensus of 18.4 billion won of net loss compiled by FnGuide. The company reported a 44 billion won net loss in the same period a year earlier.

Quarterly revenues surged 271 percent to 88.8 billion won during the July-to-September period, beating the market expectations of 72.8 billion won. Operating losses narrowed to 9.2 billion won from 50 billion won a year earlier.

"Revenues grew as sales of Cenobamate have been growing in major global markets, including U.S., Europe and Latin America," SK Biopharmaceuticals said in a statement.

Cenobamate, an epilepsy treatment, is currently being sold in major markets globally including the United States and Europe. In the United States alone, Cenobamate generated 47.4 billion won in sales in the third quarter, up 138 percent on year. It is being sold under the name Xcopri.

Cenobamate is being sold in Germany, Sweden, Denmark and Britain as Ontozry, and the company aims to introduce it in France, Italy and Finland within the year. It is currently undergoing Phase 3 clinical trials in Korea, China and Japan.

BY SARAH CHEA [chea.sarah@joongang.co.kr]