SK Biopharm's red nearly triples for full '20, but narrows in Q4

[Photo by SK Biopharmaceuticals Co.]

SK Biopharmaceuticals Co., the biotech unit under South Korea’s SK Group, disclosed on Monday an operating loss of 239.8 billion won ($214.12 million) on a consolidated basis for full 2020, widened from a loss of 79.3 billion won from a year ago.

For the whole of 2020, its sales plunged 79.3 percent on year to 25.7 billion won with its net loss standing at 247.7 billion won. The company cited increased SG&A costs after the launch of cenobamate in the U.S. in May last year for snowballed losses.

[Photo by SK Biopharmaceuticals Co.]

The drugmaker performed better for the fourth quarter ended December 31. Its consolidated sales nearly quadrupled to 15.7 billion won against a year ago while its operating loss narrowed to 53.8 billion won from 66 billion won a year ago. Sales rose 302 percent on quarter to 15.8 billion won and operating loss dipped 14.6 percent to 53.8 billion won.

The stock that became a sensation upon debut in July last year finished Monday 0.34 percent higher at 149,500 won.

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