SK Biopharm saw its stock price soar after reporting second-quarter (April to June) results that exceeded market expectations this year.
SK Biopharm shares were trading at 112,800 won on the KOSPI market at 9:51 a.m. on the 5th. The stock price rose by 17.38% (16,700 won) compared to the previous day, reaching as high as 117,000 won during the day.
The results stimulated investor sentiment. SK Biopharm announced that it recorded a consolidated revenue of 176.3 billion won and an operating profit of 61.9 billion won for the second quarter this year. The operating profit was about twice the market forecast.
SK Biopharm's epilepsy treatment "cenobamate" drove the results by surpassing $100 million in sales in the U.S. for the first time in the second quarter. SK Biopharm is promoting market expansion through the broadening of cenobamate's indications and age range.