SK Bioscience Reports Operating Loss of 35.3 Billion KRW in Q2... Turns to Deficit
Consecutive Losses for Two Quarters
SK Bioscience announced on the 28th that its consolidated operating loss for the second quarter of this year was 35.3 billion KRW, marking a turnaround to a loss compared to an operating profit of 61.2 billion KRW in the same period last year.
During the same period, sales decreased by 80.9% to 26.478 billion KRW, and the net loss was 16 billion KRW.
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SK Bioscience explained that its performance deteriorated due to a decrease in sales of Novavax's COVID-19 vaccine, which it manufactures under contract, while research and development (R&D) expenses increased. According to SK Bioscience's investor relations (IR) materials, R&D expenses in the second quarter of this year rose by 15.1 billion KRW to 26.2 billion KRW, compared to 11.1 billion KRW in the same period last year.
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