[Click eStock] "SK Biopharm to Meet Market Expectations for Q3 Earnings"

Meritz Securities analyzed on the 15th that SK Biopharm's third-quarter performance this year likely met market expectations.

On a consolidated basis, it is estimated that the company achieved sales of 134.3 billion KRW and an operating profit of 20.2 billion KRW in the third quarter. Sales increased by 48.6% compared to the same period last year, and operating profit turned positive.

Researcher Kim Jun-young of Meritz Securities explained, "Xcopri is maintaining a strong growth trend and is maximizing leverage effects based on a low cost ratio."

He added, "There is also a downside in that there is a high dependence on Xcopri, which accounts for 79.1% of total sales in the second half of this year," and emphasized, "It is necessary to diversify the product portfolio to reduce this dependence." He stressed, "It is necessary to introduce products that can create synergy with the Xcopri sales network."

Researcher Kim said, "Considering the sales growth rate of Xcopri, we are raising the target stock price to 130,000 KRW," and analyzed, "the Phase 3 clinical trial results for partial seizures (PGTC) and patients aged 2 to 17 will be confirmed by next year at the latest." He explained, "The radiopharmaceutical (RPT) pipeline disclosed in August this year and the targeted protein degradation (TPD) pipeline scheduled to be disclosed within this year are still in the preclinical stage," adding, "It is difficult to reflect clinical momentum or new drug value in the short term."

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