1. The Earnings Surprise: What Happened?
SK Biopharmaceuticals reported a remarkable 72.4% earnings surprise in Q1 2025, with an operating profit of KRW 92.6 billion. This significantly exceeded market expectations and highlights the company’s strong financial performance.
2. Cenobamate Drives Growth and Profitability
Cenobamate (XCOPRI®) continued its strong growth trajectory in the US market, contributing significantly to the Q1 earnings surprise. The drug generated the vast majority of the company’s revenue, demonstrating its importance as a key growth driver.
3. Strong Financials and Future Growth Potential
The return to profitability and improved debt-to-equity ratio underscore SK Biopharmaceuticals’ solid financial position. Continued investment in R&D, including new modalities like RPT, TPD, and CGT, positions the company for long-term growth.
4. Investor Action Plan
This earnings surprise presents a compelling investment opportunity, both in the short and long term. However, investors should continue to monitor macroeconomic factors and competitive landscape changes. The success of Cenobamate’s global expansion and the progress of the company’s pipeline will be key factors to watch.