bullish
SK Biopharmaceuticals (326030 KS): Sequential Profit Decline in 3Q; Long-Term Growth Prospect Intact
401 Views25 Nov 2024 17:20
SUMMARY
- SK Biopharmaceuticals (326030 KS) announced 3Q24 result, with record high U.S. revenue and four consecutive quarters of profit. Slower U.S. growth and sequential decline in operating profit remained key negatives.
- Xcopri continued its rapid growth in the U.S. SKBP expects to achieve the higher end of 2024 U.S. sales guidance of $300–320M, indicating 4Q24 revenue of $91M, 9% QoQ.
- Through operating leverage, the company is on track to achieve first annual profit. We think the reaction to 3Q24 result is overdone, with limited downside expected.
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Tina Banerjee
Global Healthcare Analyst
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- SK Biopharmaceuticals (326030 KS): Resumption of US Sales Growth Raises Hope for Annual Profit18 May 2024
- SK Biopharmaceuticals (326030 KS): Xcopri Sales Hit All-Time High in 3Q23; Operating Loss Narrowed13 Nov 2023
- SK Biopharmaceuticals (326030 KS): Solid Growth in Xcopri US Sales in 2Q23; Operating Loss Narrowed19 Sep 2023
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