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SK Biopharmaceuticals 2026 Q3 Financial Results 2026.11.5
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Disclaimer • The financial information in this document is consolidated earnings results based on K-IFRS. • This document is intended for investor convenience only and is provided prior to the completion of the external audit of financial results. Final audit outcomes may result in adjustments to contents. • This document contains "forward-looking statements" related to the business performance, market conditions, future events, and plans. The company is not responsible for updating these statement, whether due to new information, changes in market conditions, or other factors. • This document serves as supplementary material for investment consideration, it does not constitute promises or guarantees. Under no circumstances should this document be considered as a basis for legal responsibility regarding investment outcomes. SK Biopharmaceuticals will not be responsible for individual investment decisions made solely based on this material. • Redistribution or reproduction of any part of the document, in any form, is prohibited without the company's prior consent.
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Q3 2026 Financial Results Highlights ‣ XCOPRI® Q3 sales reached $156.8M; full-year sales expected to reach the upper end of guidance($580M) ‣ Q3 operating profit exceeded KRW 110B despite FX headwinds; cumulative operating profit of KRW 303B; further strengthening the self- reinforcing growth cycle of reinvesting profits into R&D Quarterly Results (KRW bn) XCOPRI® QoQ -0.3% YoY +29.9% • Q3 XCOPRI® sales of KRW 223.6B ($156.8M) • Sales grew 4.9% QoQ in USD, despite a slight decline in KRW terms due to FX impact • Expect to reach the upper end of FY guidance ($550-580M) Others • Q3 total of KRW 34.8B: DP/API revenue KRW 5.9B and service revenue KRW 28.9B • Completed recognition of remaining deferred revenue from clinical activities in Asia, along with one-off milestone revenue • FY guidance maintained at KRW 110B Operating Profit QoQ +19.8% YoY +65.9% • Q3 operating profit reached a record high of KRW 116.3B1) • SG&A expenses declined slightly QoQ, partly due to FX impact • FY guidance maintained at KRW 570B, considering additional Opakalim deal-related expenses 172.2 ($124.0M) 170.8 ($117.9M) 197.7 ($135.0M) 224.4 ($149.5M) 223.6 ($156.8M) 19.5 23.6 30.1 23.0 34.8 70.1 46.3 89.8 97.1 116.3 `25 Q3 `25 Q4 `26 Q1 `26 Q2 `26 Q3 247.4 191.7 194.4 227.9 258.4 ■ XCOPRI® ■ Others ■ Operating Profit 1) Excluding quarters with operating profit driven by one -off service revenue, such as 21Q4
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Q3 2026 Financial Results [Consolidated] [in KRW bn] 2025 2026 QoQ YoY Q1 Q2 Q3 Q4 Annual Q1 Q2 Q3 Revenue 144.4 176.3 191.7 194.4 706.7 227.9 247.4 258.4 +4.5% +34.8% XCOPRI® US¹ 133.3 ($91.7M) 154.1 ($109.5M) 172.2 ($124.0M) 170.8 ($117.9M) 630.3 ($443.2M) 197.7 ($135.0M) 224.4 ($149.5M) 223.6 ($156.8M) -0.3% (+4.9%) +29.9% (+26.4%) DP/API 7.2 4.1 1.5 11.1 23.9 13.1 13.3 5.9 -55.9% +280.1% Service Revenue 3.9 18.1 18.0 12.5 52.5 17.1 9.7 28.9 +199.8% +60.8% Gross Profit 133.9 166.4 184.2 179.4 663.8 213.6 232.4 249.4 +7.4% +35.4% SG&A Expenses 108.2 104.5 114.1 133.1 459.9 123.8 135.3 133.1 -1.6% +16.7% Operating Profit 25.7 61.9 70.1 46.3 203.9 89.8 97.1 116.3 +19.8% +65.9% Profit Before Tax 20.3 34.7 62.1 33.8 150.9 100.0 93.4 95.4 +2.2% +53.5% Net Income 19.6 29.5 71.4 132.7 253.3 102.7 85.1 54.3 -36.1% -23.9% 1) XCOPRI® annual sales: FY20 $10.2M, FY21 $68.4M(+$58.1M), FY22 $130.9M(+$62.6M), FY23 $207.4M(+$76.5M), FY24 $321.6M(+$114. 2M), FY25 $443.2M(+$121.6M)
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XCOPRI® US Prescriptions and Sales 1) XCOPRI®: company data(`25 Jan 34,473, Feb 32,760, Mar 36,643, Apr 38,040, May 39,419, Jun 39,466, Jul 41,616, Aug 40,674, Sep 41,777, Oct 44,487, Nov 40,954, Dec 47,103; `26 Jan 43,541, Feb 41,780, Mar 46,934, Apr 46,818, May 47,392, Jun 49,155, Jul 51,089, Aug 49,836, Sep 51,007); Others: Bloomberg and IQVIA data 3rd Generation ASM TRx Trend XCOPRI® Monthly TRx XCOPRI® Quarterly Sales A C B XCOPRI 1.2 3.2 7.7 11.6 18.8 19.9 27.9 31.7 40.3 47.4 49.8 53.9 63.4 75.7 77.7 90.9 105.2 113.3 129.3 133.3 154.1 172.2 170.8 197.7 224.4 223.6 Q1 Q2Q3Q4Q1 Q2Q3Q4Q1 Q2Q3Q4Q1 Q2Q3Q4Q1 Q2Q3Q4Q1 Q2Q3Q4Q1 Q2Q3 43,541 51,007 34,473 47,103 26,097 35,476 17,765 26,007 10,518 17,567 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2026 2025 2024 2023 2022 `20 `21 `22 `23 `24 `25 `26 ‣ Monthly TRx surpassed 50K in Q3, sustaining prescription growth despite seasonal fluctuations; monthly NBRxremained at approximately 1,800 ‣ Despite a slight QoQ decline in KRW sales due to FX impact, USD sales continued to grow, up 4.9% QoQ (1 TRx count) (1 TRx count) (KRW bn)
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Pipeline Compound Indication (Target/MoA) Discovery Pre-clinical Phase 1 Phase 2 Phase 3 NDA Marketed Cenobamate Epilepsy - Focal Seizures Epilepsy - Focal Seizures, Asia¹ Epilepsy - Generalized Seizures² Epilepsy - Focal Seizures, Pediatric Solriamfetol (L/O to Axsome, Ignis) EDS³ in Narcolepsy, EDS in OSA⁴ Carisbamate Lennox-Gastaut Syndrome SKL32276 Parkinson's Disease (GCase Activator) SKL355017 (FL-091) Oncology (targeting NTSR1) SKL37321 (WT-7695) Oncology (targeting CA9) ROR1 Project Oncology (targeting ROR1) SKT-18416 Oncology (targeting p300) Neuroimmune Project CNS (targeting VAV1) 1) Launched in China(Mar. 2026), NDA approved in Japan(Sep. 2026), Launched in Korea(Nov. 2026) 2) Primary Generalized Tonic-Clonic (PGTC) seizures 3) Excessive Daytime Sleepiness 4) Obstructive Sleep Apnea 5) Radiopharmaceutical Therapy 6) Targeted Protein Degradation 7) Developing the ranostics with SKL35501(Therapeutic) and SKL35502 (Diagnostic) in parallel RPT 5TPD ⁶ Small molecule ‣ Cenobamateoral suspension NDA filed (Mar. 2026); pediatric/PGTC sNDAsfiled (Oct./Nov. 2026); Opakalim in-licensing deal signed (Aug. 2026) ‣ Advancing early-stage pipeline development: IND submissions planned for SKT-18416 (TPD) in H1 2027 and SKL37321 (RPT) in H2 2027 ‣ Expanding open innovation: AI-driven target discovery with Insilico(Jun. 2026), in-licensing of Parkinson’s Disease asset from 1stBio (Sep. 2026)
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Expanding Open Innovation and Leveraging AIDD • Ongoing AI-driven collaboration with Insilicoto discover three novel targets in neuroimmune diseases • In-licensed a Parkinson's disease DMT candidate from 1stBio • SKL32276(GCaseactivator) in preclinical stage Expanding the Clinical Pipeline and Leveraging AIDD • Phase 1 theranostics development ongoing for SKL35501(therapeutic) and SKL35502(diagnostic) • SKL37321(CA9 target): IND submission planned for H2 2027 • ROR1 Project: Lead optimization underway using internal RPT and AI-driven drug discovery platforms 1) World Parkinson Congress, US (May) 2) American Association for Cancer Research, US (Apr.) 3) Society of Nuclea r Medicine and Molecular Imaging, US (May) 4) European Association of Nuclear Medicine, Austria (Oct.) 5) World TPD & Induced Proximity Summit, KR(Jun.) & US(Oct. ) Preparing for Clinical Development • SKT-18416(p300 target): IND submission planned for H1 2027 Small Molecule Radiopharmaceutical Therapy (RPT) Targeted Protein Degradation (TPD) Three Modalities: Progress Highlights Early-Stage Pipeline Overview Roadmap to Big Biotech ‣ Strengthening the self-reinforcing growth cycle by reinvesting Cenobamate-generated profits into R&D to drive future growth ‣ Advancing early-stage pipelines toward clinical development, targeting 2-3 IND submissions in 2027 across TPD, RPT, CNS Small Molecule SKL32276 SKL35501 (FL-091) SKL37321 (WT-7695) ROR1 Chelator Platform SKT-18416 Modality Small Molecule RPT RPT RPT RPT TPD Positioning Best-in-class First-in-class Best-in-class First-in- modality Best-in-class First-in-class Target GCase Activator NTSR1 CA9 ROR1 Multi- target p300 Indication Parkinson’s Disease Oncology Oncology Oncology Oncology Oncology Next Milestone IND submission (`27, TBU) Phase 1 ongoing U.S./Korea IND submission (H2 `27) Preclinical research (`27) Basic research (`27) IND submission (H1 `27) Conference Schedule WPC¹ AACR² SNMMI³ EANM⁴ EANM⁴ EANM⁴ - AACR² TPD Summit5