SK Biopharmaceuticals returned to an operating loss in 2022, a mere year after turning profitable in 2021.

According to the company's public filing on Thursday, the company recorded an operating loss of 131.1 billion won ($103.6 million) on a consolidated basis in 2022, turning to a loss after reported 95 billion won in operating profit in 2021.

The company also reported sales of 246.2 billion won, down 41.2 percent over the same period, and a net loss of 139.4 billion won.

SK Biopharmaceuticals explained that the drop in sales and profit was due to the base effect from the profits earned through a licensing deal for cenobamate, its epilepsy treatment, in 2021.

"The company posted a high operating profit in 2021 thanks to milestone payments related to cenobamate," the company said. "However, as such milestones were a one-time payment, the company reported a large operating loss in 2022."

The company stressed that it aims to turn profitable again in the fourth quarter of this year by establishing a sustainable structure with cenobamate's U.S. sales and royalties from European sales.

The company said cenobamate was showing steady growth in the U.S.

"Sales of cenobamate in the U.S. in 2022 increased by 116.3 percent compared to 2021 to 169.2 billion won, the company said. "Also, the total number of prescriptions in the U.S. continues to rise."

As a result, the company has set an annual sales target for cenobamate in the U.S. between 270 billion won to 300 billion won.

"The market is also expected to expand further. cenobamate is scheduled to be released in eight European countries this year, in addition to the existing 15 countries," a company official said. "Centered on accelerating growth of cenobamate in the U.S., the company will succeed in achieving a turnaround within this year."