SK Biopharmaceuticals reported a preliminary consolidated operating loss of 22.7 billion won ($17.1 million) in the first quarter of this year, narrowing its operating loss by 38.8 percent compared to the same period last year. The reduction in operating loss was thanks to cutting selling, general, and administrative (SG&A) expenses and U.S. sales growth.

The company also recorded sales of 60.8 billion won in the first quarter, up 47.73 percent from the same period last year, and a net loss of 2.4 billion won, down 94.6 percent.

Notably, the company said it was able to narrow the operating loss thanks to increased U.S. sales of its epilepsy drug cenobamate.

In the first quarter, U.S. sales of cenobamate totaled 53.9 billion won, up about 70 percent compared to the previous year. The total number of prescriptions for the same period was about 55,000, up about 10 percent from the previous quarter.

The company said it will focus on sales and marketing in the U.S. to turn back by the fourth quarter of this year.

The company is also conducting multinational and domestic phase 3 clinical trials to expand cenobamate’s indication to generalized seizure and age range from adults to adolescents.

Meanwhile, SK Biopharmaceuticals said Thursday that it will invest approximately 26.5 billion won in LifeSci Venture Partners III (LP), a US-based financial services company.

The company said the move was aimed at investing in promising biotech companies.