Krystal Biotech, Inc. ( (KRYS) ) has released its Q3 earnings. Here is a breakdown of the information Krystal Biotech, Inc. presented to its investors.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Krystal Biotech, Inc. is a commercial-stage biotechnology company focused on developing genetic medicines for conditions with unmet medical needs, particularly in areas like dermatology, respiratory, and oncology. Based in Pittsburgh, Pennsylvania, the company has made strides with VYJUVEK, its first FDA-approved redosable gene therapy for dystrophic epidermolysis bullosa (DEB).
In its third-quarter 2024 earnings report, Krystal Biotech recorded a net product revenue of $83.8 million, marking significant growth since the launch of VYJUVEK in August 2023. The company also highlighted progress in global expansion plans, with regulatory filings in Japan and Europe, and early access approval in France.
Key financial metrics revealed a robust cash position of $694.2 million, though net income decreased to $27.2 million from $80.7 million year-on-year, primarily due to a previous gain from a priority review voucher sale. The company continues to advance its pipeline, with significant developments in aesthetic treatments and clinical trials for respiratory diseases and oncology.
Looking forward, Krystal Biotech is poised to expand its market reach with anticipated product launches in Europe and Japan by 2025. The company’s management remains optimistic about its strategic initiatives and pipeline developments, underscoring a commitment to addressing complex genetic conditions globally.
