Abeona approval does not change Krystal opportunity, says H.C. Wainwright

H.C. Wainwright keeps a Buy rating on Krystal Biotech (KRYS) with a $240 price target after Abeona Therapeutics (ABEO) announced FDA approval of Zevaskyn, an autologous cell-based therapy for treatment of adult and pediatric patients with recessive dystrophic epidermolysis bullosa. The firm does not see an immediate impact of Zevaskyn on Krystal’s Vykuvek commercial opportunity. Vykuvek remains the “differentiated opportunity, particularly with regard to cost, surface area coverage for wound healing and quality of life/convenience,” the analyst tells investors in a research note. Wainwright believes Vykuvek maintains its differentiated profile as the RDEB treatment of choice to both patients and clinicians.