Krystal Biotech Inc
NASDAQ:KRYS
Krystal Biotech Inc
Krystal Biotech Inc. ventures into the complex but promising world of gene therapy, a field that carries the potential to transform how genetic diseases are treated. Founded in 2016, this Pennsylvania-based company focuses on developing and commercializing redosable gene therapies for patients suffering from debilitating skin diseases. Their flagship program, centered on a product called B-VEC, targets dystrophic epidermolysis bullosa (DEB), a rare and severe genetic skin disorder that causes fragile skin prone to blistering. Krystal Biotech leverages a proprietary gene delivery platform, based on herpes simplex virus (HSV-1), to transport corrective copies of genes directly to the affected skin cells, aiming to accelerate healing and dramatically improve patients’ quality of life.
In terms of its business model, Krystal Biotech generates revenue primarily by bringing these transformative therapies to market, tapping into unmet medical needs that traditionally lacked effective solutions. By focusing on rare diseases, which often face less competitive pressure, Krystal positions itself in a niche but critical segment of the healthcare market. The company undertakes extensive clinical trials and regulatory processes to ensure its therapies demonstrate safety and efficacy before securing approvals. Additionally, Krystal actively engages with the healthcare ecosystem, including insurers and providers, to facilitate patient access and reimbursement. This strategic pathway not only enables the company to generate revenue but also aligns with its mission of transforming lives through innovative science.
Krystal Biotech Inc. ventures into the complex but promising world of gene therapy, a field that carries the potential to transform how genetic diseases are treated. Founded in 2016, this Pennsylvania-based company focuses on developing and commercializing redosable gene therapies for patients suffering from debilitating skin diseases. Their flagship program, centered on a product called B-VEC, targets dystrophic epidermolysis bullosa (DEB), a rare and severe genetic skin disorder that causes fragile skin prone to blistering. Krystal Biotech leverages a proprietary gene delivery platform, based on herpes simplex virus (HSV-1), to transport corrective copies of genes directly to the affected skin cells, aiming to accelerate healing and dramatically improve patients’ quality of life.
In terms of its business model, Krystal Biotech generates revenue primarily by bringing these transformative therapies to market, tapping into unmet medical needs that traditionally lacked effective solutions. By focusing on rare diseases, which often face less competitive pressure, Krystal positions itself in a niche but critical segment of the healthcare market. The company undertakes extensive clinical trials and regulatory processes to ensure its therapies demonstrate safety and efficacy before securing approvals. Additionally, Krystal actively engages with the healthcare ecosystem, including insurers and providers, to facilitate patient access and reimbursement. This strategic pathway not only enables the company to generate revenue but also aligns with its mission of transforming lives through innovative science.
Revenue Growth: Krystal Biotech reported net product revenue of $97.8 million for Q3 2025, marking sustained growth boosted by early European sales.
Margin Expansion: Gross margin increased to 96%, up from 93% last quarter, driven by US manufacturing process optimization.
International Launches: VYJUVEK is now launched in Germany, France, and Japan, with early signs of demand and solid pricing outcomes, especially in Japan.
Reimbursement & Prescriber Acceleration: Over 40 new US reimbursement approvals since the last update (now 615+) and more than 450 US prescribers, reflecting expanding community reach.
Pipeline Progress: Multiple clinical program updates, including anticipated CF readout before year-end and new studies in ophthalmology, oncology, and dermatology.
Guidance Update: Full-year non-GAAP R&D and SG&A guidance was reduced and narrowed to $145 million to $155 million.
Strong Balance Sheet: Ended Q3 with over $864 million in cash and investments, positioning the company to fund launches and pipeline development.
