Krystal Biotech, Inc. ( (KRYS) ) has released its Q4 earnings. Here is a breakdown of the information Krystal Biotech, Inc. presented to its investors.
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Krystal Biotech, Inc., headquartered in Pittsburgh, Pennsylvania, is a commercial-stage biotechnology company specializing in genetic medicines aimed at treating diseases with high unmet medical needs, particularly in the fields of dermatology, respiratory, oncology, ophthalmology, and aesthetics.
Krystal Biotech recently announced its financial results for the fourth quarter and full year of 2024, showcasing remarkable growth in revenue and net income. The company reported a 116% increase in fourth-quarter revenues and a 473% increase in full-year revenues compared to the previous year, driven primarily by the success of its product VYJUVEK.
Key financial highlights include fourth-quarter revenues of $91.1 million and full-year revenues of $290.5 million, with a strong gross margin of 95% in the fourth quarter. The company ended the year with $749.6 million in cash and investments. Additionally, Krystal Biotech has seen significant progress in its clinical stage programs, notably securing over 510 reimbursement approvals for VYJUVEK and maintaining high patient compliance rates.
The company is also advancing its pipeline with ongoing and upcoming studies in various therapeutic areas, including cystic fibrosis, alpha-1 antitrypsin deficiency, and solid tumors. The development of new treatments through its subsidiaries, such as Jeune Aesthetics, further underscores its commitment to innovation and expansion in genetic medicine.
Looking ahead, Krystal Biotech remains focused on the global launch of VYJUVEK and progressing its programs through key regulatory and clinical milestones. The company’s robust financial position and strategic initiatives position it well for continued growth and advancement in 2025 and beyond.
