Krystal Biotech, Inc.

Listed Company

KRYSCIK 0001711279NasdaqLarge AcceleratedBiological Products, (No Diagnostic Substances)FY ends Dec 31

Period

FY 2025

Revenue

$389.10M

Net Income

$204.83M

Total Assets

$1.33B

Equity

$1.22B

Shares Out

29.23M

Op. Cash Flow

$200.87M

Business

Krystal Biotech, Inc. is a commercial‑stage biotechnology company developing and manufacturing genetic medicines using an engineered HSV‑1 gene therapy platform. It offers redosable HSV‑1 gene therapies, including FDA‑approved topical VYJUVEK (B‑VEC), and pipeline candidates for skin, eye, lung, oncology and aesthetic indications. Key divisions include research and clinical development, commercial operations, two in‑house CGMP manufacturing sites and Jeune Aesthetics. Krystal distributes via specialty pharmacies, hospitals and specialty distributors and is preparing direct commercial launches in the U.S., Europe and Japan.

Summary from filing dated 2025-02-19

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Product revenue, net	389	291	51	0	0
Cost of goods sold	23	20	3	0	0
Research and development	58	54	46	42	28
Selling, general and administrative	147	114	98	78	—
Litigation settlement	0	38	13	—	—
Total operating expenses	228	225	160	145	68
Income (loss) from operations	161	66	−110	−145	−68
Gain from sale of priority review voucher	0	0	100	0	0
Interest and other income, net	28	30	23	5	—
Income before income taxes	189	95	13	−140	−70
Income tax benefit (expense)	15	−6	−2	0	0
Net income	205	89	11	−140	−70
Unrealized gain (loss) on available-for-sale securities, net of tax	642,000	−440,000	1	−565,000	−169,000
Foreign currency translation	684,000	−388,000	−66,000	—	—
Comprehensive income	206	88	12	−141	−70
Basic (in usd per share)	7.08	3.12	0.4	−5.49	−3.13
Diluted (in usd per share)	6.84	3	0.39	−5.49	−3.13
Basic (in shares)	29	29	27	25	22
Diluted (in shares)	30	30	28	25	22

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	496	345	358	162	341
Short-term investments	331	253	174	217	97
Accounts receivable, net	127	105	42	0	—
Inventory	40	27	7	0	—
Prepaid taxes	14	2	—	—	—
Prepaid expenses and other current assets	15	12	7	5	4
Total current assets	1,025	742	588	384	442
Property and equipment, net	151	155	161	162	112
Long-term investments	128	152	62	5	64
Right-of-use assets	7	6	7	8	7
Deferred tax asset, net of valuation allowance	23	0	—	—	—
Other non-current assets	287,000	231,000	263,000	324,000	74,000
Total assets	1,334	1,056	818	558	626
Accounts payable	3	5	4	4	8
Current portion of lease liability	2	1	1	2	1
Accrued rebates	58	37	6	—	—
Accrued expenses and other current liabilities	40	59	22	23	16
Total current liabilities	103	102	33	29	26
Lease liability	8	6	7	7	7
Other long-term liabilities	4	1	0	—	—
Total liabilities	114	109	40	36	33
Commitments and contingencies (see note 7)	—	—	—	—	—
Common stock; $0.00001 par value; 80,000 shares authorized as of December 31, 2025 and 2024; 29,192 and 28,794 shares issued and outstanding as of December 31, 2025 and 2024, respectively.	0	0	0	0	0
Additional paid-in capital	1,194	1,127	1,048	804	735
Accumulated other comprehensive income (loss)	1	−190,000	638,000	−728,000	−163,000
Retained earnings (accumulated deficit)	24	−181	−270	−281	−141
Total stockholders equity	1,220	946	779	522	594
Total liabilities and stockholders equity	1,334	1,056	818	558	626

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Deferred tax asset	−23	0	0	—	—
Depreciation	6	6	5	3	2
Accretion of marketable securities	−498,000	−2	−2	670,000	—
Amortization of operating lease right-of-use assets	827,000	747,000	904,000	742,000	—
Stock-based compensation expense, net	55	49	40	33	15
Realized gain on investments	−6	−6	−5	−570,000	0
Other, net	684,000	652,000	217,000	34,000	−454,000
Accounts receivable, net	−22	−63	−42	0	0
Inventory	−6	−12	−4	0	0
Prepaid taxes	−12	−2	0	—	—
Prepaid expenses and other assets	−2	−7	−2	−615,000	−691,000
Lease liability	−578,000	−833,000	−829,000	−647,000	−285,000
Other long-term liabilities	2	1	0	0	—
Accounts payable	826,000	1	−101,000	−1	712,000
Accrued rebates	21	31	6	0	0
Accrued expenses and other current liabilities	14	5	5	5	3
Accrued legal settlement	−31	31	0	0	—
Net cash provided by (used in) operating activities	201	123	−89	−101	−48
Proceeds from disposal of assets	435,000	0	0	—	—
Proceeds from sale of priority review voucher	0	0	100	0	0
Purchases of property and equipment	−12	−4	−12	−53	−68
Purchases of investments	−423	−458	−509	−319	−190
Maturities of investments	376	299	503	258	32
Net cash (used in) provided by investing activities	−58	−163	83	−114	−227
Proceeds from issuance of common stock, net	0	0	160	29	356
Proceeds from exercise of stock options	23	32	44	7	—
Net cash provided by financing activities	9	27	203	35	348
Effect of exchange rate changes on cash and cash equivalents	286,000	−458,000	−156,000	−41,000	0
Net change in cash and cash equivalents	151	−13	196	−179	73
Unpaid purchases of property and equipment	3	8	9	15	15
Initial recognition of right-of-use assets	2	0	0	2	4
Income taxes paid	16	6	0	—	—

Filings

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