Full Press Release Details
Krystal Biotech Reports Second Quarter 2020 Financial Results and Provides Update on Operational Progress
Initiated the pivotal GEM-3 clinical study evaluating
B-VEC in DEB patients
Today announced enrollment of 1st patient in Phase 2 clinical study evaluating KB105 in ARCI patients
initiate Phase 1 trial of KB301 for an aesthetic indication in 2H 2020
Strong balance sheet with June 30, 2020 cash, cash
equivalents and marketable securities of $297 million
PITTSBURGH, August 10, 2020 Krystal Biotech, Inc. (Nasdaq: KRYS), a fully integrated gene therapy company driven by its proprietary,
engineered herpes simplex virus type 1 vector (HSV-1) platform, today reported financial results and key operational progress updates for the second quarter ending June 30, 2020.
The future of Krystal shines brighter than ever. We enter the second half of the year with a Phase 3 trial in DEB, a Phase 2 trial in ARCI and expect to
initiate a Phase 1 trial in aesthetic skin conditions in the near term, leading to multiple data readouts in the next 6 to 12 months, said Krish Krishnan, chairman and chief executive officer of Krystal Biotech, Inc. He added, With the
completion of our recent stock offering, we have the financial strength to support our clinical programs, expand our pipeline to pulmonary indications and complete our second GMP facility to support growth in our pipeline demand. I look forward to
updating you as the year progresses.
Program Highlights & Upcoming Events
Beremagene Geperpavec (B-VEC) for DEB
KB105 for ARCI-Icthyosis
KB407 for Cystic Fibrosis
KB301 for Aesthetic Indications
KB104 for Netherton Syndrome
Financial results for the quarter ended June 30, 2020
About Krystal Biotech
Krystal Biotech, Inc. (NASDAQ:KRYS) is a gene therapy company dedicated to developing transformative medicines to treat diseases caused by protein or gene
dysfunction.. For more information, please visit http://www.krystalbio.com.
Forward-Looking Statements
Any statements in this press release about future expectations, plans and prospects for Krystal Biotech, Inc., including but not limited to statements about
the development of Krystal s product candidates, such as plans for the design, conduct and timelines of ongoing clinical trials of beremagene geperpavec ( B-VEC ), KB105, KB104, KB301 and KB407;
the clinical utility of B-VEC, KB105, KB104, KB301 and KB407, and Krystal s plans for filing of regulatory approvals and efforts to bring B-VEC, KB105, KB104, KB301
and KB407 to market; the market opportunity for and the potential market acceptance of B-VEC, KB105, KB104, KB301 and KB407; plans to pursue research and development of other product candidates; the
sufficiency of Krystal s existing cash resources; the unanticipated impact of COVID-19 on Krystal s business operations, pre-clinical activities and clinical
trials; and other statements containing the words anticipate, believe, estimate, expect, intend, may, plan, predict, project,
target, potential, likely, will, would, could, should, continue, and similar expressions, constitute forward-looking statements within the meaning of The
Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties inherent in the initiation and
conduct of clinical trials, availability and timing of data from clinical trials, whether results of early clinical trials or trials will be indicative of the results of ongoing or future trials, uncertainties associated with regulatory review of
clinical trials and applications for marketing approvals, the availability or commercial potential of product candidates including B-VEC, KB105, KB104, KB301 and KB407, the sufficiency of cash resources and
need for additional financing and such other important factors as are set forth under the caption Risk Factors in Krystal s annual and quarterly reports on file with the U.S. Securities and Exchange Commission. In addition, the
forward-looking statements included in this press release represent Krystal s views as of the date of this release. Krystal anticipates that subsequent events and developments will cause its views to change. However, while Krystal may elect to
update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Krystal s views as of any date subsequent to the
date of this release.
LifeSci Communications
Source: Krystal Biotech, Inc.