Full Press Release Details
Krystal Biotech Reports Third Quarter 2020 Financial Results and Provides Update on
Operational Progress
GEM-3 study of B-VEC in DEB expected to complete enrollment in early 2021
- Initiated the Phase 1 Study of KB301 in Facial Wrinkles and Acne Scars
- Today announced additional in vivo preclinical data supporting the development of KB407
- Strong balance sheet with cash, cash equivalents and
short-term investments of $286.4 million as of September 30, 2020
PITTSBURGH, November 9, 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 third quarter ended September 30, 2020.
Despite the challenges presented by COVID in this
quarter, we initiated a pivotal trial for DEB, a phase 2 trial in ARCI and a phase 1 trial in aesthetic skin conditions, and I thank my entire team for their efforts in these difficult times, said Krish Krishnan, Chairman and CEO of Krystal
Biotech, Inc. I am particularly encouraged by progress with KB407 for the treatment of cystic fibrosis. The in vivo animal data reported today demonstrates our ability to deliver functional CFTR throughout the lung, which is encouraging
in this indication and gives us confidence to explore additional diseases of the lung where delivery of a therapeutic transgene may be beneficial. he added.
He further noted With the granting of Rare Pediatric Designation for this program by the FDA this quarter, we are now eligible to receive a Priority Review
Voucher for KB407 as well as for B-VEC, KB105, KB104.
Program Highlights & Upcoming Events
Beremagene Geperpavec (B-VEC) for DEB
KB407 for Cystic Fibrosis
KB301 for Aesthetic Indications
KB104 for Netherton Syndrome
Financial results for the quarter ended September 30, 2020
About Krystal Biotech
Krystal Biotech, Inc. (NASDAQ:KRYS) is a gene therapy company dedicated to developing and commercializing novel treatments for patients suffering from
dermatological diseases. 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.
Source: Krystal Biotech, Inc.