Krystal Biotech's Strong Q4 2024 Earnings: A Promising Outlook for Investors

Krystal Biotech, Inc. (NASDAQ: KRYS), a commercial-stage biotechnology company, reported robust financial results for the fourth quarter and full year ended December 31, 2024, demonstrating significant earnings growth and a strong balance sheet. The company's focus for 2025 is on executing the global launch of VYJUVEK and progressing its rare disease and oncology programs through key milestones.

Financial Highlights:

* Fourth quarter revenues increased 116% to $91.1 million versus the fourth quarter of 2023.
* Full year revenues increased 473% to $290.5 million versus 2023.
* Net income for the full year was $89.16 million, compared to $10.93 million in 2023.
* Basic earnings per share from continuing operations for the full year was $3.12, compared to $0.40 in 2023.
* Diluted earnings per share from continuing operations for the full year was $3.00, compared to $0.39 in 2023.
* Strong balance sheet, ending the quarter with $749.6 million in cash and investments.



VYJUVEK® (beremagene geperpavec-svdt, or B-VEC) for the Treatment of Dystrophic Epidermolysis Bullosa (DEB):

* The Company recorded $91.1 million and $290.5 million in VYJUVEK net product revenue for the fourth quarter and full year of 2024, respectively.
* Gross margin for the fourth quarter was 95%.
* As of February 2025, the Company has secured over 510 reimbursement approvals for VYJUVEK in the U.S., covering 97% of lives under commercial and Medicaid plans.
* High patient compliance with weekly treatment while on drug continued at 85% as of the end of 2024.

Ongoing Clinical Trials and Pipeline Expansion:

* KB407 for the treatment of cystic fibrosis (CF): The Cystic Fibrosis Foundation (CFF) Therapeutic Development Network (TDN) Clinical Research Executive Committee granted full sanctioning of the Company’s KB407 Phase 1 CORAL-1 study protocol in January 2025.
* KB408 for the treatment of alpha-1 antitrypsin deficiency (AATD) lung disease: In December 2024, the Company announced successful SERPINA1 gene delivery and functional alpha-1 antitrypsin expression reaching therapeutic levels as part of an interim clinical update for Cohorts 1 and 2 of its ongoing KB408 Phase 1 SERPENTINE-1 study.
* Inhaled KB707 for the treatment of solid tumors of the lung: In December 2024, the Company announced an initial clinical update for the monotherapy dose escalation and expansion cohorts of KYANITE-1, an ongoing, Phase 1/2 open label, multi-center, dose escalation and expansion study evaluating inhaled KB707, as monotherapy or in combination, in patients with locally advanced or metastatic solid tumors of the lung.

Krystal Biotech's strong financial performance in 2024, driven by the success of VYJUVEK, positions the company well for future growth and investment opportunities. The company's robust pipeline, including KB407, KB408, and KB707, presents potential market opportunities in respiratory diseases and oncology. As Krystal Biotech continues to execute the global launch of VYJUVEK and progress its rare disease and oncology programs, investors can expect a promising outlook for the company in the coming years.