Krystal Biotech, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 06, 2023 at 07:09 am EST
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Krystal Biotech, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net income was USD 80.75 million compared to net loss of USD 29.85 million a year ago. Basic earnings per share from continuing operations was USD 2.88 compared to basic loss per share from continuing operations of USD 1.17 a year ago. Diluted earnings per share from continuing operations was USD 2.79 compared to diluted loss per share from continuing operations of USD 1.17 a year ago.
For the nine months, net income was USD 2.24 million compared to net loss of USD 107.92 million a year ago. Basic earnings per share from continuing operations was USD 0.08 compared to basic loss per share from continuing operations of USD 4.24 a year ago. Diluted earnings per share from continuing operations was USD 0.08 compared to diluted loss per share from continuing operations of USD 4.24 a year ago.
Krystal Biotech, Inc. is an integrated, commercial-stage biotechnology company. It is focused on the discovery, development, and commercialization of genetic medicines to treat diseases with high unmet medical needs. Its product candidates in various stages of clinical and preclinical development include VYJUVEK, KB407, KB408, KB707, KB105, KB104, KB104, and KB301. Its commercial product VYJUVEK is a non-invasive, topical, redo sable gene therapy designed to deliver two copies of theCOL7A1 gene when applied directly to DEB wounds. VYJUVEK is designed to treat DEB at the molecular level by providing the patientâs skin cells the template to make normal COL7 protein, thereby addressing the fundamental disease-causing mechanism. KB407 is developed for the treatment of Cystic Fibrosis. KB408 is developed for the treatment of Alpha-1 Antitrypsin Deficiency. KB707 is developed for the treatment of solid tumors. KB105 is developed for TGM1-Deficient Autosomal Recessive Congenital Ichthyosis.