Krystal Biotech : First Quarter 2026 Earnings Call

Published: 2026-05-04 12:25:10 ET KRYS

Published on 05/04/2026 at 12:25 pm EDT

First Quarter 2026

Financial and Operating Results

May 4, 2026

$116.4

$107.1

$97.8

$96.0

$91.1

$88.2

$83.8

$70.3

$45.3

$42.1

$8.6

US$ millions

Global Footprint

Krystal employees

Countries

$2.79

$0.03

$0.53

$0.91

$1.20

$1.29

$1.52

$1.70

$1.83

$2.66

US$; 30.5 million shares fully diluted

$0.30

In-House Manufacturing

U.S. cGMP manufacturing capacity

Financial Strength

Cash and investments as of 1Q 2026

2023

2024

2025

2026

KB801

for

neurotropic keratitis

Reduced regulatory redundancy

Faster development timelines

KB111

for

Hailey-Hailey disease

KB407

for cystic fibrosis

Streamlined review process

Compounding regulatory advantage

Launched Markets*

Over 140

Estimated DEB Patients with VYJUVEK Prescriptions Across Germany, France*, and Japan

Now Expecting to Launch in Italy and Spain in 2H 2026

* Subject to early access conditions under AP2 program

$28.9M in net revenue in Europe and Japan

Pricing negotiation decisions expected in 2H 2026 in Germany and 2027 in France

Launch in Italy and Spain anticipated in 2H 2026 following pricing negotiations

$87.5M in net revenue in the U.S.

Over 695

Reimbursement Approvals for VYJUVEK

Strong sales force execution is driving demand , community reach, and patient starts

Over 60 new prescribers 1Q 2026

Over 570 unique prescribers since launch

Maintenance regimens increasing Q over Q driven by

Robust drug efficacy and safety profile

Quality of life improvement and greater autonomy

Adapting our infrastructure and leveraging VYJUVEK's convenient dose format to ensure all DEB patients

across the United States can benefit from corrective therapy where and when they need it

KB803 for Treatment and Prevention of Corneal Abrasions in DEB

Registrational IOLITE Study Design

Natural History Study Run In

KB803 Three Times / Week 12 Weeks

Placebo Three Times / Week 12 Weeks

Primary Efficacy Analysis

Weekly Symptom Diaries Weekly Symptom Diaries

+ investigator check-in every 1-2 weeks + investigator check-in every 2 weeks

Placebo Three Times / Week 12 Weeks

KB803 Three Times / Week 12 Weeks

Top-Line Data Expected 4Q 2026

Fully Enrolled April 2026

16 DEB Patients Enrolled

1:1 Randomization

KB801 for Neurotrophic Keratitis

Currently enrolling and on track to report top-line results later this year

Primary Efficacy Analysis: Change from baseline in average number of days per month with corneal abrasion symptoms

KB407

for CF

Initiating open-label study to evaluate safety of repeat dose KB407 in CF patients, expecting to dose first patient later this month

Expect to complete enrollment in 2Q 2026 and report data in 4Q 2026

Strong engagement with FDA and CFF regarding innovative registrational study design with final alignment expected in 2H 2026

✓

KB111

for HHD

HHD-specific scale development progressing well supported by high engagement from HHD patient community

Leveraging strong interest, initiating open-label study to evaluate repeat dose KB111 in HHD patients, also expecting to start dosing later this month

Planning to submit data along with scale and registrational study design to FDA in 2H 2026

✓

Plus: Additional clinical data updates expected for KB408 for AATD and KB707 for NSCLC later this year

Three Months Ended March 31

2026

2025

Product revenue, net

$116.4M

$88.2M

Cost of goods sold

$6.3M

$5.0M

Gross margin

95%

94%

R&D expenses

$15.3M

$14.3M

SG&A expenses

$41.0M

$32.6M

Stock-based compensation expense1

$13.6M

$13.5M

Net income

$55.9M

$35.7M

Net income per share (basic)

$1.91

$1.24

Net income per share (diluted)

$1.83

$1.20

GAAP, generally accepted accounting principles; R&D, research and development; SG&A, selling, general, and administrative expenses

Represents the amount of stock-based compensation expense included in R&D and SG&A expenses

Non-GAAP combined R&D and SG&A expense guidance does not include stock-based compensation, for more information refer to Forward Looking Statements and Disclosures on slide 2

Global VYJUVEK expansion with launches in Italy and Spain

Two registrational study readouts in ophthalmology

KB803 for corneal abrasions in DEB patients

KB801 for neurotrophic keratitis

Repeat dose study results on the path towards registrational studies and readouts in 2027

KB407 for cystic fibrosis

KB111 for Hailey-Hailey disease

Clinical updates for KB707 in non-small cell lung cancer and KB408 in alpha-1 antitrypsin deficiency

Krystal | 10

DEB, dystrophic epidermolysis bullosa

Krystal is well positioned to deliver long-term, sustained growth

Developing Genetic Medicines to Treat Diseases with High Unmet Medical Needs

Krystal

Disclaimer

Krystal Biotech Inc. published this content on May 04, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 04, 2026 at 16:24 UTC.