Krystal Biotech, Inc.
KRYS evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for KRYS—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · KRYS
Krystal Biotech, Inc. is a commercial-stage biotechnology company focused on developing and commercializing genetic medicines, with its lead product VYJUVEK approved for the treatment of dystrophic epidermolysis bullosa.
Key risk: Unpredictable clinical trial costs
BioSniper Score
Based on 6 of 6 signals
Financial data as of Jun 30, 2026.
Tracking 2 pipeline candidates · 10 clinical trials · 1 catalyst for Krystal Biotech, Inc..
Krystal Biotech, Inc. is a commercial-stage biotechnology company focused on developing and commercializing genetic medicines, with its lead product VYJUVEK approved for the treatment of dystrophic epidermolysis bullosa.
- Lead product VYJUVEK is approved and commercialized for dystrophic epidermolysis bullosa [sec_mda · as of 2026-08-03].
- Cash, cash equivalents, and short-term investments were $427.7 million as of June 30, 2026 [sec].
- Total revenue was $119.2 million and net income was $54.8 million for the period ended June 30, 2026 [sec].
- Shareholders' equity stood at $1,219.6 million as of June 30, 2026 [sec].
- The company is advancing a pipeline of product candidates, including KB803 for corneal indications with a Phase 3 topline readout expected in December 2026 [upcoming catalysts].
What works
- Krystal has a commercially approved product (VYJUVEK) generating revenue, with total revenue of $119.2 million as of June 30, 2026 [sec].
- The company has a strong cash position of $427.7 million as of June 30, 2026, providing a multi-year operational runway [sec].
- Krystal has achieved profitability, reporting net income of $54.8 million as of June 30, 2026 [sec].
- The company has a positive shareholders' equity of $1,219.6 million as of June 30, 2026, indicating a solid balance sheet [sec].
What to weigh
- Clinical trial costs are unpredictable, and there is no guarantee of sufficient capital to fund planned studies or operations [sec_mda · as of 2026-08-03].
- Future revenue is expected to fluctuate quarter to quarter due to uncertain timing and amount of product sales [sec_mda · as of 2026-08-03].
- The company relies on third-party contract research organizations and contract manufacturers for some clinical and manufacturing activities, introducing operational dependencies [sec_mda · as of 2026-08-03].
- Krystal may need additional funding through equity or debt offerings to support its pipeline and commercialization, which may not be available on favorable terms [sec_mda · as of 2026-02-17].
From the filings
Quoted directly from source documents.
Krystal has a commercially approved product, VYJUVEK.
“the costs needed to globally commercialize and market our lead product, VYJUVEK”
SEC MD&A · August 3, 2026
Catalyst timeline
- 2026-12-01 · Phase3_Topline — Phase 3 Topline: A Double-Blind Crossover of KB803 and Matched Placebo for the Treatment and Prevention of Corneal Ab — This is a key clinical readout for KB803, evaluating its efficacy in treating and preventing corneal abrasions.
Risks & what to watch (4)›
Key risks
- Unpredictable clinical trial costs — Costs related to clinical trials can be unpredictable, and there is no guarantee of sufficient capital to fund planned studies [sec_mda · as of 2026-08-03].
- Revenue fluctuation risk — Future revenue is expected to fluctuate quarter to quarter due to uncertain timing and amount of product sales [sec_mda · as of 2026-08-03].
- Dependence on third parties — Reliance on contract research organizations and contract manufacturers for clinical and manufacturing activities [sec_mda · as of 2026-08-03].
- Need for additional capital — May require further funding through equity or debt offerings, which may not be available on acceptable terms [sec_mda · as of 2026-02-17].
What to watch
- Phase 3 topline data for KB803 in corneal indications expected in December 2026 [upcoming catalysts].
- Commercial performance and revenue trajectory of VYJUVEK in upcoming quarters [sec_mda · as of 2026-08-03].
- Progress and costs of clinical trials for pipeline product candidates [sec_mda · as of 2026-08-03].
- Any updates on manufacturing scale-up or regulatory filings for new indications [sec_mda · as of 2026-08-03].
Sources: SEC MD&A · Generated August 29, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 6 of 6 signals · derived from public data
Profitable (positive operating cash flow)
D/E 0.10 · 4% dilution
Lead: Approved
2 candidates
1 upcoming, next in ~93d
0 buys · 52 sells (180d)
Catalysts
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
364
Total value held
$6.23B
| Holder | Shares | Value |
|---|---|---|
| fmr llc | 4,373,987 | $1.13B |
| blackrock, inc. | 3,940,456 | $1.02B |
| vanguard capital management llc | 2,330,648 | $602.1M |
| vanguard portfolio management llc | 1,456,727 | $376.3M |
| state street corp | 1,314,434 | $339.5M |
| geode capital management, llc | 643,975 | $166.4M |
| hood river capital management llc | 619,586 | $160.1M |
| janus henderson group plc | 533,318 | $137.8M |
| bellevue group ag | 481,785 | $124.5M |
| frazier life sciences management, l.p. | 481,307 | $124.3M |
Showing top 10 of 364 institutional holders of Krystal Biotech, Inc.. Open the full 13F history after sign-in.
Short Interest
as of Apr 30, 2026- % of float
- 16.3%
- Days to cover
- 10.0
- Shares short
- 2,912,515
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
KRYS short interestGovernance
Frequently asked questions
What is the AI investment thesis for Krystal Biotech, Inc.?
Krystal Biotech, Inc. is a commercial-stage biotechnology company focused on developing and commercializing genetic medicines, with its lead product VYJUVEK approved for the treatment of dystrophic epidermolysis bullosa.
What is Krystal Biotech, Inc.'s lead drug candidate?
Krystal Biotech, Inc.'s most advanced tracked candidate is kb801 (Phase 3) for Neurotrophic Keratitis.
What is Krystal Biotech, Inc.'s next catalyst?
Krystal Biotech, Inc.'s next tracked catalyst is a Phase3_Topline event — "Phase 3 Topline: A Double-Blind Crossover of KB803 and Matched Placebo for the Treatment and Prevention of Corneal Ab" — expected December 1, 2026.
Who is the CEO of Krystal Biotech, Inc.?
Mr. Krish S. Krishnan M.B.A., M.S. is the chief executive officer of Krystal Biotech, Inc. (KRYS).
Where is Krystal Biotech, Inc. headquartered?
Krystal Biotech, Inc. (KRYS) is headquartered in Pittsburgh, PA, United States.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.