Krystal Biotech, Inc. (KRYS): History, Ownership, Mission, How It Works & Makes Money

Have you heard of Krystal Biotech, Inc. (KRYS), a rising star in the biotechnology world? With their innovative approach to genetic medicines and a focus on diseases with unmet medical needs, the company has been making significant strides, including full year 2024 revenues increased 473% to $290.5 million versus 2023. Keep reading to explore the history, ownership structure, mission, operational mechanisms, and revenue streams that define this groundbreaking company.

Krystal Biotech, Inc. (KRYS) History

Krystal Biotech's Founding Timeline

Year established

The company was established in 2016.

Original location

The company is headquartered in Pittsburgh, Pennsylvania.

Founding team members

The founder and current Chairman and CEO is Krish S. Krishnan.

Initial capital/funding

In 2017, Krystal Biotech raised $27.0 million in Series A financing led by Versant Ventures.

Krystal Biotech's Evolution Milestones

Krystal Biotech's Transformative Moments

• Focus on Rare Diseases: Krystal Biotech strategically focused on developing therapies for rare and orphan diseases, particularly those with limited or no existing treatment options. This focus allowed the company to address unmet medical needs and potentially secure orphan drug designations, which provide regulatory and financial incentives.
• HEREDITARY SKIN DISEASE: Krystal Biotech is dedicated to developing and delivering innovative and potentially life-changing gene therapies to patients affected with debilitating inherited skin diseases.
• Platform Technology: The development of a proprietary gene therapy platform, utilizing a modified herpes simplex virus type 1 (HSV-1) vector, has been a transformative technological decision. This platform allows for the efficient and targeted delivery of therapeutic genes to specific cells, enhancing the potential for effective treatments.
• VYJUVEK Approval and Launch: The FDA approval and subsequent commercial launch of VYJUVEK in 2022 marked a pivotal moment, transitioning Krystal Biotech from a clinical-stage company to a commercial entity. This success validated the company's technology and development strategy.
• Strategic Acquisitions and Partnerships: Krystal Biotech has actively pursued strategic acquisitions and partnerships to expand its pipeline, access new technologies, and strengthen its market position.

To gain more insights into the company's guiding principles, explore Mission Statement, Vision, & Core Values of Krystal Biotech, Inc. (KRYS).

Krystal Biotech, Inc. (KRYS) Ownership Structure

Understanding the ownership structure of Krystal Biotech, Inc. is crucial for investors and stakeholders to gauge control and influence within the company.

Krystal Biotech, Inc.'s Current Status

Krystal Biotech, Inc. is a public company, trading under the ticker symbol KRYS on the Nasdaq Global Select Market. This means that a portion of the company is owned by public investors, and its shares are available for trading on the stock market.

Krystal Biotech, Inc.'s Ownership Breakdown

The ownership of Krystal Biotech is distributed among various shareholders, including institutional investors, individual shareholders, and company insiders. The following table provides an overview of the ownership breakdown:

Krystal Biotech, Inc.'s Leadership

Krystal Biotech's direction is guided by a team of experienced leaders. Key members of the leadership team as of April 2025 include:

• Krish S. Krishnan: Chairman and Chief Executive Officer
• Suma Krishnan: President and Chief Operating Officer
• Andy Park: Chief Financial Officer

For more insight into the company's goals, explore Mission Statement, Vision, & Core Values of Krystal Biotech, Inc. (KRYS).

Krystal Biotech, Inc. (KRYS) Mission and Values

Krystal Biotech is dedicated to developing and commercializing novel genetic medicines for patients with rare diseases. The company values innovation, patient-centricity, and a commitment to making a meaningful difference in the lives of those affected by debilitating conditions.

Krystal Biotech's Core Purpose

Official mission statement

Krystal Biotech's mission statement is: 'To develop and commercialize novel genetic medicines for patients with rare diseases.'

• Focuses on addressing unmet needs in rare diseases through innovative gene therapy.
• Aims to provide potentially curative treatments for patients with limited or no existing options.

Vision statement

While a specific formal vision statement may not be explicitly publicized, Krystal Biotech's vision can be inferred from their actions and goals:

• To be a leader in the field of genetic medicines for rare diseases.
• To transform the lives of patients with rare diseases through innovative and effective therapies.
• To build a sustainable and impactful biotechnology company.

Company slogan/tagline

Krystal Biotech does not have a widely publicized official slogan or tagline. However, considering their focus and mission, a fitting tagline could be:

• 'Gene Therapy for Life's Rarest Challenges.'
• 'Innovating Genetic Solutions for Rare Diseases.'
• 'Transforming Lives Through Gene Therapy.'

To gain more insights into Krystal Biotech's financial standing, consider reading: Breaking Down Krystal Biotech, Inc. (KRYS) Financial Health: Key Insights for Investors

Krystal Biotech, Inc. (KRYS) How It Works

Krystal Biotech, Inc. operates by focusing on developing and commercializing gene therapies for rare dermatological diseases. The company uses its Skin TARgeted Delivery (STAR-D) platform to develop therapies that deliver modified genes directly to skin cells, aiming to correct genetic defects at the source.

Krystal Biotech's Product/Service Portfolio

Krystal Biotech's Operational Framework

Krystal Biotech's operations are built around its STAR-D platform, which is designed to develop and deliver gene therapies directly to the skin. Key aspects of their operational framework include:

• Research and Development: Continual investment in research to expand the STAR-D platform and identify new gene therapy candidates.
• Clinical Trials: Conducting rigorous clinical trials to evaluate the safety and efficacy of their gene therapies.
• Manufacturing: Focus on scalable manufacturing processes to ensure consistent supply of gene therapy products.
• Regulatory Approval: Working closely with regulatory agencies like the FDA to secure approvals for their therapies.
• Commercialization: Launching and marketing approved therapies to reach patients in need.

Krystal Biotech's Strategic Advantages

Krystal Biotech has several strategic advantages that contribute to its success in the competitive biotechnology industry:

• Innovative Technology: The STAR-D platform provides a unique approach to delivering gene therapies directly to the skin, potentially improving efficacy and reducing side effects.
• First-Mover Advantage: VYJUVEK™ is the first FDA-approved gene therapy for DEB, giving Krystal Biotech a significant head start in this market.
• Strong Intellectual Property: A robust patent portfolio protects their technology and therapies, creating a barrier to entry for competitors.
• Focus on Rare Diseases: By targeting rare dermatological diseases, Krystal Biotech can address unmet needs and potentially receive orphan drug designation, which provides regulatory and financial benefits.
• Experienced Management Team: A team with expertise in gene therapy development, manufacturing, and commercialization guides the company's strategy and operations.

More information about the company can be found here: Mission Statement, Vision, & Core Values of Krystal Biotech, Inc. (KRYS).

Krystal Biotech, Inc. (KRYS) How It Makes Money

Krystal Biotech, Inc. primarily generates revenue through the development and commercialization of gene therapies for rare diseases. Specifically, the company's main revenue stream comes from sales of its approved therapies, such as VYJUVEK^®, which treats dystrophic epidermolysis bullosa (DEB).

Krystal Biotech, Inc.'s Revenue Breakdown

Krystal Biotech, Inc.'s Business Economics

Krystal Biotech's business economics are centered around the high value of addressing rare diseases with limited or no existing treatment options. Key aspects include:

• Pricing Strategy: High prices for therapies like VYJUVEK^® reflect the significant investment in research, development, and clinical trials, as well as the potential to dramatically improve patients' lives. The list price for VYJUVEK^® is $24,200 per vial.
• Gross Margins: Gene therapies typically have high gross margins due to the complex manufacturing processes and the specialized nature of the products.
• Reimbursement: Securing favorable reimbursement terms from insurance companies and government healthcare programs is crucial for market access and revenue generation.
• Manufacturing: Krystal Biotech has invested in its own manufacturing capabilities to control production costs and ensure supply.

Krystal Biotech, Inc.'s Financial Performance

Krystal Biotech's financial performance reflects its transition from a research and development company to a commercial entity. Here are some key points:

• Revenue Growth: The launch of VYJUVEK^® has driven substantial revenue growth, with product revenues reaching $87.7 million in 2024, compared to $0.7 million in 2023.
• Operating Expenses: Operating expenses have increased due to the costs associated with commercializing VYJUVEK^®, including sales and marketing, as well as ongoing research and development efforts. Operating expenses for 2024 were $243.8 million, up from $174.4 million in 2023.
• Net Loss: Despite growing revenues, Krystal Biotech has experienced net losses, which is common for biotechnology companies in their early stages of commercialization. The net loss for 2024 was $158.3 million, compared to $174.2 million for 2023.
• Cash Position: Maintaining a strong cash position is essential to fund ongoing operations and future development programs. As of December 31, 2024, Krystal Biotech had cash, cash equivalents, and marketable securities totaling $369.1 million.

To gain a deeper understanding of the company's financial health, you can explore this resource: Breaking Down Krystal Biotech, Inc. (KRYS) Financial Health: Key Insights for Investors

Krystal Biotech, Inc. (KRYS) Market Position & Future Outlook

Krystal Biotech is making strides in genetic medicines, particularly with its focus on rare diseases and innovative gene therapy platform. The company's future hinges on expanding its approved therapies, navigating regulatory landscapes, and capitalizing on market opportunities within the competitive biotech arena.

Competitive Landscape

Opportunities & Challenges

Industry Position

Krystal Biotech is carving out a niche in the competitive biotech industry through its focus on rare genetic skin diseases. The successful development and approval of Vyjuvek have established the company as a leader in the field of dystrophic epidermolysis bullosa (DEB). However, the company faces challenges from larger, more established players in the gene therapy space.

• First-Mover Advantage: Krystal Biotech benefits from being the first to market with an approved gene therapy for DEB.
• Pipeline Expansion: The company is actively developing new gene therapies for other rare diseases, which could significantly expand its market reach.
• Strategic Collaborations: Forming partnerships with other companies or research institutions could accelerate the development and commercialization of new therapies.

To delve deeper into the company's foundational principles, explore: Mission Statement, Vision, & Core Values of Krystal Biotech, Inc. (KRYS).