On November 2, 2026, Krystal Biotech, Inc. reported its financial results for the third quarter ended September 30, 2026. The company announced a global net product revenue of $127.3 million for the quarter, representing a 30% increase compared to the same period in the prior year. The company also reported a net income of $63.1 million for the quarter, or $2.13 per basic share and $2.05 per diluted share.
As of September 30, 2026, Krystal Biotech held $1.2 billion in cash, cash equivalents, and investments. The company also disclosed that its Board of Directors has authorized a share repurchase program allowing for the purchase of up to $400 million of its outstanding common stock. The program may be executed through open-market purchases, privately negotiated transactions, or other means permitted under applicable securities laws.
On the commercial front, the company noted that pricing negotiations for its VYJUVEK product are complete in Germany and Italy. The company expects to launch VYJUVEK in Italy in early 2027. Pricing negotiations are ongoing in multiple European countries and the United Kingdom. Additionally, the company has submitted a marketing authorization application for VYJUVEK in Australia and expects to submit an application for Switzerland before the end of the year.
In clinical updates, the company reported that enrollment is complete and dosing is ongoing for its HALITE-1 study of KB111 for Hailey-Hailey disease. The company expects to report interim study results before the end of the year. Regarding KB113 for Gorlin syndrome, the company announced that more than 80% of assessed basal cell carcinoma lesions showed regression in a pilot study. The company has initiated discussions with the FDA regarding the advanced clinical development of KB113.
For KB803, the company has enrolled three additional patients in its IOLITE study, including one child aged one year. The company now expects the last patient visit in February 2027. Enrollment is ongoing in the EMERALD-1 study of KB801 for neurotrophic keratitis, with the company expecting to complete enrollment of approximately 60 patients in 2027.
Regarding KB407 for cystic fibrosis, the company expects to enroll and dose three additional patients before year end, with interim study results anticipated in the first half of 2027. The company was selected for the FDA’s Complex Innovative Trial Design (CID) Meeting Program and is on track to initiate a registrational study in 2027. The company also continues to enroll in the SERPENTINE-1 study of KB408 for alpha-1 antitrypsin deficiency lung disease and expects to report interim study results in 2027.
In oncology, the company reported interim clinical results from the KYANITE-1 dose expansion cohort evaluating inhaled KB707 in combination with pembrolizumab, demonstrating an objective response rate of 31% and a disease control rate of 75%. The company is currently enrolling patients with advanced non-small cell lung cancer in a global dose expansion cohort evaluating KB707 in combination with chemotherapy. Finally, the company’s aesthetics subsidiary, Jeune Aesthetics, Inc., expects to initiate a Phase 2 study of its lead program KB304 in 2027.
