Tearsheet

Krystal Biotech (KRYS)

Market Price (6/8/2026): $301.5 | Market Cap: $8.8 BilSector: Health Care | Industry: Biotechnology

Krystal Biotech (KRYS)

Market Price (6/8/2026): $301.5
Market Cap: $8.8 Bil
Sector: Health Care
Industry: Biotechnology

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 43%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 60%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 57%

Low stock price volatility
Vol 12M is 39%

Megatrend and thematic drivers
Megatrends include Biotechnology & Genomics, and Precision Medicine. Themes include Gene Editing & Therapy, Targeted Therapies, Show more.

Trading close to highs
Dist 52W High is -4.8%, Dist 3Y High is -4.8%

Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11%

Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 49x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 35x, P/EPrice/Earnings or Price/(Net Income) is 39x

Stock price has recently run up significantly
12M Rtn12 month market price return is 120%

Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 13%

Key risks
KRYS key risks include [1] substantial revenue dependence on its single commercial product, Show more.

0	Attractive operating margins Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 43%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 60%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 57%
2	Low stock price volatility Vol 12M is 39%
3	Megatrend and thematic drivers Megatrends include Biotechnology & Genomics, and Precision Medicine. Themes include Gene Editing & Therapy, Targeted Therapies, Show more.
4	Trading close to highs Dist 52W High is -4.8%, Dist 3Y High is -4.8%
5	Meaningful short interest Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11%
6	Expensive valuation multiples P/EBITPrice/EBIT or Price/(Operating Income) ratio is 49x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 35x, P/EPrice/Earnings or Price/(Net Income) is 39x
7	Stock price has recently run up significantly 12M Rtn12 month market price return is 120%
8	Significant share based compensation SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 13%
9	Key risks KRYS key risks include [1] substantial revenue dependence on its single commercial product, Show more.

Valuation, Metrics & Events

FYE: 12/31	Forward FYE		Now	Historical (CYE & TTM)
	2027	2026	6/8/26	2025	2024	2023	2022
Share Price			$301.50	$246.54	$156.66	$124.06	$79.22
Mkt Cap ($ Bil)			8.8	7.2	4.5	3.5	2.0
+ Debt ($ Bil)			0.0	0.0	0.0	0.0	0.0
- Cash ($ Bil)			0.8	0.8	0.6	0.5	0.4
TEV ($ Bil)			8.0	7.2	4.5	3.5	2.0
Valuation Ratios
P/S	13.4	16.9	21.2	18.4	15.5	69.0	-
P/EBIT	37.8	47.8	49.4	44.5	43.6	-36.0	-16.9
P/E	28.6	37.3	39.2	35.0	50.5	319.8	-14.5
P/FCF	—	—	37.2	38.0	37.8	-34.8	-13.3
Sector Ratios (* = sector average)
P/S *			3.7	4.2	3.9	4.2	4.6
P/EBIT *			-1.7	-1.7	-1.5	-1.5	-1.3
P/E *			-1.8	-1.8	-1.7	-1.6	-1.3
P/FCF *			-1.8	-1.8	-1.5	-1.6	-1.6

FYE: 12/31	Forward FYE		Now
	2027	2026	6/8/26
Share Price			$301.50
Mkt Cap ($ Bil)			8.8
+ Debt ($ Bil)			0.0
- Cash ($ Bil)			0.8
TEV ($ Bil)			8.0
Valuation Ratios
P/S	13.4	16.9	21.2
P/EBIT	37.8	47.8	49.4
P/E	28.6	37.3	39.2
P/FCF	—	—	37.2
Sector Ratios (* = sector average)
P/S *			3.7
P/EBIT *			-1.7
P/E *			-1.8
P/FCF *			-1.8

	KRYS	S&P 500
REVENUE GROWTH	VERY GOOD
Rev LTM ($ Bil)	0.4
Rev Chg Q	31.9%	8.8%
Rev Chg LTM	25.1%	7.4%
Rev Chg 3Y Avg	136.3%	5.8%
PROFITABILITY	VERY GOOD
Op Inc LTM ($ Bil)	0.2
CFO LTM ($ Bil)	0.3
Net Inc LTM ($ Bil)	0.2
Op Mgn LTM	42.8%	18.4%
CFO/Rev LTM	60.0%	21.2%
Net Inc Mgn	53.9%	13.0%
VALUATION	HIGH
P/S	21.2	3.2
P/CFO	35.3	15.1
P/FCF	37.2	19.4
P/E	39.2	23.9
STABILITY	VERY GOOD
Debt/Equity	0.00	0.22
Cash/Assets	0.59	0.07

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Metric	Value	Date	Source
VYJUVEK Reimbursement Approvals in the U.S.	over 615	11032025	Link
Patient Compliance with Weekly VYJUVEK Treatment	82%	6302025	Link
Patients Prescribed VYJUVEK in Germany	approximately 20	11032025	Link
Identified Dystrophic Epidermolysis Bullosa (DEB) Patients in the U.S.	1200	2262024	Link
Patient Start Forms for VYJUVEK	284	11062023	Link
Dystrophic Epidermolysis Bullosa (DEB) Patients Enrolled in Natural History Study	approximately 50	2192025	Link
Estimated Global Market Opportunity for Vyjuvek	over $750 million	7312023	Link

No Events

Price Chart

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Why The Stock Moved

Qualitative Assessment

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Updated on 6/1/2026

Krystal Biotech (KRYS) stock has gained about 10% since 2/28/2026 because of the following key factors:

1. Krystal Biotech reported stronger-than-expected financial results for the first quarter of 2026. The company announced an Earnings Per Share (EPS) of $1.83, significantly surpassing analysts' consensus estimates of $1.45 by $0.38. Additionally, quarterly revenue reached $116.36 million, exceeding the consensus estimate of $112.11 million. Global net revenue from VYJUVEK sales grew 32% year-over-year to $116.4 million, contributing to a net income of $55.9 million, an increase from $35.7 million in Q1 2025. This strong financial performance was a key catalyst for the stock's positive movement.

2. The company secured a significant regulatory approval with the United Kingdom's MHRA marketing authorization for VYJUVEK. On May 15, 2026, the United Kingdom Medicines and Healthcare products Regulatory Agency (MHRA) granted approval for VYJUVEK (beremagene geperpavec-svdt) for the treatment of wounds in patients with dystrophic epidermolysis bullosa (DEB). This marks the fourth major global regulatory approval for VYJUVEK, following its approvals in the United States (May 2023), the European Union (April 2025), and Japan (July 2025), further expanding the commercial reach and market potential for Krystal Biotech's lead product.

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Stock Movement Drivers

Fundamental Drivers

The 9.4% change in KRYS stock from 2/28/2026 to 6/7/2026 was primarily driven by a 7.2% change in the company's Total Revenues ($ Mil).

(LTM values as of)	2282026	6072026	Change
Stock Price ($)	275.64	301.50	9.4%
Change Contribution By:
Total Revenues ($ Mil)	389	417	7.2%
Net Income Margin (%)	52.6%	53.9%	2.4%
P/E Multiple	39.2	39.2	0.2%
Shares Outstanding (Mil)	29	29	-0.7%
Cumulative Contribution			9.4%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 6/7/2026

	Return	Correlation
KRYS	9.2%
Market (SPY)	7.8%	44.4%
Sector (XLV)	-4.1%	30.2%

Fundamental Drivers

The 38.3% change in KRYS stock from 11/30/2025 to 6/7/2026 was primarily driven by a 23.7% change in the company's P/E Multiple.

(LTM values as of)	11302025	6072026	Change
Stock Price ($)	218.00	301.50	38.3%
Change Contribution By:
Total Revenues ($ Mil)	373	417	11.8%
Net Income Margin (%)	53.3%	53.9%	1.2%
P/E Multiple	31.7	39.2	23.7%
Shares Outstanding (Mil)	29	29	-1.1%
Cumulative Contribution			38.3%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 6/7/2026

	Return	Correlation
KRYS	38.1%
Market (SPY)	8.5%	35.9%
Sector (XLV)	-2.1%	27.1%

Fundamental Drivers

The 139.4% change in KRYS stock from 5/31/2025 to 6/7/2026 was primarily driven by a 45.1% change in the company's Net Income Margin (%).

(LTM values as of)	5312025	6072026	Change
Stock Price ($)	125.96	301.50	139.4%
Change Contribution By:
Total Revenues ($ Mil)	333	417	25.1%
Net Income Margin (%)	37.2%	53.9%	45.1%
P/E Multiple	29.3	39.2	34.0%
Shares Outstanding (Mil)	29	29	-1.6%
Cumulative Contribution			139.4%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2025 to 6/7/2026

	Return	Correlation
KRYS	139.0%
Market (SPY)	26.6%	29.7%
Sector (XLV)	17.4%	25.0%

Fundamental Drivers

The 155.8% change in KRYS stock from 5/31/2023 to 6/7/2026 was primarily driven by a 9.2233720368547763E17% change in the company's Total Revenues ($ Mil).

(LTM values as of)	5312023	6072026	Change
Stock Price ($)	117.85	301.50	155.8%
Change Contribution By:
Total Revenues ($ Mil)	0	417	9.2233720368547763E17%
P/S Multiple	∞	21.2
Shares Outstanding (Mil)	26	29	-12.2%
Cumulative Contribution			0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2023 to 6/7/2026

	Return	Correlation
KRYS	155.4%
Market (SPY)	83.4%	29.8%
Sector (XLV)	25.8%	28.9%

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
KRYS Return	17%	13%	57%	26%	57%	25%	413%
Peers Return	-34%	-9%	10%	-16%	1%	-13%	-52%
S&P 500 Return	27%	-19%	24%	23%	16%	11%	102%
Monthly Win Rates [3]
KRYS Win Rate	42%	58%	50%	50%	75%	50%
Peers Win Rate	40%	52%	43%	45%	60%	37%
S&P 500 Win Rate	75%	42%	67%	75%	67%	67%
Max Drawdowns [4]
KRYS Max Drawdown	-53%	-33%	-26%	-27%	-37%	-16%
Peers Max Drawdown	-50%	-42%	-40%	-43%	-51%	-33%
S&P 500 Max Drawdown	-5%	-25%	-10%	-8%	-19%	-9%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: VRTX, SRPT, RARE, CRSP, RGNX.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/5/2026 (YTD)

Event	KRYS	S&P 500
2025 US Tariff Shock
% Loss	-30.0%	-18.8%
% Gain to Breakeven	42.8%	23.1%
Time to Breakeven	124 days	79 days
Summer-Fall 2023 Five Percent Yield Shock
% Loss	-19.4%	-9.5%
% Gain to Breakeven	24.0%	10.5%
Time to Breakeven	40 days	24 days
2022 Inflation Shock & Fed Tightening
% Loss	-32.1%	-24.5%
% Gain to Breakeven	47.4%	32.4%
Time to Breakeven	56 days	427 days
2020 COVID-19 Crash
% Loss	-44.1%	-33.7%
% Gain to Breakeven	79.0%	50.9%
Time to Breakeven	294 days	140 days

Compare to VRTX, SRPT, RARE, CRSP, RGNX

In The Past

Krystal Biotech's stock fell -30.0% during the 2025 US Tariff Shock. Such a loss loss requires a 42.8% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

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Event	KRYS	S&P 500
2025 US Tariff Shock
% Loss	-30.0%	-18.8%
% Gain to Breakeven	42.8%	23.1%
Time to Breakeven	124 days	79 days
2022 Inflation Shock & Fed Tightening
% Loss	-32.1%	-24.5%
% Gain to Breakeven	47.4%	32.4%
Time to Breakeven	56 days	427 days
2020 COVID-19 Crash
% Loss	-44.1%	-33.7%
% Gain to Breakeven	79.0%	50.9%
Time to Breakeven	294 days	140 days

Compare to VRTX, SRPT, RARE, CRSP, RGNX

In The Past

Krystal Biotech's stock fell -30.0% during the 2025 US Tariff Shock. Such a loss loss requires a 42.8% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Krystal Biotech (KRYS)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

Krystal Biotech, Inc., a clinical stage biotechnology company, engages in the field of redosable gene therapy to treat serious rare diseases in the United States. Its lead product candidate is beremagene geperpavec (B-VEC), which is in Phase III clinical study to treat dystrophic epidermolysis bullosa. The company is also involved in developing KB105 that is in Phase I/II clinical study for treating patients with deficient autosomal recessive congenital ichthyosis; KB301, which is in Phase I/II clinical stage for treating wrinkles and other presentations of aged or damaged skin; KB407 that is in preclinical stage for cystic fibrosis; and KB104, which is in preclinical stage for netherton syndrome. Its discovery stage product candidates include KB5xx for treating chronic skin diseases, KB3xx to treat aesthetic skin conditions, and KB3xx product. Krystal Biotech, Inc. was founded in 2015 and is headquartered in Pittsburgh, Pennsylvania.

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Here are 1-2 brief analogies to describe Krystal Biotech:

Like Sarepta Therapeutics, but focused on gene therapies for rare skin diseases.
The Vertex Pharmaceuticals of gene therapy for rare skin conditions.

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Krystal Biotech's major products are pipeline gene therapies for rare diseases and aesthetic conditions:

beremagene geperpavec (B-VEC): A gene therapy in Phase III clinical study for treating dystrophic epidermolysis bullosa.
KB105: A gene therapy in Phase I/II clinical study for deficient autosomal recessive congenital ichthyosis.
KB301: A gene therapy in Phase I/II clinical stage for treating wrinkles and other presentations of aged or damaged skin.
KB407: A gene therapy in preclinical stage for cystic fibrosis.
KB104: A gene therapy in preclinical stage for netherton syndrome.
KB5xx: A discovery stage product candidate for treating chronic skin diseases.
KB3xx: A discovery stage product candidate for treating aesthetic skin conditions.

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Krystal Biotech (KRYS) is a clinical-stage biotechnology company focused on developing gene therapies. As per the provided description, all of its product candidates, including its lead candidate beremagene geperpavec (B-VEC), are currently in various stages of clinical trials (Phase III, Phase I/II, preclinical, or discovery stage).

Given its status as a clinical-stage company, Krystal Biotech does not currently have any commercially approved products on the market. Consequently, it does not have "major customers" in the traditional sense of companies or individuals purchasing its products.

Once its products receive regulatory approval and are commercialized, the direct customers would primarily be healthcare systems, hospitals, specialty pharmacies, or clinics that administer these gene therapies to individual patients suffering from the rare diseases they are designed to treat.

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Krish Krishnan, Chairman & CEO

Krish Krishnan co-founded Krystal Biotech with his wife, Suma Krishnan, in 2016. He is an accomplished biotech executive with involvement in two successful IPOs, serving as COO/CFO of New River Pharmaceuticals, Inc. (NASDAQ: NRPH) and COO of Intrexon Corporation, Inc. (NYSE: XON). New River Pharmaceuticals, Inc. was sold to Shire Pharmaceuticals, plc for $2.6 billion. Krishnan also served as CEO of Pinnacle Pharmaceuticals, Inc. and was previously a Managing Principal of Suppliermarket.com, which was sold to Ariba in 2001 for $500 million. He has served as a board member for Biotie Therapies Oyi and Thar Pharmaceuticals, Inc. prior to its sale to Grunenthal GmbH in 2017. Earlier in his career, he worked at Third Security, a manager of venture capital funds focused on life sciences.

Suma Krishnan, President, Research & Development

Suma Krishnan co-founded Krystal Biotech with her husband, Krish Krishnan, in 2016. She possesses 25 years of drug development experience, having delivered multiple gene therapy programs from discovery to clinic as Head of Therapeutics at Intrexon Corporation. As SVP, Product Development at New River Pharmaceuticals, she led the discovery, development, and approval of Vyvanse™, a blockbuster drug for ADHD. She also advanced the approval of Adderall XR® and Fosrenol® at Shire, where she had a lucrative career before joining New River. Suma began her career as a discovery scientist for Janssen Pharmaceuticals, Inc. She holds over 70 patents for various drugs and, along with her husband, chose to self-fund Krystal Biotech rather than seek venture capital, using funds from previous biotech successes.

Kathryn Romano, EVP & Chief Accounting Officer

Kathryn Romano was appointed Chief Accounting Officer in February 2020. Prior to joining Krystal Biotech, she was the Corporate Controller at CNX Resources Corporation. She also served as Corporate Controller of Rice Energy from January 2013 until its acquisition by EQT in November 2017, remaining with the company through the transition until March 2018. Her earlier experience includes various accounting and auditing roles at Black Box Corporation and Deloitte. Ms. Romano is a Certified Public Accountant.

John Thomas, EVP, General Counsel & Corporate Secretary

John Thomas has been recognized in Best Lawyers in America from 2016-2022 for Intellectual Property law (litigation) and was named the Best Lawyers in America 2018 Trademark Lawyer of the Year–Pittsburgh, PA. He holds a B.S. in Chemistry from Indiana University of Pennsylvania and a J.D. from Duquesne Law, Cum Laude, where he served as an Associate Recent Decisions Editor of the Duquesne Law Review.

Laurent Goux, EVP, General Manager Europe

Laurent Goux leads Krystal's team in Europe. Before joining Krystal Biotech, he spent almost two decades in dermatology at Galderma, where he gained broad international experience. His leadership roles at Galderma included Global Head of Strategic Marketing and Market Access, Regional Director of Central and Eastern Europe, General Manager of Australia and NZ, and an international finance leader. Laurent graduated as a Chemical Engineer in Bordeaux and earned a Master's in Strategy and Management of International Business Management from ESSEC school in Paris.

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Here are the key risks to Krystal Biotech (KRYS):

Dependence on VYJUVEK Revenue and Commercialization Risk: Krystal Biotech's revenue is heavily reliant on its first approved gene therapy, VYJUVEK (beremagene geperpavec or B-VEC), for dystrophic epidermolysis bullosa (DEB). While VYJUVEK has received regulatory approval in the United States, Europe, and Japan, there is a significant risk that sales may not meet expectations due to unpredictable patient treatment patterns, pricing pressures, or reimbursement challenges. The company's financial performance largely hinges on sustaining and expanding the commercial success of this single product.
Pipeline Development and Regulatory Approval Risk for Other Candidates: Krystal Biotech is a biotechnology company with a robust pipeline of other investigational genetic medicines in various stages of development, including KB105, KB301, KB407, and KB104. The success of these candidates is uncertain, as drug development is a high-risk and capital-intensive process. There is a significant risk of failure at any stage of clinical trials or the inability to obtain necessary regulatory approvals for these pipeline products. For example, Krystal Biotech discontinued a Phase I/II study for intratumoral KB707 due to regulatory uncertainty following a similar product's rejection by the FDA. The market remains cautious about the company's ability to replicate VYJUVEK's success with its broader pipeline.

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For Krystal Biotech's main products and services, the addressable market sizes are as follows:

Beremagene geperpavec (B-VEC) for Dystrophic Epidermolysis Bullosa (DEB): The market size for Dystrophic Epidermolysis Bullosa treatment across the top 7 major markets (US, EU4, UK, and Japan) was valued at USD 589.9 million in 2024 and is projected to reach USD 2,128.8 million by 2035. The United States alone represented an estimated market size of approximately USD 400 million in 2023.
KB105 for Deficient Autosomal Recessive Congenital Ichthyosis (ARCI): The market size for Congenital Ichthyosis in the top 7 markets (US, EU4, UK, and Japan) reached USD 5.2 million in 2024 and is expected to reach USD 8.1 million by 2035. The United States held a significant share of the overall 7MM ARCI market in 2024.
KB301 for Wrinkles and other presentations of aged or damaged skin: The global facial aesthetics market size is projected to be valued at approximately US$17.15 billion in 2025 and is expected to reach US$37.5 billion by 2032. North America is anticipated to lead the global Aesthetic market landscape with 45.0% of total global market revenue in 2025. The U.S. aesthetic medicine market size was estimated at USD 37.94 billion in 2023 and is projected to grow to USD 167.13 billion by 2035.
KB407 for Cystic Fibrosis (CF): The global cystic fibrosis therapeutics market size is calculated at USD 11.81 billion in 2025 and is projected to reach around USD 44.72 billion by 2035. The Cystic Fibrosis Market Size in the 7MM (the US, France, Germany, Italy, Spain, the UK, and Canada) was approximately USD 18,743 million in 2023, with the US accounting for approximately USD 9,473 million. The global cystic fibrosis (CF) market is estimated around USD 13.70 billion in 2025 with consistent growth anticipated, projected to reach USD 97.52 billion by 2034.
KB104 for Netherton Syndrome: The Netherton Syndrome market in the 7MM (US, EU4, UK, and Japan) was valued at approximately USD 25 million in 2024. This market is projected to grow to USD 79.1 million by 2035 across the top 7 markets. In 2024, the United States accounted for an estimated market size of approximately USD 15 million for Netherton syndrome, representing nearly 65% of the total revenue generated across the 7MM.

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Krystal Biotech (KRYS) is poised for future revenue growth over the next two to three years, primarily driven by the continued commercial success of its lead product, VYJUVEK, and the strategic advancement of its gene therapy pipeline. The key drivers include: * **Continued U.S. Commercial Growth and Market Penetration of VYJUVEK**: Krystal Biotech anticipates sustained revenue growth from VYJUVEK (beremagene geperpavec) within the U.S. market. This growth is bolstered by continued patient adds and increased adoption, with net VYJUVEK revenue showing consistent increases. The updated U.S. label, which expands the eligible patient population to include dystrophic epidermolysis bullosa (DEB) patients from birth, further strengthens its long-term outlook and addressable market within the U.S.. Management also focuses on expanding into community settings in the U.S. to drive ongoing revenue growth. * **International Commercial Expansion of VYJUVEK**: International markets are projected to be a primary driver of revenue growth for Krystal Biotech in the coming years. The company has already initiated commercial launches of VYJUVEK in Europe, including Germany in late August 2025, and is expanding into other key international territories like France and Japan. Initial overseas markets are already contributing to total net product revenue, and management forecasts ex-U.S. markets as a primary revenue growth driver for 2026. * **Advancement and Potential Commercialization of Pipeline Candidates, notably KB407 for Cystic Fibrosis**: Beyond VYJUVEK, the progress of Krystal Biotech's gene therapy pipeline is expected to contribute to future revenue growth. Specifically, the clinical advancement of KB407 for cystic fibrosis is highlighted as strengthening the company's position and suggesting additional opportunities for growth. Positive Phase 1 data for KB407 in cystic fibrosis has de-risked inhaled delivery, increasing confidence in upcoming programs. Furthermore, Krystal aims to leverage its proprietary HSV-1 platform to address larger markets, including aesthetic and dermatological conditions, with candidates like KB301. Success in advancing these pipeline assets towards later-stage clinical trials and potential commercialization within the next 2-3 years will lay the groundwork for significant new revenue streams.

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Share Issuance

Krystal Biotech commenced a $100 million underwritten public offering of its common stock in February 2021.
The company also commenced a $200 million underwritten public offering of its common stock in November 2021.

Inbound Investments

Krystal Biotech raised $100 million through a public offering of common stock in February 2021.
An additional $200 million was raised through a public offering of common stock in November 2021.

Interactive Breakdown

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Better Bets vs. Krystal Biotech (KRYS)

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Latest Trefis Analyses

	Title	Date
0	DASHBOARDS
1	Krystal Biotech Earnings Notes	12/29/2026
2	Krystal Biotech Stock Jump Looks Great, But How Secure Is That Gain?	10/17/2025
3	Does Krystal Biotech Stock Lead the Pack?	08/13/2025
4	Why Krystal Biotech Stock Moved: KRYS Stock Has Gained 257% Since 2021 Fiscal End, Primarily Due To Favorable Change In Revenues	08/08/2025
5	KRYS Dip Buy Analysis	07/10/2025
6	Krystal Biotech (KRYS) Valuation Ratios Comparison	05/15/2025

	Title
0	ARTICLES

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POET	POET Technologies	1.7	-23.4%	87.4%
ADCT	ADC Therapeutics	0.2	-22.0%	-70.8%
DGXX	Digi Power X	0.4	-19.3%	136.9%
TE	T1 Energy	2.6	-19.1%	41.2%
FCEL	FuelCell Energy	0.8	-19.0%	137.1%
BLDP	Ballard Power Systems	1.5	-18.9%	93.7%
BRUN	Boost Run	1.4	-18.9%	39.0%
NVTS	Navitas Semiconductor	5.8	-18.2%	251.3%
CD	Chaince Digital	0.4	-18.1%	7.2%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
NVRI	Enviri	1.6	235.7%	288.7%
MRVL	Marvell Technology	226.8	28.5%	210.4%
MEC	Mayville Engineering	0.7	23.8%	77.6%
TMHC	Taylor Morrison Home	6.9	22.3%	21.5%
FLNC	Fluence Energy	3.0	21.3%	15.8%
GKOS	Glaukos	7.3	20.9%	10.7%
TWLO	Twilio	34.4	18.5%	58.9%
MMED	Minimed	4.0	18.2%	-23.0%
FTK	Flotek Industries	0.8	17.9%	36.5%
CDNL	Cardinal Infrastructure	0.9	16.5%	150.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
ADCT	ADC Therapeutics	0.2	-69.7%	-70.8%
FULC	Fulcrum Therapeutics	0.3	-46.7%	-67.4%
AVEX	AEVEX	1.1	-40.6%	-15.1%
PL	Planet Labs PBC	10.2	-37.0%	63.4%
CD	Chaince Digital	0.4	-35.2%	7.2%
VELO	Velo3D	0.3	-34.0%	15.4%
CELC	Celcuity	4.8	-33.6%	-11.5%
LUNR	Intuitive Machines	3.5	-33.0%	80.9%
CRCL	Circle Internet	19.6	-29.0%	1.2%
BKSY	BlackSky Technology	1.3	-28.3%	85.4%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
NVRI	Enviri	1.6	262.0%	288.7%
AGL	Agilon Health	1.6	247.8%	462.5%
HYLN	Hyliion	1.2	188.7%	275.0%
REPL	Replimune	0.9	175.3%	-2.6%
APPS	Digital Turbine	1.0	126.4%	80.2%
INOD	Innodata	3.3	119.2%	100.1%
SWMR	Swarmer	1.0	110.5%	96.0%
RXT	Rackspace Technology	1.1	107.3%	384.6%
RDW	Redwire	3.6	91.4%	142.8%
UMAC	Unusual Machines	1.0	87.2%	109.6%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
ADCT	ADC Therapeutics	0.2	-73.3%	-70.8%
VRRM	Verra Mobility	0.7	-69.9%	-80.8%
BTGO	BitGo	0.5	-60.3%	-74.5%
GTM	ZoomInfo Technologies	0.9	-54.2%	-70.7%
PSIX	Power Solutions International	0.9	-49.5%	-34.2%
FULC	Fulcrum Therapeutics	0.3	-48.1%	-67.4%
SHAK	Shake Shack	2.1	-45.8%	-35.5%
UI	Ubiquiti	34.3	-44.8%	2.8%
PAHC	Phibro Animal Health	1.3	-44.3%	-12.6%
PLAB	Photronics	1.7	-44.0%	-8.9%

Peer Comparisons

Peers to compare with:

Financials

	KRYS	VRTX	SRPT	RARE	CRSP	RGNX	Median
Name	Krystal .	Vertex P.	Sarepta .	Ultragen.	CRISPR T.	Regenxbio
Mkt Price	301.00	446.83	15.75	21.91	51.84	6.08	36.88
Mkt Cap	8.8	113.5	1.7	2.2	5.0	0.3	3.6
Rev LTM	417	12,218	2,184	670	1	88	544
Op Inc LTM	179	4,662	1	-561	-646	-257	-128
FCF LTM	237	3,710	108	-508	-426	-236	-64
FCF 3Y Avg	104	1,977	-414	-488	-301	-174	-238
CFO LTM	250	4,241	175	-497	-400	-234	-29
CFO 3Y Avg	114	2,401	-302	-465	-289	-170	-229

Growth & Margins

	KRYS	VRTX	SRPT	RARE	CRSP	RGNX	Median
Name	Krystal .	Vertex P.	Sarepta .	Ultragen.	CRISPR T.	Regenxbio
Rev Chg LTM	25.1%	10.1%	-2.2%	13.5%	-97.1%	-44.0%	3.9%
Rev Chg 3Y Avg	-	9.9%	33.6%	20.7%	-5.0%	5.3%	9.9%
Rev Chg Q	31.9%	7.8%	-1.9%	-2.2%	-	-92.8%	-1.9%
QoQ Delta Rev Chg LTM	7.2%	1.8%	-0.6%	-0.4%	-	-48.5%	-0.4%
Op Inc Chg LTM	33.6%	1,214.0%	100.9%	-9.2%	-36.3%	-63.1%	12.2%
Op Inc Chg 3Y Avg	145.0%	364.1%	53.7%	5.1%	-16.1%	-8.4%	29.4%
Op Mgn LTM	42.8%	38.2%	0.0%	-83.8%	-64,639.5%	-292.3%	-41.9%
Op Mgn 3Y Avg	8.5%	24.1%	-4.0%	-100.7%	-22,035.2%	-232.3%	-52.3%
QoQ Delta Op Mgn LTM	1.4%	0.2%	30.0%	-4.2%	-	-197.7%	0.2%
CFO/Rev LTM	60.0%	34.7%	8.0%	-74.2%	-39,996.4%	-266.2%	-33.1%
CFO/Rev 3Y Avg	17.6%	21.5%	-18.2%	-85.1%	-13,643.7%	-180.8%	-51.6%
FCF/Rev LTM	56.9%	30.4%	5.0%	-75.9%	-42,617.6%	-269.2%	-35.4%
FCF/Rev 3Y Avg	13.0%	17.7%	-24.3%	-89.6%	-14,519.9%	-184.6%	-56.9%

Valuation

	KRYS	VRTX	SRPT	RARE	CRSP	RGNX	Median
Name	Krystal .	Vertex P.	Sarepta .	Ultragen.	CRISPR T.	Regenxbio
Mkt Cap	8.8	113.5	1.7	2.2	5.0	0.3	3.6
P/S	21.1	9.3	0.8	3.3	4,979.3	3.6	6.5
P/Op Inc	49.3	24.4	1,579.3	-3.9	-7.7	-1.2	11.6
P/EBIT	49.3	22.4	20.7	-4.1	-7.7	-1.3	9.7
P/E	39.2	26.2	25.4	-3.6	-8.8	-1.1	12.2
P/CFO	35.2	26.8	9.4	-4.4	-12.4	-1.4	4.0
Total Yield	2.6%	3.8%	3.9%	-27.6%	-11.4%	-91.0%	-4.4%
Dividend Yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
FCF Yield 3Y Avg	1.5%	1.8%	-4.0%	-16.6%	-7.6%	-32.7%	-5.8%
D/E	0.0	0.0	0.6	0.0	0.2	0.2	0.1
Net D/E	-0.1	-0.0	0.2	-0.2	-0.3	-0.2	-0.1

Returns

	KRYS	VRTX	SRPT	RARE	CRSP	RGNX	Median
Name	Krystal .	Vertex P.	Sarepta .	Ultragen.	CRISPR T.	Regenxbio
1M Rtn	-1.5%	4.0%	-21.1%	-16.1%	-5.5%	-42.4%	-10.8%
3M Rtn	18.6%	-2.2%	-5.7%	3.1%	-8.2%	-29.7%	-4.0%
6M Rtn	28.6%	-1.9%	-29.2%	-39.8%	-8.9%	-53.8%	-19.1%
12M Rtn	119.8%	-0.8%	-63.4%	-41.0%	23.8%	-36.7%	-18.8%
3Y Rtn	135.2%	34.4%	-87.5%	-57.5%	-17.2%	-70.0%	-37.3%
1M Excs Rtn	3.9%	4.2%	-31.9%	-15.8%	-6.1%	-40.8%	-10.9%
3M Excs Rtn	9.1%	-11.7%	-15.3%	-6.4%	-17.8%	-39.3%	-13.5%
6M Excs Rtn	30.6%	-11.3%	-35.7%	-47.7%	-15.2%	-60.6%	-25.4%
12M Excs Rtn	104.3%	-23.4%	-83.8%	-63.8%	12.6%	-63.3%	-43.4%
3Y Excs Rtn	78.8%	-38.6%	-163.9%	-132.3%	-95.7%	-141.4%	-114.0%

Comparison Analyses

	Title
0	Does Krystal Biotech Stock Lead the Pack?

FDIC Bank Data

Bank Capital

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Bank Deposits

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Bank Assets

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Bank Loans

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FDA Approved Drugs Data

Expand for Morenull

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2025	2024	2023	2022	2021	2020
Period End	3/31/2026	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020
Filing Date	5/4/2026	2/17/2026	2/19/2025	2/26/2024	2/27/2023	2/28/2022	3/1/2021
Key Financials
Total Revenue	417	389	291	51	0	0	0
Gross Profit	393	366	270	48	0	0	-
EBITDA	185	168	110	-91	-117	-66	-30
Operating Income	179	161	103	-97	-120	-68	-33
Net Income	225	205	89	11	-140	-70	-32
EPS	7.75	7.08	3.12	0.40	-5.49	-3.13	-1.71
Growth Rates
Total Revenue Growth	25.1%	33.9%	473.0%	∞%	-	-	-
EBITDA Growth	32.0%	52.6%	220.6%	21.9%	-76.4%	-118.5%	-44.4%
Operating Income Growth	33.6%	56.2%	206.3%	19.2%	-76.0%	-106.9%	-49.4%
Net Income Growth	81.5%	129.7%	715.6%	107.8%	-101.2%	-116.3%	-68.5%
Margins
Gross Margin	94.2%	94.1%	93.1%	93.9%	-	-	-
EBITDA Margin	44.4%	43.1%	37.9%	-179.9%	-	-	-
Operating Income Margin	42.8%	41.5%	35.5%	-191.6%	-	-	-
Net Income Margin	53.9%	52.6%	30.7%	21.6%	-	-	-
Cash & Debt
Total Cash	823	828	598	532	379	438	271
Total Debt	9	9	7	8	9	8	12
Net Debt / (Cash)	-814	-818	-590	-524	-370	-430	-260
Cash Flows & CapEx
Net Cash from Operations	250	201	123	-89	-101	-48	-26
Total CapEx	-13	-12	-4	-12	-53	-68	-15
Free Cash from Operations	237	189	119	-101	-154	-116	-41
Returns to Shareholders
Dividends	0	-0	-0	-0	-0	-0	-0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0

$ Mil \| FY: 12/31	2026Q1	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2
Period End	3/31/2026	12/31/2025	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023
Filing Date	5/4/2026	2/17/2026	11/3/2025	8/4/2025	5/6/2025	2/19/2025	11/4/2024	8/5/2024	5/6/2024	2/26/2024	11/6/2023	8/7/2023
Key Financials Quarterly
Total Revenue	116	107	98	96	88	91	84	70	45	42	9	0
Ebitda	55	46	43	41	38	43	37	23	7	5	-25	-37
Operating Income	54	44	41	39	36	41	35	21	6	3	-26	-38
Net Income	56	51	79	38	36	45	27	16	1	9	81	-33
EPS	1.91	1.77	2.74	1.33	1.24	1.58	0.95	0.54	0.03	0.32	2.88	-1.25
Key Financials TTM
Total Revenue TTM	417	389	373	359	333	291	242	166	96	51	9	0
Ebitda TTM	185	168	165	158	140	110	72	11	-49	-91	-131	-136
Operating Income TTM	179	161	158	152	134	103	65	4	-55	-97	-135	-141
Net Income TTM	225	205	199	147	124	89	52	106	57	11	-30	-140
Growth Rates Quarterly
Total Revenue Growth	31.9%	17.5%	16.6%	36.6%	94.9%	116.3%	879.9%	-	-	-	-	-
EBITDA Growth	46.3%	7.2%	17.8%	76.9%	410.2%	757.7%	248.2%	163.1%	121.2%	114.6%	19.2%	-31.7%
Operating Income Growth	48.1%	7.0%	18.3%	86.6%	523.3%	1173.9%	234.5%	155.4%	116.0%	109.3%	17.4%	-32.3%
Net Income Growth	56.5%	13.0%	192.0%	146.2%	3734.0%	423.2%	-66.3%	146.9%	102.1%	127.1%	370.5%	-18.2%
Margins Quarterly
EBITDA Margin	47.6%	43.0%	44.0%	42.5%	43.0%	47.1%	43.5%	32.8%	16.4%	11.9%	-287.8%	-
Operating Income Margin	46.1%	41.3%	42.3%	40.9%	41.1%	45.4%	41.7%	30.0%	12.9%	7.7%	-303.8%	-
Net Income Margin	48.1%	48.0%	81.2%	39.9%	40.5%	49.9%	32.4%	22.2%	2.1%	20.6%	943.7%	-
Cash & Debt
Total Cash	823	828	731	682	617	598	588	560	538	532	562	478
Total Debt	9	9	10	10	10	7	7	8	8	8	8	9
Net Debt / (Cash)	-814	-818	-722	-672	-607	-590	-581	-552	-530	-524	-554	-469
Cash Flows Quarterly
FCF from Operations	80	78	40	53	31	53	59	-4	16	-7	-21	-34
Cash Flows TTM
FCF from Operations TTM	250	201	176	195	139	123	63	-17	-47	-89	-104	-102
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	51.1%	47.0%	37.3%	27.1%	22.7%	28.8%	24.0%	15.1%	4.3%	2.0%	-21.6%	-28.0%
Return on Invested Capital (ROIC) TTM
ROIC TTM	46.7%	42.8%	35.7%	27.8%	23.0%	18.0%	11.2%	0.7%	-9.9%	-18.5%	-28.1%	-25.9%

Segment Financials

Revenue by Segment

$ Mil	2025	2024	2023	2022	2021
Product revenue, net	291	51
Total	291	51

Assets by Segment

$ Mil	2025	2024	2023	2022	2021
Single Segment			558	626	311
Total			558	626	311

Price Behavior

Price Behavior

Market Price	$301.00
Market Cap ($ Bil)	8.8
First Trading Date	09/20/2017
Distance from 52W High	-4.8%
	50 Days	200 Days
DMA Price	$282.24	$236.34
DMA Trend	up	up
Distance from DMA	6.6%	27.4%
	3M	1YR
Volatility	35.9%	39.1%
Downside Capture	85.07	57.67
Upside Capture	118.29	138.02
Correlation (SPY)	44.5%	29.3%

KRYS Betas & Captures as of 5/31/2026

	1M	2M	3M	6M	1Y	3Y
Beta	0.82	0.90	1.15	1.12	0.97	0.97
Up Beta	1.26	0.65	1.26	0.96	0.74	0.90
Down Beta	1.57	0.86	1.26	1.07	0.92	0.86
Up Capture	172%	118%	110%	166%	188%	151%
Bmk +ve Days	13	28	36	67	141	432
Stock +ve Days	14	28	38	67	143	404
Down Capture	-115%	106%	106%	90%	67%	100%
Bmk -ve Days	7	13	27	57	109	318
Stock -ve Days	6	13	25	57	106	346

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with KRYS
KRYS	131.4%	39.0%	2.25	-
Sector ETF (XLV)	16.9%	15.0%	0.83	24.8%
Equity (SPY)	25.3%	12.1%	1.57	29.4%
Gold (GLD)	27.6%	26.9%	0.88	8.3%
Commodities (DBC)	36.9%	19.0%	1.52	-16.3%
Real Estate (VNQ)	12.5%	13.3%	0.63	24.9%
Bitcoin (BTCUSD)	-42.0%	42.5%	-1.16	19.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with KRYS
KRYS	36.1%	76.4%	0.65	-
Sector ETF (XLV)	6.1%	14.7%	0.23	24.0%
Equity (SPY)	13.5%	17.1%	0.62	28.6%
Gold (GLD)	17.3%	18.1%	0.78	2.6%
Commodities (DBC)	9.5%	19.4%	0.38	1.4%
Real Estate (VNQ)	3.2%	18.8%	0.07	23.0%
Bitcoin (BTCUSD)	11.3%	54.6%	0.40	18.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 10-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with KRYS
KRYS	39.9%	74.2%	0.80	-
Sector ETF (XLV)	9.9%	16.6%	0.48	28.9%
Equity (SPY)	15.3%	17.9%	0.73	32.2%
Gold (GLD)	13.0%	16.0%	0.67	2.6%
Commodities (DBC)	7.1%	18.0%	0.32	7.4%
Real Estate (VNQ)	5.6%	20.7%	0.24	25.9%
Bitcoin (BTCUSD)	63.3%	66.9%	1.03	14.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date	5152026
Short Interest: Shares Quantity	3.2 Mil
Short Interest: % Change Since 4302026	2.8%
Average Daily Volume	0.4 Mil
Days-to-Cover Short Interest	8.0 days
Basic Shares Quantity	29.3 Mil
Short % of Basic Shares	10.9%

Returns Analyses

	Title
0	Krystal Biotech Stock Jump Looks Great, But How Secure Is That Gain?

Earnings Returns History

Updated 6/3/2026

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
1/12/2026	4.1%	9.0%	3.6%
8/4/2025	-14.0%	-11.7%	-5.1%
5/6/2025	-14.1%	-14.1%	-18.6%
11/4/2024	-3.1%	13.2%	5.4%
8/5/2024	-5.9%	-5.1%	-2.7%
5/6/2024	-2.6%	-3.9%	-0.0%
2/26/2024	41.0%	50.7%	52.2%
11/6/2023	-15.0%	-19.3%	-14.8%
...
SUMMARY STATS
# Positive	9	8	10
# Negative	12	13	11
Median Positive	4.0%	7.9%	20.3%
Median Negative	-5.7%	-5.9%	-5.1%
Max Positive	41.0%	50.7%	55.2%
Max Negative	-15.0%	-19.3%	-18.6%

	Forward Returns
1/12/2026	4.1%	9.0%	3.6%
8/4/2025	-14.0%	-11.7%	-5.1%
5/6/2025	-14.1%	-14.1%	-18.6%
11/4/2024	-3.1%	13.2%	5.4%
8/5/2024	-5.9%	-5.1%	-2.7%
5/6/2024	-2.6%	-3.9%	-0.0%
2/26/2024	41.0%	50.7%	52.2%
11/6/2023	-15.0%	-19.3%	-14.8%
8/7/2023	-12.6%	-4.2%	-0.1%
5/8/2023	4.0%	4.7%	49.0%
2/27/2023	-0.4%	0.7%	1.4%
11/7/2022	1.1%	-1.0%	-4.7%
8/8/2022	-5.6%	-5.9%	-17.4%
5/9/2022	8.6%	15.1%	31.6%
2/28/2022	0.9%	-12.1%	8.1%
11/8/2021	-3.2%	-3.3%	55.2%
8/9/2021	-2.5%	-10.7%	-4.1%
5/10/2021	-6.9%	-4.0%	-7.8%
3/1/2021	8.3%	-7.8%	-12.3%
11/9/2020	3.1%	3.1%	36.4%
8/10/2020	3.2%	6.7%	9.0%
SUMMARY STATS
# Positive	9	8	10
# Negative	12	13	11
Median Positive	4.0%	7.9%	20.3%
Median Negative	-5.7%	-5.9%	-5.1%
Max Positive	41.0%	50.7%	55.2%
Max Negative	-15.0%	-19.3%	-18.6%

SEC Filings

Expand for More

Report Date	Filing Date	Filing
03/31/2026	05/04/2026	10-Q
12/31/2025	02/17/2026	10-K
09/30/2025	11/03/2025	10-Q
06/30/2025	08/04/2025	10-Q
03/31/2025	05/06/2025	10-Q
12/31/2024	02/19/2025	10-K
09/30/2024	11/04/2024	10-Q
06/30/2024	08/05/2024	10-Q
03/31/2024	05/06/2024	10-Q
12/31/2023	02/26/2024	10-K
09/30/2023	11/06/2023	10-Q
06/30/2023	08/07/2023	10-Q
03/31/2023	05/08/2023	10-Q
12/31/2022	02/27/2023	10-K
09/30/2022	11/07/2022	10-Q
06/30/2022	08/08/2022	10-Q

Recent Forward Guidance

Updated 6/1/2026

Latest: Q4 2025 Earnings Reported 1/12/2026

Forward Guidance				Guidance Change
Metric	Low	Mid	High	% Chg	% Delta	Change	Prior
2026 Combined non-GAAP R&D and SG&A expense	175.00 Mil	185.00 Mil	195.00 Mil	13.8%		Raised	Guidance: 162.50 Mil for 2025

Prior: Q2 2025 Earnings Reported 8/4/2025

Forward Guidance				Guidance Change
Metric	Low	Mid	High	% Chg	% Delta	Change	Prior
2025 Non-GAAP R&D and SG&A expense	150.00 Mil	162.50 Mil	175.00 Mil	0		Affirmed	Guidance: 162.50 Mil for 2025

Insider Activity

Updated 6/8/2026

Expand for More

#	Owner	Title	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Krishnan, Suma	President, R&D	Direct	Sell	6052026	308.11	25,000	7,702,825	424,627,484	Form
2	Krishnan, Krish S	President and CEO	Direct	Sell	6052026	308.12	25,000	7,702,984	446,851,016	Form
3	Thomas, John Charles	EVP, General Counsel	Direct	Sell	5272026	302.03	642			Form
4	Krishnan, Suma	President, R&D	Direct	Sell	3062026	263.21	25,000	6,580,270	369,325,573	Form
5	Krishnan, Krish S	President and CEO	Direct	Sell	3062026	263.17	25,000	6,579,164	388,237,277	Form

Collapse to Preview

#	Owner	Title	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Krishnan, Suma	President, R&D	Direct	Sell	6052026	308.11	25,000	7,702,825	424,627,484	Form
2	Krishnan, Krish S	President and CEO	Direct	Sell	6052026	308.12	25,000	7,702,984	446,851,016	Form
3	Thomas, John Charles	EVP, General Counsel	Direct	Sell	5272026	302.03	642			Form
4	Krishnan, Suma	President, R&D	Direct	Sell	3062026	263.21	25,000	6,580,270	369,325,573	Form
5	Krishnan, Krish S	President and CEO	Direct	Sell	3062026	263.17	25,000	6,579,164	388,237,277	Form
6	Romano, Kathryn	Chief Accounting Officer	Direct	Sell	3032026	267.60	750	200,700	5,985,142	Form
7	Janney, Daniel		Directly beneficially owned by Alta Bioequities, L.P.	Sell	3032026	275.59	11,803	3,252,824	20,199,039	Form
8	Janney, Daniel		Directly beneficially owned by Alta Bioequities, L.P.	Sell	2262026	275.63	7,741	2,133,679	23,455,314	Form
9	Janney, Daniel		Directly beneficially owned by Alta Bioequities, L.P.	Sell	2262026	275.00	700	192,500	25,530,175	Form
10	Janney, Daniel		Direct	Sell	2262026	266.88	37,895			Form
11	Janney, Daniel		Directly beneficially owned by Alta Bioequities, L.P.	Sell	2262026	268.34	13,825	3,709,850	25,100,053	Form
12	Rossi, Dino A		Direct	Sell	2232026	261.41	18,950	4,953,694	20,570,509	Form
13	Romano, Kathryn	Chief Accounting Officer	Direct	Sell	2112026	272.14	12,500	3,401,705	5,257,131	Form
14	Krishnan, Suma	President, R&D	Direct	Sell	12052025	220.16	25,000	5,503,938	311,239,112	Form
15	Krishnan, Suma	President, R&D	Spouse	Sell	12052025	220.14	25,000	5,503,395	326,473,707	Form
16	Krishnan, Krish S	President and CEO	Direct	Sell	12052025	220.14	25,000	5,503,509	326,480,461	Form
17	Krishnan, Krish S	President and CEO	Spouse	Sell	12052025	220.16	25,000	5,503,938	311,239,112	Form
18	Krishnan, Suma	President, R&D	Direct	Sell	7162025	150.00	1,529	229,350	215,806,650	Form
19	Krishnan, Suma	President, R&D	Spouse	Sell	7162025	150.00	1,389	208,350	226,208,400	Form
20	Krishnan, Krish S	President and CEO	Direct	Sell	7162025	150.00	1,389	208,350	226,208,400	Form
21	Krishnan, Krish S	President and CEO	Spouse	Sell	7162025	150.00	1,529	229,350	215,806,650	Form
22	Krishnan, Suma	President, R&D	Direct	Sell	7162025	150.98	3,036	458,361	217,440,756	Form
23	Krishnan, Suma	President, R&D	Spouse	Sell	7162025	151.01	3,084	465,700	227,933,944	Form
24	Krishnan, Krish S	President and CEO	Direct	Sell	7162025	151.01	3,084	465,700	227,933,944	Form
25	Krishnan, Krish S	President and CEO	Spouse	Sell	7162025	150.98	3,036	458,361	217,440,756	Form
26	Krishnan, Suma	President, R&D	Direct	Sell	7162025	150.30	13,435	2,019,225	216,918,437	Form
27	Krishnan, Suma	President, R&D	Spouse	Sell	7162025	150.30	13,400	2,014,015	227,332,504	Form
28	Krishnan, Krish S	President and CEO	Direct	Sell	7162025	150.30	13,400	2,014,015	227,332,504	Form
29	Krishnan, Krish S	President and CEO	Spouse	Sell	7162025	150.30	13,435	2,019,225	216,918,437	Form
30	Krishnan, Suma	President, R&D	Direct	Sell	7112025	150.28	6,800	1,021,880	218,909,347	Form
31	Krishnan, Suma	President, R&D	Spouse	Sell	7112025	150.27	6,927	1,040,913	229,299,821	Form
32	Krishnan, Krish S	President and CEO	Direct	Sell	7112025	150.27	6,927	1,040,913	229,299,821	Form
33	Krishnan, Krish S	President and CEO	Spouse	Sell	7112025	150.28	6,800	1,021,880	218,909,347	Form
34	Krishnan, Suma	President, R&D	Direct	Sell	7112025	150.14	200	30,028	219,730,078	Form
35	Krishnan, Suma	President, R&D	Spouse	Sell	7112025	150.07	200	30,014	230,035,700	Form
36	Krishnan, Krish S	President and CEO	Direct	Sell	7112025	150.07	200	30,014	230,035,700	Form
37	Krishnan, Krish S	President and CEO	Spouse	Sell	7112025	150.14	200	30,028	219,730,078	Form

KRYS Trade Sentinel

Stock Conviction

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CONVICTION RATIONALE

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STOCK ARCHETYPE

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Looking for high-conviction positions with a better risk/reward profile? See what's currently in the Trefis High Quality Portfolio.

INVESTMENT THESIS

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Mechanism: null

Supporting Evidence:

PRIMARY RISK

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Mechanism: null

Supporting Evidence:

Key KPI Watchlist

KPI	Threshold	Rationale

Core Investment Debate

BULL VIEW

CORE TENSION

PREVAILING SENTIMENT

BEAR VIEW

Next 6 months: Risks and Catalysts

Timeline	Event & Metric To Watch

Key Events in Last 6 Months

Date	Event	Stock Impact

Risk Management

Position Sizing

Diversification Alternatives

How Is The Market Pricing KRYS?

What will confirm the thesis

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Noise: Real but irrelevant to thesis

Repricing Catalyst

What KRYS Makes & Who Pays

TTM figures based on

KRYS Evolution: Price Return by Era

① Structure

② Volume / Momentum

③ Catalyst

Combined Score

0 / 12

1 Price Structure & Trend · ▾

2 Momentum ▾

3 Relative Strength vs. SPY ▾

4 Institutional Footprint & Volume ▾

5 Volatility ▾

6 Key Price Levels Range · Vol ▾

7 Earnings Reaction History ▾

8 How the Verdict Is Derived Three Pillars ▾

Pillar	Score
① Structure	0
② Vol / Mom	0
③ Catalyst	0

ℹ Bull Pillars: 0 · Bear Pillars: 0 · Combined Score: 0 →

Industry Resources

Health Care Resources

U.S. National Library of Medicine

Health Data Management

FDA Tracker

Biotechnology Resources

Fierce Biotech

Nature Biotechnology

Genetic Engineering & Biotechnology News

Biotechnology Innovation Organization

BioWorld

BioTechniques

HBS Biotechnology Publications

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

Prefer one of these to Trefis? Tell us why.

Core Cache Last Updated: 6/7/2026

Krystal Biotech (KRYS)

Market Price (6/8/2026): $301.5 | Market Cap: $8.8 BilSector: Health Care | Industry: Biotechnology

Krystal Biotech (KRYS)

Market Price (6/8/2026): $301.5Market Cap: $8.8 BilSector: Health CareIndustry: Biotechnology

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

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KRYS Trade Sentinel

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CONVICTION RATIONALE

STOCK ARCHETYPE

INVESTMENT THESIS

PRIMARY RISK

BULL VIEW

CORE TENSION

PREVAILING SENTIMENT

BEAR VIEW

Position Sizing

Diversification Alternatives

Repricing Catalyst

Market Price (6/8/2026): $301.5
Market Cap: $8.8 Bil
Sector: Health Care
Industry: Biotechnology