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Buy Day today: Good (62) Broad market participation · no major macro event
KRYS

Krystal Biotech Inc

Healthcare · Biotechnology · listed since 2017

338.80$ +0.6% vs. previous close Closing price · As of: Sep 17, 2026
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Price history

Chart

Interactive price chart (TradingView).

52-week range: 154.10 $ to 378.20 $ · Last price: 338.80 $ (As of: September 17, 2026)

Key figures

Key figures at a glance

Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.

Basics

Market Cap ?The value of the entire company on the market: share price times total shares outstanding. 10.1$B
Shares Outstanding ?Total number of shares issued. Price times share count gives market cap. 30m
Float ?Share of stock freely tradable on the market — not locked up in the hands of founders, insiders, or major shareholders. 79.8%
Beta ?Volatility versus the overall market: 1 = moves like the market, 2 = twice as much, under 1 = calmer than the market. 0.5

Performance

Perf. 1M ?Price performance over the last month. 21.90%
Perf. 3M ?Price performance over the last 3 months. 54.10%
Perf. 6M ?Price performance over the last 6 months. 50.50%
YTD Performance (%) ?Price performance since the start of the year (Year to Date). 38.00%
52-Week-High Distance ?How far the price sits below its highest point over the last 52 weeks. 0% means the stock is at its year high. -0.7%
Perf. 1Y ?Price performance over the last 12 months. 119.90%
Perf. 3Y ?Price performance over the last 3 years. 181.89%
Perf. 5Y ?Price performance over the last 5 years. 472.31%
Perf. Since Inception ?Price performance since the first available trading day (09/20/2017) — with a complete history, that is since the IPO. 3,083.74%

Technical Indicators

MA 38 Days ?Moving average of the last 38 trading days: the smoothed price path. A price above it signals short-term strength. 344.20$
MA 50 Days ?Moving average of the last 50 trading days — the most widely watched medium-term trend line. 344.90$
MA 200 Days ?Moving average of the last 200 trading days — the dividing line between a long-term uptrend and downtrend. 295.60$
RSI (14) ?Relative Strength Index over 14 days, scale 0 to 100: above 70 counts as overbought, below 30 as oversold. A hint on timing, not a verdict on the company. 44.5
Volatility 30 Days ?Price swings over the last 30 trading days, annualized. The higher the value, the more the price fluctuates. 28.2%
Volatility 250 Days ?Price swings over the last 250 trading days (roughly one market year), annualized. 37.9%

Calculated from the price history · as of 09/18/2026

Valuation

P/E ?Price-to-earnings ratio: how many years of profit does the stock cost? The lower, the cheaper the valuation. No earnings means no P/E. 46.7
Forward P/E ?P/E based on expected earnings for the next 12 months instead of past earnings — analysts' bet on the future. 46.7
PEG ?P/E divided by expected earnings growth: puts valuation in relation to growth. Around 1 is considered fair, well above that is pricey.
P/B ?Price-to-book ratio: market value relative to book equity. 7.9
P/S ?Price-to-sales ratio: market value divided by annual sales. Important for companies that aren't (yet) profitable. 23.0
EV/EBITDA ?Enterprise value including debt (EV) relative to operating profit before depreciation and amortization (EBITDA) — more comparable than P/E because debt counts too. Extreme values arise when EBITDA is near zero. 45.1
Price/FCF ?Market value divided by free cash flow: how many years of freely available cash does the stock cost? More honest than P/E because cash flow is harder to dress up. 39.3

Profitability

Gross Margin ?Gross margin: what's left of sales after only direct production costs are deducted — the product's pricing power. 94.6%
EBIT Margin ?EBIT margin: operating profit as a percentage of sales — the earning power of the core business before interest and taxes. 46.1%
Net Margin ?Net margin: what's left of sales as profit after ALL costs, interest, and taxes. 54.8%
Return on Equity ?Return on equity: how much profit does the company generate per year on shareholders' equity? 19.9%
Return on Assets ?Return on assets: how much profit the company generates from its total assets (equity and debt combined). 9.4%

Balance Sheet & Safety

Equity Ratio ?Equity ratio: equity as a share of total assets. The higher, the more resilient the balance sheet. 91.4%
Debt/Equity ?Leverage ratio: financial debt divided by equity. Under 1 is generally seen as solid; negative values mean negative equity. 0.01
Altman Z″ ?Edward Altman's bankruptcy early-warning score. We use the Z″ variant, built from four balance-sheet ratios — it is designed for service companies and non-manufacturers and uses book value instead of market value. On that scale: below 1.1 = danger zone, 2.6 and up = safe zone, in between a grey area. Because the classic Altman Z is calculated differently, the two numbers are not directly comparable. The formula does not fit banks, insurers, or real-estate stocks. fortress balance sheet 19.80
Piotroski ?Balance-sheet health check by Joseph Piotroski: 9 yes/no criteria on profit, cash flow, leverage, and efficiency. 7+ is very solid, under 3 is a red flag. 7 out of 9

Growth

Sales Growth Last Quarter ?Sales growth in the most recently reported quarter versus the same quarter a year ago (YoY). 31.90%
EPS Growth Last Quarter ?Growth in earnings per share in the most recently reported quarter versus the same quarter a year ago (YoY). 52.50%
Sales Growth (Year) ?Sales growth in the last fiscal year versus the year before. 33.94%
Forward Sales Growth ?Sales growth analysts expect over the next 12 months — an estimate, not a guarantee. 29.01%
Forward EPS Growth ?Earnings-per-share growth analysts expect over the next 12 months — an estimate, not a guarantee. 21.50%

Dividend

This stock currently pays no dividend.

Quality & Screener

Stage ?Weinstein phases 1 through 4: 1 = basing, 2 = uptrend (the only buy phase), 3 = topping, 4 = downtrend. Measured against the 30-week line. 2
RS Rating ?Relative strength from 1 to 99: an RS of 95 means the stock has outperformed 95% of all stocks. Top 10% 91
EPS Rating ?Earnings growth rating from 1 to 99 versus all stocks — high values mean above-average earnings growth. 78
Fundamental Rating ?Our own Fundamental Rating: 0 to 100 points with an A+ to F grade. 50 points is the average across the universe, 100 the best possible score. It scores growth, earnings surprises, analyst estimates, margins, cash flow, and balance-sheet safety — every stock percentile-ranked against all others. Grades: A+ from 95, A from 75, B from 55, C from 45, D from 25, E from 5, F below. A (79 out of 100)

Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.

Comparison

Industry comparison

The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.

Industry: Biotechnology

Industry comparison
Company Market cap ($B) P/E EV/EBITDA Gross Margin % EBIT Margin % Sales Growth (Year) % Perf. 1Y %
Krystal Biotech Inc KRYS 10.1 46.7 45.1 94.6 46.1 33.9 119.9
Vertex Pharmaceuticals Inc VRTX 130.6 31.3 24.5 55.0 38.1 9.6 33.4
Regeneron Pharmaceuticals Inc REGN 82.0 19.9 13.1 44.5 20.7 1.0 35.5
Moderna Inc MRNA 62.7 4.6 -66.0 -131.1 -39.2 532.3
argenx NV ARGX 61.9 38.1 34.2 59.1 32.0 89.6 30.9
Revolution Medicines Inc RVMD 40.9 -9.7 -174,708.6 0.0 -100.0 338.3
BeiGene, Ltd. ONC 40.0 63.1 34.1 88.9 19.1 40.2 6.4
Alnylam Pharmaceuticals Inc ALNY 32.6 61.8 28.4 79.7 23.0 65.2 -48.1
Royalty Pharma Plc RPRX 32.5 31.8 19.6 95.8 100.3 5.1 68.6
Median of companies shown 40.9 38.1 24.5 59.1 23.0 9.6 35.5

Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →

Fiscal years

Annual Figures

Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.

Revenue, operating income and net income per fiscal year $M

Revenue Operating income Net income

2016 · Revenue: 0 $M 2016 · Operating income: -1 $M 2016 · Net income: -1 $M 2017 · Revenue: 0 $M 2017 · Operating income: -5 $M 2017 · Net income: -8 $M 2018 · Revenue: 1 $M 2018 · Operating income: -12 $M 2018 · Net income: -11 $M 2019 · Revenue: 0 $M 2019 · Operating income: -22 $M 2019 · Net income: -19 $M 2020 · Revenue: 0 $M 2020 · Operating income: -33 $M 2020 · Net income: -32 $M 2021 · Revenue: 0 $M 2021 · Operating income: -68 $M 2021 · Net income: -70 $M 2022 · Revenue: 0 $M 2022 · Operating income: -145 $M 2022 · Net income: -140 $M 2023 · Revenue: 51 $M 2023 · Operating income: -110 $M 2023 · Net income: 11 $M 2024 · Revenue: 291 $M 2024 · Operating income: 66 $M 2024 · Net income: 89 $M 2025 · Revenue: 389 $M 2025 · Operating income: 161 $M 2025 · Net income: 205 $M
2016201720182019202020212022202320242025
Annual Figures
Fiscal Year Revenue ($M) EBIT ($M) Net Income ($M) EPS ($) Operating Cash Flow ($M) Equity ($M) Total Assets ($M)
2016 0 -1 -1 -0.27 -1 0 2
2017 0 -5 -8 -1.48 -4 49 50
2018 1 -12 -11 -0.97 -9 113 116
2019 0 -22 -19 -1.20 -19 203 209
2020 0 -33 -32 -1.71 -26 292 311
2021 0 -68 -70 -3.13 -48 594 626
2022 0 -145 -140 -5.49 -101 522 558
2023 51 -110 11 0.39 -89 779 818
2024 291 66 89 3.00 123 946 1,056
2025 389 161 205 6.84 201 1,220 1,334

Quarters

Quarterly Figures

Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.

Revenue & Profit

Cash Flow

Balance Sheet

Margins

Per Share

Click the chart or tab into it, then use ← and → to step through the periods.

None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.

These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.

The figures could not be loaded right now.

Sales Per Quarter ($M)
2024: Q4 · 91.1 $M Q4 2025: Q1 · 88.2 $M Q1 2025: Q2 · 96.0 $M Q2 2025: Q3 · 97.8 $M Q3 2025: Q4 · 107.1 $M Q4 2026: Q1 · 116.4 $M Q1 2026: Q2 · 119.2 $M Q2

Source: fundamental data

Quarterly Figures
Quarter EPS (Earnings Per Share) EPS YoY (%) Sales ($M) Sales YoY (%) Net Margin (%) OCF ($M) FCF ($M)
2024: Q4 1.52 404.60 91 116.30 49.90 53 52
2025: Q1 1.20 3,659.60 88 94.90 40.50 31 25
2025: Q2 1.29 145.30 96 36.60 39.90 53 51
2025: Q3 2.66 192.70 98 16.60 81.20 40 38
2025: Q4 1.72 12.80 107 17.50 48.00 78 75
2026: Q1 1.83 53.30 116 31.90 48.10 80 73
2026: Q2 1.79 38.80 119 24.20 46.00 75 71

What Do These Terms Mean?

EPS (Earnings Per Share):
Quarterly profit divided by the total share count — how much of the profit works out to a single share.
YoY (Year over Year):
Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
Sales:
All revenue for the quarter, before any costs are deducted — the top line of the income statement.
Net Margin:
What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
OCF (Operating Cash Flow):
The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
FCF (Free Cash Flow):
Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.

Compare with other stocks →

Screening

Appears in These Scanners

This stock currently matches 23 of our scanner strategies — each hit links to the scanner.

Backtested Scanners

Growth

Quality & Balance Sheet

Breakout & Setup

Momentum & Trend

Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners

Outlook

Analysts & Price Target

Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.

Consensus Strong Sell 1 = Strong buy … 5 = Strong sell
Analyst Ratings 11
Price Target (average) 385.00$
Distance to price 13.6% The price target sits 13.6% above the current price.

Distribution of Recommendations

Strong Buy 8
Buy 2
Hold 1
Sell 0
Strong Sell 0

Estimates by Fiscal Year

Estimates by Fiscal Year
Fiscal Year EPS Estimate ($) EPS Range ($) Revenue Estimate ($M) Expected Growth Analysts
12/31/2026 7.87 6.98 – 10.71 513 15.0% 11
12/31/2027 9.40 6.80 – 12.04 655 19.5% 11

Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.

Valuation

What is priced in?

Instead of guessing what the stock is worth, we turn the question around: what free cash flow growth has to happen for today’s market value to add up? The assumptions behind it can be moved.

Today’s market value implies roughly 16.9% growth in free cash flow per year over ten years (assumptions: discount rate 10.0%, terminal growth 2.5%).

What is priced in?
Free cash flow (last twelve months) $257.8M
Market cap $10.12B
Free cash flow in year ten $1.23B
Terminal value as a share of market value 63.9%

It shows which assumption is built into today’s price, not whether that assumption will hold. Every assumption can be changed with the sliders; the figures move with them.

A simplified model calculation — not a forecast and not a recommendation.

AI classification

AI Rating

Uses AI

Krystal Biotech verkauft keine KI — das Kerngeschäft ist die zugelassene Gentherapie VYJUVEK gegen die Hautkrankheit Epidermolysis bullosa. Der Geschäftsbericht (10-K 2025) belegt jedoch operativen KI-Einsatz: Das Unternehmen hat nach eigener Angabe „in begrenzten Fällen" KI-Plattformen für konkrete geschäftliche Zwecke eingeführt und will KI nutzen, um die Entdeckung und Entwicklung neuer Produktkandidaten zu beschleunigen und die Fertigung zu optimieren. Damit ist KI ein internes Effizienz-Werkzeug (Kategorie „nutzt"), keine eigenständige Umsatzquelle (das schließt „verkauft" aus) und kein konkret gegen das eigene Geschäftsmodell gerichtetes Existenzrisiko (die AI-Risk-Factor-Passage bleibt allgemeine Boilerplate, das schließt „bedroht" aus).

View the full file — quotes, sources, reviewed filings
„As with many technological innovations, AI presents opportunities, risks and challenges that could impact our business... we have adopted and integrated in limited situations artificial intelligence platforms for limited specific business uses and may adopt and integrate additional AI platforms and/or tools into our business."

Wie bei vielen technologischen Innovationen bietet KI Chancen, Risiken und Herausforderungen, die unser Geschäft beeinflussen könnten... wir haben in begrenzten Fällen Plattformen der Künstlichen Intelligenz für begrenzte, konkrete geschäftliche Zwecke eingeführt und integriert und könnten weitere KI-Plattformen und/oder -Werkzeuge in unser Geschäft integrieren.

10-K · 2026-02-17 · View SEC filing

„Harnessing AI's potential may enable us to speed up the discovery and development of new product candidates, optimize our manufacturing processes, and drive efficiencies."

Das Potenzial der KI zu nutzen, könnte es uns ermöglichen, die Entdeckung und Entwicklung neuer Produktkandidaten zu beschleunigen, unsere Fertigungsprozesse zu optimieren und Effizienzen zu heben.

10-K · 2026-02-17 · View SEC filing

Rated on July 10, 2026 · How the Rating Is Built

Earnings calls

What the Earnings Calls Reveal

We read nine earnings call transcripts of Krystal Biotech (KRYS) from fiscal 2023-Q4 through fiscal 2026-Q1. Operationally the company delivers: revenue from the gene therapy VYJUVEK grew from 42.1 million USD (2023-Q4) to 116.4 million USD (2026-Q1), gross margin stayed between 92 and 96 percent throughout, the cost range was cut twice and met, and in 2026-Q1 Krystal reported its eleventh consecutive profitable quarter. The weak spot is timeline communication: the target of 720 reimbursement approvals, the time to first treatment as well as the KB803 eye drops and the cystic fibrosis program KB407 all missed dated commitments by two to four quarters. The European approval decision, by contrast, slipped by only about two months and was explained on request by negotiations over a broader label. The delays were mostly conceded only when analysts asked; the one that vanished entirely without comment was the KB803 readout promised for end-2025. At the same time several metrics that had deteriorated gradually disappeared from the calls.

Red flags Deadlines repeatedly missed 9 calls reviewed, 2023-Q4 through 2026-Q1 · As of August 2, 2026

720 reimbursed patients: target missed by about three quarters

In the 2024-Q3 call the US commercial lead confirmed the launch target of reaching 60 percent of the identified patient pool within two years, i.e. roughly 720 reimbursement approvals, and explicitly called it 'on track'. Counting from the August 2023 launch the deadline fell in autumn 2025; in 2025-Q2 CEO Krish Krishnan himself named 'September, October of this year' as the original date. The running count went: over 460 (2024-Q3), over 510 (2024-Q4), over 540 (2025-Q1), over 575 (2025-Q2), over 615 (2025-Q3), over 660 (2025-Q4), over 695 in 2026-Q1. The language moved from 'on track' (2024-Q3, 2024-Q4) via 'a few extra months' (2025-Q1) and 'a quarter or two behind' (2025-Q2, 2025-Q3) to hoping to reach the mark 'by next quarter' (2026-Q1). The target management itself had set as the yardstick for launch success is therefore about three quarters behind its own deadline. In 2025-Q2 Krishnan, when asked, framed the 720 as an academic benchmark against the best drug launches and stressed that the full pool of 1,200 patients remains the goal.

Time to first treatment: target missed, metric dropped

In 2023-Q4 Krishnan put the time from start form to first application at 'about 30 days' and set a goal of two to three weeks for the second half of 2024. As early as 2024-Q1 the company said the shortening was happening 'at a slower pace than we previously expected', and the goal was quietly softened to 'under a month later this year'. No call ever reported the two to three weeks as achieved. In 2024-Q4 Krishnan cited 45 to 60 days and framed it as a 'lesson' from the launch - though that figure explicitly covers patients in the community setting and is measured from initial patient interest, so it is not directly comparable to the 30 days of 2023-Q4. After that the metric drops out: it is not mentioned once in the calls from 2025-Q1 through 2026-Q1. The slowdown cited in 2025-Q1 to justify a larger sales force was a different measure, namely the longer time needed to obtain a patient start form.

KB803 eye drops and KB407 in CF: data readouts drift by about a year

For the B-VEC eye drops the head of research announced in 2023-Q4 that the registrational study would start in the second half of 2024; the first patient was dosed in May 2025. In 2024-Q4 and 2025-Q1 a topline readout 'before year-end' 2025 was explicitly promised; in 2025-Q3 that was gone, replaced by the statement that enrollment should finish by year-end, and in the closing remarks of that same call Krishnan moved the readout to mid-2026. Per 2026-Q1 it is now due in the fourth quarter of 2026, with 16 patients enrolled. The picture is similar for the cystic fibrosis program KB407: molecular data were announced for end-2024 (2023-Q4), then the first half of 2025 (2024-Q3), then mid-2025 (2024-Q4), then summer 2025 (2025-Q1) and finally year-end 2025; they were published in January 2026. Management explained the KB407 slippage concretely in 2025-Q2 when asked, citing contract and budget procedures at trial sites. For KB803 the calls do give reasons for the longer path as well: first a natural history study run ahead of the trial that was also meant to feed enrollment (2024-Q3, 2024-Q4), then in 2025-Q4 a protocol switch from a single-arm open-label design to a randomized, placebo-controlled crossover study with self-administration, and in 2026-Q1 a primary endpoint at 24 weeks that mathematically puts the readout in the fourth quarter of 2026. What no call ever states is that this drops the readout promised for end-2025.

Metrics gradually disappear from the calls

Treatment compliance was reported quarter after quarter as long as it was high: 96 percent (2023-Q4), 91 percent (2024-Q1), 87 percent (2024-Q3), 85 percent (2024-Q4), 83 percent (2025-Q1), 82 percent (2025-Q2), 'low 80s' (2025-Q3). In 2025-Q4 and 2026-Q1 management gives no US figure at all. Asked for a quarterly number rather than a since-launch average, Krishnan deflected in 2025-Q1, saying he did not want to publish a figure without enough history; in 2025-Q2 he called the calculation 'not that material to the overall situation'. The same pattern appeared earlier: patient start forms, celebrated at launch (35 percent of 1,200 in 2023-Q4), were replaced by reimbursement approvals from 2024-Q1 on the grounds that these were the better revenue indicator. The disease subtype split disappeared after 2025-Q2 with the note that it was stable. What remains in 2026-Q1 is essentially revenue, reimbursement approvals and prescriber count. For context: the decline in compliance had been flagged in advance. In 2024-Q4 management pointed back to the rates guided at launch, in 2025-Q1 Krishnan named 50 percent as the long-term expectation, and the label change approved in autumn 2025 explicitly allows flexible dosing, which erodes the value of weekly-treatment compliance as a yardstick.

No revenue guidance, regional split came late

There is no revenue guidance in any of the nine calls. In 2023-Q4 Krishnan answered a question on the revenue trajectory with 'nice try'. In 2024-Q3 he told two separate analysts he would 'hopefully' have more clarity by the next quarterly report on whether there would be guidance for 2025; in the 2024-Q4 call the topic came up neither from the company nor from analysts, and no guidance was issued. Only in 2025-Q3 did he state plainly, when asked, that there would be no guidance for 2026 either. The split of revenue into US and international was refused in 2025-Q3 with a reference to accounting and auditor requirements and the still small overseas contribution and deferred to 'some point in 2026' - though Krishnan did say there that US revenue had come in below the prior quarter - then promised for the Q1 report in 2025-Q4 and delivered in 2026-Q1. Analysts asked about a share buyback in 2024-Q4, 2025-Q4 and 2026-Q1; the substance of the answer stayed the same and never carried a date, but it grew more concrete: no cash for acquisitions or in-licensing, and a buyback to be considered once the large pipeline programs and the next launch come into view. No dated commitment was ever made on this.

Counterweight: financial targets and overseas launch delivered

For all the timeline slippage the financial side holds up. The 150 to 175 million USD of operating costs guided for 2024 in 2023-Q4 were cut to 115 to 125 million USD in 2024-Q3 and met; the 150 to 175 million USD range guided for 2025 was reduced to 145 to 155 million USD in 2025-Q3 and hit at 150.3 million USD. The market launches in Europe and Japan promised 'in 2025' back in 2023-Q4 did happen, albeit only in August (Germany) and October 2025 (Japan). The interim data for the alpha-1 program KB408 announced for end-2024 also arrived on time in December 2024. Worth noting: US revenue in 2026-Q1 came in at 87.5 million USD, slightly below the 2025-Q1 figure of 88.2 million USD (then essentially all US business), even though reimbursement approvals rose from over 540 to over 695 in the same period. Growth in 2026-Q1 came from Europe (20.7 million USD) and Japan (8.1 million USD).

Management promises

  • 2023-Q4 — Time from start form to first treatment to fall to two or three weeks in the second half of 2024; starting point then about 30 days. Softened to 'under a month' in 2024-Q1 and never reported as achieved in any call. The 45 to 60 days cited in 2024-Q4 refer to community-setting patients measured from initial interest, so they are not a like-for-like comparison. From 2025-Q1 onward the metric does not appear in any call. broken
  • 2023-Q4 — Decision by the European authorities on approval in the second half of 2024. Still promised for end-2024 in 2024-Q3, the CHMP opinion only came in February 2025, about two months late. Asked in 2024-Q4, the head of research attributed the delay to negotiations over a broader label including home administration - the date was missed, but the slippage is small and the reason plausible. broken
  • 2023-Q4 — Once 1,500 patients are reached, the number of identified DEB patients in the US will be updated. In 2024-Q3 the company said it had already found roughly 10 percent more patients than the original 1,200 and would report again at a 'significant milestone'. In 2025-Q1, 2025-Q2 and 2026-Q1 management still works with the figure of 1,200. The self-imposed threshold of 1,500 identified patients has not been reached, so the commitment is not yet due - this is an open announcement, not a broken one. open
  • 2023-Q4 — Market launch of VYJUVEK in Europe and Japan in 2025. Germany launched in late August 2025, France in October 2025 under the early access scheme, Japan in October 2025 after completed price negotiations. The German launch, originally announced for the first half of 2025, did slip by a quarter. kept
  • 2024-Q1 — Interim results for the alpha-1 study KB408 before the end of 2024. The data were released in December 2024 and presented in detail in 2024-Q4, including transduction rates of 35 to 39 percent and biomarkers. kept
  • 2024-Q3 — 60 percent market penetration, roughly 720 reimbursement approvals, within two years of launch - i.e. by autumn 2025. In 2026-Q1 the count stood at over 695, with the mark now expected in the second quarter of 2026. Delay about three quarters. Management admitted the slippage openly from 2025-Q1 onward. broken
  • 2024-Q3 — Molecular data from the cystic fibrosis study KB407 in the first half of 2025. The date drifted via mid-2025 (2024-Q4), summer 2025 (2025-Q1) and year-end 2025 (2025-Q2, 2025-Q3) to publication in January 2026. The delay was explained plausibly in 2025-Q2 when asked, citing contracting processes at trial sites. broken
  • 2024-Q4 — Topline data from the IOLITE registrational study of the B-VEC eye drops KB803 before the end of 2025. Still confirmed in 2025-Q1, then silently replaced in 2025-Q3 by the goal of completing enrollment by year-end. As of 2026-Q1: readout in the fourth quarter of 2026, about a year later. No call ever named the dropped date as a delay, but the calls do give substantive reasons - the protocol switch to a randomized crossover study (2025-Q4) and the primary endpoint at 24 weeks (2026-Q1). broken
  • 2025-Q4 — From the first quarter 2026 report onward, revenue will be broken out into US and international. In 2026-Q1 the company reported 87.5 million USD for the US and 28.9 million USD for Europe and Japan, split into 20.7 million USD Europe and 8.1 million USD Japan. kept
  • 2025-Q4 — Data update on repeat dosing of KB408 in alpha-1 deficiency before the end of 2026. In 2025-Q3 the company still spoke of the first half of 2026; in 2025-Q4 that became year-end without comment. In 2026-Q1 the wording is still 'later this year' - the date is still pending. open

Based on public earnings call transcripts. Reviewed: 9 transcripts 2023-Q4 through 2026-Q1.

Growth

Growth Score

Ten checks against the annual reports — each one passed counts a point.

7 of 10 Solid growth
  • Revenue grows by more than 15% a year over three years no data
  • More than 10% revenue growth is expected for the coming year 29.0%
  • Share count grows by less than 3% a year 5.5%
  • Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") 82.5%
  • Gross margin at 40% or higher and without meaningful erosion 92.6%
  • Goodwill from acquisitions does not grow faster than revenue 0.0%
  • Net debt below twice EBITDA 818 m net cash
  • Operating cash flow covers the profits of the last three years -69 m
  • Return on capital at 15% or higher, or up versus two years ago 13.1%
  • Insiders hold at least 10% or are net buyers 11.0%

A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail

Quality check

AAQS

6/10

The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).

  • Sales growth 10Y > 5%
  • Exp. sales growth 3Y > 5% 29.7%
  • EBIT growth 10Y > 5%
  • Exp. EBIT growth 3Y > 5% 17.2%
  • Net debt < 4x EBIT -5.1x
  • EBIT positive, 10Y straight 2
  • Max. EBIT decline < 50% 0.0%
  • Return on equity > 15% 16.8%
  • ROCE > 15% 13.1%
  • Expected return > 10% 19.4%

View stocks with the full AAQS score · Read the methodology at AlleAktien

Source: fundamental data

Insiders

Insider Transactions

Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.

Insider Transactions
Date Person Role Type Shares Price Value
Sep 4, 2026 Krishnan Suma President, R&D Sell 399 366.56 146,256
Sep 4, 2026 Krishnan Suma President, R&D Sell 826 365.41 301,832
Sep 4, 2026 Krishnan Suma President, R&D Sell 1,329 364.48 484,390
Sep 4, 2026 Krishnan Suma President, R&D Sell 565 363.34 205,287
Sep 4, 2026 Krishnan Suma President, R&D Sell 1,992 362.65 722,404
Sep 4, 2026 Krishnan Suma President, R&D Sell 1,242 361.61 449,120
Sep 4, 2026 Krishnan Suma President, R&D Sell 2,320 360.47 836,281
Sep 4, 2026 Krishnan Suma President, R&D Sell 3,392 359.39 1,219,038
Sep 4, 2026 Krishnan Suma President, R&D Sell 3,180 358.42 1,139,777
Sep 4, 2026 Krishnan Suma President, R&D Sell 3,962 357.57 1,416,709

View all insider transactions →

The company

About the Company

Krystal Biotech, Inc. ist ein Biotechnologieunternehmen in der kommerziellen Phase, das genetische Medikamente zur Behandlung von Erkrankungen mit hohem ungedecktem medizinischem Bedarf in den USA entdeckt, entwickelt, fertigt und kommerzialisiert.

Employees
295
Headquarters
Pittsburgh, PA
Address
2100 Wharton Street, 15203 Pittsburgh, United States
Phone
412 586 5830
IPO Date
09/20/2017
ISIN
US5011471027

Management

Management
Name Title Birth Year
Krish S. Krishnan M.B.A., M.S. Founder, Chairman, President & CEO 1965
Suma M. Krishnan Founder, President of R&D and Director 1965
Kathryn A. Romano CPA Executive VP & Chief Accounting Officer 1982
John C. Thomas EVP, General Counsel & Corporate Secretary 1974
John Karakkal Vice President of North American Sales & Marketing
Stephane Paquette Ph.D. Senior Vice President of Corporate Development
Josh Suskin Senior Director & Head of US Human Resources
Laurent Goux Executive VP & Head of International 1975
David Chien M.D. Senior Vice President of Clinical Development
Christine Wilson Senior VP & Head of US Commercial

Executives per the latest required filings; titles kept in their original language. Source: fundamental data.

Filings

Company Filings (8-K)

An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).

  • 08/03/2026 Krystal Biotech, Inc. (KRYS): Results of Operations and Financial Condition; Financial Statements and Exhibits SEC ↗
  • 07/21/2026 Krystal Biotech, Inc. (KRYS): Other Events; Financial Statements and Exhibits SEC ↗

Data as of: September 17, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)

Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.

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