Every material Form 8-K Krystal Biotech has filed with the SEC since May 22, 2023, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Krystal Biotech reported third quarter 2026 net product revenue of $127.3 million for VYJUVEK and net income of $63.1 million, compared to $79.4 million in the prior year period. The company also announced that its board of directors authorized a share repurchase program of up to $400 million.
Third quarter 2026 net product revenue for VYJUVEK was $127.3 million, up 30% year-over-year.
Net income for the third quarter of 2026 was $63.1 million, or $2.05 per diluted share.
Cash, cash equivalents, and investments totaled $1.2 billion as of September 30, 2026.
The board authorized a share repurchase program of up to $400 million.
Krystal Biotech reported second quarter 2026 results on August 3, 2026. VYJUVEK net product revenue rose 24% from the prior year quarter to $119.2 million, and net income was $54.8 million, or $1.79 per diluted share, versus $38.3 million a year earlier. The company also gave full-year 2026 non-GAAP R&D and SG&A expense guidance of $175.0 million to $195.0 million.
Q2 2026 product revenue, net was $119.2 million, up from $96.0 million in Q2 2025
Q2 2026 net income was $54.8 million, or $1.79 per diluted share, versus $1.29 a year earlier
First-half 2026 product revenue was $235.6 million, up from $184.2 million; cash and investments totaled $1.1 billion at June 30, 2026
FY 2026 non-GAAP R&D and SG&A expense guidance is $175.0 million to $195.0 million, excluding stock-based compensation
Krystal Biotech reported fourth-quarter and full-year 2025 results, with product revenue from VYJUVEK rising from the prior-year periods. Net income for the quarter was $51.4 million, or $1.70 per diluted share, compared with $45.5 million, or $1.52 per diluted share, a year earlier. The company also issued fiscal 2026 non-GAAP R&D and SG&A expense guidance of $175.0 million to $195.0 million.
Q4 2025 product revenue, net, was $107.1 million, up from $91.1 million in Q4 2024.
Full-year 2025 product revenue, net, was $389.1 million, up from $290.5 million in 2024.
Full-year 2025 net income was $204.8 million, or $6.84 per diluted share, versus $89.2 million, or $3.00 per diluted share, in 2024.
FY 2026 non-GAAP R&D and SG&A expense guidance is $175.0 million to $195.0 million, excluding stock-based compensation.
Krystal Biotech disclosed preliminary, unaudited 2025 results ahead of its J.P. Morgan Healthcare Conference presentation on January 12, 2026, including VYJUVEK net product revenue and cash of about $955 million as of December 31, 2025. It also gave 2026 combined non-GAAP R&D and SG&A expense guidance of $175 million to $195 million. The company said its audit is ongoing and the figures could change, with full 2025 results due in February 2026.
Preliminary Q4 2025 VYJUVEK net product revenue of $106 million to $107 million; full year 2025 of $388 million to $389 million
Cash, cash equivalents and investments of approximately $955 million as of December 31, 2025
2026 combined non-GAAP R&D and SG&A expense guidance of $175 million to $195 million, excluding stock-based compensation
Figures are unaudited and subject to change; full 2025 results to be reported in February 2026
Krystal Biotech director Kirti Ganorkar gave notice on December 22, 2025 that he will resign from the Board. He will remain a director through December 31, 2025, and the company said the move was due to time constraints from his recent promotion at Sun Pharma, not a disagreement with the Board or management.
Kirti Ganorkar gave notice of resignation from the Board on December 22, 2025
He will continue as a director through December 31, 2025
Resignation attributed to time constraints from a recent promotion to Managing Director at Sun Pharma, not a disagreement with the company
He had served on the Board since the company's September 2017 initial public offering
Krystal Biotech reported third-quarter 2025 product revenue of $97.8 million, up from $83.8 million a year earlier, and net income of $79.4 million, or $2.66 per diluted share, versus $27.2 million, or $0.91, in the prior-year quarter. Net income was helped by a $31.4 million income tax benefit, and the company had $864.2 million in cash and investments at quarter end.
Q3 2025 product revenue, net was $97.8 million versus $83.8 million in Q3 2024.
Q3 2025 net income was $79.4 million ($2.66 diluted per share), including a $31.4 million income tax benefit.
Income from operations was $41.4 million versus $22.5 million a year earlier.
FY 2025 non-GAAP combined R&D and SG&A expense guidance is $145.0 million to $155.0 million.
Krystal Biotech reported second-quarter 2025 product revenue of $96.0 million, up from $70.3 million a year earlier, and net income of $38.3 million, or $1.29 per diluted share, compared with $15.6 million, or $0.53 per diluted share, in the prior-year quarter. The company also reported $820.8 million in cash and investments and issued FY 2025 non-GAAP R&D and SG&A expense guidance of $150.0 million to $175.0 million.
Q2 2025 product revenue, net: $96.0 million vs. $70.3 million in Q2 2024
Q2 2025 net income: $38.3 million ($1.29 per diluted share) vs. $15.6 million ($0.53) a year earlier
Cash, cash equivalents and investments: $820.8 million as of June 30, 2025
FY 2025 non-GAAP R&D and SG&A expense guidance: $150.0 million to $175.0 million
Krystal Biotech reported first-quarter 2025 results, with product revenue of $88.2 million, up from $45.3 million a year earlier, and net income of $35.7 million, or $1.20 per diluted share, compared with $0.9 million in the prior-year quarter. The company also gave full-year 2025 non-GAAP R&D and SG&A expense guidance of $150.0 million to $175.0 million, and it reported $765.3 million in cash and investments.
Product revenue, net: $88.2 million in Q1 2025 versus $45.3 million in Q1 2024
Net income: $35.7 million ($1.24 basic, $1.20 diluted per share) versus $0.9 million ($0.03 per share) in Q1 2024
FY 2025 non-GAAP R&D and SG&A expense guidance: $150.0 million to $175.0 million, excluding stock-based compensation
Cash, cash equivalents, and investments: $765.3 million as of March 31, 2025
Krystal Biotech reported third-quarter 2024 net product revenue of $83.8 million, up from $8.6 million a year earlier, driven by VYJUVEK sales. Net income fell to $27.2 million, or $0.91 per diluted share, from $80.7 million, or $2.79 per diluted share, a year earlier; that period included a $100 million gain on the sale of a priority review voucher, and this quarter included a $12.5 million litigation settlement charge. The company also set full-year 2024 non-GAAP R&D and SG&A expense guidance of $115 million to $125 million.
Q3 2024 net product revenue was $83.8 million versus $8.6 million in Q3 2023; gross margin for VYJUVEK was 92% for the quarter.
Q3 2024 net income was $27.2 million, or $0.91 per diluted share, compared with $80.7 million, or $2.79 per diluted share, in Q3 2023.
Q3 2024 included a $12.5 million litigation settlement expense and $100 million gain from a priority review voucher sale was recorded in Q3 2023.
Cash, cash equivalents and investments totaled $694.2 million as of September 30, 2024; full-year 2024 non-GAAP R&D and SG&A guidance is $115 million to $125 million.
Krystal Biotech reported second-quarter 2024 product revenue of $70.3 million from VYJUVEK, up 55.3% from the first quarter, and net income of $15.6 million ($0.53 per diluted share), compared with a net loss of $33.2 million a year earlier. Results include a $12.5 million litigation settlement charge, and the company kept its 2024 R&D and SG&A expense guidance of $150 million to $175 million (non-GAAP, excluding stock-based compensation) unchanged.
Q2 2024 product revenue, net: $70.3 million, up 55.3% from Q1 2024; gross margin 91%
Q2 2024 net income: $15.6 million, or $0.53 per diluted share, versus a net loss of $33.2 million in Q2 2023
Q2 2024 included a $12.5 million litigation settlement expense
Cash, cash equivalents and investments: $628.9 million as of June 30, 2024; 2024 R&D and SG&A guidance unchanged
Krystal Biotech reported its first quarter 2024 results, its first product revenue after the May 2023 FDA approval of VYJUVEK, with net product revenue of $45.3 million and net income of $0.9 million, or $0.03 per share. A year earlier the company posted a net loss of $45.3 million, or $1.76 per share. The company said it continues to expect $150 million to $175 million of non-GAAP R&D and SG&A expense for 2024.
Net product revenue was $45.3 million for the quarter ended March 31, 2024, with gross margin of 95%.
Net income was $0.9 million, or $0.03 per share, compared with a net loss of $45.3 million, or $1.76 per share, in the first quarter of 2023.
Cash, cash equivalents and investments totaled $622.3 million on March 31, 2024.
The company continues to anticipate $150 million to $175 million of 2024 non-GAAP combined R&D and SG&A expense, excluding stock-based compensation.
Krystal Biotech reported fourth-quarter and full-year 2023 results, with net product revenue of $42.1 million in the quarter and $50.7 million for the year from VYJUVEK, which was approved in May 2023. The company posted net income of $8.7 million for the quarter versus a $32.1 million loss a year earlier, and $10.9 million for the year, which includes a $100.0 million gain from selling a Priority Review Voucher. The company also gave 2024 non-GAAP R&D and SG&A expense guidance of $150.0 million to $175.0 million.
Q4 2023 net product revenue was $42.1 million, versus no product revenue in Q4 2022.
Q4 2023 net income was $8.7 million ($0.31 per basic share), compared with a loss of $32.1 million in Q4 2022.
Full-year 2023 net income was $10.9 million, including a $100.0 million gain from the sale of a Priority Review Voucher.
2024 non-GAAP combined R&D and SG&A expense guidance is $150.0 million to $175.0 million; cash and investments were $594.1 million at December 31, 2023.
Krystal Biotech reported third quarter 2023 results, with net income of $80.7 million, or $2.88 per basic share, compared with a net loss of $29.9 million a year earlier. The result was driven by a $100 million gain from the sale of a Priority Review Voucher, while the company's loss from operations was $26.0 million and its first VYJUVEK product revenue was $8.6 million. Cash, cash equivalents and investments totaled $598.6 million at September 30, 2023.
Q3 2023 net income was $80.7 million, including a $100 million gain from the sale of a Priority Review Voucher.
Q3 2023 product revenues, net were $8.6 million, with 284 VYJUVEK Patient Start Forms received as of the end of the quarter.
Nine-month 2023 net income was $2.2 million, compared with a net loss of $107.9 million for the same period in 2022.
Krystal Biotech disclosed that Andrew Orth, its Chief Commercial Officer, resigned and that his last day with the company was August 2, 2023. The filing does not give a reason for the departure or name a successor, and it does not describe any financial impact.
Andrew Orth, Chief Commercial Officer, resigned from his position.
Orth's last day with Krystal Biotech was August 2, 2023.
The filing does not name a replacement or state a reason for the resignation.
Krystal Biotech reported a second-quarter 2023 net loss of $33.2 million, or $(1.25) per share, up from $28.1 million, or $(1.10) per share, a year earlier. The filing reports no revenue figure; it cites 121 Patient Start Forms for VYJUVEK in the first six weeks after its May 19 FDA approval, and $505.9 million in cash, cash equivalents and investments at June 30, 2023.
Q2 2023 net loss was $33.2 million, or $(1.25) per share, versus $28.1 million, or $(1.10) per share, in Q2 2022.
General and administrative expenses rose to $25.9 million from $17.9 million, and R&D expenses rose to $12.1 million from $10.9 million.
As of June 30, the company had received 121 VYJUVEK Patient Start Forms, 30 of them for dominant dystrophic epidermolysis bullosa.
Cash, cash equivalents and investments totaled $505.9 million on June 30, 2023.
On May 21, 2023, Krystal Biotech agreed to sell 1,729,729 shares of common stock to institutional investors at $92.50 per share, for an aggregate purchase price of approximately $160 million before offering expenses. The company plans to use the proceeds for commercialization of VYJUVEK, its clinical pipeline, business development, and working capital, and expects the sale to close on May 22, 2023. The new shares add to the company's outstanding share count, which dilutes existing shareholders, while the company says the funds should support operations through the end of 2026.
1,729,729 shares of common stock to be sold at $92.50 per share, for approximately $160 million in gross proceeds before offering-related expenses
Agreement dated May 21, 2023; closing expected May 22, 2023, subject to customary conditions
Financing led by Avoro Capital Advisors and Redmile Group, LLC, with participation from Braidwell LP and Frazier Life Sciences
Company agreed to file a registration statement for resale of the shares within 60 days of closing
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