Krystal Biotech, Inc.

Overview

Krystal Biotech, Inc. is a commercial-stage biotechnology company developing genetic medicines, with a focus on redosable gene therapies using its engineered HSV-1 vector platform. Its first commercial product, VYJUVEK® (beremagene geperpavec-svdt), is a gene therapy for dystrophic epidermolysis bullosa. The company states that its mission is to bring transformative medicines to people with high unmet medical needs.[1][2]

VYJUVEK defines Krystal’s commercial business. It has received approvals in the United States, Europe and Japan; the company also develops candidates for other diseases, including cystic fibrosis and alpha-1 antitrypsin deficiency.[3][4]

Krystal reported $389.1 million in net product revenue for 2025, generated from VYJUVEK, and $235.6 million for the first half of 2026. Its stated locations include Pittsburgh headquarters and offices in Berlin, Paris, Tokyo and Zug, reflecting a presence across North America, Europe and Japan. Company operations commenced in April 2016.[5]+3 [3]+7

Products & services

Krystal Biotech’s only approved commercial product is VYJUVEK (B-VEC), a redosable topical gene therapy for dystrophic epidermolysis bullosa (DEB). It delivers two copies of COL7A1 to wounds to enable skin cells to produce type VII collagen. The product is approved in the U.S., EU, UK, and Japan; its updated U.S. label permits use from birth and application by a healthcare professional, caregiver, or patient, at home or in a healthcare setting.[9]+2

The company’s investigational candidates include KB111, a topical ATP2C1 gene therapy for Hailey-Hailey disease; KB301 and KB304, intradermal collagen III-based candidates for skin rejuvenation and aesthetic indications, with KB304 also encoding elastin; and nebulized KB407 and KB408, which deliver CFTR for cystic fibrosis and functional alpha-1 antitrypsin for alpha-1 antitrypsin deficiency, respectively.[12]+5 KB707 encodes IL-2 and IL-12 and is being developed for solid tumors, including by intratumoral injection and inhaled delivery for lung cancer. KB801 is an eye-drop candidate encoding nerve growth factor for neurotrophic keratitis, while KB803 is an eye-drop formulation of B-VEC intended to deliver COL7A1 to the ocular surface for DEB-related eye complications.[18]+3

Krystal describes its HSV-1 gene therapy vectors as redosable and non-integrating, and reports developing in-house vector production and purification capabilities.[22]+2 VYJUVEK accounted for all reported product revenue: net product revenue was $389.1 million in 2025 and $235.6 million in the first half of 2026; the filings report no product sales for the investigational candidates.[25]+2 [9]+18

Geographic presence

Krystal Biotech’s principal executive offices and approximately 67,000 square feet of office, laboratory, manufacturing and warehouse space—including its ANCORIS manufacturing facility—are in Pittsburgh, Pennsylvania. The company also reports operations and employees outside the United States, with established operations in Europe and Japan.[28]+3

VYJUVEK was approved in the United States, the European Union, the United Kingdom and Japan as of the company’s Q2 2026 report.[11] In the first half of 2026, net product revenue was $179.1 million in the United States, $40.0 million in Europe and $16.5 million in Japan—approximately 76%, 17% and 7% of total net product revenue, respectively.[32] The company has also reported commercial activity in Germany, France and Japan; its disclosures described Italy and Spain launches as planned for later in 2026.[33][34] [28]+10

Business segments

Krystal Biotech reports one operating segment, focused on the discovery, development, manufacturing, and commercialization of genetic medicines for diseases with high unmet medical needs. The segment encompasses the company’s consolidated operations; no separate segment revenue contributions are reported, so the sole segment represents effectively 100% of reported revenue.[35][36]

Krystal also monitors research and development spending by program, but these program-level expense figures are not separate reportable business segments and do not indicate revenue contribution.[37][38] VYJUVEK was the company’s only marketed product in the cited reporting periods: product revenue was $389.1 million in 2025 and $235.6 million in the first half of 2026. Accordingly, VYJUVEK accounted for approximately 100% of product revenue in those periods, although the company does not report a separate product-level revenue percentage.[38]+2 [35]+6

Company history

Krystal Biotech originated as Krystal Biotech, LLC, formed in California in December 2015, and began operations in April 2016. It converted to a Delaware corporation and adopted its current name in March 2017. Founders Krish S. Krishnan and Suma M. Krishnan went on to lead the company as CEO and President of R&D, respectively.[40][41]

Krystal completed its initial public offering in September 2017, listing on Nasdaq under the ticker KRYS. In 2018, it began clinical testing of topical B-VEC—later named VYJUVEK—for dystrophic epidermolysis bullosa (DEB); Phase 2 began in December that year. The pivotal Phase 3 GEM-3 trial started in 2020, and the company reported positive results in 2021.[42]+2

In May 2023, the FDA approved VYJUVEK for DEB, making it Krystal’s first approved product; the company began its U.S. commercial launch that quarter. In 2025, VYJUVEK received European Commission and Japanese regulatory approvals, and the FDA expanded the U.S. label to include patients from birth.[45][10] [40]+7

Sources

• www.krystalbio.com[1]
• www.krystalbio.com[2]
• Krystal Biotech, Inc. — Full financial report (2025 Y)
  29 citations

  [3][5][8][12][13][14][15][16][17][18][19][20][21][22][23][24][27][28][29][30][31][36][37][38][40][41][43][44][45]
• www.krystalbio.com[4]
• Krystal Biotech, Inc. — Full financial report (2026 Q 2)
  8 citations

  [6][9][10][11][26][32][35][39]
• www.krystalbio.com[7]
• Krystal Biotech, Inc. — Press release (2025 Y)[25]
• Krystal Biotech, Inc. — Transcript (2025 Y)[33]
• ir.krystalbio.com[34]
• www.sec.gov[42]