Krystal Biotech, Inc. KRYS
We are a fully integrated, global, commercial-stage biotechnology company focused on the discovery, development, manufacturing and commercialization of genetic medicines to treat diseases with high unmet medical needs. Using our patented gene therapy technology platform that is based on engineered herpes simplex virus-1 ("HSV-1"), we create vectors that efficiently deliver therapeutic transgenes to cells of interest in multiple organ systems. The cell's own machinery then transcribes and translates the transgene to treat the disease. Our vectors are amenable to formulation for non-invasive or minimally invasive routes of administration at a healthcare professional's office or in the patient's home by a healthcare professional, caregiver, or directly by the patient themselves. Our innovative technology platform is supported by two in-house, commercial scale Current Good Manufacturing Practice ("CGMP") manufacturing facilities.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $389.1M | $290.5M | $50.7M | $0 | $0 | — | — | — | — | — |
| R&D | $58.0M | $53.6M | $46.4M | $42.5M | $27.9M | $17.9M | $15.6M | $7.8M | $3.2M | $741.0K |
| SG&A | $146.7M | $113.6M | $98.3M | $77.7M | $40.4M | $15.1M | $6.5M | $4.2M | $1.6M | $402.0K |
| Total operating expenses | $227.8M | $224.8M | $160.3M | $145.2M | $68.3M | $33.0M | $22.1M | $11.9M | $4.8M | $1.1M |
| Operating income | $161.3M | $65.7M | -$109.6M | -$145.2M | -$68.3M | -$33.0M | -$22.1M | -$11.9M | -$4.8M | -$1.1M |
| Interest expense | — | — | $0 | $0 | $1.5M | $0 | — | — | — | — |
| Pre-tax income | $189.5M | $95.4M | $12.9M | -$140.0M | -$69.6M | -$32.2M | -$19.1M | -$10.9M | -$7.9M | — |
| Income tax | $15.4M | $6.2M | $2.0M | $0 | $0 | $0 | $0 | $0 | $0 | — |
| Net income | $204.8M | $89.2M | $10.9M | -$140.0M | -$69.6M | -$32.2M | -$19.1M | -$10.9M | -$7.9M | -$1.1M |
| EPS, basic | 7.08 | 3.12 | 0.40 | -5.49 | -3.13 | -1.71 | — | — | — | — |
| EPS, diluted | 6.84 | 3.00 | 0.39 | -5.49 | -3.13 | -1.71 | -1.20 | -0.97 | -1.48 | -1.31 |
| Shares, diluted (wtd. avg.) | $30.0M | $29.7M | $27.8M | $25.5M | $22.2M | $18.8M | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $496.3M | $344.9M | $358.3M | $161.9M | $341.2M | $268.3M | $187.5M | $103.7M | $49.6M | $1.9M |
| Short-term investments | $331.5M | $252.7M | $173.8M | $217.3M | $96.8M | $3.0M | $6.2M | $8.1M | — | — |
| Receivables | $127.4M | $104.7M | $42.0M | $0 | — | — | — | — | — | — |
| Inventory | $40.5M | $26.5M | $7.0M | $0 | — | — | — | — | — | — |
| Total current assets | $1.02B | $742.0M | $587.9M | $383.8M | $442.3M | $275.1M | $195.9M | $112.7M | $49.9M | $2.2M |
| Property, plant and equipment | $150.8M | $155.2M | $161.2M | $161.7M | $112.4M | $30.9M | $8.5M | $3.0M | $200.0K | $13.0K |
| Total assets | $1.33B | $1.06B | $818.4M | $558.5M | $626.3M | $310.8M | $209.0M | $116.1M | $50.1M | $2.2M |
| Accounts payable | $3.2M | $5.0M | $4.1M | $4.0M | $8.4M | $2.1M | $1.0M | $888.0K | $193.0K | $42.0K |
| Total current liabilities | $102.9M | $102.0M | $33.1M | $28.8M | $25.7M | $15.5M | $3.3M | $2.6M | $640.0K | $43.0K |
| Long-term debt | — | — | — | — | — | — | — | — | $4.3M | — |
| Total liabilities | $114.2M | $109.5M | $39.7M | $36.2M | $32.7M | $18.8M | $6.1M | $2.9M | $640.0K | $1.9M |
| Retained earnings | $24.2M | -$180.7M | -$269.8M | -$280.8M | -$140.8M | -$71.2M | -$39.0M | -$20.0M | -$9.1M | -$1.1M |
| Total equity | $1.22B | $946.4M | $778.6M | $522.2M | $593.6M | $292.1M | $202.9M | $113.2M | $49.5M | $289.0K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $200.9M | $123.4M | -$88.8M | -$100.6M | -$47.9M | -$26.1M | -$18.7M | -$9.4M | -$3.9M | -$1.3M |
| Depreciation and amortisation | $5.7M | $6.0M | $5.0M | $2.6M | $1.8M | $1.9M | $1.1M | $141.0K | $23.0K | $2.0K |
| Stock-based compensation | $54.5M | $49.1M | $39.9M | $33.2M | $15.3M | $3.3M | $1.2M | $792.0K | $246.0K | $33.0K |
| Capital expenditure | $12.0M | $4.2M | $11.8M | $53.0M | $68.3M | $14.8M | $6.4M | $2.2M | $210.0K | $15.0K |
| Investing cash flow | -$58.4M | -$163.4M | $82.6M | -$114.1M | -$226.8M | -$11.2M | -$5.0M | -$10.3M | -$210.0K | -$15.0K |
| Financing cash flow | $8.7M | $27.0M | $202.8M | $35.3M | $347.7M | $118.0M | $107.5M | $73.8M | $51.8M | $3.2M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001711279-26-000016.
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