Krystal Biotech Announces Pricing of $200 Million Public Offering of Common Stock

About this update from Krystal Biotech, Inc.

[{"type":"text","content":"PITTSBURGH, Nov. 30, 2021 (GLOBE NEWSWIRE) -- Krystal Biotech, Inc. (NASDAQ: KRYS) (the “Company”), the leader in redosable gene therapies for rare diseases, today announced that it has priced the previously announced underwritten public offering of 2,666,667 shares of its common stock, at a public offering price of $75.00 per share. The Company and certain selling stockholders granted the underwriters a 30-day option to purchase up to an additional 400,000 shares of the Company’s common stock offered in the public offering. The gross proceeds to the Company from this offering are expected to be approximately $200 million, before deducting the underwriting discounts and commissions and other estimated offering expenses payable by the Company. All of the shares to be sold in the proposed offering will be sold by the Company other than up to 200,000 shares of the Company’s common stock that may be sold by the selling stockholders in connection with the exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on or about December 3, 2021, subject to satisfaction of customary closing conditions. Goldman Sachs & Co. LLC, BofA Securities, Cowen and William Blair are acting as the book-running managers for the offering. Chardan is acting as lead manager for the offering. The Company currently intends to use the net proceeds from this offering, together with its existing cash, cash equivalents and short-term investments as follows: (i) to prepare for potential commercialization of VYJUVEKTM for dystrophic epidermolysis bullosa, if approved; (ii) to advance the clinical development of KB105 in TGM1-deficient ARCI and preclinical development of KB104 for Netherton syndrome; (iii) to advance development of KB407 for cystic fibrosis and KB408 for alpha-1 antitrypsin deficiency; (iv) to accelerate the Company’s emerging respiratory pipeline; (v) to further invest in technology platform development, including exploration of additional routes of administration to target new organ systems and novel transgene payloads; (vi) to complete development of the Company’s second good manufacturing practices certified manufacturing facility and commencement of operations of that facility; and (vii) for working capital and general corporate purposes, including research and development expenses and capital expen...

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