Business
Krystal Biotech Announces Proposed Public Offering of Common Stock
PITTSBURGH, May 18, 2020 (GLOBE NEWSWIRE) -- Krystal Biotech, Inc. (Nasdaq: KRYS) (the “Company”), a gene therapy company developing a new class of
About this update from Krystal Biotech, Inc.
[{"type":"text","content":"PITTSBURGH, May 18, 2020 (GLOBE NEWSWIRE) -- Krystal Biotech, Inc. (Nasdaq: KRYS) (the “Company”), a gene therapy company developing a new class of transformative medicines to treat diseases caused by gene or protein dysfunction, today announced that it has commenced an underwritten public offering of its common stock. The Company intends to grant the underwriters a 30-day option to purchase an additional 15% of the shares of its common stock offered in the public offering. The offering is subject to market and other conditions, and there can be no assurances as to whether or when the offering may be completed, or as to the actual size or terms of the offering. All of the shares to be sold in the proposed offering will be sold by the Company.\n Cowen and Evercore ISI are acting as joint book-running managers for the offering. The Company currently intends to use the net proceeds from this offering, if any, together with its existing cash, cash equivalents and short-term investments: (i) to advance KB103 into and through a Phase 3 clinical trial; (ii) to advance the clinical development of KB105; (iii) to advance the pre-clinical and clinical development of KB104, KB301 and KB407; (iv) to complete development of a good manufacturing practices certified manufacturing facility for scale-up production of the Company’s pipeline compounds and commencement of operations of that facility; and (v) the balance for working capital and general corporate purposes, including research and development expenses and capital expenditures. The offering is being made pursuant to a “shelf” registration statement on Form S-3 (File No. 333-237983) that became effective upon filing with the Securities and Exchange Commission (“SEC”) on May 4, 2020 and the base prospectus contained therein. A preliminary prospectus supplement and accompanying base prospectus relating to the offering and the shares of common stock being offered will be filed with the SEC. Before you invest, you should read the prospectus in the registration statement, the preliminary prospectus supplement, and other documents the Company has filed with the SEC for more complete information about the Company and this offering. Copies of the registration statement, the preliminary prospectus supplement and accompanying base prospectus may be obtained, when available, on the SEC’s website at...