Krystal Biotech, Inc. · NASDAQ:KRYS
Krystal Biotech — Q1 2025 Earnings Presentation
21 slides from Krystal Biotech's earnings presentation, May 6, 2025
Slide 1: First Quarter 2025 Financial and Operating Results
First Quarter 2025 Financial and Operating Results May 6, 2025 © Copyright 2025 Krystal Biotech, Inc. All rights reserved.
Slide 2: Forward Looking Statements and Disclosures
Forward Looking Statements and Disclosures This presentation and the accompanying oral presentation contain forward-looking statements that involve substantial risks and uncertainties. Any statements about future expectations, plans, and prospects for Krystal Biotech, Inc. (together with its subsidi
Slide 3: Exciting 2025 at Krystal with Global Launch and Upcoming Readouts
Exciting 2025 at Krystal with Global Launch and Upcoming Readouts ▪ VYJUVEK goes global in 2025 ▪ Four clinical readouts in 2025 ▪ Second ophthalmic program for treatment of neurotrophic keratitis enters the clinic ▪ Financial stability and insulated from current macro situation Krystal | 3
Slide 4: VYJUVEK Receives Approval in Europe
VYJUVEK Receives Approval in Europe Over 1000 diagnosed DEB patients in Germany and France alone ✓ Broad label approved by the European Commission ✓ Recommended approval for treatment of wounds in DEB patients from birth ✓ Included option for home administration by either a trained caregiver or a pa
Slide 5: Progressing Towards PMDA Approval Decision in 2H 2025
Progressing Towards PMDA Approval Decision in 2H 2025 ✓ ODD received in December 2023 ✓ Efficacy portion of multicenter, open-label extension study in Japanese patients completed in April 2024 ✓ JNDA submitted in October 2024 Over 500 Estimated DEB ✓ Manufacturing facility inspection completed in Ap
Slide 6: Over $429M in VYJUVEK Revenue Since Launch
Over $429M in VYJUVEK Revenue Since Launch US$ Millions ▪ Net revenue increased 95% compared to 1Q 2024 $83.8 $91.1 $88.2 ▪ Gross margin of 94% in 1Q $70.3 $45.3 ▪ Gross to net in 1Q was 17% $42.1 $8.6 3Q 2023 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 Krystal | 6
Slide 7: Four Clinical Readouts in 2025
Four Clinical Readouts in 2025 ❑ KB407 for cystic fibrosis – mid summer ❑ KB408 for AATD lung disease – 2H 2025 ❑ KB304 for the delivery of elastin to treat aesthetic skin conditions – 2H 2025 ❑ KB803 for the treatment of lesions in the eye of DEB patients – 2H 2025 AATD, alpha-1 antitrypsin deficie
Slide 8: Neurotrophic Keratitis
Neurotrophic Keratitis KB801 designed to drive sustained, local nerve growth factor expression and maximize potential efficacy while minimizing dosing frequency • Neurotrophic keratitis (NK) is a degenerative disease of cornea that occurs when corneal nerves are damaged and their roles in maintainin
Slide 9: Financial Stability and Insulated From Current Macro Situation
Financial Stability and Insulated From Current Macro Situation ▪ Revenue vs Operating Expense ▪ All manufacturing in U.S. ▪ All IP held in the U.S. ▪ 7 quarters of profitable EPS since launch ▪ Global diversification EPS, earnings per share; U.S., United States Krystal | 9
Slide 10: Over 540 Reimbursement Approvals as of April 2025
Over 540 Reimbursement Approvals as of April 2025 Reimbursement Approval Splits Payer Commercial 45% Medicaid 39% Other 17% 83% Compliance to Weekly Therapy While on Drug RDEB DDEB As of 1Q 2025 DEB Subtype 69% 31% Age Group 6 months to 10 Years 11 to 20 21 Years and 97% Years Over Dosing in Home Se
Slide 11: Building on Initial Patient Successes to Drive Penetration in the U.S.
Building on Initial Patient Successes to Drive Penetration in the U.S. ▪ Evolving field tactics as launch penetrates deeper into community ▪ Amplifying patient success stories to drive penetration of identified DEB patient pool ▪ Patient-centric approach is earning trust and building relationships f
Slide 12: Recent Publications Add to Clinical Evidence Supporting Regular VYJUVEK Use
Recent Publications Add to Clinical Evidence Supporting Regular VYJUVEK Use Long-Term Safety and Tolerability of Beremagene Geperpavec-svdt (B-VEC) in an Open-Label Extension Study of Patients with Dystrophic Epidermolysis Bullosa M Peter Marinkovich, Amy S Paller, Shireen V Guide, Mercedes E Gonzal
Slide 13: Compelling Outcomes Across Wounds of All Sizes in OLE
Compelling Outcomes Across Wounds of All Sizes in OLE Phase 3 Rollover Patients Phase 3 Baseline End of Phase 3 End of OLE Previously Untreated OLE Patient Baseline (OLE Week 1) 6 Months 9 Months 12 Months Marinkovich MP, et al. Am J Clin Dermatol. 2025; doi: 10.1007/s40257-025-00942-y OLE, open lab
Slide 14: Rapidly Approaching Molecular Readouts for Krystal's Lung Programs
Rapidly Approaching Molecular Readouts for Krystal’s Lung Programs Initial KB408 molecular data demonstrated ability to safely deliver functional genetic cargo to airways of the lung 35% 3% AAT Positive AAT Positive Cells Patient 06* Cells At Baseline After KB408** Additional molecular data from cys
Slide 15: Ophthalmology Expansion Underway Starting with B-VEC Eye Drops KB803
Ophthalmology Expansion Underway Starting with B-VEC Eye Drops KB803 KB803 for Ocular Complications of DEB KB801 for Neurotrophic Keratitis ✓ Repeat administration of B-VEC eye drops under ✓ Safety of repeat vector administration clinically compassionate use previously shown to be well tolerated dem
Slide 16: KB801 Enables Sustained, Localized NGF Expression in Corneal Epithelium
KB801 Enables Sustained, Localized NGF Expression in Corneal Epithelium NGF Protein Levels Head to Head PK Study #1 • Study conducted in BALB/c mice, 6-10 weeks of age, with eyes wounded using crosshatch technique • Test conditions, each administered as 3 µL eyedrop • KB801: 4.6 x 107 PFU • Dilution
Slide 17: KB801 Enables Sustained, Localized NGF Expression in Corneal Epithelium
KB801 Enables Sustained, Localized NGF Expression in Corneal Epithelium NGF Protein Levels Head to Head PK Study #2 • Study conducted in BALB/c mice, 6-10 weeks of age, with eyes wounded using crosshatch technique • Test conditions, each administered as 3 µL eyedrop • KB801: 4.6 x 107 PFU • Dilution
Slide 18: Keeping Pace with Ambitious 2025 Plans Plus Adding New KB801 Program
Keeping Pace with Ambitious 2025 Plans Plus Adding New KB801 Program Next readout: Molecular data for KB407 ❑ Top-line readout from KB407 Phase 1 for cystic fibrosis including molecular data from Cohort 3 patients Mid 2025 May 2025 2H 2025 ❑ First patient dosed in Phase 3 study evaluating KB803 (oph
Slide 19: First Quarter 2025 Financial Highlights
First Quarter 2025 Financial Highlights Cash and investments: $765.3 million as of March 31, 2025 Three Months Ended March 31 2025 2024 Product revenue, net $88.2M $45.3M Cost of goods sold $5.0M $2.4M Gross margin 94% 95% R&D expenses $14.3M $11.0M SG&A expenses $32.7M $26.1M Stock-based compensati
Slide 20: Continued Execution to Deliver Shareholder Value in 2025
Continued Execution to Deliver Shareholder Value in 2025 ▪ EU launch bolsters VYJUVEK franchise ▪ Four clinical readouts in 2025 ▪ Financial stability gives optionality to maximize shareholder value EU, European Union Krystal | 20
Slide 21: Developing Genetic Medicines to Treat Diseases with High Unmet Medical Needs
Developing Genetic Medicines to Treat Diseases with High Unmet Medical Needs © Copyright 2025 Krystal Biotech, Inc. All rights reserved.