Krystal Biotech, Inc. · NASDAQ:KRYS
Krystal Biotech — Q1 2024 Earnings Presentation
15 slides from Krystal Biotech's earnings presentation, May 6, 2024
Slide 1: First Quarter 2024 Financial Results and Business Update
First Quarter 2024 Financial Results and Business Update May 6, 2024 © Copyright 2024 Krystal Biotech, Inc. All rights reserved.
Slide 2: Forward Looking Statements and Disclosures
Forward Looking Statements and Disclosures This presentation, which includes the accompanying oral presentation, contains forward-looking statements that involve substantial risks and uncertainties. Any statements in this presentation about future expectations, plans and prospects for Krystal Biotec
Slide 3: Breakthrough 2023 and Strong Start to 2024
Breakthrough 2023 and Strong Start to 2024 ▪ Fundamentals of VYVUVEK US launch continue to be strong ▪ Building approval and launch momentum in EU and Japan ▪ 6 active clinical trials with multiple readouts in 2H 2024 ▪ Strong Cash Position – $622.3M in cash and investments – Non-GAAP R&D and SG&A 2
Slide 4: Delivering Quarter Over Quarter Growth Despite Onetime Headwinds
Delivering Quarter Over Quarter Growth Despite Onetime Headwinds VYJUVEK Net Revenue ($M) ▪ Gross margins of 95% in 1Q ▪ Gross-to-net adjustments in 1Q were 14% $42.1 $45.3 ▪ Approximately 400 free vials dispensed in 1Q due to onetime events ▪ Revenue includes accrual for subset of patients on comme
Slide 5: Steady Growth in Reimbursement Approvals Underpins Strong U.S. Launch
Steady Growth in Reimbursement Approvals Underpins Strong U.S. Launch Over 330 Reimbursement Approvals To Date for VYJUVEK Patients 11% 96% 49% Percentage of Covered Lives under Commercial and Medicaid Plans 40% with Positive Access Medicare or Other Medicaid Commercial Metrics as of April 2024 Krys
Slide 6: Reimbursement Approvals Across All Ages and for DDEB and RDEB Alike
Reimbursement Approvals Across All Ages and for DDEB and RDEB Alike Approvals Split By Approvals Split By DEB Subtype Age Group DDEB 21% 21 Years and Over 44% 11 to 20 Years RDEB 24% 79% 10 Years and Under 32% Metrics as of April 2024 Krystal | 6
Slide 7: Strong Home Dosing Demand Continues and Supports High Compliance
Strong Home Dosing Demand Continues and Supports High Compliance VYJUVEK Site of Care (April 2024) 3% Patient Compliance (Through Q1 2024) Home Treatment In Office Treatment 91% 97% - VYJUVEK Patient Ambassador Krystal | 7
Slide 8: Deploying Proven Strategies to Drive Long-Term Growth
Deploying Proven Strategies to Drive Long-Term Growth Claims Monitoring and Alerts ▪ ▪ Weekly alerts to find new patients and enable targeted field deployments Future opportunities to expand to DEB adjacent claims codes 3,000 Estimated U.S. DEB Patients Healthcare Professional Education ▪ Peer-to-pe
Slide 9: Sharing the Patient Experience on VYJUVEK
Sharing the Patient Experience on VYJUVEK Krystal | 9
Slide 10: Key Trends Expected to Reinforce VYJUVEK Leadership in DEB
Key Trends Expected to Reinforce VYJUVEK Leadership in DEB Patients seeing compounding benefits of ✓ corrective therapy as they treat more wounds Establishing home administration as the ✓ standard of care for patients with DEB Growing familiarity with VYJUVEK enabling ✓ broader utilization including
Slide 11: Another Quarter of Steady Progress Towards Ex-U.S. Registrations and Launch
Another Quarter of Steady Progress Towards Ex-U.S. Registrations and Launch Europe ▪ Marketing authorization application validated in November 2023 ▪ EMA manufacturing facility 2024 inspections completed in 2025 February 2024 and GMP Europe Japan certification expected 2H 2024 Japan ▪ Received Orpha
Slide 12: Five Active Trials Progressing Well With Readouts Starting Later This Year
Five Active Trials Progressing Well With Readouts Starting Later This Year Intratumoral KB707 for Injectable Solid Tumors KB407 for Cystic Fibrosis Cleared first two dose levels in Phase 1 OPAL-1 and Completed dosing in Phase 1 CORAL-1 Cohort 2, fully enrolled third, no DLTs or Grade 3+ related AEs
Slide 13: First Quarter 2024 Financial Highlights
First Quarter 2024 Financial Highlights Cash and investments: $622.3 million as of March 31, 2024 Three months ended Three months ended ($ in millions) March 31, 2024 March 31, 2023 Product revenue, net $45.3M - Cost of goods sold $2.4M - R&D expenses $11.0M $12.3M SG&A expenses $26.1M $24.0M Stock-
Slide 14: Validating the Breadth of Krystal's Redosable Gene Therapy Platform
Validating the Breadth of Krystal’s Redosable Gene Therapy Platform Indication Payload Preclinical Phase 1/2 Phase 3 Commercial Marketed Dystrophic epidermolysis bullosa (DEB) COL7A1 FDA Approved May 2023 in the U.S. KB105 Autosomal recessive congenital ichthyosis (ARCI) TGM1 KB104 Netherton syndrom
Slide 15: Developing Genetic Medicines to Treat Diseases with High Unmet Medical Needs
Developing Genetic Medicines to Treat Diseases with High Unmet Medical Needs © Copyright 2024 Krystal Biotech, Inc. All rights reserved.