Krystal Biotech Inc (NASDAQ:KRYS) on Tuesday delivered fourth-quarter results that came in ahead of Wall Street forecasts, though its shares moved lower in early trading.
The stock declined 2.33% in pre-market activity despite the earnings beat.
The gene therapy specialist reported adjusted earnings per share of $1.70, surpassing analyst expectations of $1.58 by $0.12. Quarterly revenue reached $107.1 million, modestly above the $106.16 million consensus and up 17.5% from $91.1 million in the same period a year earlier.
Sales were driven entirely by VYJUVEK, the company’s therapy for dystrophic epidermolysis bullosa, which generated $107.1 million during the quarter.
Krystal said it has obtained more than 660 reimbursement approvals for VYJUVEK across the United States and continues to report broad nationwide patient access.
“In 2025, Krystal made meaningful progress on our mission to serve patients with dystrophic epidermolysis bullosa around the world, while continuing to build the global infrastructure required to scale our impact,” said Krish S. Krishnan, Chairman and CEO of Krystal Biotech.
The company closed the quarter with $955.9 million in cash, cash equivalents, and investments as of December 31, 2025, underscoring a strong liquidity position. Gross margin remained high at 94% for the fourth quarter.
Krystal also pointed to regulatory advances, including the FDA’s Regenerative Medicine Advanced Therapy designation for KB707 in advanced non-small cell lung cancer and Fast Track Designation for KB111 in Hailey-Hailey disease.
Looking ahead to fiscal 2026, the company expects non-GAAP research and development as well as selling, general and administrative expenses to range between $175 million and $195 million.