Earnings ·
Reports Q3 net income of $63.1M and authorizes $400 million share repurchase program
KRYSKrystal Biotech, Inc.
Krystal Biotech reported third-quarter net income of $63.1 million, or $2.05 per diluted share, on product revenue of $127.3 million, a 30% increase year-over-year driven by VYJUVEK sales. The company ended the quarter with $1.2 billion in cash and investments. Additionally, the board authorized a new share repurchase program allowing for up to $400 million in buybacks over the next two years. Krystal Biotech is a biotechnology company focused on developing genetic medicines.