Krystal Biotech reported a strong financial performance for the fourth quarter and full year of 2024, driven by significant revenue growth and advancements in its clinical pipeline. The company recorded $91.1 million in net product revenue for the quarter, representing a 116% increase from the same period in 2023, while full-year revenue grew 473% to $290.5 million. The company ended the year with a robust balance sheet, holding $749.6 million in cash and investments.

Key developments included the continued rollout of VYJUVEK for dystrophic epidermolysis bullosa, with over 510 reimbursement approvals secured in the U.S. and strong patient compliance. Regulatory progress is also ongoing, with a European marketing authorization decision expected in the first quarter of 2025 and a Japan New Drug Application review anticipated to conclude in the second half of the year.

The company advanced multiple clinical programs across ophthalmology, respiratory diseases, oncology, aesthetics, and dermatology. Notable updates included the initiation of a Phase 3 study for KB803 targeting ocular complications of DEB, positive initial results from the KB407 study for cystic fibrosis, and promising early efficacy data from the KB707 trial in non-small cell lung cancer.

On the financial side, Krystal Biotech posted a fourth-quarter net income of $45.5 million, up from $8.7 million in 2023, and a full-year net income of $89.2 million, compared to $10.9 million the prior year. The company continues to invest in research and development while maintaining high gross margins, positioning itself for further expansion in 2025.