Krystal Biotech Q3 Surge, VYJUVEK Expansion

Krystal Biotech reported Q3 2025 net product revenue of $97.8 million for VYJUVEK, up about 17% year‑over‑year, with a 96% gross margin and net income of $79.4 million. Since launch VYJUVEK has generated over $623 million in net revenue, with more than 615 U.S. reimbursement approvals, over 450 U.S. prescribers and patient compliance in the low‑80s. The company launched VYJUVEK in Germany and France in 2025 and in Japan in October 2025, has secured early reimbursed access and an ASMR III appraisal in France, and is conducting pricing negotiations across Europe with German discussions expected to continue into 2H 2026. Krystal is building a specialty distributor network for the Middle East, Turkey and Central/Eastern Europe and is preparing regulatory filings for the UK and Switzerland; it held $864.2 million in cash and investments. The company said margin and per‑unit cost improvements reflect U.S. manufacturing optimizations and projected FY2025 non‑GAAP R&D and SG&A of $145–155 million as it expands global commercialization. Krystal is advancing its pipeline and platform strategy, receiving an FDA platform therapy designation for its HSV‑1 platform (applicable to KB801) and progressing programs including KB803 and KB407, with interim data expected.