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Krystal Biotech Q4 Earnings Beat Estimates, Sales Miss, Stock Up
KRYSKrystal(KRYS) ZACKS·2025-02-20 14:55

Core Viewpoint - Krystal Biotech reported strong earnings per share for Q4 2024, driven by the growing traction of its gene therapy product, Vyjuvek, despite missing revenue expectations [1][2]. Financial Performance - Q4 2024 earnings per share were 1.52,exceedingtheZacksConsensusEstimateof1.52, exceeding the Zacks Consensus Estimate of 1.29, compared to 0.30inthesamequarterlastyear[1]−TotalrevenuesforQ42024were0.30 in the same quarter last year [1] - Total revenues for Q4 2024 were 91.1 million, falling short of the Zacks Consensus Estimate of 97million,withrevenuessolelyfromVyjuveksales,upfrom97 million, with revenues solely from Vyjuvek sales, up from 42.1 million in the year-ago quarter [2] - For the full year 2024, total revenues reached 290.5million,slightlybelowtheZacksConsensusEstimateof290.5 million, slightly below the Zacks Consensus Estimate of 292.1 million, compared to 50.7millionin2023[8]−Full−yearearningspersharewere50.7 million in 2023 [8] - Full-year earnings per share were 3, surpassing the Zacks Consensus Estimate of 2.9,comparedto2.9, compared to 0.39 in the previous year [8] Product Development and Market Access - Vyjuvek, approved by the FDA in 2023, is the first revocable gene therapy for treating dystrophic epidermolysis bullosa (DEB) [3] - As of February 2025, Krystal Biotech secured over 510 reimbursement approvals for Vyjuvek in the U.S., achieving positive access determinations for 97% of lives covered under commercial and Medicaid plans [4] - The gross margin for the reported quarter was 95%, with patient adherence to weekly treatment at 85% as of the end of 2024 [4] Research and Development - Research and development expenses for Q4 2024 were 13.5million,a1913.5 million, a 19% increase year over year, while selling, general, and administrative expenses totaled 31.3 million, up 26% from the previous year [7] - The company is advancing a robust pipeline of investigational genetic medicines across various fields, including respiratory, oncology, dermatology, and aesthetics [10][11][12][13][14][15][16] Market Reaction - Despite mixed earnings results, Krystal Biotech's shares rose by 12.4% following the announcement, attributed to record revenue growth from Vyjuvek sales [5] - Over the past three months, shares of Krystal Biotech have decreased by 3.4%, while the industry has seen a growth of 0.8% [5]