Krystal Biotech Files Q3 2024 10-Q

TL;DR

Krystal Biotech's Q3 2024 10-Q is in. Check for updates on their biological product development.

AI Summary

Krystal Biotech, Inc. filed its 10-Q for the period ending September 30, 2024. The company is involved in the development of biological products. Specific financial details and operational updates for the third quarter of 2024 are presented in this filing.

Why It Matters

This filing provides investors and analysts with the latest financial performance and operational status of Krystal Biotech, crucial for understanding the company's progress in the biotechnology sector.

Risk Assessment

Risk Level: medium — Biotechnology companies often carry higher risk due to the inherent uncertainties in drug development and regulatory approvals.

Key Numbers

• 20240930 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
• 20241104 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)

Key Players & Entities

• Krystal Biotech, Inc. (company) — Filer of the 10-Q
• 20240930 (date) — End of the reporting period
• 20241104 (date) — Filing date
• 2100 WHARTON STREET SUITE 701 (address) — Company's business and mailing address
• PITTSBURGH, PA 15203 (address) — Company's business and mailing address

FAQ

Filing Documents

• krys-20240930.htm (10-Q) — 1450KB
• a3q24krysex311.htm (EX-31.1) — 10KB
• a3q24krysex312.htm (EX-31.2) — 10KB
• a3q24krysex321.htm (EX-32.1) — 11KB
• 0001711279-24-000056.txt ( ) — 6252KB
• krys-20240930.xsd (EX-101.SCH) — 37KB
• krys-20240930_cal.xml (EX-101.CAL) — 66KB
• krys-20240930_def.xml (EX-101.DEF) — 162KB
• krys-20240930_lab.xml (EX-101.LAB) — 541KB
• krys-20240930_pre.xml (EX-101.PRE) — 351KB
• krys-20240930_htm.xml (XML) — 851KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements Condensed Consolidated Balance Sheets as of September 30, 2024 (unaudited) and December 31, 2023 3 Condensed Consolidated Statements of Operations and Comprehensive Income for the Three and Nine Months Ended September 30, 2024 and 2023 (unaudited) 4 Condensed Consolidated Statements of Stockholders' Equity for the Three and Nine Months Ended September 30, 2024 and 2023 (unaudited) 5 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023 (unaudited) 7 Notes to Condensed Consolidated Financial Statements (unaudited) 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 31 Item 4.

Controls and Procedures

Controls and Procedures 32

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 33 Item 1A.

Risk Factors

Risk Factors 33 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 71 Item 3. Defaults Upon Senior Securities 71 Item 4. Mine Safety Disclosures 71 Item 5. Other Information 71 Item 6. Exhibits 71

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS Krystal Biotech, Inc. Condensed Consolidated Balance Sheets (unaudited) (in thousands, except par value) September 30, 2024 December 31, 2023 Assets Current assets Cash and cash equivalents $ 373,966 $ 358,328 Short-term investments 214,358 173,850 Accounts receivable, net 97,298 42,040 Inventory 18,581 6,985 Prepaid expenses and other current assets 8,961 6,706 Total current assets 713,164 587,909 Property and equipment, net 156,592 161,202 Long-term investments 105,888 61,954 Right-of-use assets 6,471 7,027 Other non-current assets 203 263 Total assets $ 982,318 $ 818,355 Liabilities and Stockholders' Equity Current liabilities Accounts payable $ 5,580 $ 4,132 Current portion of lease liability 1,292 1,474 Accrued rebates 29,545 5,977 Accrued expenses and other current liabilities 53,110 21,511 Total current liabilities 89,527 33,094 Lease liability 6,184 6,620 Other long-term liabilities 761 — Total liabilities 96,472 39,714 Commitments and contingencies (see note 7) Stockholders' equity Common stock; $ 0.00001 par value; 80,000 shares authorized as of September 30, 2024 and December 31, 2023; 28,757 and 28,237 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively. — — Additional paid-in capital 1,110,481 1,047,830 Accumulated other comprehensive gain 1,512 638 Accumulated deficit ( 226,147 ) ( 269,827 ) Total stockholders' equity 885,846 778,641 Total liabilities and stockholders' equity $ 982,318 $ 818,355 The accompanying notes are an integral part of these condensed consolidated financial statements. 3 Krystal Biotech, Inc. Condensed Consolidated Statements of Operations and Comprehensive Income (unaudited) Three Months Ended September 30, Nine Months Ended September 30, (in thousands, except per share data) 2024 2023 2024 2023 Product revenue, net $ 83,841 $ 8,556 $ 199,376 $ 8,556 Expenses Cost of goods sold 6,684 223 15,112 223

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View this 10-Q filing on SEC EDGAR