Krystal Biotech jumps higher after pipeline updates
Shares of Krystal Biotech (KRYS) are up 4.5% after announcing Monday that it plans to file an IND for lead candidate KB103, a treatment for dystrophic epidermolysis bullosa later this month. Once approved, a Phase 1/2 study will commence. It expects to file an IND for its number two candidate KB105 for lamellar ichthyosis in Q4. CEO COMMENTS: "2018 promises to be a productive and exciting year for Krystal. Our successful IPO last year has positioned us to build a fully integrated company dedicated to discovering, developing and delivering off-the-shelf easy to administer chronic treatments for rare dermatological diseases that provide transformative outcomes to patients and families," said Krish S. Krishnan, CEO of Krystal Biotech. "Our immediate focus is to execute on our planned Phase 1/2 clinical study for our lead product candidate KB103 for treatment of Dystrophic Epidermolysis Bullosa, and to file an IND in the fourth quarter for our second product candidate, KB105 for the treatment of Lamellar Ichthyosis. In parallel, we are building out our infrastructure with the goal of establishing a GMP facility in Pittsburgh, PA in the next 12 months for the production of our pipeline products using our STAR-D platform." PRICE ACTION: Shares of Krystal Biotech are up 4.5% in early afternoon trading, below their intra-day high, when they were up as much as 8%.