Krystal Biotech posts 2025 VYJUVEK revenue update

Krystal Biotech furnished preliminary 2025 financial figures ahead of a major healthcare conference.

Rhea-AI Filing Summary

Krystal Biotech furnished preliminary 2025 financial figures ahead of a major healthcare conference. The company expects total net product revenue from its VYJUVEK therapy to be between $106–$107 million for the fourth quarter of 2025 and between $388–$389 million for the full year 2025. Krystal also expects to end 2025 with approximately $955 million in cash, cash equivalents and investments, indicating a substantial liquidity position.

The company’s press release also outlines its rare disease strategic vision, 2026 corporate objectives, and preliminary 2026 combined non-GAAP R&D and SG&A expense guidance. All reported figures are unaudited and subject to change as the year-end 2025 audit is still in progress.

Insights

Equity research analyst

Krystal Biotech shares strong preliminary VYJUVEK sales and a large cash balance.

Krystal Biotech reports preliminary VYJUVEK net product revenue of $106–$107 million for Q4 2025 and $388–$389 million for full-year 2025. These numbers highlight that commercial uptake of VYJUVEK has scaled to a meaningful revenue base by the end of 2025.

The company also expects about $955 million in cash, cash equivalents and investments as of December 31, 2025, which suggests substantial financial resources to support its rare disease strategy and planned R&D and SG&A spending in 2026. The same communication includes a strategic vision and non-GAAP operating expense guidance, framing how management plans to deploy this capital.

All the figures are expressly labeled as unaudited and preliminary, with the year-end 2025 audit still ongoing. Actual reported results could change once the audit is complete, so the ultimate impact on valuation will depend on the final audited numbers and any further detail provided in upcoming periodic reports.

8-K Event Classification

2 items: 2.02, 7.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What preliminary 2025 VYJUVEK revenue did Krystal Biotech (KRYS) disclose?

Krystal Biotech expects total net product revenue from VYJUVEK of between $106 million and $107 million for Q4 2025 and between $388 million and $389 million for full-year 2025.

What cash balance does Krystal Biotech (KRYS) expect as of December 31, 2025?

The company expects to have approximately $955 million in cash, cash equivalents and investments as of December 31, 2025.

Are Krystal Biotech’s 2025 financial figures final and audited?

No. The disclosed 2025 figures are described as unaudited and preliminary, and the audit of the year-end 2025 financial statements is ongoing and could change these numbers.

What additional information did Krystal Biotech provide alongside the preliminary 2025 results?

Krystal Biotech’s press release also presents its rare disease strategic vision, 2026 corporate objectives, and preliminary 2026 combined non-GAAP R&D and SG&A expense guidance.

In what context did Krystal Biotech (KRYS) release this preliminary financial information?

The preliminary figures were released ahead of Krystal Biotech’s January 12, 2026 presentation at the 44th Annual J.P. Morgan Healthcare Conference and related discussions with investors.

Does the 8-K state that Krystal Biotech’s preliminary numbers are incorporated into other SEC filings?

The company states that the information in Items 2.02 and 7.01 and Exhibit 99.1 is furnished, not filed, and is not incorporated into other SEC filings except where specifically referenced.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 01/12/2026 - 07:50 AM Learn about SEC filing dates

FALSE000171127900017112792026-01-122026-01-12

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549 

FORM 8-K 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 11, 2026

KRYSTAL BIOTECH, INC.

(Exact name of registrant as specified in its charter)

Delaware

001-38210

82-1080209

(State or other jurisdiction of incorporation)

(Commission File Number)

(IRS Employer Identification Number)

2100 Wharton Street, Suite 701

Pittsburgh, Pennsylvania 15203

(Address of principal executive offices, including Zip Code)

Registrant’s telephone number, including area code: (412) 586-5830

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock

KRYS

Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

Item 2.02    Results of Operations and Financial Condition.

On January 11, 2026, Krystal Biotech, Inc., a Delaware corporation (the “Company”), issued a press release (the “Press Release”) in advance of (i) the Company’s presentation on January 12, 2026 at the 44th Annual J.P. Morgan Healthcare Conference (the “Conference”) and (ii) the Company’s participation in the Conference, including management’s discussions with investors and others. The Press Release contains certain preliminary financial information as of and for the fiscal year ended December 31, 2025. Specifically, the Press Release states that (i) the Company expects total net product revenues for VYJUVEK to be between $106 million and $107 million for the fourth quarter of 2025, and between $388 million and $389 million for the full year 2025, and (ii) the Company’s expectation with respect to its cash, cash equivalents and investments as of December 31, 2025, is approximately $955 million. In addition, the Press Release contains the Company’s rare disease strategic vision and 2026 corporate objectives, as well as preliminary 2026 combined non-GAAP R&D and SG&A expense guidance. A copy of the Press Release is furnished with this Current Report on Form 8-K as Exhibit 99.1.

The preliminary financial information in this Item 2.02 is unaudited and preliminary and does not present all information necessary for an understanding of the Company’s financial condition as of December 31, 2025 and its results of operations for the three months and year ended December 31, 2025. The audit of the Company’s financial statements for the year ended December 31, 2025 is ongoing and could result in changes to the information in this Item 2.02.

Item 7.01    Regulation FD Disclosure.

The disclosure in Item 2.02 above is also being furnished under this Item 7.01.

The information contained in Items 2.02 and 7.01, as well as Exhibit 99.1, to this Current Report on Form 8-K shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing with the Securities and Exchange Commission by the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing, except as expressly set forth by specific reference in such filing.

Item 9.01    Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.						Description
99.1						Press Release, dated January 11, 2026
104						Cover Page Interactive Data file (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: January 12, 2026

KRYSTAL BIOTECH, INC.

By:

/s/ Krish S. Krishnan

Name:

Krish S. Krishnan

Title:

Chairman and Chief Executive Officer