KRYS - Krystal Biotech announces $160M private placement

2023-05-22 07:31:57 ET

• A biotechnology company, Krystal Biotech ( NASDAQ: KRYS ) entered into a securities purchase agreement for the sale of ~1.73M shares at $92.50 per share in a private placement to certain qualified institutional buyers.
• Gross proceeds are expected to be ~$160M.
• The transaction is expected to close on May 22, 2023.
• “These additional funds, together with our existing cash, cash equivalents and investments, should allow us to fund the VYJUVEK launch, future operations, and the advancement of our growing pipeline through the end of 2026. It also allows us to retain the optionality of monetizing the Priority Review Voucher we received in connection with the FDA approval of VYJUVEK at a future date with favorable terms and without any dilution,” said Krish S Krishnan, Chairman and CEO

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