KRYS - Krystal Biotech to raise $200M in stock offering

Krystal Biotech (NASDAQ:KRYS) trades 5.4% higher after hours on commencing a $200M underwritten public offering of its common stock; company and certain selling stockholders intend to grant the underwriters a 30-day option to purchase up to an additional $30M of shares. Offer size, terms have not yet been decided. Selling stockholders will be offering 200K shares related to the exercise of the underwriters' option to purchase additional shares. Net proceeds along with its existing cash, cash equivalents and short-term investments will be used for preparing for potential commercialization of VYJUVEK for dystrophic epidermolysis bullosa, if approved, advance the clinical development of KB105 in TGM1-deficient ARCI and preclinical development of KB104 for Netherton syndrome, advance development of KB407 for cystic fibrosis and KB408 for alpha-1 antitrypsin deficiency and accelerate the company’s emerging respiratory pipeline.

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Krystal Biotech to raise $200M in stock offering