KRYS - Why Krystal Biotech Stock Is Retreating Today
Shares of the gene therapy specialist Krystal Biotech (NASDAQ: KRYS) are down by 13.6% as of 1:38 p.m ET Wednesday afternoon. The biotech's shares are sinking today in response to a $200 million public offering.
More specifically, Krystal announced yesterday that it plans an offering of 2,666,667 shares of its common stock at $75 per share. This sizable capital raise follows in the wake of the company's late-stage trial success for its redosable gene therapy Vyjuvek as a treatment for the rare skin condition known as dystrophic epidermolysis bullosa (aka dystrophic EB).
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Why Krystal Biotech Stock Is Retreating Today