Transaction Information
Krystal Biotech, Inc. (NASDAQ: KRYS) announced that it has priced the previously announced underwritten public offering of 2,211,538 shares of its common stock at a public offering price of $65.00 per share, which includes 288,461 shares sold upon full exercise of the underwriters' option to purchase additional shares of common stock. The gross proceeds to the company from this offering are expected to be approximately $143 million, before deducting the underwriting discounts and commissions and other estimated offering expenses payable by the company.
The company currently intends to use the net proceeds from this offering together with its existing cash, cash equivalents and short-term investments: (i) to complete the ongoing pivotal trial of B-VEC for DEB and prepare for potential commercialization; (ii) to advance the clinical development of KB105 in TGM1-deficient icthyosis and preclinical development of KB104 for Netherton syndrome; (iii) to advance development of KB407 for cystic fibrosis; (iv) to accelerate the company's emerging respiratory pipeline; (v) to complete development of a good manufacturing practices certified manufacturing facility for scale-up production of the company's pipeline compounds and commencement of operations of that facility; and (vi) the balance for working capital and general corporate purposes, including research and development expenses and capital expenditures.
The offering is being made pursuant to a "shelf" registration statement on Form S-3 (File No. 333-237983) that became effective upon filing with the Securities and Exchange Commission ("SEC") on May 4, 2020.
Ladenburg Thalmann & Co. Inc. acted as co-manager in connection with the offering.
About Krystal Biotech
Krystal Biotech, Inc. (NASDAQ: KRYS) is a pivotal-stage gene therapy company leveraging its novel, redosable gene therapy platform and in-house manufacturing capabilities to develop therapies to treat serious rare diseases. For more information visit www.krystalbio.com
The information and material presented is provided for informational purposes only and are not to be used or considered as an offer or the solicitation of an offer to sell or buy any securities mentioned herein.