Q4 2024 Krystal Biotech Inc Earnings Call Transcript
Key Points
- Krystal Biotech Inc (KRYS) reported a strong year in 2024 with significant progress in the VYJUVEK US launch, which is tracking in the top tier of rare disease launches.
- The company demonstrated the ability to safely and repeatedly deliver genes to the lung using a nebulizer, validating the lung as a second target tissue for their platform.
- Net income per share increased to $3.12 in 2024 from $0.40 in 2023, marking the sixth straight quarter of positive EPS and fourth straight quarter of sequential earnings growth.
- Krystal Biotech Inc (KRYS) achieved $341 million in net revenue within 18 months of launch, with sequential revenue growth for six straight quarters.
- The company has a strong financial position with $749.6 million in total cash plus short-term and long-term investments, providing a solid foundation for future growth.
- The company faces challenges with the timing of patient treatment initiation, with an average turnaround time of 45 to 60 days from initial interest to starting treatment.
- There is a lag from prescription to approval due to the availability of genetic test results and prescriber familiarity with access pathways.
- Krystal Biotech Inc (KRYS) anticipates increased operating expenses in 2025, driven by planned commercial launches outside the United States and expanded pipeline programs.
- The company is preparing for potential competition in the DEB market, which could impact market share and sales growth.
- The EU regulatory process experienced delays due to the need for additional documentation and training materials to support a favorable label for VYJUVEK.
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Thank you for standing by and welcome to the Krystal Biotech Q4 2024 earnings call. (Operator Instructions) As a reminder, today's conference is being recorded. I would now like to hand the conference over to your host, Stephane Paquette, Vice President of Corporate Development. You may begin.
Good morning and thank you all for joining today's call. Earlier today, we released our financial results for the fourth quarter and full year of 2024. The press release is available on our website at www.krystalbio.com. We also filed our earnings 8-K and 10-K with the SEC earlier today.
Joining me today will be Krish Krishnan, Chairman and Chief Executive Officer
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