UPDATE: Krystal Biotech (KRYS) Prices 2.275M Share Common Offering at $55/Sh

Krystal Biotech, Inc. (NASDAQ: KRYS) today announced that it has priced the previously announced underwritten public offering of 2,275,000 shares of its common stock, at a public offering price of $55.00 per share. The Company granted the underwriters a 30-day option to purchase up to an additional 341,250 shares of its common stock. The gross proceeds to the Company from this offering are expected to be approximately $125.1 million, before deducting the underwriting discounts and commissions and other estimated offering expenses payable by the Company. The offering is expected to close on or about May 21, 2020, subject to satisfaction of customary closing conditions.

Cowen, Evercore ISI, Guggenheim Securities and William Blair are acting as joint book-running managers for the offering. Chardan is acting as lead manager for the offering and H.C. Wainwright & Co. is acting as co-manager for the offering.

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 advance B-VEC into and through a Phase 3 clinical trial; (ii) to advance the clinical development of KB105; (iii) to advance the pre-clinical and clinical development of KB104, KB301 and KB407; (iv) 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 (v) the balance for working capital and general corporate purposes, including research and development expenses and capital expenditures.

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