Krystal Biotech Q1 2020 Earnings Report
Key Takeaways
Krystal Biotech reported a net loss of $5.3 million, or $0.31 per share, for the first quarter ended March 31, 2020. The company ended the quarter with $186.7 million in cash, cash equivalents and short-term investments. Krystal Biotech is on track to start the B-VEC Phase 3 pivotal study in the first half of 2020.
Ended Q1 2020 with $186.7 million in cash, cash equivalents and short-term investments.
Research and development expenses were $3.5 million for Q1 2020, compared to $3.2 million for Q1 2019.
General and administrative expenses were $2.4 million for Q1 2020, compared to $1.5 million for Q1 2019.
Net losses for Q1 2020 were $5.3 million, or ($0.31) per common share, compared to $4.1 million or ($0.29) per common share in Q1 2019.
Krystal Biotech
Krystal Biotech
Forward Guidance
Krystal Biotech anticipates treating patients across three different clinical trials for skin diseases and conditions and remain committed to developing our pipeline.
Positive Outlook
- Manufacturing batch has been cleared for the upcoming B-VEC Phase 3 pivotal study.
- Presently on track to start the pivotal study in the first half of 2020, barring any COVID-19 delays.
- Encouraged by the pre-clinical data to date on KB407, with potential to treat cystic fibrosis.
- Advance Phase 1/2 study to include pediatric patients on KB105 for the treatment of ARCI, following safety review by the FDA.
- Initiate Phase 1 clinical safety and efficacy study on KB301 for an aesthetic indication.
Challenges Ahead
- Uncertainties inherent in the initiation and conduct of clinical trials.
- Availability and timing of data from clinical trials.
- Uncertainties associated with regulatory review of clinical trials and applications for marketing approvals.
- The unanticipated impact of COVID-19 on Krystal’s business operations, pre-clinical activities and clinical trials.
- Sufficiency of cash resources and need for additional financing.