Microvast Holdings announces departure of chief financial officer
PITTSBURGH - Jeune Aesthetics, Inc., a subsidiary of Krystal Biotech, Inc. (NASDAQ: KRYS), announced the appointment of Marc Forth as its new Chief Executive Officer, effective today. According to InvestingPro data, Krystal Biotech currently maintains a market capitalization of $4.78 billion and has demonstrated remarkable financial strength with a "GREAT" overall health score. Mr. Forth, a seasoned professional with over three decades of experience in the healthcare industry, steps into the role with a background in building innovative companies and commercializing prominent brands such as BOTOX®.
Before his appointment, Mr. Forth has been contributing to Jeune's strategic direction as a member of its board since February 2021. His previous roles include leadership positions at AEON Biopharma, where he managed the clinical development program for botulinum toxin type A complex agent ABP-450, and Allergan PLC, where he was instrumental in the commercial success of BOTOX® Therapeutic and BOTOX® Cosmetic.
Krish S. Krishnan, Chairman and CEO of Krystal Biotech, expressed confidence in Forth's ability to lead Jeune through its next growth phase, emphasizing his extensive leadership experience and the value he brings to the rejuvenative aesthetics platform.
Jeune Aesthetics leverages Krystal's gene-delivery platform, which has been clinically validated by the FDA, to develop treatments that fundamentally address the biology of aging skin. The company operates within a niche market of rejuvenative aesthetics, aiming to create long-term value and establish itself as a leader in the field.
Krystal Biotech, Jeune's parent company, is a commercial-stage biotechnology firm that has successfully launched VYJUVEK®, the first redosable gene therapy, and FDA-approved treatment for dystrophic epidermolysis bullosa. The company has a diverse pipeline of genetic medicines in development across various medical areas, including respiratory, oncology, dermatology, ophthalmology, and aesthetics. InvestingPro analysis reveals impressive financial metrics, including a 93% gross profit margin and substantial revenue growth of 473% over the last twelve months. For deeper insights into Krystal Biotech's performance and potential, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
This leadership transition comes at a time when Jeune is poised to capitalize on the growing demand for advanced treatments targeting aging skin. The company's focus on innovation and Mr. Forth's leadership are expected to drive its investment and growth strategy moving forward. With analyst price targets ranging from $195 to $245, and multiple positive indicators identified by InvestingPro, including strong cash position and impressive growth metrics, the company appears well-positioned for future expansion.
The information reported is based on a press release statement from Krystal Biotech, Inc.
In other recent news, Krystal Biotech reported its financial results for the fourth quarter of 2024, revealing an earnings per share (EPS) of $1.52, which exceeded forecasts. However, the company's revenue came in at $91.1 million, slightly below expectations. Despite the revenue miss, the company's financial performance was strong, with a year-end cash reserve of $749.6 million. The success of Krystal Biotech's lead product, VYJUVEK, was highlighted, with over 510 reimbursement approvals secured nationwide. The company is preparing for its initial launch of VYJUVEK in Europe, targeting a mid-2025 release in Germany and subsequent launches in other European countries, including France. Analysts from Jefferies and H.C. Wainwright have maintained their positive outlook on Krystal Biotech, with Jefferies initiating a Buy rating and a $245 price target, while H.C. Wainwright reiterated its Buy rating with a $221 target. The European Medicines Agency's Committee for Medicinal Products for Human Use recently provided a favorable opinion for VYJUVEK's approval, with a final decision expected in 2025. These developments underscore Krystal Biotech's ongoing growth and strategic expansion efforts in the gene therapy market.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.