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Krish S. Krishnan, President and CEO of Krystal Biotech , Inc. (NASDAQ:KRYS), reported the sale of company shares totaling approximately $4.12 million. The transactions, executed on December 13, involved multiple sales of common stock at prices ranging from $163.069 to $171.6288 per share. The sales come as the $4.69 billion market cap company maintains impressive gross profit margins of 92.55%, according to InvestingPro data.
The sales were conducted under a pre-established Rule 10b5-1 trading plan, which was adopted on June 13, 2024. This plan outlines quarterly sales of 25,000 shares with a limit price of $150.00 per share and is set to conclude on September 13, 2025. Despite recent insider selling and a 11.67% decline over the past week, the stock remains undervalued according to InvestingPro's Fair Value analysis, with shares still up 31.9% year-to-date.
Following these transactions, Krishnan holds 1,537,262 shares directly. Additionally, shares are held indirectly through family trusts and by his spouse, Suma M. Krishnan, who also executed sales under a similar trading plan. These indirect sales amounted to approximately $4.01 million, with prices ranging from $163.0435 to $170.4303 per share. InvestingPro subscribers can access 12 additional key insights about KRYS, including detailed financial health metrics that earned the company a "GREAT" overall rating.
In other recent news, Krystal Biotech has seen significant developments in its operations and financials. The company reported a substantial increase in earnings per share in Q3 2024, moving from $0.54 in Q2 to $0.95, largely driven by significant revenue growth from its lead product, VYJUVEK, which generated net revenues of $83.8 million in Q3. BofA Securities maintained their Buy rating on Krystal Biotech, reinforcing the potential of the company's product candidates KB407 and KB408, developed for cystic fibrosis and alpha-1 antitrypsin deficiency respectively.
The company also announced plans for expansion into Europe and Japan, with the anticipated launch of its gene therapy product, B-VEC, in both regions in 2025. This comes as the company expects to receive an opinion from the European Medicines Agency's Committee for Medicinal Products for Human Use in the first quarter of 2025.
Krystal Biotech reported a robust financial position, with $374 million in cash and investments at the end of Q3 2024, and anticipates reaching a $300 million milestone payment related to the PeriphaGen settlement in early 2025. These recent developments highlight Krystal Biotech's strong financial health and promising growth prospects in the biotechnology sector.
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