FDA Approves First Redosable Gene Therapy, Krystal Biotech's Treatment For Skin Blistering Disorder
Portfolio Pulse from Vandana Singh
The FDA has approved Krystal Biotech's Vyjuvek, the first-ever redosable gene therapy for the treatment of dystrophic epidermolysis bullosa (DEB). Vyjuvek is expected to be available in the US in Q3 2023. Krystal Biotech has also announced a private placement of 1.73 million shares at $92.50, raising approximately $160 million.
May 22, 2023 | 12:10 pm
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Krystal Biotech's FDA-approved Vyjuvek is the first redosable gene therapy for DEB. The company has raised $160 million through a private placement.
The FDA approval of Vyjuvek is a significant milestone for Krystal Biotech, as it is the first-ever redosable gene therapy and the only FDA-approved medicine for DEB. This approval will likely boost the company's reputation and market position. Additionally, the successful private placement of 1.73 million shares at $92.50, raising approximately $160 million, will provide the company with funds to further develop and market Vyjuvek. Despite the short-term stock price decline, the long-term prospects for the company are positive.
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