Krystal raises $60M following Phase I/II gene therapy readout
On the heels of reporting data for its topical gene therapy, Krystal Biotech Inc. (NASDAQ:KRYS) raised $60 million late Oct. 18 through the sale 3 million shares at $20 in a follow-on underwritten by Cowen, William Blair, Cantor and Chardan. The price is a 7% discount to Krystal's close of $21.41 on Oct. 17, when it proposed the offering after market hours.
Krystal reported interim data on Oct. 15 from the Phase I/II GEM trial showing that topical gene therapy KB103 met all primary efficacy and safety endpoints in two adults with recessive dystrophic epidermolysis bullosa. Shares of Krystal gained 28% to $20 on the readout (see "Krystal's Topical Gene Therapy Meets Endpoints in Two Patients with Skin Blistering Disease")...
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