Krystal Biotech Inc. 2026年季度报告

SECURITIES AND EXCHANGE COMMISSION PART I. FINANCIAL INFORMATION Item 1.Financial Statements Condensed Consolidated Balance Sheets as ofMarch31, 2026 (unaudited) andDecember31, 2025Condensed Consolidated Statements of Operations and Comprehensive Income for the Three Months EndedMarch31, 2026 and2025 (unaudited)Condensed Consolidated Statements of Stockholders’ Equity for the Three Months EndedMarch31, 2026 and2025 (unaudited) Condensed Consolidated Statements of Cash Flows for the Three Months EndedMarch31, 2026 and 2025(unaudited)Notes to Condensed Consolidated Financial Statements (unaudited)Item 2.Management’s Discussion and Analysis of Financial Condition and Results of OperationsItem 3.Quantitative and Qualitative Disclosures About Market RiskItem 4.Controls and Procedures PART II. OTHER INFORMATION Item 1.Legal ProceedingsItem 1A.Risk FactorsItem 2.Unregistered Sales of Equity Securities and Use of Proceeds SIGNATURES Krystal Biotech, Inc.Notes to Condensed Consolidated Financial Statements 1.Organization Krystal Biotech, Inc. (together with its wholly-owned subsidiaries, the “Company,”or“we”or other similar pronouns), a DelawareC-corporation, is a fully integrated, global, commercial-stage biotechnology company. We are focused on the discovery, development,manufacturing, and commercialization of genetic medicines to treat diseases with high unmet medical needs. Using our patented gene therapytechnology platform that is based on engineered herpes simplex virus-1 (“HSV-1”), we create vectors that efficiently deliver therapeutictransgenes to cells of interest in multiple organ systems. The cell’s own machinery then transcribes and translates the transgene to treat the Liquidity As of March31, 2026, the Company had a retained earnings balance of $80.1 million. Our operating profitability is dependent uponthe continued successful commercialization of VYJUVEK, our U.S. Food and Drug Administration (“FDA”), European Commission (“EC”),and Japan’s Ministry of Health, Labour, and Welfare (“MHLW”) approved product, as well as successful development, approval andcommercialization of our product candidates. Management intends to fund future operations through its on hand cash and cash equivalents and The Company is subject to risks common to companies in the biotechnology industry, including, but not limited to, the failure ofproduct candidates in clinical and preclinical studies, the development of competing product candidates or other technological innovations bycompetitors, dependence on key personnel, protection of proprietary technology, compliance with government regulations and the ability tocommercialize product candidates. The Company expects to incur significant costs in connection with, among other things, advancing its 2.Summary of Significant Accounting Policies Basis of Presentation The accompanying condensed consolidated financial statements have been prepared in conformity with generally acceptedaccounting principles in the United States of America (“GAAP”). In the opinion of management, all adjustments, which consist of all normal Certain prior period amounts have been reclassified to conform to the current period presentation. The reclassified amounts have noimpact on the Company’s previously reported financial position or results of operations. The results of operations for the interim periods are not necessarily indicative of the results of operations to be expected for the fullyear. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimatesand assumptions that affect the reported amounts in the condensed consolidated financial statements and accompanying notes. Actual resultscould materially differ from those estimates. Management considers many factors and applies significant judgment in developing the estimatesand assumptions that are used in the preparation of these financial statements. If actual results in the future vary from the Company’s Summary of Significant Accounting Policies See Note 2 to our consolidated financial statements included in the 2025 10-K. There were no material changes to the Company’ssignificant accounting policies during the three months ended March31, 2026. Recently Issued Accounting Pronouncements, Not Yet Adopted There were no accounting pronouncements issued or adopted during the three months ended March31, 2026 that had or are expectedto have a material impact on the Company’s condensed consolidated financial statements. In November 2024, the Financial Accounting Standards Board (“FASB”) issuedASU 2024-03 Income Statement—ReportingComprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses.Thisstandard calls for enhanced disclosures about components of expense captio