Krystal Biotech raises $160M in PIPE at $92.50/share for VYJUVEK launch and pipeline

Krystal Biotech, Inc.

Sold 1,729,729 shares at $92.50 each to institutional investors; gross proceeds ~$160M.
PIPE led by Avoro Capital Advisors and Redmile Group, with Braidwell LP and Frazier Life Sciences.
Proceeds to fund VYJUVEK commercialization, clinical pipeline, business development, and working capital.
Company expects to fund operations through end of 2026; retains optionality on Priority Review Voucher.
Registration statement for resale of shares to be filed within 60 days of closing.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Krystal Biotech, Inc. entered into Securities Purchase Agreement with certain institutional investors valued at approximately $160 million (effective 2023-05-21).

Action: entry
Agreement: equity purchase
Counterparty: certain institutional investors
Value: approximately $160 million
Effective: 2023-05-21

Exact text from the filing

On May 21, 2023, Krystal Biotech, Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with certain institutional investors (collectively, the “Investors”) to issue and sell at closing an aggregate of 1,729,729 shares of common stock of the Company, par value $0.00001 per share (the “Common Stock”), at a price of $92.50 per share for an aggregate purchase price of approximately $160 million (the “Investment”).

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Krystal Biotech, Inc. filing history →

Source: SEC EDGAR

accession 0001711279-23-000039

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