Krystal Biotech, Inc. 8-K

What Happened
Krystal Biotech, Inc. (KRYS) filed a Form 8-K on Jan. 12, 2026 disclosing a press release issued Jan. 11, 2026 ahead of the company’s presentation at the 44th Annual J.P. Morgan Healthcare Conference on Jan. 12. The release provided preliminary financial results for the year ended Dec. 31, 2025: VYJUVEK net product revenue of $106–107 million for Q4 2025 and $388–389 million for full-year 2025, and an expected cash, cash equivalents and investments balance of approximately $955 million as of Dec. 31, 2025. The release also outlined Krystal’s rare disease strategic vision, 2026 corporate objectives, and preliminary 2026 combined non‑GAAP R&D and SG&A expense guidance.

Key Details

• Q4 2025 VYJUVEK net product revenues: $106 million to $107 million.
• Full-year 2025 VYJUVEK net product revenues: $388 million to $389 million.
• Cash, cash equivalents and investments as of Dec. 31, 2025: approximately $955 million.
• Press release dated Jan. 11, 2026 (Exhibit 99.1) furnished with the 8-K; Reg FD/Form 8‑K disclaimer notes the furnished material is not deemed “filed” under Section 18.

Why It Matters
This filing gives investors an early look at Krystal’s commercial performance for VYJUVEK and the company’s liquidity position. The reported revenue figures show the scale of product sales in 2025 and the cash balance suggests a significant runway to fund operations and pipeline activities. The inclusion of 2026 objectives and preliminary non‑GAAP R&D/SG&A guidance indicates management plans continued investment, but the figures are preliminary and were furnished (not formally “filed”) in the 8‑K. Investors should watch for the company’s full audited results and any formal 2026 guidance updates in subsequent filings.