Exhibit 99.2
Krystal Biotech Announces Pricing of $60.0 Million Public Offering of Common Stock
PITTSBURGH, October 18, 2018 — Krystal Biotech, Inc. (Nasdaq:KRYS) (the “Company”), a gene therapy company dedicated to developing and commercializing novel treatments for patients suffering from dermatological diseases, today announced that it has priced the previously announced underwritten public offering of 3,000,000 shares of its common stock, at a public offering price of $20.00 per share. The Company granted the underwriters a 30-day option to purchase up to an additional 450,000 shares of its common stock. The gross proceeds to the Company from this offering are expected to be approximately $60.0 million, before deducting the underwriting discounts and commissions and other estimated offering expenses payable by the Company. The offering is expected to close on or about October 23, 2018. The offering is subject to market and other conditions, and there can be no assurances as to whether or when the offering may be completed.
Cowen, William Blair and Cantor acted as joint book-running managers for the offering. Chardan acted as the lead manager for the offering.
The Company currently intends to use the net proceeds from this offering, if any, together with its existing cash, cash equivalents and short-term investments: (i) to continue to advance KB103 through clinical trials; (ii) to advance the pre-clinical development of KB105 with clinical trials anticipated to commence in the first half of 2019; (iii) to complete development of a good manufacturing practices certified manufacturing facility for scale-up production of its pipeline compounds and commencement of operations of that facility; and (iv) the balance for working capital and general corporate purposes, including research and development expenses and capital expenditures.
The offering is being made pursuant to a “shelf” registration statement on Form S-3 (File No. 333-227632) that was originally filed with the Securities and Exchange Commission (“SEC”) on October 1, 2018 and declared effective by the SEC on October 12, 2018. A preliminary prospectus supplement relating to and describing the terms of the offering was filed with the SEC and is available on the SEC’s website at http://www.sec.gov. A final prospectus supplement and the accompanying base prospectus relating to the offering and the shares of Common Stock being offered will be filed with the SEC. Copies of the registration statement, the final prospectus supplement and the accompanying base prospectus may be obtained on the SEC’s website at http://www.sec.gov or, when available, by contacting: Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Attn: Prospectus Department, or by email at PostSaleManualRequests@broadridge.com; William Blair & Company, L.L.C., 150 N. Riverside Plaza, Chicago, Illinois 60606, by phone at (800) 621-0687 or e-mail at prospectus@williamblair.com; or Cantor Fitzgerald & Co., attention: Capital Markets, 499 Park Avenue, 6th Floor, New York, New York 10022, or by e-mail at prospectus@cantor.com.
This announcement is for informational purposes only and is not an offer to sell or the solicitation of an offer to buy any securities of the Company, which is made only by means of a prospectus supplement and related base prospectus, nor will there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Krystal Biotech
Krystal Biotech, Inc. (Nasdaq:KRYS) is a gene therapy company dedicated to developing and commercializing novel treatments for patients suffering from dermatological diseases.
