| | • | | General and administrative expenses for the fourth quarter ended December 31, 2020 were $4.8 million, compared to $1.8 million for the fourth quarter 2019, and $15.1 million for the year ended December 31, 2020, compared to $6.5 million for the year ended December 31, 2019. |
| | • | | Net losses for the quarters ended December 31, 2020 and 2019 were $10.5 million and $5.4 million, or $(0.53) and $(0.31) respectively, per common share (basic and diluted). Net losses for the years ended December 31, 2020 and 2019 were $32.2 million and $19.1 million or $(1.71) and $(1.20) respectively, per common share (basic and diluted). |
| | • | | For additional information on the Company’s financial results for the year ended December 31, 2020, refer to form 10-K filed with the SEC. |
Subsequent Events:
| | • | | On February 1, 2021, the Company completed a public offering of 2,211,538 shares of its common stock, including 288,461 shares purchased by the underwriters, at $65.00 per share. Net proceeds to the Company from the offering were $135.0 million. |
| | • | | In January 2021, 262,500 shares of common stock were issued pursuant to our at-the-market equity offering program (“ATM Program”) for net proceeds of $16.9 million, resulting in a remaining $132.5 million available for issuance under the ATM Program. |
About Krystal Biotech
Krystal Biotech, Inc. (NASDAQ:KRYS) is a pivotal-stage gene therapy company leveraging its novel, redosable gene therapy platform and in-house manufacturing capabilities to develop therapies to treat serious rare diseases. For more information please visit http://www.krystalbio.com.
Forward-Looking Statements
Any statements in this press release about future expectations, plans and prospects for Krystal Biotech, Inc., including but not limited to statements about the development of Krystal’s product candidates, such as plans for the design, conduct and timelines of ongoing clinical trials of beremagene geperpavec (“B-VEC”), KB105, KB104, KB301 and KB407; the clinical utility of B-VEC, KB105, KB104, KB301 and KB407, and Krystal’s plans for filing of regulatory approvals and efforts to bring B-VEC, KB105, KB104, KB301 and KB407 to market; the market opportunity for and the potential market acceptance of B-VEC, KB105, KB104, KB301 and KB407; plans to pursue research and development of other product candidates; the sufficiency of Krystal’s existing cash resources; the unanticipated impact of COVID-19 on Krystal’s business operations, pre-clinical activities and clinical trials; and other statements containing the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potential,” “likely,” “will,” “would,” “could,” “should,” “continue,” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties inherent in the initiation and conduct of clinical trials, availability and timing of data from clinical trials, whether results of early clinical trials or trials will be indicative of the results of ongoing or future trials, uncertainties associated with regulatory review of clinical trials and applications for marketing approvals, the availability or commercial potential of product candidates including B-VEC, KB105, KB104, KB301 and KB407, the sufficiency of cash resources and need for additional
