Why Krystal Biotech's Shares Rose More Than 77% This Week
Krystal Biotech (NASDAQ: KRYS) saw its shares climb more than 77% this week, according to data provided by S&P Global Market Intelligence. The stock was only at $39.81 at Friday's close, then opened at $91.20 on Monday and climbed to as high as $102.99. While the stock has come down quite a bit, on Thursday it was still trading as high as $73 per share. The stock's 52-week low is $38.86.
Image source: Getty Images.
The clinical-stage gene therapy company's stock got its bounce when Krystal announced on Monday that its lead program, Vyjuvek, had gone through its successful phase 3 trial to treat dystrophic epidermolysis bullosa (DEB), a rare inherited disease. Because of a defective gene, DEB patients' skin becomes extremely fragile, and blisters and tears from minor friction or trauma, usually on the hands, elbows, and knees. DEB patients deal with frequent skin infections from open wounds and are at an increased risk of developing squamous cell carcinoma.
Source Fool.com
