🇺🇸 SECKrystal Biotech, Inc.Doubao · 实盘不做把握 4/10不做原因:风险收益比不佳
北京时间·🕒 发布 19:02:30·⟳ 抓取 19:02:52 +22s·⚡ 决策 10-15 19:06:39 +3m47s·12.3 天前
Krystal Biotech公布KB113治疗Gorlin综合征3例概念验证阳性数据,83%病灶消退
方向虽为正面,但这是探索性新项目的n=3开放标签先导数据:无对照、研究者主观评估、无注册时间表、适应症极小(美国患者约1万人量级),且KB113仅是已在研KB707的低剂量,对近98亿美元市值的KRYS缺乏可量化的估值增量;盘前流动性极差,赔率与确定性均不支持入场。
📄 原文Krystal Biotech, Inc.↗ 原文
----- krys-20261015.htm ----- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT…
不做 Krystal Biotech, Inc.(KRYS.US)
软性早期催化不具交易价值:n=3单臂先导研究、无对照、研究者主观评估,适应症美国患者仅约1万人量级,无注册路径/收入指引;对约98亿美元市值的已盈利商业化公司增量可忽略,PeDRA会议关注度低、盘前流动性极差,方向正面但无正期望edge,等待FDA对齐后的正式开发方案或更大样本数据再评估。
展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)
研究档案
结论摘要
KB113在3例Gorlin综合征患者中显示83%病灶消退且安全性良好,属平台外溢的早期正面信号;但n=3、单臂、无收入指引,对约98亿美元市值的已盈利公司仅为软性催化,不足以形成交易edge,回避。
🔎 新鲜度:最早出现 2026-10-15 · 扩散 low · price-in 风险 low ↗
消息传播链
- 公司通过8-K Item 7.01同时提交新闻稿(EX99.1)与PeDRA壁报(EX99.2),为该数据的一手法定披露,发布于美股盘前市场反应:截至07:04 ET盘前成交量极小(仅1股成交于325.46美元),尚无可解读的市场反应
关键理由
- 数据本身积极:注射与非注射病灶均广泛消退、3例活检组织学完全缓解、无SAE,并已启动FDA沟通,支持KB707/KB113平台的早期成药信号
- 当前股价330.69美元、市值约97.9亿美元、PE约48倍,核心估值由VYJUVEK商业化及KB707大适应症(NSCLC,已获RMAT)驱动,Gorlin超罕见病先导研究不改变近期基本面
主要风险
- n=3单臂开放标签、研究者5分制评估且数据快照早于壁报,小样本阳性结果在后续对照研究中失败概率高
- PeDRA为小型专科会议、关注度低,且10月14日股价已上涨2.97%,若市场解读平淡或获利了结,追高风险大于上行空间
反向证据
- 做多前查反向 · 来源 web · 影响 weakens
未发现与本数据直接冲突的利空;主要反向因素来自数据自身质量(n=3、开放标签、研究者评估、无对照、22起治疗相关AE)以及公司刚进入FDA初步讨论、无开发时间表
检索:Krystal Biotech KB113 Gorlin 失败 风险 样本小 下修 利空 原文 ↗
先例如何影响了这次决策
方向:未做先例定价:即使早期数据先例短线偏正面,本次n=3超罕见病先导研究相对98亿美元市值的materiality不足,先例幅度不会改变回避结论
涨幅量级:无高相似对齐先例;KRYS历史上驱动股价的是KB707在NSCLC等大适应症的数据与RMAT认定,而非小众皮肤病先导研究
形态:未验证;不据此交易
工具执行结果 · 成功 4 · 降级 0 · 失败 0 · 取消 0
- search_processed_events 成功 stock_tools HTTP · 11 ms
{"result": "search_processed_events:agent query=`krys 8-k kb113 pedra 2026 il-2 il-12 hsv-1 abscopal | krystal biotech kb113 gorlin syndrome pilot data basal cell carcinoma | krystal biotech kb707 opal-1 bcc clinical data october`;结构化索引覆盖完整 72 小时;旧记录兼容扫描近 0.0/72 小时、0 条本臂决策(完整),返回 0 条候选。未命中只表示这些 agen - stock_quote 成功 stock_tools HTTP · 719 ms
{ - web_search 成功 doubao_search · 1,657 ms
豆包搜索结果(原始查询:Krystal Biotech KB707 KB113 OPAL-1 solid tumor data stock reaction;API SearchType:web) - web_search 成功 doubao_search · 2,040 ms
豆包搜索结果(原始查询:Krystal Biotech KB113 Gorlin syndrome announcement KB707 intratumoral IL-2 IL-12 pipeline;API SearchType:web)
原文全文
展开原文 · 19,488 字
----- krys-20261015.htm -----
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
October 15, 2026
KRYSTAL BIOTECH, INC.
(Exact name of registrant as specified in its charter)
Delaware
001-38210
82-1080209
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
2100 Wharton Street, Suite 701
15203
Pittsburgh,
Pennsylvania
(Address of principal executive offices)
(Zip Code)
Registrant’s telephone number, including area code (
412
)
586-5830
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock
KRYS
Nasdaq Global Select Market
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition
period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the
Exchange Act.
☐
Item 7.01 Regulation FD Disclosure.
On October 15, 2026, Krystal Biotech, Inc. (the “Company”) issued a press release announcing clinical data from its Gorlin Syndrome Pilot Study evaluating KB113 for the treatment of basal cell carcinomas in patients with Gorlin syndrome. The data will be presented by study investigator Shireen V. Guide, MD, in a poster entitled “Use of an HSV-1-Based Immunotherapy, KB113, to Treat Basal Cell Carcinoma in Patients with Gorlin Syndrome” at the 14th Pediatric Dermatology Research Alliance (PeDRA) Annual Conference, being held October 15–17, 2026 in Alexandria, Virginia. Copies of the press release and the poster are furnished as Exhibit 99.1 and Exhibit 99.2, respectively, to this Current Report on Form 8-K and are incorporated herein by reference. The press release and poster are also available on the “Investors” section of the Company's website at www.krystalbio.com.
The information in this Item 7.01 of this Current Report on Form 8-K, including Exhibits 99.1 and 99.2, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
No.
Description
99.1
Press Release of Krystal Biotech, Inc., dated October 15, 2026
99.2
Poster entitled “Use of an HSV-1-Based Immunotherapy, KB113, to Treat Basal Cell Carcinoma in Patients with Gorlin Syndrome”
104
Cover Page Interactive Data file (embedded within the Inline XBRL document)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date:
October 15, 2026
KRYSTAL BIOTECH, INC.
By:
/s/ Krish S. Krishnan
Name:
Krish S. Krishnan
Title:
Chairman and Chief Executive Officer
----- krystalgorlinprogramdataup.htm -----
EX-99.1
2
krystalgorlinprogramdataup.htm
EX-99.1
Document
Exhibit 99.1
Krystal Biotech Announces Positive Clinical Data for New
Dermatology Program KB113 Demonstrating Broad Basal Cell Carcinoma Regression in Patients with Gorlin Syndrome
Over 80% of assessed basal cell carcinoma lesions regressed across three Gorlin syndrome patients treated with KB113
Substantial regression was observed in lesions not directly injected with KB113, consistent with abscopal effect
KB113 injections were well tolerated by Gorlin syndrome patients; all reported adverse events were mild to moderate in severity and transient in nature
Data will be presented by study investigator Dr. Shireen Guide at the 14th PeDRA Annual Conference, October 15-17, 2026
PITTSBURGH, October 15, 2026 (GLOBE NEWSWIRE) –
Krystal Biotech, Inc.
(the “Company”) (NASDAQ: KRYS) announced today a positive clinical update supporting initial proof of concept for KB113, an intratumoral immunotherapy designed to drive sustained, localized expression of interleukin-2 (IL-2) and interleukin-12 (IL-12) in the tumor microenvironment and promote systemic immune-mediated tumor clearance, in the treatment of basal cell carcinomas (BCCs) in patients with Gorlin syndrome:
•
Broad antitumor responses were detected in all three Gorlin syndrome patients treated with KB113, with over 80% of assessed BCC lesions reducing in size;
•
Responses were observed in both injected and non-injected lesions, including substantial regression in lesions that were not directly injected with KB113, consistent with an abscopal effect; and
•
Complete clearance of an injected lesion was also confirmed histologically for each of the three patients treated with KB113.
Gorlin syndrome is a genetic disease characterized by a greatly increased risk of developing BCCs. Patients with Gorlin syndrome can develop BCCs as early as infancy and may have hundreds of BCCs over their lifetimes requiring frequent and potentially disfiguring surgical procedures. The psychological and physical toll of Gorlin syndrome builds over time, as patients are subjected to repeated cycles of surveillance, surgery, and recovery to manage emergent BCCs, with each surgery adding to the cumulative risk of scarring and permanent tissue loss. Prevalence data for Gorlin syndrome is limited but available data suggest the number of patients with Gorlin syndrome in the United States could exceed 10,000.
“For individuals living with Gorlin syndrome, the lifelong emergence of multiple BCCs creates an immense cumulative treatment burden—often resulting in extensive scarring and significant impacts on quality of life,” said Shireen V. Guide, MD, Mission Dermatology Center. “The observed antitumor responses with KB113 across both injected and non-injected lesions represent encouraging preliminary findings that strongly support its continued clinical development.”
Gorlin Syndrome Pilot Study Clinical Results
KB113 is the low dose of intratumoral KB707 that showed promising early efficacy signals in patients with BCC in the Company’s OPAL-1 Phase 1/2 study, an open label, multicenter, dose escalation and expansion Phase 1/2 study in patients with injection-accessible solid tumors. The Gorlin Syndrome Pilot Study was a multicenter, single-arm, open label study designed to evaluate the safety and preliminary efficacy of KB113 for the treatment of BCCs in patients with Gorlin syndrome. Three adult patients with Gorlin syndrome were enrolled in the study. All three patients received six doses of up to 2 mL of 10
8
PFU/mL KB113 over a period of 14 weeks, with the first two doses spaced two weeks apart followed by dosing once every three weeks. Landmark lesions, defined as facial BCCs ≥5 mm in diameter or non-facial BCCs ≥9 mm in diameter, were identified by the investigator and visually assessed for clinical regression throughout the 14-week treatment period and again 30 days after the final dose using a pre-specified, investigator-assessed 5-point clearance scale. The scale categorizes each lesion by magnitude of regression. Only landmark lesions were eligible for injection with KB113. The investigator selected which landmark lesions to inject, irrespective of anatomical location, and determined the injection volume for each lesion based on its clinical presentation. Additional details on the OPAL-1 study can be found at
www.clinicaltrials.gov
under NCT identifier: NCT05970497.
Regression of landmark lesions was observed as early as two weeks after initiation of treatment, with responses broadening and deepening over time. At the final assessment conducted 30 days after last dose, over 80% of all assessed landmark lesions had regressed. Over half of all landmark lesions demonstrated greater than 50% clinical regression, and a subset demonstrated at least 90% clinical regression, as assessed using the investigator-assessed 5-point clearance scale. Substantial regression was observed in lesions that had never been directly injected, providing preliminary evidence of an abscopal effect.
Details on response rates at the final assessment are summarized below:
Combined Results for All Three Gorlin Syndrome Patients
Clinical Regression
Injected
Non-Injected
Overall
Any clinical regression in lesion size*
29/36 (80.6%)
40/47 (85.1%)
69/83 (83.1%)
> 50% clinical regression**
15/36 (41.7%)
27/47 (57.4%)
42/83 (50.6%)
≥ 90% clinical regression
4/36 (11.1%)
4/47 (8.5%)
8/83 (9.6%)
* Inclusive of lesions with > 50% clinical regression
** Inclusive of lesions with ≥ 90% clinical regression
To further assess clinical regression, one injected lesion from each patient that had achieved at least 90% clinical regression was biopsied. All three biopsied lesions demonstrated histologically confirmed complete response, with no evidence of residual tumor tissue.
Consistent with prior experience in the low dose escalation cohort of OPAL-1, KB113 was well tolerated by all three patients enrolled in the Gorlin Syndrome Pilot Study. All reported adverse events were mild or moderate in severity, transient, and resolved during the study.
“The breadth and depth of responses reported today on landmark lesions located in various parts of the patient’s body showcase the systemic immune-activating potential of HSV-1 encoded IL-2 and IL-12 and have exciting implications for Krystal and the many patients we aim to serve,” said Suma Krishnan, President of Research and Development at Krystal Biotech. “Leveraging our extensive HSV-1 dataset and clinical experience, we believe there is an opportunity to quickly advance our newly announced program for Gorlin syndrome and further our commitment to patients suffering from skin diseases.”
The Company has initiated discussions with the United States Food and Drug Administration (FDA) regarding the advanced clinical development of KB113 for the treatment of Gorlin syndrome. The Company will provide an update on its clinical development plans following alignment with the FDA.
A poster summarizing the Gorlin Syndrome Pilot Study results will be presented by study investigator Dr. Guide at the 14th Pediatric Dermatology Research Alliance (PeDRA) Annual Conference, October 15-17, 2026 in Alexandria, Virginia. The poster is available to view online on the Investor section of the Company’s
website
.
About Krystal Biotech, Inc.
Krystal Biotech, Inc. (NASDAQ: KRYS) is a fully integrated, commercial-stage, global biotechnology company focused on the discovery, development and commercialization of genetic medicines to treat diseases with high unmet medical needs. VYJUVEK®, the Company’s first commercial product, is the first-ever redosable gene therapy and the first genetic medicine approved in the United States, Europe, and Japan for the treatment of dystrophic epidermolysis
bullosa. The Company is rapidly advancing a robust preclinical and clinical pipeline of investigational genetic medicines. Krystal Biotech is headquartered in Pittsburgh, Pennsylvania. Visit
www.krystalbio.com
to learn more or follow us on
LinkedIn
and
X
.
Forward-Looking Statements and Disclosures
This press release contains “forward looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on the Company’s current expectations and beliefs regarding its product candidate, KB113, for the treatment of patients with Gorlin syndrome. These forward-looking statements include, without limitation, statements relating to the systemic immune-activating potential of KB113; the potential of KB113 as a treatment for Gorlin syndrome; the Company’s plans to continue development of KB113 and its discussions with the FDA regarding the clinical development of KB113; an opportunity to quickly advance the KB113 program for Gorlin syndrome; and the Company’s plans to provide an update on its clinical development plans for KB113 following alignment with the FDA. All statements other than historical facts are or may be deemed to be forward-looking statements and involve known and unknown risks, uncertainties, and assumptions that could cause actual results to differ materially from those indicated by such forward-looking statements as a result of various important factors, including uncertainties inherent in the initiation and conduct of clinical trials and in regulatory review of clinical trials and applications for marketing approvals; whether results of early clinical trials, including results observed in a small number of patients, will be indicative of the results of later-stage studies; and such other important factors as are set forth under the caption “Risk Factors” in the Company’s annual and quarterly reports on file with the U.S. Securities and Exchange Commission. The Company provides this information as of the date of this press release and assumes no obligation to update any forward-looking statements.
KB113 is an investigational product candidate. The safety and efficacy of KB113 have not been established, and it has not been approved by the FDA or any other regulatory authority.
CONTACT
Investors and Media:
Stéphane Paquette, PhD
Krystal Biotech
spaquette@krystalbio.com
----- pedra2026gorlinfinaltopr.htm -----
EX-99.2
3
pedra2026gorlinfinaltopr.htm
EX-99.2
pedra2026gorlinfinaltopr
Use of an HSV-1-Based Immunotherapy, KB113, to Treat Basal Cell Carcinoma in Patients with Gorlin Syndrome Shireen V. Guide1; Mercedes E. Gonzalez2; Kristin A. Gabor3; Andrew Sparacino1; Emily Schad1; Molly Buch3; Erica Butler3; Nandini D. Akurathi3; David Chien3; Suma M. Krishnan3 1Mission Dermatology Center, Rancho Santa Margarita, CA; 2Pediatric Skin Research, LLC., Miami, FL; 3Krystal Biotech, Inc., Pittsburgh, PA Poster presented at PeDRA 2026 14th Annual Meeting, October 15-17, 2026, Alexandria, VA, USA. KB113: Immunotherapy for the Treatment of BCC in Patients with Gorlin Syndrome • Gorlin syndrome (GS) is a rare autosomal dominant disorder with clinical manifestations often beginning in childhood. • Patients face a lifelong burden of basal cell carcinomas (BCCs) and disfigurement caused by both the tumors themselves and subsequent standard-of-care surgical resection. • KB113 is a replication-defective, non-integrating herpes simplex virus type 1 (HSV-1)- based immunotherapy designed to deliver the genes encoding full-length human interleukins, IL-12 and IL-2, via injection directly to the tumor microenvironment to induce both innate and adaptive antitumor immune responses to local and distal tumors. • Here, we present safety and efficacy data for three subjects with GS treated with KB113 who received six intralesional doses of KB113 over three months. Subject 1 Screening Visit 4 (Day 15) Visit 6 (Day 36) Visit 9 (Day 99) Subject 3 Visit 3 (Day 2)Screening Visit 6 (Day 36) Visit 7 (Day 57) KB113 Administration Lesion Evaluation Non-dosing Visit Acknowledgements - We would like to thank the patients for consenting to share their images and medical information for use in this poster and acknowledge Dr. Jada George (Krystal Biotech, Inc., [Krystal]) for preparing this poster. Author disclosures - SVG and MEG are principal investigators at sites that received clinical trial funding from Krystal. KAG, MB, EB, NDA, DC, and SMK are current employees and stockholders of Krystal. Subject 2 Screening Visit 4 (Day 15) Visit 6 (Day 36) Visit 7 (Day 57) KB113 Preliminary Clinical Efficacy and Safety Assessments* Examples of BCC Lesion Resolution in Subjects with GS Table 2. Summary of Most Commonly Reported (>1 Event) Adverse Events Table 1. Summary of Preliminary Clinical Efficacy in Gorlin Syndrome Pilot Study o A total of 22 adverse events (AEs) were reported in the three subjects. o All 22 reported AEs were mild or moderate, assessed as related to KB113 treatment, and resolved during the study. o The most common AEs were erythema and edema at the injection site (each occurring 5 times in a single subject). Influenza-like illness and pyrexia were the only AEs to occur in more than one subject. o No serious adverse events (SAEs) were reported. o Baseline documentation consisted of identifying “landmark (LM) lesions” with a minimum size of ≥ 5 mm (facial lesions) and ≥ 9 mm (non-facial lesions). o A maximum of up to 2 mL of 108 plaque forming units (PFU)/mL KB113 was administered across any number of LM lesions at each dosing day. o Lesions were assessed via Investigator’s 5-point clearance scale: 0 = worse; 1 = no change; 2 = slight resolution [>0 – 50%]; 3 = moderate resolution [51 – 89%]; 4 = complete resolution [90 – 100%]. Key Takeaways and Conclusions Over 80% of all landmark lesions demonstrated clinical regression, with more than half reducing by ≥51%. Observed reduction in noninjected tumors provides preliminary evidence of an abscopal effect and supports further investigation. For each subject, one lesion demonstrating ≥90% clinical regression was biopsied; all three demonstrated histologically confirmed complete response. KB113 was generally well tolerated, with mostly mild, transient adverse events and no serious adverse events. ** Inclusive of lesions with >50% or ≥90% reduction in size. *** Inclusive of lesions with ≥90% reduction in size. KB113 Pilot Study Design Subject 1 Subject 2 Subject 3 All Subjects Combined Response Depth Injected N = 13 Non-Injected N = 39 Injected N = 15 Non-Injected N = 8 Injected N = 8 Injected N = 36 Non-Injected N = 47 Overall N = 83 Any reduction in lesion size** 8 (61.5%) 32 (82.1%) 13 (86.7%) 8 (100%) 8 (100%) 29 (80.6%) 40 (85.1%) 69 (83.1%) >50% reduction*** 4 (30.8%) 20 (51.3%) 4 (26.7%) 7 (87.5%) 7 (87.5%) 15 (41.7%) 27 (57.4%) 42 (50.6%) ≥90% reduction 2 (15.4%) 2 (5.1%) 1 (6.7%) 2 (25.0%) 1 (12.5%) 4 (11.1%) 4 (8.5%) 8 (9.6%) Complete resolution was confirmed in all three lesions by histology in the end-of-study biopsy. Visit 2 Day 1 Visit 3 Day 2 Visit 4 Day 15 Visit 5 Day 16 Visit 6 Day 36 Visit 7 Day 57 Visit 8 Day 78 Visit 9 Day 99 Follow Up 30 days after last dose Treatment PeriodScreening Period 28 days Follow-up Period Preferred Term Subjects (N) Events (n) Highest Grade Injection site edema 1 5 Mild (Grade 1) Injection site erythema 1 5 Mild (Grade 1) Influenza like illness 2 4 Moderate (Grade 2) Pyrexia 2 2 Mild (Grade 1) Injection site urticaria 1 2 Mild (Grade 1) *Analysis based on a data snapshot from 17SEP2026; unaudited data. This data became available after submission of the abstract. Exhibit 99.2
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
October 15, 2026
KRYSTAL BIOTECH, INC.
(Exact name of registrant as specified in its charter)
Delaware
001-38210
82-1080209
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
2100 Wharton Street, Suite 701
15203
Pittsburgh,
Pennsylvania
(Address of principal executive offices)
(Zip Code)
Registrant’s telephone number, including area code (
412
)
586-5830
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock
KRYS
Nasdaq Global Select Market
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition
period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the
Exchange Act.
☐
Item 7.01 Regulation FD Disclosure.
On October 15, 2026, Krystal Biotech, Inc. (the “Company”) issued a press release announcing clinical data from its Gorlin Syndrome Pilot Study evaluating KB113 for the treatment of basal cell carcinomas in patients with Gorlin syndrome. The data will be presented by study investigator Shireen V. Guide, MD, in a poster entitled “Use of an HSV-1-Based Immunotherapy, KB113, to Treat Basal Cell Carcinoma in Patients with Gorlin Syndrome” at the 14th Pediatric Dermatology Research Alliance (PeDRA) Annual Conference, being held October 15–17, 2026 in Alexandria, Virginia. Copies of the press release and the poster are furnished as Exhibit 99.1 and Exhibit 99.2, respectively, to this Current Report on Form 8-K and are incorporated herein by reference. The press release and poster are also available on the “Investors” section of the Company's website at www.krystalbio.com.
The information in this Item 7.01 of this Current Report on Form 8-K, including Exhibits 99.1 and 99.2, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
No.
Description
99.1
Press Release of Krystal Biotech, Inc., dated October 15, 2026
99.2
Poster entitled “Use of an HSV-1-Based Immunotherapy, KB113, to Treat Basal Cell Carcinoma in Patients with Gorlin Syndrome”
104
Cover Page Interactive Data file (embedded within the Inline XBRL document)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date:
October 15, 2026
KRYSTAL BIOTECH, INC.
By:
/s/ Krish S. Krishnan
Name:
Krish S. Krishnan
Title:
Chairman and Chief Executive Officer
----- krystalgorlinprogramdataup.htm -----
EX-99.1
2
krystalgorlinprogramdataup.htm
EX-99.1
Document
Exhibit 99.1
Krystal Biotech Announces Positive Clinical Data for New
Dermatology Program KB113 Demonstrating Broad Basal Cell Carcinoma Regression in Patients with Gorlin Syndrome
Over 80% of assessed basal cell carcinoma lesions regressed across three Gorlin syndrome patients treated with KB113
Substantial regression was observed in lesions not directly injected with KB113, consistent with abscopal effect
KB113 injections were well tolerated by Gorlin syndrome patients; all reported adverse events were mild to moderate in severity and transient in nature
Data will be presented by study investigator Dr. Shireen Guide at the 14th PeDRA Annual Conference, October 15-17, 2026
PITTSBURGH, October 15, 2026 (GLOBE NEWSWIRE) –
Krystal Biotech, Inc.
(the “Company”) (NASDAQ: KRYS) announced today a positive clinical update supporting initial proof of concept for KB113, an intratumoral immunotherapy designed to drive sustained, localized expression of interleukin-2 (IL-2) and interleukin-12 (IL-12) in the tumor microenvironment and promote systemic immune-mediated tumor clearance, in the treatment of basal cell carcinomas (BCCs) in patients with Gorlin syndrome:
•
Broad antitumor responses were detected in all three Gorlin syndrome patients treated with KB113, with over 80% of assessed BCC lesions reducing in size;
•
Responses were observed in both injected and non-injected lesions, including substantial regression in lesions that were not directly injected with KB113, consistent with an abscopal effect; and
•
Complete clearance of an injected lesion was also confirmed histologically for each of the three patients treated with KB113.
Gorlin syndrome is a genetic disease characterized by a greatly increased risk of developing BCCs. Patients with Gorlin syndrome can develop BCCs as early as infancy and may have hundreds of BCCs over their lifetimes requiring frequent and potentially disfiguring surgical procedures. The psychological and physical toll of Gorlin syndrome builds over time, as patients are subjected to repeated cycles of surveillance, surgery, and recovery to manage emergent BCCs, with each surgery adding to the cumulative risk of scarring and permanent tissue loss. Prevalence data for Gorlin syndrome is limited but available data suggest the number of patients with Gorlin syndrome in the United States could exceed 10,000.
“For individuals living with Gorlin syndrome, the lifelong emergence of multiple BCCs creates an immense cumulative treatment burden—often resulting in extensive scarring and significant impacts on quality of life,” said Shireen V. Guide, MD, Mission Dermatology Center. “The observed antitumor responses with KB113 across both injected and non-injected lesions represent encouraging preliminary findings that strongly support its continued clinical development.”
Gorlin Syndrome Pilot Study Clinical Results
KB113 is the low dose of intratumoral KB707 that showed promising early efficacy signals in patients with BCC in the Company’s OPAL-1 Phase 1/2 study, an open label, multicenter, dose escalation and expansion Phase 1/2 study in patients with injection-accessible solid tumors. The Gorlin Syndrome Pilot Study was a multicenter, single-arm, open label study designed to evaluate the safety and preliminary efficacy of KB113 for the treatment of BCCs in patients with Gorlin syndrome. Three adult patients with Gorlin syndrome were enrolled in the study. All three patients received six doses of up to 2 mL of 10
8
PFU/mL KB113 over a period of 14 weeks, with the first two doses spaced two weeks apart followed by dosing once every three weeks. Landmark lesions, defined as facial BCCs ≥5 mm in diameter or non-facial BCCs ≥9 mm in diameter, were identified by the investigator and visually assessed for clinical regression throughout the 14-week treatment period and again 30 days after the final dose using a pre-specified, investigator-assessed 5-point clearance scale. The scale categorizes each lesion by magnitude of regression. Only landmark lesions were eligible for injection with KB113. The investigator selected which landmark lesions to inject, irrespective of anatomical location, and determined the injection volume for each lesion based on its clinical presentation. Additional details on the OPAL-1 study can be found at
www.clinicaltrials.gov
under NCT identifier: NCT05970497.
Regression of landmark lesions was observed as early as two weeks after initiation of treatment, with responses broadening and deepening over time. At the final assessment conducted 30 days after last dose, over 80% of all assessed landmark lesions had regressed. Over half of all landmark lesions demonstrated greater than 50% clinical regression, and a subset demonstrated at least 90% clinical regression, as assessed using the investigator-assessed 5-point clearance scale. Substantial regression was observed in lesions that had never been directly injected, providing preliminary evidence of an abscopal effect.
Details on response rates at the final assessment are summarized below:
Combined Results for All Three Gorlin Syndrome Patients
Clinical Regression
Injected
Non-Injected
Overall
Any clinical regression in lesion size*
29/36 (80.6%)
40/47 (85.1%)
69/83 (83.1%)
> 50% clinical regression**
15/36 (41.7%)
27/47 (57.4%)
42/83 (50.6%)
≥ 90% clinical regression
4/36 (11.1%)
4/47 (8.5%)
8/83 (9.6%)
* Inclusive of lesions with > 50% clinical regression
** Inclusive of lesions with ≥ 90% clinical regression
To further assess clinical regression, one injected lesion from each patient that had achieved at least 90% clinical regression was biopsied. All three biopsied lesions demonstrated histologically confirmed complete response, with no evidence of residual tumor tissue.
Consistent with prior experience in the low dose escalation cohort of OPAL-1, KB113 was well tolerated by all three patients enrolled in the Gorlin Syndrome Pilot Study. All reported adverse events were mild or moderate in severity, transient, and resolved during the study.
“The breadth and depth of responses reported today on landmark lesions located in various parts of the patient’s body showcase the systemic immune-activating potential of HSV-1 encoded IL-2 and IL-12 and have exciting implications for Krystal and the many patients we aim to serve,” said Suma Krishnan, President of Research and Development at Krystal Biotech. “Leveraging our extensive HSV-1 dataset and clinical experience, we believe there is an opportunity to quickly advance our newly announced program for Gorlin syndrome and further our commitment to patients suffering from skin diseases.”
The Company has initiated discussions with the United States Food and Drug Administration (FDA) regarding the advanced clinical development of KB113 for the treatment of Gorlin syndrome. The Company will provide an update on its clinical development plans following alignment with the FDA.
A poster summarizing the Gorlin Syndrome Pilot Study results will be presented by study investigator Dr. Guide at the 14th Pediatric Dermatology Research Alliance (PeDRA) Annual Conference, October 15-17, 2026 in Alexandria, Virginia. The poster is available to view online on the Investor section of the Company’s
website
.
About Krystal Biotech, Inc.
Krystal Biotech, Inc. (NASDAQ: KRYS) is a fully integrated, commercial-stage, global biotechnology company focused on the discovery, development and commercialization of genetic medicines to treat diseases with high unmet medical needs. VYJUVEK®, the Company’s first commercial product, is the first-ever redosable gene therapy and the first genetic medicine approved in the United States, Europe, and Japan for the treatment of dystrophic epidermolysis
bullosa. The Company is rapidly advancing a robust preclinical and clinical pipeline of investigational genetic medicines. Krystal Biotech is headquartered in Pittsburgh, Pennsylvania. Visit
www.krystalbio.com
to learn more or follow us on
and
X
.
Forward-Looking Statements and Disclosures
This press release contains “forward looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on the Company’s current expectations and beliefs regarding its product candidate, KB113, for the treatment of patients with Gorlin syndrome. These forward-looking statements include, without limitation, statements relating to the systemic immune-activating potential of KB113; the potential of KB113 as a treatment for Gorlin syndrome; the Company’s plans to continue development of KB113 and its discussions with the FDA regarding the clinical development of KB113; an opportunity to quickly advance the KB113 program for Gorlin syndrome; and the Company’s plans to provide an update on its clinical development plans for KB113 following alignment with the FDA. All statements other than historical facts are or may be deemed to be forward-looking statements and involve known and unknown risks, uncertainties, and assumptions that could cause actual results to differ materially from those indicated by such forward-looking statements as a result of various important factors, including uncertainties inherent in the initiation and conduct of clinical trials and in regulatory review of clinical trials and applications for marketing approvals; whether results of early clinical trials, including results observed in a small number of patients, will be indicative of the results of later-stage studies; and such other important factors as are set forth under the caption “Risk Factors” in the Company’s annual and quarterly reports on file with the U.S. Securities and Exchange Commission. The Company provides this information as of the date of this press release and assumes no obligation to update any forward-looking statements.
KB113 is an investigational product candidate. The safety and efficacy of KB113 have not been established, and it has not been approved by the FDA or any other regulatory authority.
CONTACT
Investors and Media:
Stéphane Paquette, PhD
Krystal Biotech
spaquette@krystalbio.com
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EX-99.2
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Use of an HSV-1-Based Immunotherapy, KB113, to Treat Basal Cell Carcinoma in Patients with Gorlin Syndrome Shireen V. Guide1; Mercedes E. Gonzalez2; Kristin A. Gabor3; Andrew Sparacino1; Emily Schad1; Molly Buch3; Erica Butler3; Nandini D. Akurathi3; David Chien3; Suma M. Krishnan3 1Mission Dermatology Center, Rancho Santa Margarita, CA; 2Pediatric Skin Research, LLC., Miami, FL; 3Krystal Biotech, Inc., Pittsburgh, PA Poster presented at PeDRA 2026 14th Annual Meeting, October 15-17, 2026, Alexandria, VA, USA. KB113: Immunotherapy for the Treatment of BCC in Patients with Gorlin Syndrome • Gorlin syndrome (GS) is a rare autosomal dominant disorder with clinical manifestations often beginning in childhood. • Patients face a lifelong burden of basal cell carcinomas (BCCs) and disfigurement caused by both the tumors themselves and subsequent standard-of-care surgical resection. • KB113 is a replication-defective, non-integrating herpes simplex virus type 1 (HSV-1)- based immunotherapy designed to deliver the genes encoding full-length human interleukins, IL-12 and IL-2, via injection directly to the tumor microenvironment to induce both innate and adaptive antitumor immune responses to local and distal tumors. • Here, we present safety and efficacy data for three subjects with GS treated with KB113 who received six intralesional doses of KB113 over three months. Subject 1 Screening Visit 4 (Day 15) Visit 6 (Day 36) Visit 9 (Day 99) Subject 3 Visit 3 (Day 2)Screening Visit 6 (Day 36) Visit 7 (Day 57) KB113 Administration Lesion Evaluation Non-dosing Visit Acknowledgements - We would like to thank the patients for consenting to share their images and medical information for use in this poster and acknowledge Dr. Jada George (Krystal Biotech, Inc., [Krystal]) for preparing this poster. Author disclosures - SVG and MEG are principal investigators at sites that received clinical trial funding from Krystal. KAG, MB, EB, NDA, DC, and SMK are current employees and stockholders of Krystal. Subject 2 Screening Visit 4 (Day 15) Visit 6 (Day 36) Visit 7 (Day 57) KB113 Preliminary Clinical Efficacy and Safety Assessments* Examples of BCC Lesion Resolution in Subjects with GS Table 2. Summary of Most Commonly Reported (>1 Event) Adverse Events Table 1. Summary of Preliminary Clinical Efficacy in Gorlin Syndrome Pilot Study o A total of 22 adverse events (AEs) were reported in the three subjects. o All 22 reported AEs were mild or moderate, assessed as related to KB113 treatment, and resolved during the study. o The most common AEs were erythema and edema at the injection site (each occurring 5 times in a single subject). Influenza-like illness and pyrexia were the only AEs to occur in more than one subject. o No serious adverse events (SAEs) were reported. o Baseline documentation consisted of identifying “landmark (LM) lesions” with a minimum size of ≥ 5 mm (facial lesions) and ≥ 9 mm (non-facial lesions). o A maximum of up to 2 mL of 108 plaque forming units (PFU)/mL KB113 was administered across any number of LM lesions at each dosing day. o Lesions were assessed via Investigator’s 5-point clearance scale: 0 = worse; 1 = no change; 2 = slight resolution [>0 – 50%]; 3 = moderate resolution [51 – 89%]; 4 = complete resolution [90 – 100%]. Key Takeaways and Conclusions Over 80% of all landmark lesions demonstrated clinical regression, with more than half reducing by ≥51%. Observed reduction in noninjected tumors provides preliminary evidence of an abscopal effect and supports further investigation. For each subject, one lesion demonstrating ≥90% clinical regression was biopsied; all three demonstrated histologically confirmed complete response. KB113 was generally well tolerated, with mostly mild, transient adverse events and no serious adverse events. ** Inclusive of lesions with >50% or ≥90% reduction in size. *** Inclusive of lesions with ≥90% reduction in size. KB113 Pilot Study Design Subject 1 Subject 2 Subject 3 All Subjects Combined Response Depth Injected N = 13 Non-Injected N = 39 Injected N = 15 Non-Injected N = 8 Injected N = 8 Injected N = 36 Non-Injected N = 47 Overall N = 83 Any reduction in lesion size** 8 (61.5%) 32 (82.1%) 13 (86.7%) 8 (100%) 8 (100%) 29 (80.6%) 40 (85.1%) 69 (83.1%) >50% reduction*** 4 (30.8%) 20 (51.3%) 4 (26.7%) 7 (87.5%) 7 (87.5%) 15 (41.7%) 27 (57.4%) 42 (50.6%) ≥90% reduction 2 (15.4%) 2 (5.1%) 1 (6.7%) 2 (25.0%) 1 (12.5%) 4 (11.1%) 4 (8.5%) 8 (9.6%) Complete resolution was confirmed in all three lesions by histology in the end-of-study biopsy. Visit 2 Day 1 Visit 3 Day 2 Visit 4 Day 15 Visit 5 Day 16 Visit 6 Day 36 Visit 7 Day 57 Visit 8 Day 78 Visit 9 Day 99 Follow Up 30 days after last dose Treatment PeriodScreening Period 28 days Follow-up Period Preferred Term Subjects (N) Events (n) Highest Grade Injection site edema 1 5 Mild (Grade 1) Injection site erythema 1 5 Mild (Grade 1) Influenza like illness 2 4 Moderate (Grade 2) Pyrexia 2 2 Mild (Grade 1) Injection site urticaria 1 2 Mild (Grade 1) *Analysis based on a data snapshot from 17SEP2026; unaudited data. This data became available after submission of the abstract. Exhibit 99.2
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