Krystal Biotech reported $119.2 million in global VYJUVEK revenue for the second quarter of 2026, a 24% increase year-over-year. The gene therapy for dystrophic epidermolysis bullosa has generated $965.9 million since launch, with a gross margin of 95%. The company has secured over 730 reimbursement approvals in the United States and expanded to more than 640 prescribers. VYJUVEK continues gaining traction in Germany, France, and Japan, with launches planned in Spain and Italy later this year. The UK approved VYJUVEK in May, and pricing discussions are underway. Additional marketing applications are expected in Switzerland and Australia during the second half of 2026. Krystal ended the quarter with $1.1 billion in cash and investments. The company is advancing multiple clinical programmes across eye, lung, and skin conditions.

Krystal Biotech's share price rose 7.9% following its promotion from the S&P 600 to the S&P 400 index earlier this month. The biotechnology company also joined the S&P 400 Health Care and Biotechnology indices. Additionally, Krystal filed a response with the US Patent and Trademark Office containing single-patient data from its investigational KB801 gene therapy for neurotrophic keratitis. The company noted the data showed complete closure of a persistent corneal epithelial defect in one patient from a discontinued study. Krystal emphasised the early-stage nature of the data and said it should not be used to draw efficacy conclusions. The index inclusion increases the company's exposure to mid-cap index funds. Analysts expect Krystal's investment case remains focused on its VYJUVEK rare disease franchise and upcoming pivotal data across its gene therapy pipeline.

Brown Capital Management's Small Company Fund added Krystal Biotech, Inc. (NASDAQ:KRYS) to its portfolio in the first quarter of 2026, according to its investor letter. The commercial-stage gene therapy company develops treatments for rare skin disorders using topical, re-dosable gene therapy. Krystal's lead product, VYJUVEK, is the first FDA-approved topical gene therapy for dystrophic epidermolysis bullosa. The treatment has exceeded commercialisation expectations with rapid patient adoption and strong payer acceptance, generating gross margins near 94%. The company reported $389 million in revenue for 2025 with a 42% operating margin. Brown Capital expects approximately 30% annual revenue growth and operating margins rising to 50% in coming years. The fund cited Krystal's recession-resistant revenue stream and expansion into European and Japanese markets as key investment drivers.