Krystal Biotech Inc (NASDAQ: KRYS) shares spiked after the gene therapy company announcing positive results from its KB103 clinical trial on Monday.
The stock was higher by 46.11% at $42.59 at the time of publication Monday.
KB103 is Krystal’s main product that aims to treat dystrophic epidermolysis bullosa, an incurable skin blistering condition caused by a lack of collagen.
This particular gene therapy closes the majority of wounds in patients with a rare skin disorder called recessive dystrophic epidermolysis bullosa.
“New treatments for patients suffering from EB (epidermolysis bullosa) are desperately needed, especially one that provides a convenient, painless way to administer treatment for patients suffering with this debilitating disease and to reduce their travel burden,” Dr. Peter Marinkovich, associate professor of dermatology at Stanford University and principal investigator in the GEM study, said in a statement.
“These exciting data in the Phase 1/2 trials are supportive of this very promising new approach for treating this debilitating disease."
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