Why Is KRYSTAL BIOTECH INC (KRYS) Stock Down Today?

Krystal Biotech shares fell 14.34% to $284.64 on Monday. The decline followed the company’s third-quarter earnings report, which included a $400 million share repurchase program and revised 2026 non-GAAP operating expenses to $155 million to $165 million. However, the stock dropped as the company delayed key pipeline data into 2027.

What Happened

Krystal Biotech reported third-quarter net income of $63.1 million, down from $79.4 million in the year-ago period, which had included a $31.4 million tax benefit. VYJUVEK revenue surged 30% year over year to $127.3 million, with gross margins reaching 94%. Total sales for the product have exceeded $1.1 billion since launch. Despite these figures, the company announced that data for its pipeline programs would be pushed to 2027. H.C. Wainwright maintained a positive stance on the stock despite these timing updates. The company also outlined a $400 million share repurchase program over two years.

What The Data Shows

The stock opened at $339.76, a 2.2% gap up from the prior close of $332.29. It reached a session high of $347.75 at 7:05 AM ET before sliding to a session low of $281.40 at 11:30 AM ET. Volume reached 0.5 million shares, which is 1.5 times the three-month daily average. The stock printed 23 fresh 52-week lows on November 2, 2026. Over the last 8 sessions, the stock had moved up 3.1%. The company has a market cap of $9.8 billion and a P/E ratio of 41.7. Revenue grew 22.6% on a trailing twelve-month basis, with a net margin of 54.8%. Three insider sales totaling $26.2 million were disclosed in the last 90 days, including sales by President and CEO Krishnan Krish S and President Krishnan Suma on September 4, 2026.

What To Watch

Investors will monitor the company’s execution of the $400 million buyback and the timing of pipeline data expected in 2027.