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Gene therapy developer Krystal Biotech sets terms for $30 million IPO

September 7, 2017
KRYS

Krystal Biotech, a preclinical gene therapy biotech focused on dermatological diseases, announced terms for its IPO on Thursday.

The Pittsburgh, PA-based company plans to raise $30 million by offering 3.0 million shares at a price range of $9 to $11. Insiders intend to purchase $5 million worth of shares in the offering. At the midpoint of the proposed range, Krystal Biotech would command a market value of $88 million.

Krystal Biotech was founded in 2015 and plans to list on the Nasdaq under the symbol KRYS. Ladenburg Thalmann & Co. is the sole bookrunner on the deal. It is expected to price during the week of September 18, 2017.