ystal Biotech (NASDAQ:YS) shares climbed 6.49% in premarket trading after the company reported first-quarter results that exceeded analyst expectations.
Robust Financial Performance
Adjusted earnings per share reached $1.48, surpassing the consensus estimate of $1.13 by $0.35. Revenue totaled $116.4 million, topping forecasts of $111.5 million and marking a 32% increase from the prior-year period.
The VYJUVEK therapy drove $116.4 million in net product sales during the quarter, achieving a gross margin of 95%. Since its launch, VYJUVEK has generated cumulative global sales of $846.7 million.
Expanded Patient Access
In the U.S., the company secured insurance coverage for 695 patients and added more than 60 new prescriptions in the first quarter. This brings the total unique prescriptions since launch to over 570.
CEO Outlook
CEO is S. ishnan stated, “Following a successful 2025, we enter 2026 with strong momentum, including readouts from two pivotal clinical studies for VYJUVEK and supportive global expansion.”
Pipeline Advancements
ystal Biotech completed patient enrollment in the Phase 3 trial of KB803 for corneal damage in dystrophic epidermolysis bullosa (DEB) patients, with 16 participants registered. Top-line results are expected in the fourth quarter of 2026.
The company also anticipates completing enrollment in the EMERALD-1 trial evaluating KB801 for neurotrophic keratitis ahead of year-end, involving 60 patients, followed by data readout.
Expenses and Guidance
Research and development expenses stood at $15.3 million, comparable to $14.3 million a year earlier. Selling, general, and administrative costs rose to $41 million from $32.6 million in the first quarter of 2025.
The company ended the quarter with $1 billion in cash and investments. For fiscal 2026, ystal Biotech guides combined non-GAAP R&D and SG&A expenses, excluding stock-based compensation, between $175 million and $195 million.
