Krystal Biotech (NASDAQ:KRYS) stock is rising higher on Monday thanks to positive results from a recent Phase 3 clinical trial.
The clinical trial behind today’s rise in KRYS stock includes data for treating patients suffering from dystrophic Epidermolysis Bullosa with VYJUVEK. This is the company’s investigational beremagene geperpavec.
The primary endpoint of the clinical trial was determining the effectiveness of VYJUVEK to completely heal wounds with topical application. The company notes that the results saw statistical significance at the six-month mark when compared to a placebo.
Krystal Biotech points out that this is a major move forward in treating dystrophic Epidermolysis Bullosa. VYJUVEK is the “first non-invasive, topical and redosable gene therapy in development.” It’s also the “only genetically corrective approach to treat dystrophic EB that has successfully completed a double blinded Phase 3 trial.”
Suma Krishnan, founder and COO of Krystal Biotech, said this about the study results boosting KRYS stock today.
“With these results in hand, we look forward to advancing discussions with regulatory authorities and will work quickly to bring this potential first-ever treatment to patients with dystrophic EB and their families who are in desperate need.”
KRYS stock is also seeing heavy trading today on the clinical trial news. As of this writing, more than 4 million shares of the stock have changed hands. That’s a massive jump from its daily average trading volume of about 154,000 shares.
KRYS stock is up 118.1% as of Monday morning but is only up 47.2% since the start of the year.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.