PITTSBURGH, Pa., Sept. 19, 2017 (GLOBE NEWSWIRE) -- Krystal Biotech, Inc., a gene therapy company dedicated to developing and commercializing novel treatments for patients suffering from dermatological diseases, today announced the pricing of its initial public offering. The offering was upsized to 3,960,000 shares of common stock at a price to the public of $10.00 per share for aggregate gross proceeds of $39,600,000, before underwriting discounts, commissions and expenses. In addition, Krystal has granted the underwriters a 30-day option to purchase up to an additional 594,000 shares of common stock to cover over-allotments, if any. The Company’s stock is expected to begin trading on the NASDAQ Capital Market (NASDAQ) under the ticker symbol “KRYS” on September 20, 2017. The offering is expected to close on September 22, 2017, subject to customary closing conditions.
Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE American:LTS), is acting as sole book-running manager in connection with the offering.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under securities laws of any such state or jurisdiction.
ABOUT KRYSTAL BIOTECH
Krystal Biotech, Inc. (NASDAQ:KRYS) is a gene therapy company dedicated to developing and commercializing novel treatments for patients suffering from dermatological diseases. For more information, please visit http://www.krystalbio.com.