Krystal Biotech shares up 27% after company's skin drug receives expedited review designation from FDA

Shares of Krystal Biotech Inc. were up 27% in Monday intraday trade after the gene therapy company said it had received an expedited review designation from the FDA for its lead drug candidate to treat a skin condition called dystrophic epidermolysis bullosa. The condition, which involves severe blistering due to a lack of collagen in the skin, is currently incurable. Krystal's drug, called KB102, is a viral vector that delivers human COL7A1 genes -- which code for functional collagen -- directly to the patient's cells. The company also announced some positive results from a Phase 2 trial looking at six blister wounds being treated with KB103 -- five closed up completely, and the drug was well-tolerated, Krystal said. No serious adverse events or drug-related adverse events were reported, and there were no reports of inflammation or irritation in the KB103-treated wounds, the company said. Shares of Krystal have gained 76% in the year to date, while the S&P 500 has gained 17.8%.

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