Krystal Biotech Inc. KRYS shares rose Friday after the biotech drug company received Food and Drug Administration approval of a rare skin disease treatment. Krystal shares rose as much as 8% to an intraday high of $94.61 after the FDA approved the company’s drug Vyjuvek to treat dystrophic epidermolysis bullosa, a rare genetic condition that causes a person’s skin to tear very easily, and lacks any approved treatment. The approval is for patients as young as six months old, the company said.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
