Krystal Biotech stock rises after FDA approves treatment for rare skin disease

Krystal Biotech Inc.
KRYS,
+9.85%
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.