Statement of Changes in Beneficial Ownership (Form 4)

Ownership Submission

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person * Krishnan Krish S 2. Issuer Name and Ticker or Trading Symbol Krystal Biotech, Inc. [KRYS] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director __X__ 10% Owner __X__ Officer (give title below) _____ Other (specify below) President and CEO (Last) (First) (Middle) C/O KRYSTAL BIOTECH, INC., 2100 WHARTON STREET, SUITE 701 3. Date of Earliest Transaction (Month/Day/Year) 12/13/2024 (Street) PITTSBURGH, PA 15203 4. If Amendment, Date Original Filed (Month/Day/Year) 6. Individual or Joint/Group Filing (Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 12/13/2024 S(1) 6,302 D $163.069(2) 1,555,960 D Common Stock 12/13/2024 S(1) 8,381 D $163.9131(3) 1,547,579 D Common Stock 12/13/2024 S(1) 4,909 D $164.9306(4) 1,542,670 D Common Stock 12/13/2024 S(1) 1,977 D $165.8235(5) 1,540,693 D Common Stock 12/13/2024 S(1) 923 D $166.9274(6) 1,539,770 D Common Stock 12/13/2024 S(1) 911 D $169.6484(7) 1,538,859 D Common Stock 12/13/2024 S(1) 957 D $170.4687(8) 1,537,902 D Common Stock 12/13/2024 S(1) 640 D $171.6288(9) 1,537,262 D Common Stock 90,000 I By Krishnan Spousal Trust Common Stock 50,000 I By Krishnan Family Trust(10) Common Stock 12/13/2024 S(11) 5,942(12) D $163.0435(2) 1,494,940 I By Spouse(13) Common Stock 12/13/2024 S(11) 8,923(12) D $163.9154(14) 1,486,017 I By Spouse(13) Common Stock 12/13/2024 S(11) 4,723(12) D $164.915(15) 1,481,294 I By Spouse(13) Common Stock 12/13/2024 S(11) 2,114(12) D $165.7947(5) 1,479,180 I By Spouse(13) Common Stock 12/13/2024 S(11) 798(12) D $166.9582(6) 1,478,382 I By Spouse(13) Common Stock 12/13/2024 S(11) 200(12) D $168.3103(16) 1,478,182 I By Spouse(13) Common Stock 12/13/2024 S(11) 953(12) D $169.4802(17) 1,477,229 I By Spouse(13) Common Stock 12/13/2024 S(11) 727(12) D $170.4303(18) 1,476,502 I By Spouse(13) Common Stock 12/13/2024 S(19) 620(12) D $171.6245(9) 1,475,882 I By Spouse(13)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.	SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)	5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)	6. Date Exercisable and Expiration Date (Month/Day/Year)	7. Title and Amount of Underlying Securities (Instr. 3 and 4)	8. Price of Derivative Security (Instr. 5)	9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
Director	10% Owner	Officer	Other
Krishnan Krish S C/O KRYSTAL BIOTECH, INC. 2100 WHARTON STREET, SUITE 701 PITTSBURGH, PA 15203	X	X	President and CEO

Signatures

/s/ Krish S. Krishnan	12/13/2024
**Signature of Reporting Person	Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	The sales reported were made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 13, 2024. The Rule 10b5-1 trading plan started on September 12, 2024 and will terminate on September 13, 2025 and contemplates quarterly sales of 25,000 shares of common stock with a limit price of $150.00 per share.
(2)	The transaction was executed in multiple trades ranging from $162.5000 to $163.4900. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price within the range set forth herein.
(3)	The transaction was executed in multiple trades ranging from $163.5000 to $164.4900. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price within the range set forth herein.
(4)	The transaction was executed in multiple trades ranging from $164.5000 to $165.4500. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price within the range set forth herein.
(5)	The transaction was executed in multiple trades ranging from $165.5100 to $166.5000. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price within the range set forth herein.
(6)	The transaction was executed in multiple trades ranging from $166.5100 to $167.5000. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price within the range set forth herein.
(7)	The transaction was executed in multiple trades ranging from $169.2100 to $170.1700. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price within the range set forth herein.
(8)	The transaction was executed in multiple trades ranging from $170.2500 to $171.0100. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price within the range set forth herein.
(9)	The transaction was executed in multiple trades ranging from $171.6200 to $171.7600. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price within the range set forth herein.
(10)	Directly beneficially owned by the Krishnan Family Trust. The Reporting Person and his spouse are each joint beneficial owners of the trust with joint voting and investment control.
(11)	The sales reported were made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person's spouse, Suma M. Krishnan, on June 13, 2024. The Rule 10b5-1 trading plan started on September 12, 2024 and will terminate on September 13, 2025 and contemplates quarterly sales of 25,000 shares of common stock with a limit price of $150.00 per share.
(12)	These same shares are also being reported on a Form 4 by the Reporting Person's spouse, Suma M. Krishnan.
(13)	Directly beneficially owned by Suma M. Krishnan, the spouse of the Reporting Person.
(14)	The transaction was executed in multiple trades ranging from $163.5000 to $164.4800. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price within the range set forth herein.
(15)	The transaction was executed in multiple trades ranging from $164.5000 to $165.4550. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price within the range set forth herein.
(16)	The transaction was executed in multiple trades ranging from $168.2000 to $168.6800. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price within the range set forth herein.
(17)	The transaction was executed in multiple trades ranging from $169.2200 to $170.1100. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price within the range set forth herein.
(18)	The transaction was executed in multiple trades ranging from $170.2700 to $171.0900. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price within the range set forth herein.
(19)	The transaction was executed in multiple trades ranging from $1710.7600 to $171.6200. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price within the range set forth herein.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.

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