On Monday, shares of gene therapy startup Krystal Biotech jumped 117% after the company announced good results from a treatment trial for a rare skin ailment.

VYJUVEKTM is being studied as a possible treatment for dystrophic Epidermolysis Bullosa (dystrophic EB), a rare and severe skin disease. The primary aim of complete wound healing at six months and the secondary endpoint of complete wound healing at three months were both reached in the GEM-3 study.Krystal Biotech - 6/24/2019 | Cowen

On the news, Krystal Biotech's stock soared to a high of $102.99.

Dystrophic Epidermolysis Bullosa is "referred to as 'the worst disease you've never heard of' because of the terribly devastating reality that people with this hereditary ailment endure," according to Suma Krishnan, the company's founder, and CEO.

"We are ecstatic to share good results from our pivotal GEM-3 study of VYJUVEKTM, which demonstrated that this topical gene therapy resulted in lasting wound healing in dystrophic EB lesions," Krishnan added.

The medicine was well tolerated by the patients. There were no significant adverse events or drug discontinuations reported as a result of the medicine.

The biologics license application (BLA) is expected to be submitted to the FDA in H1 2022, and the business plans to file a marketing authorization application in Europe shortly following the BLA.