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Keenova Reports Second Quarter 2026 Financial Results

MNK
  • Keenova Therapeutics reported second-quarter 2026 net sales from continuing operations of $517 million, up $253 million year-over-year, driven by Acthar Gel & XIAFLEX.
  • Acthar Gel net sales reached $205 million, representing a 17% increase, with full-year growth guidance raised to 20%-22%.
  • XIAFLEX net sales were $150 million, with full-year growth guidance tightened to high single-digits year-over-year.
  • The company recorded a loss from continuing operations of $221 million, offset by an adjusted EBITDA from continuing operations of $206 million.
  • A $208 million pre-tax impairment charge was recorded related to the divestiture of Percocet, marking the completion of the exit from the opioid business.
  • XIAFLEX Phase 3 data for plantar fibromatosis was positive, supporting a planned sBLA submission in the fourth quarter of 2026.
  • Enrollment for the XIAFLEX Phase 3 hammer toe study is expected to initiate in the third quarter of 2026.
  • The merger with Endo LP was completed on July 31, 2025, & the spin-off of Par Health was finalized on November 10, 2025, with Par Health reported as discontinued operations.
  • The company realized $25 million in synergies during the second quarter & remains on track to achieve $100 million in pre-tax merger synergies for 2026.
  • Pro forma full-year 2026 net sales guidance is set between $1.94 billion & $2.00 billion, excluding Percocet contributions.
  • Pro forma full-year 2026 Adjusted EBITDA guidance is set between $715 million & $745 million.
  • Keenova plans to list on the New York Stock Exchange in 2027 following further strategic progress & integration.
  • Conference call & webcast for investors are scheduled for August 11, 2026, at 8:00 a.m. ET.