Earnings Releases·Nov 10, 2026, 6:36 AM ET

Keenova Therapeutics — Third Quarter 2026 Earnings Summary

Net sales from continuing operations rose 32% year-over-year to $550 million in Q3 2026, while Adjusted EBITDA surged to $233 million from $45.7 million in the prior-year period, and the nine-month loss narrowed to $430.1 million.
The company raised full-year 2026 pro forma net sales guidance to $2.00–$2.025 billion and Adjusted EBITDA guidance to $750–$770 million, driven by better-than-expected performance from Acthar Gel and XIAFLEX.
Strategic progress includes the realization of $31 million in Q3 synergies, with the company on track to achieve $150 million in annual pre-tax run-rate synergies by the merger's three-year anniversary.
Liquidity strengthened with cash and cash equivalents reaching $1,085.6 million at September 30, 2026, while long-term debt decreased to $2,511.7 million.
XIAFLEX pipeline milestones include the initiation of the Hammer Toe Phase 3 study in August 2026 and a targeted FDA sBLA submission for plantar fibromatosis in Q1 2027.