#None #Dublin #XIAFLEX #Acthar Gel #Keenova

Keenova Therapeutics Reports Second Quarter 2026 Financial Results

Keenova Therapeutics plc has announced encouraging financial results for the second quarter of 2026, showcasing notable increases driven primarily by its flagship products, Acthar Gel and XIAFLEX. With this remarkable performance, the company is optimistic about maintaining momentum and continuing to enhance outcomes for patients with rare diseases.

Financial Highlights of Q2 2026

Keenova reported net sales from continuing operations of $517 million, marking an impressive increase of $253 million compared to the same period in 2025. This growth is primarily attributed to:

• - Acthar Gel net sales reaching $205 million, up by 17% year-over-year.
• -XIAFLEX net sales at $150 million, driven by robust demand in Peyronie's disease treatment.

Despite these successes, the company reported a loss from continuing operations of $221 million. This decline includes a sizeable impairment charge related to the recent divestiture of Percocet. However, adjusted EBITDA from continuing operations hit $206 million, underlining the core business's strength.

Brand Growth and Future Prospects

"Keenova delivered another successful quarter, highlighted by better-than-expected performance from our core brands and meaningful progress across our strategic priorities," stated Siggi Olafsson, Board Chair and CEO. The leadership's optimism stems from solid demand and execution, leading to an upward revision of their guidance for Acthar Gel's annual growth forecast to 20%-22% and a high single-digit increase for XIAFLEX.

Additionally, Keenova achieved critical milestones that solidify its future growth trajectory. Notable achievements in their pipeline include positive Phase 3 results for XIAFLEX in plantar fibromatosis, supporting a planned sBLA submission later in 2026. Furthermore, the company aims to initiate a Phase 3 study for hammer toe in the upcoming quarter.

Strategic Focus and Mergers

The successful completion of the merger between what was formerly Mallinckrodt plc and Endo LP, along with the subsequent spin-off of Par Health, has reshaped Keenova's operational landscape. The company is currently focused on optimizing its branded therapeutics portfolio, particularly after divesting from the opioid business, marking a commitment to high-value, patient-centric solutions.

Synergy and Future Outlook

In the second quarter of 2026, Keenova has already seen $25 million realized in synergies from the merger, with expectations of reaching $100 million in pre-tax merger synergies by the end of the fiscal year. This could potentially grow to $150 million in annual pre-tax run-rate synergies by the merger's third anniversary.

Looking ahead, Keenova plans to strengthen its market position with a NYSE listing in 2027, which aims to further enhance shareholder value and capitalize on the upward momentum created by its innovative product lines.

The revised full-year guidance for 2026 includes:

• - Acthar Gel net sales growth of 20%-22%.
• - XIAFLEX growth anticipated to be in the high single digits.
• - Pro forma net sales expected between $1.94 billion and $2.00 billion.
• - Pro forma adjusted EBITDA forecasted between $715 million and $745 million.

Conclusion

Keenova Therapeutics' ability to adapt and evolve its business model while reinforcing its commitment to specialty therapeutics for rare diseases positions it strongly in the market. As it advances through the year, the company continues to focus on delivering exceptional patient outcomes while also creating long-term value for its shareholders.