Keenova Therapeutics plc
Keenova Therapeutics (formerly Mallinckrodt) reported Q3 FY2026 results: net sales from continuing operations of $549.5M, up $133.4M (32%) YoY, driven by Acthar Gel (+25% to $226.5M) and XIAFLEX. Loss from continuing operations narrowed to from $242.0M, with GAAP EPS of $(2.43). Adjusted EBITDA from continuing operations was $233M. The company raised FY2026 guidance: pro forma net sales to $2.00B–$2.025B (from $1.94B–$2.00B) and pro forma Adjusted EBITDA to $750M–$770M (from $715M–$745M).
- Net sales from continuing operations rose 32% YoY to $549.5M.
- Acthar Gel net sales grew 25% to $226.5M; XIAFLEX grew 82%.
- Loss from continuing operations narrowed to from $242.0M.
- Adjusted EBITDA from continuing operations was $233M.
- FY2026 pro forma Adjusted EBITDA guidance raised to $750M–$770M.
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A post-merger branded therapeutics company delivering accelerating core-brand growth and raising full-year guidance signals successful integration and commercial momentum.
Post-merger Mallinckrodt-Endo entity executing a pure-play branded therapeutics strategy, with XIAFLEX label expansion as the key growth catalyst.
$151M pre-tax loss on Percocet divestiture; results reflect complex merger/separation accounting with Par Health as discontinued operations.