Keenova Therapeutics reported third quarter net sales from continuing operations of 550 million dollars, and raised its full-year guidance on the strength of its two core brands. Acthar Gel net sales were 227 million dollars, up 25 percent on the prior-year period on higher patient demand, and XIAFLEX net sales were 164 million dollars, driven by demand in Peyronie’s disease and net price. The loss from continuing operations narrowed to 96 million dollars from 242 million dollars a year earlier, a comparison that includes a 151 million dollar pre-tax loss on the divestiture of Percocet in this year’s quarter and heavy merger-related costs in last year’s. Adjusted EBITDA from continuing operations was 233 million dollars.
The guidance move is specific. Pro forma net sales guidance rose to 2.00 billion to 2.025 billion dollars, from 1.94 billion to 2.00 billion dollars, and pro forma adjusted EBITDA guidance rose to 750 million to 770 million dollars, from 715 million to 745 million dollars. The company reiterated Acthar Gel net sales growth of 20 percent to 22 percent and raised expected XIAFLEX growth to 10 percent to 11 percent, from high single digits previously. It realised 31 million dollars of merger synergies in the quarter, now expects about 110 million dollars in 2026, and says it remains on track for 150 million dollars of annual run-rate synergies by the third anniversary of the Mallinckrodt and Endo combination, which closed on July 31, 2025.
On the pipeline, Keenova targets a supplemental FDA application for XIAFLEX in plantar fibromatosis in the first quarter of 2027, and enrollment began in August 2026 in a Phase 3 study in hammer toe. The results land a year after the company introduced itself under the Keenova name and completed the separation of its Par Health generics business, and they support its stated aim of becoming a pure-play branded therapeutics company.