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Keenova Therapeutics (MNK) investor relations material
Keenova Therapeutics Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 continuing-operations net sales were $549.5M, up 32.1% YoY; comparison was affected by Endo acquisition timing and a full quarter of XIAFLEX sales.
Strong core-brand performance and merger synergies supported higher FY 2026 net sales and Adjusted EBITDA guidance.
Financial highlights
Pro forma continuing-operations net sales were $544.1M versus $464.4M in Q3'25; Q3 reported sales were $549.5M.
Q3 Adjusted EBITDA from continuing operations was $232.5M; loss from continuing operations narrowed to $96.1M from $242.0M.
Nine-month continuing-operations net loss widened to $430.1M from $347.7M, reflecting impairment and divestiture losses.
Q3 gross profit was $335.1M versus $172.4M; continuing-operations cash from operations for 9M was $290.0M versus $41.1M used in the prior-year period.
Outlook and guidance
FY 2026 net sales guidance, excluding Percocet, increased to $2.00B–$2.025B; Adjusted EBITDA guidance rose to $750M–$770M.
Acthar Gel growth guidance remained 20%–22%; XIAFLEX growth guidance increased to 10%–11%.
Guidance includes anticipated 2026 merger synergies and excludes future M&A or divestitures.
Plantar fibromatosis sBLA submission is targeted for Q1 2027; Phase III hammer toe study enrollment began in August 2026.
Q4 comparisons face Acthar Gel shipping-day headwinds and reversal of XIAFLEX’s Q3 shipment-timing benefit.
- Q2 2026 net sales jumped 96% to $517M, but a $208M impairment drove a $221M loss.MNK
Q2 2026 - Q1 2026 net sales doubled, but merger costs led to a $113.5M–$114M operating loss.MNK
Q1 2026 - 2026 AGM features key votes on directors, auditors, compensation, capital, and U.S. listing readiness.MNK
Proxy filing - AGM to vote on directors, auditor, executive pay, capital reduction, and U.S. listing readiness.MNK
Proxy filing - Double-digit growth in 2025, strong cash flow, and robust 2026 outlook driven by core franchises.MNK
Q4 2025 - Q3 2025 net sales up 49% to $753.1M, led by Acthar Gel growth and Endo merger contributions.MNK
Q3 2025 - Merger completed, branded growth drives 2025 outlook with sales guided up to $3.62B.MNK
Q2 2025 - Q2 sales up 8.3%, guidance raised, and Therakos sale to reduce net debt by 50%+.MNK
Q2 2024 - Net sales rose, losses narrowed, and Therakos sale will cut net debt by over 60%.MNK
Q3 2024
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