Keenova Therapeutics plc

Foreign Filer

CIK 0001567892Non-AcceleratedPharmaceutical PreparationsL2IEFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-489.50M

Total Assets

$5.63B

Equity

$2.07B

Shares Out

39.58M

Op. Cash Flow

$125.00M

Business

Keenova Therapeutics plc develops, manufactures, markets and distributes specialty pharmaceutical products and therapies across branded and generic businesses. Its main offerings include branded specialty medicines (e.g., Acthar Gel, INOmax, Terlivaz, Amitiza), specialty generic finished-dose drugs and active pharmaceutical ingredients (APIs), and related drug-delivery systems and services. The company operates through two reportable segments: Specialty Brands (branded pharmaceuticals and lifecycle/device enhancements) and Specialty Generics (generic drugs and vertically integrated API manufacturing). It sells through wholesalers, specialty distributors, pharmacies, hospitals, government contracts and direct payer arrangements across the U.S. and international markets.

Summary from filing dated 2025-03-13

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2021 2021-12-31	FY 2020 2020-12-31	FY 2019 2019-12-31
Net sales	1,431	1,083	2,209	2,213	3,163
Cost of sales	788	544	1,317	1,544	1,741
Gross profit	643	539	892	669	1,421
Selling, general and administrative expenses	761	462	581	884	831
Combination, integration, and other related expenses	141	0	—	—	—
Research and development expenses	91	89	205	291	349
Restructuring (credits) charges, net	−2	11	—	—	—
Non-restructuring impairment charges	0	0	155	64	388
Liabilities management and separation costs	0	44	1	—	—
Operating loss	−348	−66	−203	−652	−1,822
Interest expense	−169	−228	—	—	—
Interest income	20	23	2	6	10
(Loss) gain on divestiture (Note 6)	−6	754	800,000	−17	34
Gain (loss) on debt extinguishment, net	16	−20	0	0	467
Other income (expense), net	6	−7	22	7	64
Reorganization items, net	0	0	—	—	—
(Loss) income from continuing operations before income taxes	−481	458	−830	−961	−1,592
Income tax (benefit) expense	−24	113	−106	9	−584
(Loss) income from continuing operations	−458	344	−724	−970	−1,007
(Loss) income from discontinued operations, net of tax	−32	134	6	25	11
Net (loss) income	−490	478	−717	−945	−997
(Loss) income from continuing operations (in dollars per share)	−16.35	17.48	−8.54	−11.48	−12
(Loss) income from discontinued operations, net of tax (in dollars per share)	−1.14	6.78	0.07	0.3	0.13
Net (loss) income (in dollars per share)	−17.5	24.26	−8.47	−11.18	—
Basic weighted-average shares outstanding (in shares)	28	20	85	85	84
(Loss) income from continuing operations (in dollars per share)	−16.35	17.41	−8.54	−11.48	−12
(Loss) income from discontinued operations, net of tax (in dollars per share)	−1.14	6.76	0.07	0.3	0.13
Net (loss) income (in dollars per share)	−17.5	24.17	−8.47	−11.18	−11.88
Diluted weighted-average shares outstanding (in shares)	28	20	85	85	84

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2023 2023-10-31	FY 2022 2022-12-31
Cash and cash equivalents	813	319	233	162	410
Accounts receivable, less allowance for doubtful accounts of $1.1 and $2.6	299	121	378	—	405
Inventories	554	314	983	—	948
Prepaid expenses and other current assets	255	164	—	—	—
Current assets of disposed business	0	608	—	—	—
Total current assets	1,920	1,527	1,762	—	2,036
Property, plant and equipment, net	185	117	322	—	458
Goodwill	32	0	—	—	—
Intangible assets, net	2,230	172	608	361	2,844
Deferred income taxes	655	567	801	—	476
Other assets	607	176	241	—	201
Long-term assets of disposed business	0	744	—	—	—
Total Assets	5,629	3,303	3,734	—	6,014
Current maturities of long-term debt	15	4	7	—	44
Accounts payable	78	33	100	—	114
Accrued payroll and payroll-related costs	121	75	83	—	50
Accrued interest	18	9	20	—	29
Acthar Gel-Related Settlement liability	34	21	22	—	17
Accrued rebates and returns	241	65	—	—	—
Accrued and other current liabilities	166	90	270	—	291
Current liabilities of disposed business	0	133	—	—	—
Total current liabilities	672	432	501	—	744
Long-term debt	2,532	910	1,756	—	3,028
Acthar Gel-Related Settlement liability	112	127	—	—	—
Deferred income taxes	116	0	0	—	300,000
Other income tax liabilities	19	26	20	—	18
Other liabilities	113	51	93	—	79
Long-term liabilities of disposed business	0	113	—	—	—
Total Liabilities	3,563	1,657	2,573	—	4,400
Commitments and contingencies (Note 20)	—	—	—	—	—
Preferred Shares, $0.001 par value, 3,000,000,000,000 authorized; none issued and outstanding	0	0	—	—	—
Additional paid-in capital	2,116	1,200	1,195	—	2,191
Accumulated other comprehensive (loss) income	1	6	4	—	11
(Accumulated deficit) retained earnings	−52	440	−38	—	−588
Total Shareholders' Equity	2,065	1,646	1,160	1,195	1,614
Total Liabilities and Shareholders' Equity	5,629	3,303	3,734	—	6,014

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2021 2021-12-31	FY 2020 2020-12-31	FY 2019 2019-12-31
Depreciation and amortization	131	74	676	885	951
Share-based compensation	44	7	10	25	34
Deferred income taxes	−54	137	−60	385	−604
Non-cash impairment charges	0	0	155	64	388
Inventory step-up amortization from acquisitions	209	0	—	—	—
Inventory provisions	31	9	12	19	18
Fair value adjustment in contingent consideration liabilities	14	3	—	—	—
Reorganization items, net	0	0	—	—	—
Non-cash (amortization) accretion expense	4	−4	—	—	—
Other non-cash items	17	4	−2	−22	−66
Accounts receivable, net	−16	1	98	38	32
Inventories	187	211	−14	−51	−23
Accounts payable	0	−9	−1	16	7
Accrued consulting fees	100,000	−21	14	38	—
Income taxes	25	−46	109	−434	−2
Acthar Gel-Related Litigation Settlement liability	−21	−21	0	—	—
Other	23	−500,000	43	−133	−162
Net cash provided by (used in) operating activities - continuing operations	125	−48	—	—	—
Capital expenditures	−50	−55	−55	−48	−133
Receipts of unrestricted cash, net of payments related to the Business Combination (Note 5)	333	0	—	—	—
Receipts of restricted cash related to the Business Combination (Note 5)	93	0	—	—	—
(Payments) proceeds from divestiture, net of divested cash (Note 6)	−6	876	16	−700,000	95
Other	2	4	2	37	30
Net cash provided by (used in) investing activities - continuing operations	373	825	—	—	—
Issuance of external debt	0	0	0	0	695
Repayment of external debt	−873	−782	−138	−140	−945
Divested cash from spin of Par Health	245	0	—	—	—
Makewhole premium (Note 15)	−24	−64	—	—	—
Debt financing costs	0	0	0	−9	−10
Payments for contingent value rights award cancellation	−30	0	—	—	—
Other	−6	−600,000	0	−37	−18
Net cash (used in) provided by financing activities - continuing operations	−1,179	−846	—	—	—
Net cash provided by (used in) operating activities - discontinued operations	68	209	—	—	—
Net cash used in investing activities - discontinued operations	−39	−35	—	—	—
Net cash provided by financing activities - discontinued operations	1,160	0	—	—	—
Net cash provided by (used in) discontinued operations	1,188	174	—	—	—
Effect of currency rate changes on cash	1	−3	—	—	—
Net change in cash, cash equivalents and restricted cash	508	102	278	304	455
Cash paid for interest, net	170	232	243	256	314

Filings

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What is Keenova Therapeutics plc's CIK number?

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