Good day, and thank you for standing by. Welcome to the Keenova second quarter 2026 earnings announcement conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during this session, you will need to press star one one on your telephone. You will then hear an automated message advising that your hand is raised. To withdraw your question, please press star one one again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Gerard Meuchner. Sir, please go ahead. Thank you, operator, and welcome everyone. Before we begin, let me remind you that we will make forward-looking statements on this call, and actual results may differ materially from those expressed or implied in these statements. These statements are made as of the time of this call, and we undertake no obligation to update them except as required by law. Please refer to our SEC filings for a detailed discussion of the risks and uncertainties affecting our business. We will also reference certain non-GAAP financial measures on this call. Reconciliations to the most directly comparable GAAP measures are included in our earnings release and in the investor presentation available on the investor relations section of our website at keenova.com. We use our website as a channel to distribute important and time-critical company information, and you should look to the investor relations page of the website for this information. As noted in our earnings release on July 31, 2025, the company completed its merger with Endo and on November 10, 2025, completed the separation of Par Health. The financial results presented on today's call and in our presentation reflect Keenova's continuing operations and exclude the contribution of Percocet, which was divested on July 31, 2026. The comparable second quarter 2025 results presented today were prepared on a pro forma basis as if the merger and separation, as well as the divestiture of Percocet, had each occurred at the beginning of 2025 and also exclude Endo's international pharmaceuticals business, which was sold in 2025. Joining me on today's call are Siggi Olafsson, our Board Chair and Chief Executive Officer, and Christiana Stamoulis, our President and Chief Financial Officer. I'll now turn the call over to Siggi. Thanks, Gerard, and good morning, everyone. As our second quarter 2026 results show, Keenova continues to deliver on its goal of building a high-performing branded therapeutics company that provides a sustainable long-term value for our shareholders. We continue to see positive momentum supported by the strength of our core brands, Acthar Gel and XIAFLEX, and the focused execution of our teams. We also remain focused on optimizing the performance of our established brands. Placement of INOmax EVOLVE in the U.S. now exceeds 1,300 devices versus 945 at the end of 2025 as we continue to stabilize the brand. Sales of TERLIVAZ increased more than 20% in the quarter compared with the prior year period. While the established brands portfolio declined in the aggregate in the second quarter, we continue to take the actions necessary to support these brands as market conditions evolve. Given our strong year-to-date performance and outlook for the remainder of the year, we are raising our full-year guidance for Acthar, XIAFLEX, and total net sales excluding Percocet. Christiana will provide additional detail on our updated guidance. In addition, we remain on track to achieve $150 million of annual pre-tax run rate synergies by the third anniversary of the merger. Finally, consistent with our strategic direction, during the second quarter, we announced the sale of the Percocet business to Par Health. With the transaction closing on July 31, 2026, and upon completion of certain transition services, we will have fully exited the opioids business, allowing us to sharpen focus on our core branded therapeutics portfolio. Let's turn to slide six to provide an update on our pipeline specific to XIAFLEX. As we announced on July 8, we received positive top-line results from our phase III study of plantar fibromatosis, a chronic medical condition that causes nodules composed largely of excess collagen to form in the connective tissue that supports the arch of the foot. We believe that approximately 300,000 Americans are diagnosed with plantar fibromatosis at any given time, and there are limited treatment options beyond symptom relief measures or surgery for this condition. This is an important development because it reinforces our confidence in the podiatry franchise that we look to build as we expand the number of therapeutic areas that XIAFLEX can address. We intend to submit to the FDA our supplemental BLA for this indication in the fourth quarter of 2026 as part of an effort to expand our XIAFLEX portfolio and help address unmet patient needs. Consistent with this strategy, we held an End-of-Phase 2 meeting with the FDA in June regarding the use of XIAFLEX to treat hammer toe. We now plan to begin enrollment in the third quarter for the phase III study as part of our larger effort to pursue promising opportunities for this core brand and to accelerate its long-term growth profile. We remain excited by the potential to bring XIAFLEX to podiatry patients with unmet needs. Before I turn the call over to Christiana, let me take a moment to discuss our planned listing on the New York Stock Exchange. Over the past year, we have made significant progress against our strategic priorities, including integrating our businesses, completing the spin-off of Par Health, divesting opioids from our portfolio, and executing on our pipeline, as demonstrated by the positive XIAFLEX PFI study results and advancement of the XIAFLEX hammertoe program into phase III. We have also continued to deliver strong growth and performance across our core businesses. These activities have been the focus and commitment of our internal teams, and these achievements will allow us to introduce Keenova as a publicly traded company that is high-performing, innovative, and purely brand-focused while well-positioned for future growth. Based on this progress and the opportunity to further strengthen our position, we now plan to list on the New York Stock Exchange in 2027. Taking this additional time will allow us to continue to build on our momentum and create a greater value for shareholders. I will now turn the call over to Christiana to review our financial results in more detail. Thank you, Siggi, and good morning, everyone. Before reviewing our results, I want to reiterate that the second quarter 2026 financial results presented on this call and in our presentation reflect Keenova's continuing operations and exclude contributions from Percocet. Comparative 2025 results have also been prepared on a pro forma basis, excluding the contribution of Percocet to facilitate a consistent year-over-year comparison. Moving to our second quarter 2026 financial results on slide seven. Net sales from our core brands, Acthar Gel and XIAFLEX, increased 13% year-over-year, reflecting the continued strength of both brands. Total net sales were $500 million in the second quarter, an increase of 6% compared with the prior year period. Adjusted EBITDA was $190 million, reflecting growth in Acthar Gel and XIAFLEX, and the realization of merger synergies partially offset by increased investment in our core brands. Let's now take a closer look at the key drivers of our performance, starting with Acthar Gel. Net sales for Acthar Gel in the second quarter of 2026 were $205 million, representing an increase of 17% compared to net sales of $175 million in the second quarter of 2025. We continue to see strong growth in the product driven by robust patient demand, category expansion, sooner than expected productivity from our investment in growing the sales force, and favorable payer mix. We also continue to see strong momentum in the adoption of our innovative SelfJect device, which now accounts for nearly 85% of new patient prescriptions. Turning to XIAFLEX. Net sales for XIAFLEX in the second quarter of 2026 were $150 million, an increase of 8% compared to net sales of $139 million in the second quarter of 2025, when the product was owned by Endo. Growth was driven primarily by higher pricing and increased demand from Peyronie's disease, reflecting improved patient persistency. In May, we rolled out a new awareness campaign for Dupuytren's contracture as part of our broader direct-to-consumer strategy. We expect to see the benefits from this effort as the year progresses. Moving to slide 10. We remain on track to achieve our targets of $100 million in synergies this year and $150 million of annual run rate synergies by the third anniversary of the merger. In the second quarter, we realized $25 million in synergies. Turning to our balance sheet. We ended the second quarter with a strong financial position that supports continued investment in long-term growth. At quarter end, we had approximately $964 million in cash and cash equivalents and $2.474 billion of total net debt outstanding, representing a net debt to covenant adjusted EBITDA ratio of approximately 1.74 x. Lastly, let's turn to our full-year guidance, which now excludes Percocet. Given our strong year-to-date performance, we are raising our full-year guidance for Acthar Gel from mid-teens growth to 20%-22% year-over-year growth. We are also raising the low end of our XIAFLEX guidance and now expect growth in the high single digits. In addition, excluding the contribution previously expected from Percocet, we are raising our net sales and adjusted EBITDA guidance, driven by the performance of our core brands. As you can see on slide 12, even excluding Percocet, we continue to expect full-year net sales of $1.94 billion-$2 billion as the stronger performance of Acthar Gel and XIAFLEX is anticipated to offset the net sales contribution previously expected from Percocet. Finally, as you can see on slide 13, we now expect adjusted EBITDA of $715 million-$745 million, as strong performance from our core brands is expected to partially offset the EBITDA contribution previously expected from Percocet. With that, I'll turn the call back to Siggi for closing remarks. Thank you, Christiana. Our second quarter performance demonstrated that Keenova's momentum continues to build. Our core brands are generating sales beyond our plan, our operational improvements are taking hold, our clinical trials are progressing exactly as we hoped, and the team is engaged and excited for the future. Our goal remains achieving sustainable revenue growth and long-term margin expansion in support of enhanced cash flow generation and long-term shareholder value. As we conclude today's call, I want to express my gratitude for our team and their commitment to serving the patients who rely on us. We'll now open the call for Q&A. To ask a question, please press star one one on your telephone and wait for your name to be announced. To withdraw your question, please press star one one again. We ask that you please limit yourself to one question and one follow-up. One moment while we compile our Q&A roster. Our first question will come from the line of Pranav Sriniv asan with Diameter Capital Partners. Your line is open. Please go ahead. Hey, Siggi. Hey, Christiana. Congrats on a nice quarter. Just one question on Acthar and one on XIAFLEX. Any commentary you can share on how Acthar has trended in July? If we're looking at the scripts data, the script data continues to be quite robust. One of your competitors shared a pretty good commentary on July momentum in the ACTH market last week. Any thoughts you can guide us to on Acthar in more real-time? No, I think overall, we don't guide month by month. We guide for the full year. I think what we saw in second quarter was the momentum in demand. We're also seeing the pickup still in SelfJect. Really, I think we are seeing the tailwinds for the Acthar business. For July, we don't take specific months guidance. Overall, we are excited, and I think that's reflected in the updated guidance. Yes. That's exactly it. What you can see with the updated guidance is that we see the drivers that contributed to growth in Q2 continuing for the rest of the year. Okay, great. On XIAFLEX, you guys had a nice study that you posted results for in July. How should we think about or how can you maybe help us understand what the total addressable market of the PFI indication could be for XIAFLEX? Maybe any sort of penetration estimates or way you can help us think about what a sales opportunity could be from that? Thanks. Yeah. We haven't given out guidance yet because obviously, the guidance would depend on the indication you get from the FDA. But at the end of the day, for PFI, our estimate is that 300,000 Americans have PFI at any point in time. Today, they have a very limited available treatment. It's mainly some pain treatments and then a surgery. Surgery underneath the foot is never preferred by patients or not even by the doctor. I think the opportunity is there. I think what we need to do is obviously file the sBLA and work with the FDA and also do a little bit more work with the podiatrists to understand what the opportunity. But really, I think we are going into an indication where there's no good treatment at the moment. Okay, great. Then just last thing quickly on cash. You guys are sitting on about $1 billion of cash on the balance sheet. Any thoughts there in terms of do you guys plan to use that for any sort of M&A or any share repurchase? What's the capital allocation priority with that? Our priority is to continue to invest in growth. As we have shared in the past, we are looking for commercial-stage assets that could add to our revenue and growth in the near term, and we continue to focus on identifying the right assets to bring in that could also benefit from the significant capabilities, commercial capabilities that we have in place. Thanks, Pranav. Thank you, Siggi and Christiana. We have no more questions. We thank everyone on the call for joining us today. We look forward to engaging with you in the days and weeks ahead. If you have any questions, the best way to contact us will be via email, and we will work to get back to you as soon as possible. Thank you, and enjoy your day. This concludes today's conference call. Thank you for participating, and you may now disconnect.
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