\nInnoviva, Inc. (NASDAQ: INVA) (\u201cInnoviva\u201d or the \u201cCompany\u201d), a diversified biopharmaceutical company with a core royalties portfolio, a leading critical care and infectious disease platform known as Innoviva Specialty Therapeutics (\u201cIST\u201d), and a portfolio of strategic investments in healthcare assets, today reported financial results for the second quarter ended June 30, 2026, and highlighted select corporate progress and achievements.<\/p>\n
\n\u201cInnoviva delivered another strong quarter, supported by durable cash generation from our royalty portfolio and continued excellent commercial momentum at IST, which achieved 46% year-over-year net product sales growth, including 26% growth in U.S. sales. We remain on track to achieve at least $150 million in IST U.S. net product sales in 2026, reflecting the differentiation of our marketed critical care and infectious disease portfolio and robust execution,\u201d said Pavel Raifeld, Chief Executive Officer of Innoviva.<\/p>\n
\n\u201cRecently, we also advanced several growth opportunities. This quarter, we announced a commercialization and licensing agreement with Dr. Reddy\u2019s Laboratories, expanding access to our top-performing antibiotic, XACDURO, in emerging markets. Additionally, we launched Nortiva Bio, a novel platform for long-acting oral medicine delivery, with large upside potential.\u201d<\/p>\n
\n\u201cOverall, we have been pleased with progress across our healthcare asset portfolio, despite market volatility. Our continued activity under the share repurchase program reflects our sustained conviction in the long-term prospects of our diversified business model — one that combines durable cash generation, strong operating revenue growth, and value creation in high-potential strategic opportunities.\u201d<\/p>\n
Financial Highlights for the Second Quarter of 2026<\/b><\/p>\n Key Business and R&D Highlights<\/b><\/p>\n About Innoviva<\/b><\/p>\n \nInnoviva is a diversified biopharmaceutical company with a core royalties portfolio, a leading critical care and infectious disease platform known as Innoviva Specialty Therapeutics (\u201cIST\u201d), and a portfolio of strategic investments in healthcare assets. Innoviva\u2019s royalty portfolio includes respiratory assets partnered with Glaxo Group Limited (\u201cGSK\u201d). Innoviva is entitled to receive royalties from GSK on sales of RELVAR\u00ae<\/sup>\/BREO\u00ae<\/sup> ELLIPTA\u00ae<\/sup> and ANORO\u00ae<\/sup> ELLIPTA\u00ae<\/sup>. Innoviva\u2019s critical care and infectious disease assets under the IST platform include GIAPREZA\u00ae<\/sup> (angiotensin II) for increasing blood pressure in adults with septic or other distributive shock, XACDURO\u00ae<\/sup> (sulbactam for injection; durlobactam for injection), co-packaged for intravenous use for the treatment of adults with hospital-acquired and ventilator-associated bacterial pneumonia caused by susceptible strains of Acinetobacter<\/i>baumannii-calcoaceticus<\/i>, XERAVA\u00ae<\/sup> (eravacycline) for the treatment of complicated intra-abdominal infections in adults, ZEVTERA (ceftobiprole), an advanced-generation cephalosporin antibiotic licensed from Basilea Pharmaceutica International Ltd, Allschwil, and NUZOLVENCE\u00ae<\/sup> (zoliflodacin), approved by the FDA for the oral treatment of uncomplicated urogenital gonorrhea in adults and pediatric patients 12 years of age and older weighing at least 35 kg. For more information about Innoviva, go to www.inva.com<\/a>. For information about Innoviva Specialty Therapeutics, go to www.innovivaspecialtytherapeutics.com<\/a>.<\/p>\n \nANORO\u00ae<\/sup>, RELVAR\u00ae<\/sup> and BREO\u00ae<\/sup> are trademarks of the GSK group of companies. ZEVTERA is a trademark of Basilea Pharmaceutica Ltd, Allschwil.<\/p>\n Forward-Looking Statements<\/b><\/p>\n \nThis press release contains certain \u201cforward-looking\u201d statements as that term is defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things, statements relating to goals, plans, objectives, and future events. Innoviva intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. The words \u201canticipate\u201d, \u201cexpect\u201d, \u201cgoal\u201d, \u201cintend\u201d, \u201cobjective\u201d, \u201copportunity\u201d, \u201cplan\u201d, \u201cpotential\u201d, \u201ctarget\u201d and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements involve substantial risks, uncertainties, and assumptions. These statements are based on the current estimates and assumptions of the management of Innoviva as of the date of this press release and are subject to known and unknown risks, uncertainties, changes in circumstances, assumptions and other factors that may cause the actual results of Innoviva to be materially different from those reflected in the forward-looking statements. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, among others, risks related to: expected cost savings; lower than expected future royalty revenue from respiratory products partnered with GSK; the commercialization of RELVAR\u00ae<\/sup>\/BREO\u00ae<\/sup> ELLIPTA\u00ae<\/sup>, ANORO\u00ae<\/sup> ELLIPTA\u00ae<\/sup>, GIAPREZA\u00ae<\/sup>, XERAVA\u00ae<\/sup>, XACDURO\u00ae<\/sup>, ZEVTERA\u00ae<\/sup> and NUZOLVENCE\u00ae<\/sup> in the jurisdictions in which these products have been approved; the strategies, plans and objectives of Innoviva (including Innoviva\u2019s growth strategy and corporate development initiatives); the timing, manner, and amount of potential capital returns to shareholders; the development of the LYNX\u00ae platform; the status and timing of clinical studies, data analysis and communication of results; the potential benefits and mechanisms of action of product candidates; expectations for product candidates through development and commercialization; the timing of regulatory approval of product candidates; and projections of revenue, expenses and other financial items; the timing, manner and amount of capital deployment, including potential capital returns to stockholders; and risks related to the Company\u2019s growth strategy. Other risks affecting Innoviva are described under the headings \u201cRisk Factors\u201d and \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations\u201d contained in Innoviva\u2019s Annual Report on Form 10-K for the year ended December 31, 2025 and Quarterly Reports on Form 10-Q, which are on file with the Securities and Exchange Commission (\u201cSEC\u201d) and available on the SEC\u2019s website at www.sec.gov<\/a>. Past performance is not necessarily indicative of future results. No forward-looking statements can be guaranteed, and actual results may differ materially from such statements. Given these uncertainties, you should not place undue reliance on these forward-looking statements. The information in this press release is provided only as of the date hereof, and Innoviva assumes no obligation to update its forward-looking statements on account of new information, future events or otherwise, except as required by law.<\/p>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2026<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2025<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2026<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2025<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n56,334<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n63,880<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n111,501<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n121,687<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n51,771<\/p>\n<\/td>\n 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\n1,172,841<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n1,702,727<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1,635,165<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2026<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2025<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n87,254<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n92,690<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(18,256<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1,552<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(49,551<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,430<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n19,447<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n92,568<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n550,941<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n304,964<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n570,388<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n397,532<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\u00a0<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20260805369250\/en\/<\/a><\/span><\/p>\n Investors and media contact KEYWORDS:<\/b> California United States North America<\/p>\n INDUSTRY KEYWORDS:<\/b> Biotechnology General Health Infectious Diseases Health Pharmaceutical<\/p>\n\n
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\n INNOVIVA, INC.<\/td>\n<\/tr>\n \n Condensed Consolidated Statements of Income<\/td>\n<\/tr>\n \n (in thousands, except per share data)<\/td>\n<\/tr>\n \n (Unaudited)<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n Three Months Ended<\/td>\n \n Six Months Ended<\/td>\n<\/tr>\n \n \n June 30,<\/td>\n \n June 30,<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Revenue:<\/td>\n \n \n \n \n \n \n \n <\/tr>\n \n Royalty revenue, net (1)<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Net product sales<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n License and other revenue<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Total revenue<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Cost of products sold (inclusive of amortization of inventory fair value adjustments)<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Amortization of acquired intangible assets<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Gross profit<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Operating expenses:<\/td>\n \n \n \n \n \n \n \n <\/tr>\n \n Selling, general and administrative<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Research and development<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Total operating expenses<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Income from operations<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Changes in fair values of equity method investments, net<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Changes in fair values of equity and long-term investments, net<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Interest and dividend income<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Interest expense<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Other expense, net<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Income (loss) before income taxes<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Income tax benefit (expense)<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Net income (loss)<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Net income (loss) per share:<\/td>\n \n \n \n \n \n \n \n <\/tr>\n \n Basic<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Diluted<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Shares used to compute net income (loss) per share:<\/td>\n \n \n \n \n \n \n \n <\/tr>\n \n Basic<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Diluted<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n (1) Total net revenue is comprised of the following (in thousands):<\/td>\n<\/tr>\n \n <\/tr>\n \n \n \n Three Months Ended<\/td>\n \n Six Months Ended<\/td>\n<\/tr>\n \n June 30,<\/td>\n \n June 30,<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n (unaudited)<\/td>\n \n (unaudited)<\/td>\n<\/tr>\n \n Royalties<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Amortization of capitalized fees<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Royalty revenue, net<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n<\/table>\n \n
\n INNOVIVA, INC.<\/td>\n<\/tr>\n \n Condensed Consolidated Balance Sheets<\/td>\n<\/tr>\n \n (in thousands)<\/td>\n<\/tr>\n \n (unaudited)<\/td>\n<\/tr>\n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n June 30,<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n Assets<\/td>\n \n \n \n <\/tr>\n \n Cash and cash equivalents<\/td>\n \n \n \n \n \n \n \n <\/tr>\n \n Royalty and product sale receivables<\/td>\n \n \n \n \n \n \n \n \n \n Inventory<\/td>\n \n \n \n \n \n \n \n \n \n Prepaid expense and other current assets<\/td>\n \n \n \n \n \n \n \n \n \n Current portion of ISP Fund investments<\/td>\n \n \n \n \n \n \n \n \n \n Property and equipment, net<\/td>\n \n \n \n \n \n \n \n \n \n Equity method and equity and long-term investments<\/td>\n \n \n \n \n \n \n \n \n \n Capitalized fees<\/td>\n \n \n \n \n \n \n \n \n \n Right-of-use assets<\/td>\n \n \n \n \n \n \n \n \n \n Goodwill<\/td>\n \n \n \n \n \n \n \n \n \n Intangible assets<\/td>\n \n \n \n \n \n \n \n \n \n Other assets<\/td>\n \n \n \n \n \n \n \n \n \n Total assets<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Liabilities and stockholders\u2019 equity<\/td>\n \n \n \n <\/tr>\n \n Other current liabilities<\/td>\n \n \n \n \n \n \n \n \n \n Accrued interest payable<\/td>\n \n \n \n \n \n \n \n \n \n Deferred revenue<\/td>\n \n \n \n \n \n \n \n \n \n Convertible senior notes, due 2028, net<\/td>\n \n \n \n \n \n \n \n \n \n Deferred tax liabilities, net<\/td>\n \n \n \n \n \n \n \n \n \n Income tax payable, long term<\/td>\n \n \n \n \n \n \n \n \n \n Other long term liabilities<\/td>\n \n \n \n \n \n \n \n \n \n Stockholders\u2019 equity<\/td>\n \n \n \n \n \n \n \n \n \n Total liabilities and stockholders\u2019 equity<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n<\/table>\n \n
\n INNOVIVA, INC.<\/td>\n<\/tr>\n \n Cash Flows Summary<\/td>\n<\/tr>\n \n (in thousands)<\/td>\n<\/tr>\n \n (unaudited)<\/td>\n<\/tr>\n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n Six Months Ended June 30,<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n Net cash provided by operating activities<\/td>\n \n \n \n \n \n \n \n \n \n Net cash used in investing activities<\/td>\n \n \n \n \n \n \n \n \n \n Net cash provided by (used in) financing activities<\/td>\n \n \n \n \n \n \n \n \n \n Net change<\/td>\n \n \n \n \n \n \n \n \n \n Cash and cash equivalents at beginning of period<\/td>\n \n \n \n \n \n \n \n \n \n Cash and cash equivalents at end of period<\/td>\n \n \n \n \n \n \n \n \n <\/p>\n
\n<\/b>
Irwin Tendler
\n
Head of Investor Relations
\n
Executive Director, Corporate Development
\n
investors.relations@inva.com<\/a><\/p>\n
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20260805369250\/en\/2867235\/3\/innoviva_navy.jpg\")
<\/td>\n<\/tr>\n