---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-22-051406"
form_type: "8-K"
ticker: "INVA"
cik: "0001080014"
company_name: "Innoviva, Inc."
filed_at: "2022-04-28T23:59:59+00:00"
generated_at: "2026-06-26T03:05:38.219990+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Innoviva Q1 royalties up 5% to $93.5M; invested $45M in Armata, $15M in Entasis

## Summary
- Gross royalty revenues of $93.5M (+5% YoY); TRELEGY sales up 33% to $450.9M.
- Issued $261M 2.125% convertible notes due 2028; repurchased $144.8M of 2023 notes.
- Invested $45M in Armata for ~69% ownership; $15M convertible debt financing to Entasis.
- Non-binding offer to acquire Entasis at $2.00/share; consolidated Entasis financials.
- Net cash $183.3M (excl. $33.5M Entasis cash); receivables $93.5M from GSK.

## SEC filing metadata
- accession: 0001104659-22-051406
- form_type: 8-K
- ticker: INVA
- cik: 0001080014
- company_name: Innoviva, Inc.
- filed_at: 2022-04-28T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1080014/000110465922051406/0001104659-22-051406-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1080014/000110465922051406/tm2213783d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-22-051406
- JSON: https://secwatch.observer/filing/0001104659-22-051406.json
- Plain text: https://secwatch.observer/filing/0001104659-22-051406.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.