secwatch.observer — SEC 8-K summary
======================================

Issuer:     Innoviva, Inc. (INVA)
CIK:        0001080014
Form:       8-K
Filed at:   2022-04-28T23:59:59+00:00
Accession:  0001104659-22-051406
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1080014/000110465922051406/0001104659-22-051406-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1080014/000110465922051406/tm2213783d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-051406

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer