secwatch.observer — SEC 8-K summary
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Issuer:     Innoviva, Inc. (INVA)
CIK:        0001080014
Form:       8-K
Filed at:   2022-11-09T23:59:59+00:00
Accession:  0001104659-22-116491
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Innoviva Q3 gross royalties $65.6M, income before taxes surges to $286.4M on TRC sale gain
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- Gross royalty revenues of $65.6M (flat YoY) from RELVAR/BREO ($55.7M) and ANORO ($9.9M).
- Income before taxes rose to $286.4M from $123.2M, primarily due to gain from sale of 15% TRC interest to Royalty Pharma for $282M.
- Completed acquisitions: Entasis for $42.4M and La Jolla for net cash $150.5M, expanding hospital/infectious disease portfolio.
- Board authorized new $100M share repurchase program; no termination date, management discretion.
- GSK reported RELVAR/BREO net sales $371.1M (+3% YoY) and ANORO $153.0M (-15% YoY), reflecting currency and pricing headwinds.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1080014/000110465922116491/0001104659-22-116491-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1080014/000110465922116491/tm2230075d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-116491

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