Innoviva Q2 2024: net loss $34.7M on investment fair-value hit; royalty revenue $67.2M

Innoviva, Inc.

2024-Q2 EPS reported $0.03 revenue$177,397,000

GSK royalty revenue $67.2M vs $65.7M YoY; net product sales $21.7M (+38% YoY).
Net loss of $34.7M ($0.55 basic loss) due to $90.7M unfavorable change in equity investments.
License revenue $14.5M including $8M milestone from XACDURO approval in China.
Completed $100M share repurchase program; repurchased 0.4M shares in Q2 for $5.3M.
XACDURO approved in China; named preferred agent in 2024 IDSA guidance; XERAVA recommended by SIS guidelines.

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