Innoviva Q3 2024 royalty revenue $60.5M (+6% YoY); net product sales $27.8M; net income $1.2M

Innoviva, Inc.

2024-Q3 EPS reported $0.05 revenue$266,905,000

Royalty revenue from GSK $60.5M, up 6% YoY; core royalty platform continued strong performance.
US net product sales $19.7M (+68% YoY) driven by GIAPREZA $13.1M, XACDURO $4.3M, XERAVA $2.3M.
Net income $1.2M ($0.02 basic EPS) vs $82.0M ($1.26) in Q3 2023; unfavorable $35.2M fair value change on Armata investment.
XACDURO nominated for Prix Galien USA Award; zoliflodacin NDA submission expected early 2025.
Cash and cash equivalents $260.6M; royalty and product sales receivables $91.1M as of Sep 30, 2024.

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