secwatch.observer — SEC 8-K summary
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Issuer:     Innoviva, Inc. (INVA)
CIK:        0001080014
Form:       8-K
Filed at:   2022-07-13T23:59:59+00:00
Accession:  0001140361-22-025945
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Innoviva sells 15% TRC stake to Royalty Pharma for ~$282M upfront plus $50M milestone
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- Upfront cash payment of $282M; potential $50M sales-based milestone payment.
- Retained full ownership of TRC's investments in InCarda, ImaginAb, Gate Neurosciences, and Nanolive SA.
- Retained royalty rights on ANORO ELLIPTA and RELVAR/BREO ELLIPTA after closing.
- Theravance Biopharma concurrently selling its 85% TRC stake to Royalty Pharma.
- Transaction expected to close July 2022; includes amendments to GSK collaboration agreement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1080014/000114036122025945/0001140361-22-025945-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1080014/000114036122025945/ny20004305x24_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-22-025945

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