Revenue Performance - Third quarter 2024 gross royalty revenue from GSK was $60.5 million, a 6% increase from $57.0 million in Q3 2023[3] - U.S. net product sales for Q3 2024 reached $19.7 million, reflecting a 68% year-over-year growth from $11.8 million in Q3 2023[4] - Total net product sales for Q3 2024 were $27.8 million, including $8.1 million from ex-U.S. sales[4] - Total revenue for September 2024 was $89,508,000, an increase of 33% compared to $67,259,000 in September 2023[17] - Royalty revenue, net for September 2024 was $57,056,000, up 6% from $53,558,000 in September 2023[17] - Net product sales reached $27,822,000 in September 2024, significantly higher than $13,701,000 in September 2023, representing a 103% increase[17] Income and Expenses - Net income for Q3 2024 was $1.2 million, or $0.02 per share, compared to $82.0 million, or $1.26 per share, in Q3 2023[5] - The company reported a net income of $1,213,000 for September 2024, a significant drop from $82,046,000 in September 2023[17] - Basic net income per share for September 2024 was $0.02, down from $1.26 in September 2023[17] - Research and development expenses were $3,551,000 for September 2024, a decrease from $3,989,000 in September 2023[17] Cash and Assets - Total cash and cash equivalents as of September 30, 2024, amounted to $260.6 million, with receivables totaling $91.1 million[6] - Cash and cash equivalents at the end of the period increased to $260,630,000 from $193,513,000 at the beginning of the period[20] - Net cash provided by operating activities was $129,451,000 for September 2024, compared to $107,808,000 in September 2023[20] - Total assets decreased slightly to $1,231,612,000 as of September 30, 2024, from $1,243,507,000 as of December 31, 2023[18] - Total liabilities and stockholders' equity remained stable at $1,231,612,000 as of September 30, 2024[18] Strategic Initiatives - The company plans to submit a New Drug Application for zoliflodacin to the U.S. FDA in early 2025[2] - XACDURO was nominated for the Best Biotechnology Product by The Galien Foundation USA, highlighting its innovative impact[2] - The company reported a $35.2 million unfavorable net change in fair value of equity and long-term investments, primarily due to Armata Pharmaceuticals' lower share price[5] - The company remains focused on prudent capital allocation to maximize shareholder value and sees multiple opportunities for continued value creation[2]

Revenue and Sales Performance - Gross royalty revenue from GSK for Q2 2024 was $67.2 million, a 2.3% increase from $65.7 million in Q2 2023[164]. - Net product sales for Q2 2024 reached $21.7 million, representing a 38% increase compared to $15.7 million in Q2 2023[164]. - Total net royalty revenue increased to $63.7 million for the three months ended June 30, 2024, compared to $62.3 million for the same period in 2023[171]. - Total royalty revenue from RELVAR®/BREO® ELLIPTA® was $53.98 million for the three months ended June 30, 2024, compared to $54.45 million for the same period in 2023[171]. - Net product sales for Q2 2024 reached $21.7 million, a 38.2% increase from $15.7 million in Q2 2023, driven by sales of GIAPREZA®, XERAVA®, and XACDURO®[172][174]. - License revenue for Q2 2024 was $14.5 million, including $8.0 million from a regulatory milestone with Zai Lab, compared to $3.0 million in Q2 2023[174]. Product Development and Approvals - The company commenced commercial sales of XACDURO® in Q3 2023, which was approved by the FDA on May 23, 2023[162]. - Zoliflodacin, an investigational treatment for uncomplicated gonorrhea, reported positive Phase 3 clinical trial data on November 1, 2023, with an NDA submission expected in early 2025[167]. - XACDURO® was approved in China in May 2024 and named the preferred agent for treating Carbapenem-resistant Acinetobacter baumannii infections in July 2024[165]. Financial Performance and Expenses - Cost of products sold for Q2 2024 was $8.5 million, a decrease of 6% from $9.0 million in Q2 2023[175]. - Research and development expenses significantly decreased to $2.6 million in Q2 2024, down 83% from $15.0 million in Q2 2023, primarily due to the FDA approval of XACDURO®[177][178]. - Selling, general and administrative expenses increased to $27.7 million in Q2 2024, an 18% rise from $23.5 million in Q2 2023, attributed to resource reallocation and increased marketing efforts[179]. - Interest expense for Q2 2024 was $5.8 million, a 32% increase from $4.4 million in Q2 2023, mainly due to higher effective interest rates[182]. - The company recorded an income tax benefit of $4.6 million for Q2 2024, compared to an expense of $4.5 million in Q2 2023, with an effective tax rate of 68.4%[185]. Cash Flow and Financial Position - As of June 30, 2024, the company had net cash and cash equivalents of $217.0 million and accounts receivable totaling $26.8 million[186]. - Net cash provided by operating activities for the six months ended June 30, 2024, was $80.8 million, an increase of 26.4% from $63.9 million in the same period of 2023[188][189]. - Net cash used in investing activities for the six months ended June 30, 2024, was $43.0 million, compared to $35.7 million in the same period of 2023, reflecting an increase of 20.5%[191][192]. - Net cash used in financing activities for the six months ended June 30, 2024, was $14.2 million, significantly reduced from $146.2 million in the same period of 2023[193]. - Cash and cash equivalents are expected to be sufficient for at least the next 12 months to meet debt service and operating needs[187]. Strategic Initiatives and Acquisitions - The company expanded its portfolio through the acquisitions of Entasis Therapeutics and La Jolla Pharmaceutical in July and August 2022, respectively[162]. - The company’s corporate strategy focuses on maximizing the potential value of respiratory assets and pursuing opportunistic acquisitions in the healthcare industry[163]. Risks and Obligations - The company has contractual obligations of $192.5 million related to 2025 Notes and $261.0 million related to 2028 Notes, with interest rates of 2.5% and 2.125% respectively[194]. - The maximum royalty rate under the La Jolla Royalty Agreement increased to 18% starting January 1, 2024, with maximum aggregate royalty payments capped at $225.0 million[195]. - The company has approximately $9.7 million in outstanding purchase commitments under a Commercial Supply Agreement for the remainder of 2024[196]. - The company is exposed to inflationary pressures, which may adversely affect operating results in the near future[199]. - The company faces foreign exchange risk due to transactions in currencies other than U.S. dollars, but the majority of cash and investments are in U.S. dollars, mitigating significant impact[200].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FORM 10-Q For the transition period from to (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR Commission File Number: 000-30319 INNOVIVA, INC. (Exact Name of Registrant as Specified in its Charter) (State or Other Jurisdiction of Incorporation or Or ...

Exhibit 99.1 Innoviva Reports First Quarter 2024 Financial Results; Highlights Recent Company Progress Core royalty platform on track; receiving GSK royalties of $61.9 million Achieved net product revenues of $19.1 million, representing 66% year-over-year growth driven by launch of XACDURO and growth of key core product GIAPREZA Strong pipeline progress: positive Phase 3 zoliflodacin clinical trial results in uncomplicated gonorrhea highlighted at ESCMID Global 2024; on track to submit NDA in early 2025 Der ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Burlingame, CA (Address of principal executive offices) Registrant's telephone number, including area code: (650) 238-9600 | Title of Each Class | Trading Symbol(s) | Name of Each Exchange On Which Registe ...

Exhibit 99.1 Innoviva Reports Fourth Quarter and Full Year 2023 Financial Results; Highlights Recent Company Progress Core royalty platform on track; received GSK royalties of $69.6 million for fourth quarter Achieved net product revenues of $19.7 million for the fourth quarter of 2023 representing 35% year on year growth Strong pipeline progress in 2023: Approval and launch of first pathogen targeted antibacterial XACDURO for treatment of HABP/VABP caused by Acinetobacter infections; positive topline Phase ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 000-30319 INNOVIVA, INC. (Exact Name of Registrant as Specified in its Charter) (State or Other Jurisdiction of Incorporation o ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 000-30319 INNOVIVA, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 94-3265960 (State or Other Jurisdiction of ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 000-30319 INNOVIVA, INC. (Exact Name of Registrant as Specified in its Charter) (State or Other Jurisdiction of Incorporation or Or ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K | (Mark One) ☒ | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | | | --- | --- | --- | | | For the fiscal year ended December 31, 2022 | | | | or | | | ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | | | | For the transition period from to | | | | Commission File No. 000-30319 | | | | INNOVIVA, INC. | | | | (Exact name of re ...