Table of Contents 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, 2020 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 Burlingame, CA 94010 (Address of Principal Executive Offices) (650) 238-9600 (Registrant's Telephon ...

Table of Contents 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, 2020 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 Othe ...

E ENTASIS Company Confidential Targeted Solutions for Antibacterial Resistance Precision antibiotics focused against critical pathogens June 2020 Disclaimer 1 This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as ''anticipate,'' ''believe,'' ''continue,'' ''could,'' ''estimate,'' ''expect,'' ''intend,'' ''may,'' ''plan,'' ''potential,'' ''predict,'' ''project,'' ''target,'' ''should,'' ''would,'' and similar expression ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) O F THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 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 Ot ...

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, 2019 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 registrant as specified in its charter) Delaware (State or other jurisdiction of i ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☐ 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) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 OR Delaware 94-3265960 (State or ...

Table of Contents 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, 2019 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 (I.R.S. Employ ...

PART I — FINANCIAL INFORMATION [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) The company's financial statements for the quarter ended March 31, 2019, show an increase in total assets and stockholders' equity compared to year-end 2018, with net income rising to $40.0 million from $30.3 million in the prior-year period, driven by higher royalty revenue and significantly lower operating expenses, alongside strong cash flow from operations at $76.7 million and the adoption of the new lease standard (ASC 842) on January 1, 2019 [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2019 | December 31, 2018 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $65,151 | $62,417 | | Total current assets | $251,519 | $199,043 | | **Total assets** | **$590,114** | **$548,193** | | **Liabilities & Equity** | | | | Total current liabilities | $3,810 | $5,700 | | Long-term debt, net | $384,744 | $382,855 | | **Total stockholders' equity** | **$199,943** | **$159,052** | [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Condensed Consolidated Statements of Operations (in thousands, except per share data) | Metric | Q1 2019 | Q1 2018 | | :--- | :--- | :--- | | Royalty revenue from a related party, net | $55,183 | $52,380 | | Total operating expenses | $3,015 | $11,685 | | Income from operations | $52,168 | $40,695 | | **Net income** | **$40,019** | **$30,330** | | Net income attributable to Innoviva stockholders | $33,790 | $29,581 | | **Diluted net income per share** | **$0.31** | **$0.27** | [Condensed Consolidated Statements of Comprehensive Income](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income) Condensed Consolidated Statements of Comprehensive Income (in thousands) | Metric | Q1 2019 | Q1 2018 | | :--- | :--- | :--- | | Net income | $40,019 | $30,330 | | Comprehensive income | $40,032 | $30,326 | | Comprehensive income attributable to Innoviva stockholders | $33,803 | $29,577 | [Condensed Consolidated Statements of Stockholders' Equity (Deficit)](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Stockholders'%20Equity%20(Deficit)) - Total stockholders' equity increased from **$159.1 million** at December 31, 2018, to **$199.9 million** at March 31, 2019, primarily driven by net income of **$40.0 million**[19](index=19&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Condensed Consolidated Statements of Cash Flows (in thousands) | Cash Flow Activity | Q1 2019 | Q1 2018 | | :--- | :--- | :--- | | Net cash provided by operating activities | $76,655 | $49,914 | | Net cash provided by (used in) investing activities | ($74,167) | $26,513 | | Net cash provided by (used in) financing activities | $246 | ($122,625) | | **Net increase (decrease) in cash** | **$2,734** | **($46,198)** | [Notes to Unaudited Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) - Innoviva's business is focused on royalty management, with a portfolio including respiratory assets partnered with GSK, such as RELVAR®/BREO® ELLIPTA®, ANORO® ELLIPTA®, and TRELEGY® ELLIPTA®[23](index=23&type=chunk) Net Revenue from GSK Agreements (in thousands) | Product Royalties | Q1 2019 | Q1 2018 | | :--- | :--- | :--- | | RELVAR/BREO | $42,740 | $46,160 | | ANORO | $8,570 | $8,724 | | TRELEGY | $7,329 | $952 | | **Total royalties from a related party** | **$58,639** | **$55,836** | - The company adopted the new lease accounting standard (ASU 2016-02, Leases (Topic 842)) on January 1, 2019, resulting in the recognition of a **$1.5 million** right-of-use asset and **$1.6 million** in lease liabilities[27](index=27&type=chunk)[28](index=28&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=16&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management reports a 5% year-over-year increase in total net revenue to $55.2 million for Q1 2019, primarily driven by strong growth in TRELEGY® ELLIPTA® royalties, which offset declines in RELVAR®/BREO® and ANORO® royalties due to pricing pressures, while operating expenses decreased significantly by $8.7 million mainly from the absence of one-time severance and settlement costs incurred in Q1 2018, and the company maintains a strong liquidity position with $192.2 million in cash and marketable securities, believing it has sufficient resources for at least the next 12 months GSK Net Sales of Key Products - Q1 2019 vs Q1 2018 | Product | Q1 2019 Net Sales | Q1 2018 Net Sales | % Change | | :--- | :--- | :--- | :--- | | RELVAR®/BREO® ELLIPTA® | $284.9M | $307.7M | -7% | | ANORO® ELLIPTA® | $131.8M | $134.2M | -2% | | TRELEGY® ELLIPTA® | $112.7M | $14.6M | +672% | - General and administrative expenses decreased by **66%** to **$3.0 million** in Q1 2019 from **$9.0 million** in Q1 2018, with the prior year's quarter including **$3.2 million** in cash severance payments and a **$2.7 million** settlement reimbursement to Sarissa Group[74](index=74&type=chunk) - Interest expense decreased by **40%** to **$4.6 million** in Q1 2019, primarily due to a lower average outstanding debt balance following prepayments on the Term B Loan in 2018[77](index=77&type=chunk) - The company believes its cash from future royalties, along with existing cash, cash equivalents, and marketable securities, will be sufficient to meet debt service and operating needs for at least the next 12 months[82](index=82&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=23&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company reported no significant changes to its market risk profile or its management of market risk since the disclosures made in its 2018 Annual Report on Form 10-K - There have been no significant changes in the company's market risk or how it is managed compared to what was disclosed in the Annual Report on Form 10-K for the year ended December 31, 2018[92](index=92&type=chunk) [Item 4. Controls and Procedures](index=23&type=section&id=Item%204.%20Controls%20and%20Procedures) Based on an evaluation as of March 31, 2019, the company's management, including the Interim Principal Executive Officer and Chief Accounting Officer, concluded that disclosure controls and procedures were effective, with no material changes in internal control over financial reporting during the quarter - Management concluded that as of March 31, 2019, the company's disclosure controls and procedures were effective at a reasonable assurance level[93](index=93&type=chunk) - No material changes occurred in the company's internal control over financial reporting during the quarter ended March 31, 2019[95](index=95&type=chunk) PART II. OTHER INFORMATION [Item 1. Legal Proceedings](index=24&type=section&id=Item%201.%20Legal%20Proceedings) The company reports that it is not currently a party to any material legal proceedings - The company is not a party to any material legal proceedings[97](index=97&type=chunk) [Item 1A. Risk Factors](index=24&type=section&id=Item%201A.%20Risk%20Factors) There have been no material changes to the risk factors previously disclosed in the company's Annual Report on Form 10-K for the year ended December 31, 2018 - No material changes have occurred to the risk factors described in the 2018 Form 10-K[98](index=98&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=24&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no unregistered sales of equity securities during the period - None[99](index=99&type=chunk) [Item 3. Defaults Upon Senior Securities](index=24&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reported no defaults upon senior securities - None[100](index=100&type=chunk) [Item 6. Exhibits](index=24&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the quarterly report, which include officer certifications as required by the Sarbanes-Oxley Act and the Interactive Data File (XBRL) - The exhibits filed with this report include Certifications of the Principal Executive Officer (31.1) and Principal Financial Officer (31.2), Certifications Pursuant to 18 U.S.C. Section 1350 (32), and the Interactive Data File (101)[103](index=103&type=chunk) Signatures [Signatures](index=25&type=section&id=Signatures_details) The report was duly signed and authorized on May 1, 2019, by Geoffrey Hulme, the Interim Principal Executive Officer, and Marianne Zhen, the Chief Accounting Officer - The report was signed on May 1, 2019, by Geoffrey Hulme (Interim Principal Executive Officer) and Marianne Zhen (Chief Accounting Officer)[107](index=107&type=chunk)

La Jolla Pharmaceutical Company (LJPC) Q4 2018 Results Conference Call March 4, 2019 4:30 PM ET Company Participants Sandra Vedrick - Director of Investor Relations and Human Resources George Tidmarsh - President and Chief Executive Officer Dennis Mulroy - Chief Financial Officer Jennifer Carver - Chief Operating Officer Conference Call Participants Joon Lee - SunTrust Robinson Phil Nadeau - Cowen and Company Kyung Yang - Jefferies Ed White - H.C. Wainwright Tessa Romero - JPMorgan Operator Welcome to the L ...

Use these links to rapidly review the document Table of Contents ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA PART IV UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ý ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 or o 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 INNOV ...