Innoviva(US:INVA)2025-05-07 20:16Financial Performance - First quarter 2025 gross royalty revenue from GSK was $61.3 million, slightly down from $61.9 million in Q1 2024[3] - U.S. net product sales for Q1 2025 reached $26.4 million, reflecting a 52% year-over-year growth from $17.4 million in Q1 2024[3] - Income from operations for Q1 2025 was $41.4 million, a 61% increase from $25.8 million in Q1 2024[3] - The first quarter 2025 net loss was $46.6 million, compared to a net income of $36.5 million in Q1 2024[7] - Innoviva's total revenue for Q1 2025 was $88.6 million, compared to $77.5 million in Q1 2024[12] Cash and Investments - Cash and cash equivalents totaled $319.1 million as of March 31, 2025[7] - Innoviva's strategic healthcare assets were valued at $457.6 million as of March 31, 2025, with $34.7 million invested in various assets during Q1 2025[5] - Net cash provided by operating activities increased to $48,617 million in Q1 2025 from $37,047 million in Q1 2024, representing a growth of approximately 31%[15] - Net cash used in investing activities decreased to $(34,674) million in Q1 2025 from $(43,038) million in Q1 2024, indicating a reduction of about 19%[15] - Cash and cash equivalents at the end of the period rose to $319,090 million in Q1 2025, up from $178,357 million in Q1 2024, reflecting an increase of approximately 79%[15] - The net change in cash for Q1 2025 was $14,126 million, compared to a net decrease of $(15,156) million in Q1 2024[15] - Cash and cash equivalents at the beginning of the period were $304,964 million in Q1 2025, compared to $193,513 million in Q1 2024, showing an increase of about 57%[15] Regulatory and Product Developments - The NDA filing for zoliflodacin is on track for submission to the U.S. FDA in the first half of 2025[7] - The U.S. commercial launch of ZEVTERA (ceftobiprole) is anticipated by mid-2025[2] Fair Value Changes - The company reported unfavorable changes in fair values of equity and long-term investments totaling $78.8 million in Q1 2025, compared to favorable changes of $22.0 million in Q1 2024[3]