Innoviva Q1 2024 net income rises to $36.5 million; total revenue $77.5 million
Innoviva reported first quarter 2024 results for the period ended March 31, 2024. Total revenue rose to $77.5 million from $76.4 million, and net income increased to $36.5 million, or $0.58 basic per share, from $34.9 million, or $0.51 basic per share, a year earlier. Net product sales grew 66% to $19.1 million, while the company's share buyback program was completed by April 25, 2024.
Key points
- Total revenue was $77.5 million versus $76.4 million in Q1 2023; the prior year included $8.0 million of license revenue, and none was reported in Q1 2024.
- Net product sales were $19.1 million, up 66% from $11.5 million, led by XACDURO and GIAPREZA.
- Diluted earnings per share were $0.46 versus $0.42 in the prior year period.
- Share repurchases totaled $9.7 million in Q1 2024, and the program was completed through April 25, 2024 with a further approximately $5.3 million of repurchases.
The filing
Written by AI on Nov 8, 2026, 6:57 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 08, 2024.
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