Innoviva Q2 revenue rises to $99.9 million; net loss of $34.7 million
Innoviva reported second quarter 2024 results on July 31, 2024. Total revenue rose to $99.9 million from $81.0 million a year earlier, but the company posted a net loss of $34.7 million, or $(0.55) per share, compared with net income of $1.3 million, or $0.02 per share, in the second quarter of 2023. The company attributed the loss mainly to unfavorable changes in the fair value of its equity and long-term investments, primarily from a lower share price of Armata Pharmaceuticals.
Key points
- Total revenue was $99.9 million versus $81.0 million in Q2 2023; net product sales were $21.7 million, up from $15.7 million.
- Net loss was $34.7 million, or $(0.55) per share, versus net income of $1.3 million, or $0.02 per share, a year earlier.
- Unfavorable fair value change in equity and long-term investments was $90.7 million, mainly from lower Armata Pharmaceuticals share price.
- Gross royalty revenue from GSK was $67.2 million, and the company completed its $100 million share repurchase program during the quarter.
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 July 31, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.