Innoviva Q3 revenue rises to $89.5 million; net income falls to $1.2 million
Innoviva reported third quarter 2024 total revenue of $89.5 million, up from $67.3 million a year earlier, driven by higher net product sales and royalties. Net income fell to $1.2 million, or $0.02 per share, from $82.0 million, or $1.26 per share, mainly because of unfavorable fair value changes in its equity and long-term investments.
Key points
- Total revenue was $89.5 million for the quarter ended September 30, 2024, compared with $67.3 million for the same quarter of 2023.
- Net product sales were $27.8 million, including U.S. net product sales of $19.7 million, a 68% increase from $11.8 million.
- Net change in fair value of equity and long-term investments was unfavorable by $35.2 million, primarily due to a lower share price of Armata Pharmaceuticals.
- Cash and cash equivalents totaled $260.6 million as of September 30, 2024.
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 November 06, 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.