Innoviva, Inc
(NASDAQ:INVA)

Innoviva, Inc. engages in the development and commercialization of pharmaceuticals. The company has long-acting beta2 agonist (LABA) collaboration agreement with Glaxo Group Limited to develop and commercialize once-daily products for the treatment of chronic obstructive pulmonary disease and asthma...

Website: http://www.inva.com

Founded: 1996

Full Time Employees: 5

Sector: Healthcare

Industry: Biotechnology

Pharmaceuticals

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Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-09-30	2018-06-30	2018-03-31	2017-09-30	2017-06-30	2017-03-31	2016-09-30	2016-06-30	2016-03-31	2015-09-30	2015-06-30	2015-03-31	2014-09-30	2014-06-30	2014-03-31	2013-09-30	2013-06-30	2013-03-31	2012-09-30	2012-06-30	2012-03-31	2011-09-30	2011-06-30	2011-03-31	2010-09-30	2010-06-30	2010-03-31	2009-09-30	2009-06-30	2009-03-31	2008-09-30	2008-06-30	2008-03-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30

revenue:
royalty revenue, net of amortization of capitalized fees paid of 3,456 in the three months ended march 31, 2026 and 2025	55,167,000
net product sales	41,371,000	59,064,000	47,294,000	35,493,000	30,279,000	28,935,000	27,822,000	21,651,000	19,084,000	19,675,000	13,701,000	15,727,000	11,514,000	14,587,000	5,107,000
license and other revenue	1,456,000	653,000	610,000	910,000	546,000
total revenue	97,994,000	114,613,000	107,800,000	100,283,000	88,632,000	91,806,000	89,508,000	99,898,000	77,499,000	85,840,000	67,259,000	80,992,000	76,372,000	65,803,000	67,257,000
yoy	10.56%	24.84%	20.44%	0.39%	14.37%	6.95%	33.08%	23.34%	1.48%	30.45%	0.00%
qoq	-14.50%	6.32%	7.50%	13.15%	-3.46%	2.57%	-10.40%	28.90%	-9.72%	27.63%	-16.96%	6.05%	16.06%	-2.16%
cost of products sold	15,607,000	32,309,000	25,643,000	10,590,000	8,842,000	7,165,000	9,990,000	8,472,000	10,971,000	13,130,000	10,182,000	8,979,000	8,749,000	10,113,000	3,680,000
amortization of acquired intangible assets	6,554,000	6,637,000	6,618,000	6,547,000	6,475,000	6,511,000	6,511,000	6,440,000	6,440,000	6,510,000	6,511,000	4,958,000	3,805,000	4,070,000	1,511,000
gross profit	75,833,000	75,667,000	75,539,000	83,146,000	73,315,000
yoy	3.43%
qoq	0.22%	0.17%	-9.15%	13.41%
gross margin %	77.39%	66.02%	70.07%	82.91%	82.72%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%
operating expenses:
selling, general and administrative	32,438,000	32,124,000	27,291,000	26,412,000	27,491,000	31,326,000	26,219,000	27,740,000	30,405,000	26,319,000	28,636,000	23,542,000	19,735,000	17,454,000	27,810,000																													22,834,000	12,282,000
research and development	5,241,000	4,555,000	13,670,000	7,983,000	4,396,000	3,665,000	3,551,000	2,560,000	3,878,000	2,356,000	3,989,000	14,989,000	12,588,000	9,985,000	11,725,000	13,884,000	5,838,000	40,000	449,000	38,000	49,000	219,000	1,010,000	559,000									311,000	348,000	354,000	286,000	370,000	392,000	547,000	638,000	712,000	1,909,000	2,125,000	43,387,000	33,395,000	31,739,000	26,416,000	27,026,000	29,549,000	33,202,000	27,837,000	22,798,000	20,464,000	18,537,000	18,705,000	20,351,000	19,541,000	20,020,000	19,557,000	20,075,000	19,996,000	26,779,000	31,964,000	43,497,000	48,858,000	38,002,000	39,103,000	40,751,000	48,708,000	41,023,000	36,249,000	28,050,000	29,355,000
total operating expenses	37,679,000	36,679,000	40,961,000	34,395,000	31,887,000											25,666,000	12,330,000	3,153,000	3,309,000	4,266,000	6,035,000	5,689,000	4,264,000	3,155,000	2,563,000	2,332,000	4,962,000	4,347,000	3,015,000	4,019,000	4,411,000	11,685,000	8,621,000	10,732,000	11,149,000	5,391,000	6,595,000	6,644,000	5,128,000	5,547,000	6,151,000	10,541,000	10,728,000		45,677,000	43,113,000	34,731,000	34,780,000	37,139,000	41,059,000	35,633,000	30,046,000	27,633,000	25,147,000	25,696,000	26,827,000	26,596,000	26,846,000	27,892,000	26,619,000	32,315,000	35,945,000	40,426,000	53,009,000	57,656,000	46,154,000	46,971,000	49,650,000	55,982,000	47,290,000	42,383,000	36,104,000	35,833,000
income from operations	38,154,000	38,988,000	34,578,000	48,751,000	41,428,000											82,554,000	77,729,000	104,527,000	94,553,000	96,540,000	79,483,000	84,787,000	84,430,000	75,791,000	76,115,000	73,639,000	60,793,000	59,760,000	52,168,000	57,661,000	62,675,000	40,695,000	40,022,000	47,830,000	29,343,000	27,918,000	25,877,000	17,532,000	8,434,000	5,108,000	745,000									86,040,000
yoy	-7.90%															-14.49%	-2.21%	23.28%	11.99%	27.38%	4.42%	15.14%	38.88%	26.83%	45.90%	27.71%	-3.00%	46.85%	30.35%	20.55%	113.59%	45.77%	54.66%	172.82%	247.91%	446.55%	3373.42%
qoq	-2.14%	12.75%	-29.07%	17.68%												6.21%	-25.64%	10.55%	-2.06%	21.46%	-6.26%	0.42%	11.40%	-0.43%	3.36%	21.13%	1.73%	14.55%	-9.53%	-8.00%	54.01%	1.68%	-16.32%	63.00%	5.10%	7.89%	47.60%	107.87%	65.11%	585.64%
operating margin %	38.94%	34.02%	32.08%	48.61%	46.74%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	Infinity%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%
changes in fair values of equity method investments	157,650,000	111,149,000	30,751,000	13,082,000	-13,549,000	21,256,000	18,231,000	60,108,000	-35,342,000	-9,506,000	-71,980,000	19,911,000	-15,817,000
changes in fair values of equity and long-term investments	33,575,000	42,669,000	31,510,000	11,280,000	-65,299,000	15,206,750	16,936,000	30,556,000	13,335,000					16,970,250	-130,000	-58,600,000	-9,411,000	-42,943,000	33,613,000	45,315,000	55,045,000
interest and dividend income	10,987,000	6,151,000	5,472,000	4,925,000	4,538,000	-5,768,000	-5,500,000	-3,474,000	-4,399,000	-4,786,000	-4,114,000	-3,553,000	-3,365,000	-3,188,000	-2,135,000	724,000	322,000
interest expense	-5,437,000	-3,309,000	-4,015,000	-4,663,000	-4,711,000	4,749,000	5,807,000	5,802,000	5,851,000	5,952,000	4,396,000	4,382,000	4,427,000	4,028,000	5,096,000	-3,655,000	-3,010,000	-4,841,000	-4,790,000	-4,745,000	-4,694,000	-4,651,000	-4,603,000	-4,561,000	-4,516,000	-4,689,000	-4,693,000	-4,661,000
other expense	-366,000	-612,000	-479,000	-777,000	-996,000	-126,000	914,000	973,000	1,236,000	680,000	1,047,000	1,896,000	1,346,000	2,623,000	-28,000	-528,000	-250,000									-223,000	-115,000
income before income taxes	234,563,000	195,036,000	97,817,000	72,598,000	-38,589,000	24,694,000	6,849,000	-39,279,000	45,124,000	61,201,000	85,952,000	5,805,000	41,140,000	-64,688,000	286,424,000	20,495,000	44,718,000	56,489,000	123,177,000	136,179,000	129,431,000	90,758,000	50,487,000	118,116,000	94,884,000	70,265,000	57,609,000	56,494,000	48,527,000
income tax expense	-47,968,000	-30,883,000	-7,909,000		-7,995,000	4,362,000	5,636,000	-4,594,000	8,592,000	-330,000	3,906,000	4,525,000	6,275,000	3,626,000	57,077,000	-876,000	6,860,000	10,839,000	20,531,000	25,333,000	19,736,000	11,172,250	8,866,000	19,891,000	15,932,000	7,374,750	10,558,000	10,433,000	8,508,000														-278,000
net income attributable to innoviva stockholders	186,595,000	164,153,000	89,908,000	63,688,000	-46,584,000	20,332,000	1,213,000	-34,685,000	36,532,000	61,531,000	82,046,000	1,280,000	34,865,000	-68,314,000	265,523,000	939,000	15,773,000	10,345,000	72,438,000	88,948,000	94,123,000	53,903,000	28,218,000	76,844,000	65,437,000	45,949,000	39,809,000	37,740,000	33,790,000	47,089,000	54,626,000	29,581,000
yoy	-500.56%	707.36%	7312.04%	-283.62%	-227.52%	-66.96%	-98.52%	-2809.77%	4.78%	-190.07%	-69.10%	36.32%	121.04%	-760.36%	266.55%	-98.94%	-83.24%	-80.81%	156.71%	15.75%	43.84%	17.31%	-29.12%	103.61%	93.66%	-2.42%	-27.12%	27.58%
qoq	13.67%	82.58%	41.17%	-236.72%	-329.12%	1576.17%	-103.50%	-194.94%	-40.63%	-25.00%	6309.84%	-96.33%	-151.04%	-125.73%	28177.21%	-94.05%	52.47%	-85.72%	-18.56%	-5.50%	74.62%	91.02%	-63.28%	17.43%	42.41%	15.42%	5.48%	11.69%	-28.24%	-13.80%	84.67%
net income margin %	190.41%	143.22%	83.40%	63.51%	-52.56%	22.15%	1.36%	-34.72%	47.14%	71.68%	121.99%	1.58%	45.65%	-103.82%	394.79%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%
net income per share																																																																										-0.678	-0.49
basic	2.52	2.37	1.3	1.01	-0.74	0.013	0.02	-0.55	0.58																																						-0.39			1.01
diluted	2.22	1.95	1.08	0.77	-0.74	0.013	0.02	-0.55	0.46																																						-0.39			0.93
shares used to compute net income per share:
basic	74,160	2,494	69,058	62,865	62,709	15,689.75	62,569	62,526	63,185
diluted	84,849	184	84,964	84,452	62,709	15,755	62,951	62,526	84,531
royalty revenue, net of amortization of capitalized fees paid of 3,456 in the three months ended september 30, 2025 and 2024, and 10,368 in the nine months ended september 30, 2025 and 2024		45,395,750	59,896,000
royalty revenue, net of amortization of capitalized fees paid of 3,456 in the three months ended june 30, 2025 and 2024, and 6,912 in the six months ended june 30, 2025 and 2024				63,880,000
income tax benefit				-8,910,000
royalty revenue, net of amortization of capitalized fees paid of 3,456 in the three months ended march 31, 2025 and 2024					57,807,000
royalty revenue, net of amortization of capitalized fees paid of 3,456 in the three months ended september 30, 2024 and 2023, and 10,368 in the nine months ended september 30, 2024 and 2023						44,803,250	57,056,000
license revenue						4,783,750	4,630,000	14,505,000				3,000,000	8,000,000
expenses:
cost of license revenue													1,600,000
total expenses						67,112,000	82,659,000	139,177,000	32,375,000	24,639,000	-18,693,000	75,187,000	35,232,000	130,491,000	-219,167,000
royalty revenue, net of amortization of capitalized fees paid of 3,456 in the three months ended june 30, 2024 and 2023, and 6,912 in the six months ended june 30, 2024 and 2023								63,742,000
royalty revenue, net of amortization of capitalized fees paid of 3,456 in the three months ended march 31, 2024 and 2023									58,415,000
royalty revenue, net of amortization of capitalized fees paid of 3,456 in the three months ended september 30, 2023 and 2022, and 10,368 in the nine months ended september 30, 2023 and 2022										43,170,250	53,558,000
gain on sale of theravance respiratory company, llc															-266,696,000
loss on debt extinguishment														5,165,500			-20,662,000
changes in fair values of other equity and long-term investments										1,221,750	2,640,000	83,000	2,164,000
net income										61,531,000	82,046,000	1,280,000	34,865,000	-68,314,000	229,347,000	21,371,000	37,858,000	45,650,000	102,646,000	110,846,000	109,695,000	75,016,000	41,621,000	98,225,000	78,952,000	57,862,000	47,051,000	46,061,000	40,019,000	50,167,000	56,616,000	30,330,000	23,767,000	35,146,000	16,845,000	15,033,000	14,597,000	4,435,000	-4,584,000	-7,810,000	-10,667,000	-21,271,000	-63,564,000	-67,703,000	-46,985,000	-36,429,000	-37,360,000	-34,692,000	-37,120,000	84,594,000	-30,626,000	-25,045,000	-22,667,000	-21,222,000	-20,806,000	-22,536,000	-22,183,000	-21,692,000	-19,217,000	-20,928,000	-27,026,000	-29,764,000	-32,364,000	-45,125,000	-49,450,000	-37,837,000	-37,780,000	-41,475,000	-48,952,000		-37,786,000	-31,716,000	-31,451,000	-29,171,000	-22,287,000
net income attributable to noncontrolling interests															-36,176,000
basic net income per share attributable to innoviva stockholders										0.96	1.26	0.02	0.51	-0.98	3.81	0.01	0.23	0.28	1.04	1.01	0.93	0.53	0.28	0.76	0.65	0.45	0.39	0.37	0.33	0.47	0.54	0.29
diluted net income per share attributable to innoviva stockholders										0.75	0.98	0.02	0.42	-0.7	2.8	0.05	0.2	0.24	0.9	0.9	0.84	0.49	0.26	0.69	0.59	0.42	0.36	0.34	0.31	0.43	0.49	0.27
shares used to compute innoviva basic and diluted net income per share:
shares used to compute basic net income per share										-581	64,953	65,341	67,786	4	69,731	69,643	69,544	-4,236	69,458	88,423	101,365	14	101,358	101,324	101,235	16	101,191	101,151	101,059	100,936	100,873	100,604	106,841	107,614	107,487	109,282	111,359	112,482
shares used to compute diluted net income per share										-628	86,164	65,489	89,788	176	95,830	95,653	93,730	-4,226	81,699	100,639	113,624	11	113,572	113,545	113,509	15	113,415	113,391	113,376	113,363	113,399	113,566	119,796	120,463	120,336	121,993	124,316	113,178
royalty revenue, net of amortization of capitalized fees paid of 3,456 in the three months ended june 30, 2023 and 2022, and 6,912 in the six months ended june 30, 2023 and 2022												62,265,000
royalty revenue, net of amortization of capitalized fees paid of 3,456 in the three months ended march 31, 2023 and 2022													56,858,000
royalty revenue from a related party, net of amortization of capitalized fees paid to a related party of 3,456 in the three months ended september 30, 2022 and 2021, and 10,368 in the nine months ended september 30, 2022 and 2021														65,107,250	62,150,000
royalty revenue from a related party, net of amortization of capitalized fees paid to a related party of 3,456 in the three months ended june 30, 2022 and 2021, and 6,912 in the six months ended june 30, 2022 and 2021																108,220,000
general and administrative																11,782,000	6,492,000	3,113,000	2,860,000	4,228,000	5,986,000	5,470,000	3,254,000	2,596,000	2,563,000	2,332,000	4,962,000	4,347,000	3,015,000	4,019,000	4,411,000	8,985,000	8,310,000	10,384,000	10,795,000	5,105,000	6,225,000	6,252,000	4,581,000	4,909,000	5,439,000	8,632,000	8,603,000			11,374,000	8,315,000	7,754,000	7,590,000	7,857,000	7,796,000	7,248,000	7,169,000	6,610,000	6,991,000	6,476,000	7,061,000	6,796,000	7,052,000	6,494,000	7,256,000	9,166,000	8,462,000	9,512,000	8,798,000	8,152,000	7,868,000	8,899,000	7,274,000	4,578,000	5,042,000	6,620,000	5,070,000
net income attributable to noncontrolling interest																20,432,000	22,085,000	35,305,000	30,208,000	21,898,000	15,572,000	21,113,000	13,403,000	21,381,000	13,515,000	11,913,000	7,242,000	8,321,000	6,229,000	3,078,000	1,990,000	749,000
royalty revenue from a related party, net of amortization of capitalized fees paid to a related party of 3,456 in the three months ended march 31, 2022 and 2021																	90,059,000
royalty revenue from a related party, net of amortization of capitalized fees paid to a related party of 3,456 in the three months ended september 30, 2021 and 2020, and 10,368 in the nine months ended september 30, 2021 and 2020																		71,046,500	97,862,000
revenue from collaborative arrangements with a related party																								10,000,000
total net revenue																		107,680,000	97,862,000	100,806,000		90,476,000	88,694,000	78,946,000						61,680,000	67,086,000	52,380,000	48,643,000	58,562,000	40,492,000	33,309,000	32,472,000	24,176,000	13,562,000	10,655,000	6,896,000	999,000	934,000	165,000
other income																		-509,000	-652,000	-951,000	-433,000	21,250	-13,000	30,000	68,000			-8,000	1,000		39,000					56,000	1,719,000				1,178,000	255,000	83,000			8,192,000
interest income																		125,750	453,000	20,000	30,000	23,000	41,000	158,000	1,302,000	1,538,000	1,624,000	1,403,000	975,000	370,000	380,000	391,000	376,000	306,000	236,000	162,000	157,000	92,000	90,000	85,000	116,000	93,000	165,000	188,000	192,000	189,000		158,000	90,000	56,000	81,000	118,000	145,000
royalty revenue from a related party, net of amortization of capitalized fees paid to a related party of 3,456 in the three months ended june 30, 2021 and 2020, and 6,912 in the six months ended june 30, 2021 and 2020																				100,806,000
royalty revenue from a related party, net of amortization of capitalized fees paid to a related party of 3,456 in three months ended march 31, 2021 and 2020																					85,518,000
royalty revenue from a related party, net of amortization of capitalized fees paid to a related party of 3,456 in the three months ended september 30, 2020 and 2019, and 10,368 in the nine months ended september 30, 2020 and 2019																						59,079,500	88,694,000
changes in fair values of equity investments																						11,032,000	-29,368,000	46,698,000	21,915,000
royalty revenue from a related party, net of amortization of capitalized fees paid to a related party of 3,456 in the three months ended june 30, 2020 and 2019, and 6,912 in the six months ended june 30, 2020 and 2019																								68,946,000
royalty revenue from a related party, net of amortization of capitalized fees paid to a related party of 3,456 in the three months ended march 31, 2020 and 2019																									78,678,000
royalty revenue from a related party, net of amortization of capitalized fees paid to a related party of 3,456 in the three months ended september 30, 2019 and 2018, and 10,368 in the nine months ended september 30, 2019 and 2018																										46,261,250	65,755,000
general and administrative - related party																																2,700,000
royalty revenue from a related party, net of amortization of capitalized fees paid to a related party of 3,456 in the three months ended june 30, 2019 and 2018, and 6,912 in the six months ended june 30, 2019 and 2018																												64,107,000
royalty revenue from a related party, net of amortization of capitalized fees paid to a related party of 3,456 in the three months ended march 31, 2019 and 2018																													55,183,000
royalty revenue from a related party, net of amortization of capitalized fees paid to a related party of 3,456 in the three months ended september 30, 2018 and 2017 and 10,368 in the nine months ended september 30, 2018 and 2017																														61,680,000
revenue from collaborative arrangements from a related party																																	221,000	221,000	221,000	221,000	221,000	221,000	221,000	221,000	222,000
royalty revenue from a related party, net of amortization of capitalized fees paid to a related party of 3,456 in the three months ended june 30, 2018 and 2017 and 6,912 in the six months ended june 30, 2018 and 2017																															67,086,000
royalty revenue from a related party, net of amortization of capitalized fees paid to a related party of 3,456 in the three months ended march 31, 2018 and 2017																																52,380,000
royalty revenue from a related party, net of amortization for capitalized fees paid to a related party of 3,456 for the three months ended september 30, 2017 and 2016 and 10,368 for the nine months ended september 30, 2017 and 2016																																	48,422,000
basic net income per share																																	0.22	0.33	0.16										-0.44	-0.37		-0.37	-0.42
diluted net income per share																																	0.21	0.3	0.15										-0.44	-0.37		-0.37	-0.42
shares used to compute basic and diluted net income per share:
royalty revenue from a related party, net of amortization for capitalized fees paid to a related party of 3,456 for the three months ended june 30, 2017 and 2016 and 6,912 for the six months ended june 30, 2017 and 2016																																		58,341,000
royalty revenue from a related party, net of amortization for capitalized fees paid to a related party of 3,456 for the three months ended march 31, 2017 and 2016																																			40,271,000
other income (expense)																																			47,000
royalty revenue from a related party, net of amortization for capitalized fees paid to a related party of 3,456 and 3,455 for the three months ended september 30, 2016 and 2015 and 10,368 and 10,367 for the nine months ended september 30, 2016 and 2015																																				33,088,000
basic net income per share:																																				0.14
diluted net income per share:																																				0.13
cash dividends declared per common share																																									0.25	0.25
royalty revenue from a related party, net of amortization for capitalized fees paid to a related party of 3,456 and 3,456 for the three months ended june 30, 2016 and 2015 and 6,912 and 6,912 for the six months ended june 30, 2016 and 2015																																					32,251,000
basic and diluted net income (loss) per share																																					0.13	0.04
cash dividend declared per common share																																							0.25	0.25
royalty revenue from a related party, net of amortization for capitalized fees paid to a related party of 3,456 for the three months ended march 31, 2016 and 2015																																						23,955,000
royalty revenue from a related party, net of amortization for capitalized fees paid to a related party of 3,455 and 3,233 for the three months ended september 30, 2015 and 2014 and 10,367 and 7,611 for the nine months ended september 30, 2015 and 2014																																							13,341,000
loss from continuing operations before income taxes
loss from continuing operations, net of tax
loss from discontinued operations
basic and diluted net loss per share:
continuing operations, net of tax																																							-0.04	-0.07		-0.19	-0.18
discontinued operations
basic and diluted net loss per share																																							-0.04	-0.07		-0.19	-0.57	-0.62							-0.37	-0.31	-0.28	-0.29	-0.28	-0.35	-0.35	-0.35	-0.31
shares used to compute basic and diluted net loss per share																																							115,787	115,329	114,658	113,100	110,974
royalty revenue from a related party, net of amortization for capitalized fees paid to a related party of 3,456 and 2,598 for the three months ended june 30, 2015 and 2014 and 6,912 and 4,378 for the six months ended june 30, 2015 and 2014																																								10,434,000
royalty revenue from a related party, net of amortization for capitalized fees paid to a related party of 3,456 and 1,780 for the three months ended march 31, 2015 and 2014																																									6,674,000
loss from continuing operations
continuing operations																																									-0.09
royalty revenue from a related party, net of intangible assets amortization: three months—2014-3,233; 2013-0; nine months—2014-7,611; 2013-0																																										729,000
net revenue from collaborative arrangements from a related party																																										270,000	271,000
income tax																																										278,000
royalty revenue from a related party, net of intangible assets amortization: three months—2014-2,598; 2013-0; six months—2014-4,378; 2013-0																																											663,000
product sales																																												945,000
royalty revenue from a related party, net of intangible assets amortization of 1,780 and 0 for the three months ended march 31, 2014 and 2013
net revenue from collaborative arrangements																																												270,000
costs and expenses:
cost of goods sold																																												188,000
total costs and expenses																																												66,409,000
shares used to compute basic and diluted net loss share																																												109,859
revenue from collaborative arrangements																																													439,000	1,327,000	1,344,000
net income per share																																																																										-0.678	-0.49
shares used to compute basic earnings per share																																													106,925	97,603		95,027	89,169
shares used to compute diluted earnings per share																																													106,925	97,603		95,027	89,169
interest and other income																																																						136,000	134,000	94,000	413,000	1,172,000	647,000	1,209,000	1,295,000	1,672,000	2,438,000	2,692,000	2,929,000	3,415,000	3,875,000	3,474,000	2,885,000	1,816,000	1,716,000	1,619,000	1,818,000	1,802,000	1,243,000
weighted-average number of shares used in per share calculations:
basic																																															96,379			83,590
diluted																																															96,379			92,080
revenue																																																1,430,000	1,430,000	127,099,000	6,431,000	6,389,000	6,331,000	5,302,000	6,264,000	5,714,000	5,515,000	5,493,000	9,544,000	5,999,000	5,505,000	5,645,000	5,669,000	5,305,000	5,398,000	3,664,250	5,524,000	4,837,000	4,296,000
shares used in computing basic and diluted net loss per share																																																			82,490	81,811	80,854			64,921	63,236
restructuring charges																																																										30,000	1,283,000	50,000	5,063,000
shares used in computing net loss per share																																																						73,726	73,282			62,842	62,288
basic and diluted net loss per common share																																																												-340	-440	-490	-530	-750	-820
shares used in computing net loss per common share																																																												61,545,000	61,192,000	61,003,000	60,664,000	60,341,000	60,061,000
interest and other expense
basic and diluted net income per common share																																																																		-630	-630	-700	-860	-790	-710	-600	-590
shares used in computing net income per common share																																																																		311,000	59,762,000	59,440,000	56,871,000	115,000	53,416,000	53,163,000	52,888,000
revenue from related party																																																																						2,169,000	3,006,000	2,913,000	2,757,000	2,740,000	2,637,000
stock-based compensation*																																																																						1,689,000	1,092,000	1,434,000	1,408,000
shares used in computing net income per share																																																																										6,774.25	45,123

Balance Sheets:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-09-30	2018-06-30	2018-03-31	2017-09-30	2017-06-30	2017-03-31	2016-09-30	2016-06-30	2016-03-31	2015-09-30	2015-06-30	2015-03-31	2014-09-30	2014-06-30	2014-03-31	2013-09-30	2013-06-30	2013-03-31	2012-09-30	2012-06-30	2012-03-31	2011-09-30	2011-06-30	2011-03-31	2010-09-30	2010-06-30	2010-03-31	2009-09-30	2009-06-30	2009-03-31	2008-09-30	2008-06-30	2008-03-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30

assets
current assets:
cash and cash equivalents	603,085,000	550,941,000	476,513,000	397,532,000	319,090,000	304,964,000	260,630,000	217,003,000	178,357,000	193,513,000	179,997,000	173,025,000	144,049,000	291,049,000	300,789,000	283,580,000	216,802,000	201,525,000	135,115,000	43,265,000	282,890,000	246,487,000	479,193,000	413,147,000	351,981,000	278,096,000	172,946,000	141,952,000	65,151,000	48,615,000	87,226,000	27,138,000	138,417,000	127,634,000	159,808,000	93,194,000	112,945,000	151,778,000	78,746,000	149,579,000	141,186,000	119,575,000	208,052,000	125,275,000	171,892,000	199,243,000	266,070,000	112,235,000	161,096,000	14,310,000	62,736,000	90,658,000	147,874,000	63,101,000	69,721,000	109,923,000	65,589,000	61,098,000	72,918,000	128,966,000	87,610,000	81,283,000	78,860,000	45,545,000	77,152,000	72,388,000	85,730,000	84,898,000	103,522,000	49,787,000	22,359,000	63,879,000	85,499,000	101,411,000	38,004,000
accounts receivable	34,005,000	34,966,000	30,167,000	20,925,000	16,673,000	20,392,000	30,546,000	26,782,000	14,139,000	14,454,000	10,752,000	15,275,000	15,490,000	9,401,000	6,743,000																													3,000	450,000
receivable from collaboration arrangement	58,623,000
inventory	38,843,000	39,172,000	38,363,000	48,996,000	41,479,000	33,725,000	34,236,000	36,664,000	37,437,000	40,737,000	40,515,000	46,846,000	49,653,000	55,897,000	70,807,000																																	5,148,000	4,299,000
prepaid expenses	24,842,000	26,721,000	19,415,000	16,610,000	15,414,000	21,063,000	12,650,000	8,484,000	16,551,000	21,630,000	14,729,000	20,535,000	24,119,000	29,559,000	7,932,000	3,953,000	5,576,000
current portion of isp fund investments	8,846,000	15,727,000	56,589,000	100,198,000	127,790,000	107,532,000
other current assets	4,379,000	1,637,000	171,000	181,000	313,000	656,000	2,047,000	2,146,000	2,987,000	4,264,000	1,992,000	2,136,000	2,821,000	2,933,000	2,432,000	1,119,000	1,930,000
total current assets	772,623,000	727,515,000	684,570,000	651,778,000	582,022,000	554,306,000	400,621,000	358,277,000	311,342,000	344,219,000	304,999,000	323,538,000	296,446,000	443,511,000	454,591,000	400,328,000	317,823,000	313,673,000	236,928,000	148,261,000	372,933,000	342,058,000	572,041,000	500,193,000	466,907,000	431,234,000	366,795,000	317,685,000	251,519,000	121,129,000	178,660,000	113,245,000	220,509,000	198,064,000	214,418,000	186,121,000	190,421,000	196,706,000	223,754,000	243,957,000	262,392,000	273,471,000	353,163,000	389,196,000	522,341,000	457,233,000	474,512,000	282,535,000	303,380,000	204,327,000	269,165,000	288,625,000	300,272,000	197,487,000	216,223,000	232,149,000	162,870,000	184,473,000	189,900,000	227,727,000	252,491,000	268,380,000	144,436,000	156,926,000	190,685,000	207,167,000	227,385,000	247,507,000	266,916,000	166,818,000	177,011,000	213,248,000	238,506,000	264,468,000	182,291,000
property and equipment	2,142,000	1,555,000	1,529,000	451,000	483,000	514,000	544,000	427,000	324,000	483,000	361,000	161,000	180,000	170,000	165,000	176,000	191,000	12,000	15,000	19,000	24,000	28,000	33,000	37,000	42,000	33,000	24,000	136,000	148,000	173,000	185,000	197,000	249,000	289,000	328,000	381,000	174,000	193,000	248,000	276,000	303,000	64,000		9,734,000	8,563,000	8,952,000	9,010,000	9,579,000	9,660,000	10,059,000	10,206,000	10,334,000	10,548,000	10,253,000	11,049,000	11,881,000	13,910,000	14,712,000	15,233,000	17,328,000	18,481,000	19,480,000	19,847,000	18,698,000	16,183,000	15,101,000	14,281,000	13,413,000	13,419,000	13,180,000	13,062,000	13,631,000	13,395,000	13,242,000	13,831,000
equity method investments	351,376,000	193,726,000	82,577,000	51,826,000	38,744,000	52,293,000	73,549,000	91,780,000	151,888,000	116,546,000	107,040,000	35,061,000	54,971,000
equity and long-term investments	413,078,000	404,497,000	343,794,000	297,284,000	291,100,000	341,664,000	434,169,000	444,655,000	476,549,000	444,432,000	422,491,000	397,940,000	400,894,000	403,013,000	489,111,000	494,097,000	544,437,000	483,845,000	507,116,000	473,677,000	519,325,000
capitalized fees paid	52,682,000	56,138,000	59,593,000	63,049,000	66,505,000	69,961,000	73,416,000	76,872,000	80,328,000	83,784,000	87,239,000	90,695,000	94,151,000	97,607,000
right-of-use assets	10,652,000	10,929,000	1,402,000	1,759,000	2,110,000	2,453,000	2,789,000	3,118,000	2,269,000	2,536,000	2,828,000	2,719,000	2,973,000	3,265,000	3,679,000	3,545,000	3,794,000
goodwill	17,905,000	17,905,000	17,905,000	17,905,000	17,905,000	17,905,000	17,905,000	17,905,000	17,905,000	17,905,000	17,905,000	14,882,000	27,946,000	26,713,000	15,995,000	5,544,000	5,544,000
intangible assets	175,602,000	182,156,000	188,793,000	195,411,000	201,958,000	208,433,000	210,944,000	217,455,000	223,895,000	230,335,000	236,845,000	243,356,000	248,314,000	252,919,000	258,489,000	105,000,000	105,000,000																									211,646,000	194,880,000	137,477,000	40,000,000
other assets	40,527,000	40,744,000	40,961,000	41,178,000	41,269,000	41,477,000	2,800,000	2,982,000	3,112,000	3,267,000	3,444,000	3,562,000	3,893,000	4,299,000	4,620,000	1,157,000	313,000	108,000	136,000	162,000	188,000	214,000	239,000	264,000	288,000	312,000	48,000	37,000	37,000	37,000	37,000	37,000	37,000	37,000	37,000	40,000	58,000	18,000	15,805,000	16,574,000	17,337,000	19,947,000	22,385,000	7,963,000	5,946,000						2,721,000	2,928,000	3,135,000													24,000	100,000	99,000	97,000	100,000	106,000	30,000	31,000	177,000	246,000
total assets	1,836,587,000	1,635,165,000	1,429,106,000	1,333,572,000	1,254,390,000	1,301,060,000	1,231,612,000	1,224,917,000	1,267,612,000	1,243,507,000	1,188,104,000	1,118,241,000	1,129,768,000	1,231,497,000	1,327,712,000	1,137,639,000	1,107,474,000	926,395,000	887,239,000	789,150,000	1,088,290,000	999,570,000	922,256,000	879,619,000	788,011,000	724,826,000	675,953,000	642,307,000	590,114,000	277,693,000	338,692,000	276,745,000	390,972,000	372,023,000	391,872,000	370,542,000	378,109,000	387,829,000	437,631,000	462,086,000	488,699,000	553,713,000	605,610,000	605,034,000	666,016,000	594,704,000	591,519,000	383,943,000	399,422,000	217,727,000	283,325,000	303,120,000	315,108,000	212,580,000	232,449,000	249,930,000	183,472,000	206,085,000	214,792,000	255,262,000	281,390,000	299,515,000	198,623,000	208,008,000	247,659,000	262,424,000	292,350,000	318,897,000	327,334,000	224,835,000	196,988,000	233,801,000	259,196,000	286,022,000	204,974,000
liabilities and stockholders’ equity
current liabilities:
accounts payable	6,518,000	4,966,000	6,243,000	5,382,000	4,700,000	2,132,000	4,170,000	2,039,000	890,000	6,717,000	3,783,000	4,592,000	5,933,000	2,939,000	3,805,000	4,323,000	1,808,000	27,000	89,000	30,000	14,000	66,000	623,000	195,000	122,000	10,000	35,000	1,139,000	144,000	109,000	58,000	66,000	629,000	277,000	2,304,000	528,000	137,000	576,000	154,000	462,000	1,025,000	573,000	1,799,000	5,546,000	5,733,000	4,834,000	3,525,000	4,757,000	4,989,000	5,308,000	3,699,000	2,165,000	2,214,000	1,776,000	1,749,000	1,999,000	1,046,000	1,823,000	1,991,000	2,527,000	3,068,000	4,699,000	5,954,000	7,892,000	8,818,000	16,011,000	8,075,000	10,493,000	11,429,000	8,118,000	7,781,000	8,199,000	9,882,000	5,925,000	3,809,000
accrued personnel-related expenses	4,334,000	9,100,000	6,819,000	4,750,000	3,789,000	7,376,000	5,965,000	4,757,000	3,422,000	7,020,000	5,166,000	5,474,000	4,223,000	8,022,000	6,473,000	3,871,000	1,933,000	619,000	488,000	389,000	652,000	490,000	384,000	291,000	274,000	647,000	509,000	371,000	325,000	1,550,000	695,000	537,000	1,647,000	1,203,000	998,000	1,625,000	1,126,000	913,000	1,392,000	1,003,000	1,063,000	1,203,000	1,023,000	13,829,000	8,362,000	6,001,000	5,128,000	7,714,000			7,123,000	5,154,000		6,398,000	4,692,000	4,133,000	9,482,000	7,958,000	7,552,000	9,116,000	9,898,000	9,783,000	10,597,000	9,263,000	6,154,000	8,316,000	6,562,000	4,423,000	3,950,000	6,041,000	7,828,000	7,092,000	5,149,000	7,615,000	5,793,000
accrued interest payable	231,000	1,618,000	231,000	3,418,000	833,000	3,422,000	833,000	3,422,000	833,000	3,422,000	833,000	3,422,000	833,000	4,359,000	5,702,000	4,498,000	1,397,000	4,152,000	1,668,000	4,152,000	1,668,000	4,152,000	1,668,000	4,152,000	1,668,000	4,152,000	1,773,000	4,262,000	1,775,000	1,775,000	5,115,000	2,545,000	3,566,000	7,103,000	6,400,000	6,606,000	7,823,000	6,562,000	6,390,000	7,925,000	6,195,000	19,467,000	11,013,000
deferred revenue	3,677,000	4,270,000	13,571,000	3,125,000	1,002,000	1,126,000	717,000	855,000	987,000	1,277,000	1,548,000	3,254,000	2,094,000	2,094,000	2,849,000																		1,551,000	1,772,000	1,993,000	885,000	885,000	885,000	885,000	885,000	885,000	1,082,000	1,082,000	5,247,000								127,393,000	132,409,000	142,246,000	147,946,000	153,647,000	144,946,000	150,495,000	146,792,000	158,510,000	164,509,000	161,421,000	171,544,000	153,733,000	159,038,000	134,383,000	136,555,000	132,660,000	110,467,000	111,251,000	54,601,000	57,607,000	57,978,000	56,339,000	59,079,000
income tax payable		274,000			1,542,000		2,623,000				154,000	154,000	154,000	154,000	33,804,000
other accrued liabilities	21,798,000	29,468,000	21,607,000	37,985,000	30,664,000	29,999,000	17,599,000	17,133,000	23,747,000	19,698,000	24,699,000	22,502,000	24,900,000	21,207,000	15,120,000	17,144,000	8,073,000	1,009,000	880,000	800,000	1,470,000	1,402,000	1,223,000	776,000	734,000	562,000	1,012,000	1,386,000	1,258,000	865,000	909,000	918,000	1,157,000	2,460,000	3,183,000	1,729,000	1,392,000	1,687,000	2,457,000	1,789,000	1,686,000	3,773,000	4,834,000	4,792,000	3,093,000	4,703,000	2,678,000	1,835,000	2,077,000	1,974,000				2,650,000	4,335,000	4,003,000	3,986,000	5,470,000	3,754,000	3,072,000	6,483,000	4,104,000	2,795,000	3,431,000	3,519,000	2,314,000	2,000,000	1,653,000	2,208,000	1,997,000	1,966,000	2,213,000	2,094,000	2,338,000	4,573,000
total current liabilities	36,558,000	49,696,000	48,471,000	246,563,000	234,745,000	236,083,000	223,750,000	28,206,000	29,879,000	38,134,000	36,183,000	39,398,000	38,137,000	134,968,000	163,884,000	125,908,000	109,227,000	5,807,000	3,125,000	5,371,000	3,804,000	6,110,000	3,898,000	5,414,000	2,798,000	5,371,000	3,329,000	7,475,000	3,810,000	4,299,000	6,777,000	4,066,000	32,884,000	27,109,000	20,473,000	14,924,000	14,629,000	10,623,000	11,278,000	12,214,000	10,980,000	36,098,000	49,994,000	44,144,000	38,661,000	38,646,000	29,464,000	27,090,000	25,776,000	25,575,000	39,814,000	35,191,000	33,419,000	36,381,000	36,004,000	35,576,000	39,341,000	40,369,000	37,416,000	43,705,000	50,172,000	49,720,000	57,136,000	59,802,000	62,886,000	59,609,000	54,801,000	54,047,000	53,112,000	48,173,000	40,427,000	38,330,000	36,013,000	35,037,000	33,311,000
long-term debt	258,095,000	257,731,000	257,377,000	257,019,000	256,670,000	256,316,000	255,972,000	447,282,000	446,759,000	446,234,000	445,718,000	445,201,000	444,692,000	444,180,000	443,679,000	443,178,000	442,731,000	394,653,000	392,295,000	389,989,000	387,728,000	385,517,000	383,350,000	381,230,000	379,152,000	377,120,000	388,644,000	386,675,000	384,744,000	381,002,000	486,527,000	484,591,000	578,449,000
other long-term liabilities	69,103,000	66,091,000	57,431,000	60,021,000	62,009,000	64,275,000	71,449,000	72,065,000	71,686,000	71,870,000	68,690,000	68,584,000	70,133,000	70,918,000	78,421,000				14,000	45,000	77,000	106,000	136,000	163,000	192,000	219,000	217,000	298,000	379,000	668,000	752,000	835,000	1,049,000	1,159,000	1,267,000	1,598,000	1,639,000	1,784,000	1,847,000	1,748,000	1,947,000	1,530,000	1,300,000													314,000	466,000	543,000	620,000	3,670,000	3,655,000
deferred tax liabilities	72,831,000	31,793,000							3,807,000	563,000			5,392,000	5,771,000	360,000
income tax payable, long-term	58,345,000	57,013,000	55,876,000	55,148,000	54,061,000	53,227,000	11,899,000	11,849,000	11,800,000	11,751,000	10,020,000	9,971,000	9,921,000	9,872,000
commitments and contingencies
stockholders’ equity:
preferred stock: 0.01 par value...
common stock: 0.01 par value...	738,000	747,000	748,000	630,000	628,000	627,000	626,000	626,000	628,000	633,000	644,000	653,000	659,000	692,000	698,000	697,000	696,000	696,000	695,000	695,000	1,014,000	1,014,000	1,014,000	1,015,000	1,013,000	1,013,000	1,013,000	1,013,000	1,012,000	1,011,000	1,015,000	1,014,000	1,080,000	1,094,000	1,093,000	1,098,000	1,116,000	1,132,000	1,176,000	1,172,000	1,169,000
additional paid-in capital	884,954,000	902,726,000	903,988,000	698,884,000	694,658,000	692,329,000	690,045,000	688,231,000	1,085,539,000	1,093,340,000	1,107,398,000	1,117,029,000	1,124,709,000	1,163,836,000	1,171,096,000	1,183,667,000	1,182,912,000	1,264,024,000	1,262,438,000	1,261,845,000	1,261,326,000	1,260,900,000	1,260,447,000	1,260,017,000	1,259,464,000	1,258,859,000	1,258,370,000	1,257,799,000	1,257,125,000	1,258,350,000	1,259,443,000	1,257,880,000	1,336,358,000	1,286,340,000	1,284,031,000	1,292,655,000	1,312,434,000	1,328,155,000	1,375,805,000	1,400,253,000	1,426,297,000	1,466,911,000	1,444,105,000	1,834,862,000	1,784,016,000	1,492,945,000	1,462,288,000	1,475,371,000	1,456,882,000	1,236,641,000	1,218,934,000	1,210,006,000	1,194,620,000	1,039,357,000	1,033,427,000	1,025,548,000	918,634,000	912,070,000	905,453,000	889,844,000	882,369,000	876,007,000	863,177,000	855,951,000	846,924,000	840,498,000	833,452,000	827,704,000	818,160,000	676,299,000	674,109,000	673,969,000	671,144,000	669,698,000	562,355,000
retained earnings	455,963,000	269,368,000	105,215,000	15,307,000					11,343,000
total stockholders’ equity	1,341,655,000	1,172,841,000	1,009,951,000	714,821,000	646,905,000	691,159,000	668,542,000	665,515,000	703,681,000	674,955,000	627,493,000	555,087,000	561,493,000	565,788,000	641,368,000	565,462,000	552,217,000	525,935,000	491,805,000	393,745,000	696,681,000	607,837,000	534,872,000	492,812,000	405,869,000	342,116,000	283,763,000	246,702,000	199,943,000															263,252,000	330,049,000	85,647,000	91,511,000	173,288,000	189,256,000	6,131,000															20,344,000	63,310,000	94,034,000	125,607,000	157,520,000	59,584,000	98,177,000	133,958,000	161,078,000	190,367,000	108,098,000
total liabilities and stockholders’ equity	1,836,587,000	1,635,165,000	1,429,106,000	1,333,572,000	1,254,390,000	1,301,060,000	1,231,612,000	1,224,917,000	1,267,612,000	1,243,507,000	1,188,104,000	1,118,241,000	1,129,768,000	1,231,497,000	1,327,712,000	1,137,639,000	1,107,474,000	926,395,000	887,239,000	789,150,000	1,088,290,000	999,570,000	922,256,000	879,619,000	788,011,000	724,826,000	675,953,000	642,307,000	590,114,000														605,610,000	605,034,000	666,016,000	594,704,000	591,519,000	383,943,000	399,422,000	217,727,000										255,262,000	281,390,000	299,515,000	198,623,000	208,008,000	247,659,000	262,424,000	292,350,000	318,897,000	327,334,000	224,835,000	196,988,000	233,801,000	259,196,000
receivable from collaboration arrangements		58,351,000				65,974,000																																									2,217,000
deferred tax assets			7,982,000	12,931,000	12,294,000	12,054,000	14,875,000	11,446,000			4,952,000	6,327,000				23,274,000	22,398,000	17,327,000	28,159,000	48,690,000	74,023,000	93,759,000	109,490,000	118,348,000	138,239,000	154,171,000	166,555,000	177,114,000	187,546,000
convertible notes, due 2025, net of issuance costs						192,028,000
receivables from collaboration arrangement			63,352,000	67,336,000	61,263,000		60,512,000	67,198,000	61,871,000		57,014,000	65,721,000	60,314,000		65,606,000
convertible subordinated notes due 2025, net of issuance costs				191,903,000	192,215,000		191,843,000
accumulated deficit					-48,381,000	-1,797,000	-22,129,000	-23,342,000		-25,189,000	-86,720,000	-168,766,000	-170,046,000	-204,911,000	-136,597,000	-402,198,000	-403,137,000	-456,148,000	-466,493,000	-538,931,000	-627,879,000	-722,002,000	-775,905,000	-804,123,000	-880,967,000	-946,404,000	-992,353,000	-1,032,162,000
treasury stock									-393,829,000	-393,829,000	-393,829,000	-393,829,000	-393,829,000	-393,829,000	-393,829,000	-393,829,000	-393,829,000	-393,829,000	-393,829,000	-393,829,000
receivables from collaboration arrangements										69,621,000				54,672,000
convertible subordinated notes due 2023, net of issuance costs														96,193,000	96,131,000	96,072,000	96,016,000
total innoviva stockholders’ equity														565,788,000	641,368,000	388,337,000	386,642,000	414,743,000	402,811,000	329,780,000	634,461,000	539,912,000	485,556,000	456,907,000	379,543,000	313,495,000	267,055,000	226,683,000	188,245,000
noncontrolling interests
short-term marketable securities															282,000									3,999,000	31,970,000	72,749,000	124,255,000	107,711,000	127,027,000	6,865,000	20,316,000	29,322,000	29,775,000	7,992,000	10,003,000	55,772,000	40,921,000	16,414,000	127,446,000	79,684,000	109,954,000	143,536,000
capitalized fees paid to a related party															101,062,000	104,518,000	107,974,000	111,430,000	114,885,000	118,341,000	121,797,000	125,253,000	128,708,000	132,164,000	135,620,000	139,076,000	142,531,000	145,987,000	149,443,000	156,354,000	159,810,000	163,266,000	170,177,000	173,633,000	177,089,000	184,000,000	187,456,000	190,912,000	197,824,000	201,279,000
noncontrolling interest																177,125,000	165,575,000	111,192,000	88,994,000	63,965,000	62,220,000	67,925,000	49,316,000	35,905,000	26,326,000	28,621,000	16,708,000	20,019,000	11,698,000	3,081,000	1,992,000	811,000
related party receivables from collaborative arrangements																111,676,000	93,515,000	110,711,000	101,271,000	104,262,000	88,974,000	93,931,000	92,150,000	82,402,000	82,134,000	79,427,000	69,211,000	67,563,000	58,639,000	65,136,000	70,542,000	55,835,000	51,878,000	61,796,000	43,727,000	36,621,000	35,817,000	27,539,000	16,947,000	13,997,000	10,239,000
lease liabilities, long-term																3,091,000	3,299,000
prepaid expenses and other current assets																		1,437,000	542,000	734,000	1,069,000	1,640,000	698,000	645,000	822,000	962,000	383,000	459,000	702,000	513,000	576,000	950,000	439,000	642,000	880,000	534,000	738,000	975,000	615,000	697,000	1,013,000	748,000	982,000	6,391,000	4,071,000	3,609,000	5,190,000				3,848,000	4,506,000	5,751,000
liabilities and stockholders' equity
equity and other long-term investments																						438,258,000
accumulated other comprehensive income																								-2,000	33,000	27,000	25,000	33,000	10,000							8,000	6,000		11,000				3,706,000	171,000	202,000		92,000	116,000			16,000		28,000	77,000			61,000	198,000	327,000			362,000	81,000	34,000	81,000	26,000
equity investments																							111,745,000	128,613,000	46,915,000
operating lease right-of-use asset																												1,348,000	1,421,000
operating lease liability, current portion																												317,000	308,000
operating lease liability, net of current portion																												1,157,000	1,238,000
liabilities and stockholders’ deficit
current portion of long-term debt																																	25,000,000
stockholders’ deficit:
accumulated other comprehensive loss
total innoviva stockholders’ deficit
total stockholders’ deficit
total liabilities and stockholders’ deficit																														277,693,000	338,692,000	276,745,000	390,972,000	372,023,000	391,872,000	370,542,000	378,109,000	387,829,000	437,631,000	462,086,000	488,699,000
deferred revenue, current																																	885,000	885,000	885,000									8,814,000	9,601,000	8,974,000	9,881,000	4,945,000	5,771,000	5,771,000	20,887,000	20,553,000	21,238,000
non-recourse notes, due 2029, current																																		15,181,000	6,703,000	3,551,000	3,266,000
convertible subordinated notes, due 2023, net of issuance costs																																		237,858,000	237,724,000	241,535,000	241,408,000
non-recourse notes, due 2029, net of issuance costs																																		400,854,000	464,601,000	477,914,000	480,879,000
convertible subordinated notes, due 2023																																						251,124,000	255,109,000	255,109,000	255,109,000
non-recourse notes, due 2029																																						483,389,000	488,976,000	483,363,000	476,954,000
marketable securities																																									3,932,000	47,752,000	34,349,000	59,831,000	88,333,000	90,314,000	99,342,000			185,854,000	202,433,000	193,229,000	145,945,000	129,367,000	140,972,000	115,525,000	88,640,000	114,585,000	105,958,000	89,871,000	144,737,000	176,384,000	58,678,000	105,107,000	107,482,000	128,692,000	137,525,000	157,543,000	155,073,000	112,138,000	149,964,000	138,499,000	146,333,000	155,730,000	136,334,000
payable to theravance biopharma, inc.																																								150,000	126,000		15,243,000
deferred rent																																							100,000	102,000	89,000	54,000	13,000	4,891,000	4,658,000	4,698,000	4,872,000	5,275,000	5,477,000	5,678,000				2,488,000	1,782,000	709,000	1,121,000	1,280,000	1,440,000	1,680,000	1,801,000	1,921,000	2,085,000	2,149,000	2,225,000	2,298,000	2,572,000	2,573,000	2,573,000	2,538,000	2,669,000	2,569,000	2,534,000	2,500,000	2,336,000
captialized fees paid to a related party																																									204,735,000
restricted cash																																										5,600,000	14,232,000	833,000	833,000	833,000	833,000	833,000	833,000	893,000	893,000	893,000	893,000	893,000	893,000	1,310,000	1,310,000	1,310,000	3,810,000	3,810,000	3,810,000	3,810,000
receivables from collaborative arrangements																																										4,012,000	3,473,000	865,000	2,489,000	2,233,000
inventories																																												11,014,000	9,038,000	8,240,000	8,049,000
liabilities and stockholders’ (deficit) equity
payable to a related party																																										10,000,000	15,000,000
accrued clinical and development expenses																																												9,890,000	10,599,000	9,222,000	6,054,000	6,761,000	4,898,000	6,547,000	5,075,000	2,850,000	2,759,000	2,553,000	2,231,000	2,449,000	2,585,000	2,917,000	2,775,000	4,881,000	6,618,000	8,440,000	14,952,000	17,901,000	23,083,000	13,608,000	15,593,000	15,353,000	17,043,000	13,779,000	9,769,000	7,648,000	5,716,000	5,579,000	4,907,000
convertible subordinated notes																																										255,109,000	287,500,000	287,500,000	287,500,000	459,960,000	460,000,000	172,500,000	172,500,000	172,500,000	172,500,000	172,500,000	172,500,000	172,500,000	172,500,000	172,500,000	172,500,000	172,500,000	172,500,000	172,500,000	172,500,000	172,500,000
non-recourse notes payable, due 2029																																										450,000,000	450,000,000
stockholders’ (deficit) equity:
common stock, 0.01 par value...																																										1,154,000	1,133,000	1,125,000	1,105,000	1,008,000	993,000	979,000	969,000	865,000	851,000	754,000	722,000	645,000	642,000	637,000	542,000	538,000	533,000	523,000	520,000	516,000	514,000	512,000	508,000	507,000	505,000	503,000	500,000	444,000	442,000	440,000	437,000	435,000	364,000
total stockholders’ (deficit) equity
total liabilities and stockholders’ (deficit) equity																																										553,713,000
short-term investments																																											126,424,000	245,648,000	334,261,000	243,768,000	192,986,000	161,209,000	134,393,000
stockholders’ equity
accrued interest on convertible subordinated notes																																												1,273,000	1,273,000	4,912,000	2,198,000	1,078,000	2,372,000	1,078,000	1,078,000	2,372,000	1,078,000
notes receivable																																													140,000						85,000	200,000	370,000	532,000	434,000	448,000	224,000	227,000	179,000	311,000	503,000	583,000	437,000	365,000	17,000	1,118,000	2,924,000	2,973,000	2,883,000	2,496,000	2,592,000	2,609,000	2,542,000	2,989,000	2,994,000
deferred revenue, non-current																																													5,148,000	5,753,000	5,672,000	5,790,000	6,413,000	7,843,000	124,435,000
notes receivable, current																																														140,000			100,000	200,000
intangible asset																																														30,000,000
other assets, non-current																																														7,372,000	7,682,000	1,894,000	2,101,000	2,308,000
notes receivable, non-current																																															140,000	140,000	240,000	140,000
receivable from related party																																																71,000	94,000	63,000				184,000	33,000	16,000	144,000	248,000	269,000	231,000	10,030,000	167,000	98,000	228,000	229,000	608,000	272,000	417,000	4,032,000	990,000	953,000	6,287,000	1,548,000	2,124,000	1,527,000
note receivable, current																																																100,000
prepaid and other current assets																																																3,772,000	3,398,000	3,900,000				4,303,000	5,063,000	6,237,000	8,273,000	8,315,000	10,576,000	8,348,000	9,611,000	9,963,000	6,363,000	5,681,000	5,805,000	4,361,000	3,858,000	4,471,000	4,051,000	3,903,000	3,735,000	4,583,000	5,126,000	5,203,000	6,426,000
long-term marketable securities																																																88,962,000	83,208,000
note payable and capital lease
accrued personnel related expenses																																																	5,669,000	4,884,000
note payable and capital lease, current																																																		13,000	109,000	162,000	200,000
accounts receivable from related party																																																			63,000	32,000	332,000
liabilities and stockholders’ net capital deficiency
other current liabilities																																																			1,843,000	1,935,000	1,724,000
deferred rent, non-current																																																			5,728,000	5,518,000	4,586,000
note payable and capital lease, non-current
stockholders’ net capital deficiency:
class a common stock, 0.01 par value...																																																				94,000	94,000	94,000	94,000	94,000	94,000	94,000	94,000	94,000	94,000	94,000	94,000	94,000	94,000	94,000	94,000	94,000	94,000	94,000	94,000	94,000	94,000	94,000	90,000
total stockholders’ net capital deficiency
total liabilities and stockholders’ net capital deficiency																																																			283,325,000	303,120,000	315,108,000	212,580,000	232,449,000	249,930,000	183,472,000	206,085,000	214,792,000
revenue																																																			6,431,000	6,389,000	6,331,000	5,302,000	6,264,000	5,714,000	5,515,000	5,493,000	9,544,000
operating expenses:
research and development																																																			27,837,000	22,798,000	20,464,000	18,537,000	18,705,000	20,351,000	19,541,000	20,020,000	19,557,000
general and administrative																																																			7,796,000	7,248,000	7,169,000	6,610,000	6,991,000	6,476,000	7,061,000	6,796,000	7,052,000
total operating expenses																																																			35,633,000	30,046,000	27,633,000	25,147,000	25,696,000	26,827,000	26,596,000	26,846,000	27,892,000
income from operations
interest income																																																			81,000	118,000	145,000
interest expense
net income																																																			-30,626,000	-25,045,000	-22,667,000	-21,222,000	-20,806,000	-22,536,000	-22,183,000	-21,692,000	-19,217,000
basic and diluted net income per share																																																			-370	-310	-280	-290	-280	-350	-350	-350	-310
shares used in computing basic and diluted net income per share																																																			82,490,000	81,811,000	80,854,000			64,921,000	63,236,000
accrued personnel -related expenses																																																					4,206,000
notes payable and capital lease, non-current																																																					13,000
other long-term assets																																																						3,547,000	3,754,000	3,960,000	4,374,000	4,580,000	4,787,000	5,201,000	5,407,000
current portion of note payable and capital lease																																																						202,000	195,000	191,000	181,000	175,000
current portion of deferred revenue																																																						22,802,000	22,802,000	22,801,000	22,061,000	22,026,000	21,223,000	23,996,000	23,996,000	22,589,000	22,740,000	21,221,000	21,221,000	19,273,000	22,032,000	21,452,000	17,480,000	16,994,000	12,021,000	12,021,000	11,563,000	10,959,000	10,959,000
notes payable and capital lease																																																						109,000	175,000	213,000	311,000	359,000
restructuring charges																																																										30,000	1,283,000
interest and other income																																																						136,000	134,000	94,000	413,000	1,172,000	647,000
shares used in computing net income per share																																																						73,726,000	73,282,000			62,842,000	62,288,000
preferred stock, 0.01 par value...
current portion of note payable																																																											121,000	113,000	109,000	105,000
notes payable																																																											286,000	349,000	379,000	408,000	462,000	488,000	513,000	538,000	570,000	589,000	607,000	631,000	656,000	669,000	688,000	706,000	723,000
other long term assets																																																														5,614,000
other long term liabilities																																																														4,139,000	8,281,000	7,632,000	2,653,000	2,286,000	3,818,000	3,421,000	3,055,000	2,658,000
restricted cash and cash equivalents																																																															3,810,000	3,830,000	3,830,000	3,860,000	3,860,000	3,860,000	3,860,000	3,860,000	3,860,000	3,860,000	4,194,000	4,537,000	4,923,000
current portion of notes payable																																																															98,000	94,000	91,000	87,000	75,000	75,000	75,000	75,000	67,000	70,000	167,000	262,000	354,000
notes receivable from stockholders
deferred sublease costs																																																																						297,000	357,000	416,000	476,000	545,000	614,000
current portion of capital lease obligations																																																																			464,000	598,000	927,000	1,169,000	995,000	1,087,000	1,442,000	2,359,000	2,916,000
deferred stock-based compensation
deferred sublease cost																																																																				178,000	238,000
notes receivable from related parties																																																																								7,000	52,000	64,000	75,000
capital lease obligations																																																																							458,000	668,000	905,000	1,073,000	1,427,000
liabilities, convertible preferred stock and stockholders’ equity
convertible preferred stock, 0.01 par value...
total liabilities, convertible preferred stock, and stockholders’ equity																																																																										286,022,000	204,974,000
commitments

Cashflow Statements:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-09-30	2018-06-30	2018-03-31	2017-09-30	2017-06-30	2017-03-31	2016-09-30	2016-06-30	2016-03-31	2015-09-30	2015-06-30	2015-03-31	2014-09-30	2014-06-30	2014-03-31	2013-09-30	2013-06-30	2013-03-31	2012-09-30	2012-06-30	2012-03-31	2011-09-30	2011-06-30	2011-03-31	2010-09-30	2010-06-30	2010-03-31	2009-09-30	2009-06-30	2009-03-31	2008-09-30	2008-06-30	2008-03-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31

cash flows from operating activities
net income	186,595,000	164,153,000	89,908,000	63,688,000	-46,584,000	20,332,000	1,213,000	-34,685,000	36,532,000	61,531,000	82,046,000	1,280,000	34,865,000	-68,314,000	229,347,000	21,371,000	37,858,000	45,650,000	102,646,000	110,846,000	109,695,000	75,016,000	41,621,000	98,225,000	78,952,000	57,862,000	47,051,000	46,061,000	40,019,000	50,167,000	56,616,000	30,330,000	23,767,000	35,146,000	16,845,000	15,033,000	14,597,000	4,435,000							-46,983,000	-36,429,000	-37,360,000	-34,692,000	-37,120,000	84,594,000												-29,764,000				-37,837,000	-37,780,000	-41,475,000	-48,952,000	-42,211,000	-37,786,000	-31,716,000	-31,451,000	-29,171,000
adjustments to reconcile net income to net cash from operating activities:
deferred income taxes	41,038,000	39,775,000	4,949,000	-637,000	-240,000	2,821,000	-3,429,000	-15,253,000	3,244,000	5,515,000	-1,648,000	1,345,000	-812,000					10,832,000	20,531,000	25,333,000	19,736,000	15,731,000	8,866,000	19,891,000	15,932,000	12,376,000	10,559,000	10,432,000	8,508,000
amortization of capitalized fees and depreciation of property and equipment	3,487,000	3,487,000	3,488,000	3,488,000	3,488,000	3,485,000	3,480,000	3,476,000	3,510,000	3,484,000	3,483,000	3,475,000	3,479,000
amortization of acquired intangible assets	6,554,000	6,637,000	6,618,000	6,547,000	6,475,000	6,511,000	6,511,000	6,440,000	6,440,000	6,510,000	6,511,000	4,958,000	3,805,000
inventory fair value step-up adjustment included in cost of products sold	1,149,000	732,000	3,484,000	381,000	244,000	1,719,000	1,795,000	3,463,000	6,843,000	7,985,000	5,429,000	6,908,000	6,842,000
stock-based compensation	2,567,000	2,503,000	2,380,000	2,422,000	2,147,000	1,673,000	1,603,000	1,643,000	1,455,000	1,277,000	1,442,000	1,520,000	1,598,000	1,326,000	3,717,000	1,350,000	954,000	554,000	542,000	470,000	451,000	447,000	441,000	375,000	435,000	488,000	489,000	474,000	605,000	-874,000	1,452,000	2,169,000	2,472,000	2,427,000	2,507,000	1,718,000	2,841,000	1,864,000	1,468,000	1,822,000	1,933,000	4,732,000	7,746,000	13,535,000	6,447,000	7,162,000	6,095,000	5,830,000	5,979,000	6,235,000	7,572,000	5,593,000	5,541,000	4,496,000	5,323,000	4,497,000	4,996,000	5,274,000	5,113,000	4,756,000	3,732,000	4,914,000	5,874,000	5,505,000	5,788,000	5,347,000	4,716,000			1,689,000	1,092,000	1,434,000	1,408,000	2,361,000
amortization of debt discount and issuance costs	364,000	354,000	455,000	537,000	541,000	529,000	533,000	523,000	525,000	516,000	517,000	509,000	523,000	564,000	560,000	554,000	377,000	2,358,000	2,306,000	2,261,000	2,211,000	2,167,000	2,120,000	2,078,000	2,032,000	2,010,000	1,969,000	1,931,000	1,889,000	1,867,000	1,936,000	2,092,000
changes in fair values of equity method investments	-157,650,000	-111,149,000	-30,751,000	-13,082,000	13,549,000	21,256,000	18,231,000	60,108,000	-35,342,000	-9,506,000	-71,980,000	19,911,000	-15,817,000
changes in fair values of equity and long-term investments	-33,575,000	-42,669,000	-31,510,000	-11,280,000	65,299,000	-1,666,000	16,936,000	30,556,000	13,335,000						-1,563,000	58,600,000	9,411,000	43,176,000	-33,439,000	-44,373,000	-54,673,000
other non-cash items	1,026,000	1,495,000	-21,000	-376,000	799,000	-398,000	-171,000	1,360,000	-1,513,000	253,000	-1,831,000	3,123,000	-2,062,000					-8,000	-267,000	8,000	8,000	7,000	8,000
changes in operating assets and liabilities:
accounts receivable	961,000	-4,799,000	-9,242,000	-4,252,000	3,719,000	10,154,000	-3,764,000	-12,643,000	315,000	-3,702,000	4,523,000	215,000	-6,089,000	-2,658,000
receivable from collaboration arrangement	-271,000
inventory	-1,310,000	-2,620,000	6,847,000	-7,993,000	-9,153,000	-1,208,000	633,000	-2,690,000	-3,543,000	-8,207,000	902,000	-4,101,000	-598,000	-70,000
prepaid expenses	1,879,000	-7,306,000	-2,805,000	-1,196,000	5,649,000	-8,413,000	-4,166,000	8,067,000	5,079,000	-6,901,000	5,806,000	3,584,000	5,440,000	-21,627,000	-2,691,000	1,623,000	1,345,000
other assets	-8,365,000	-2,079,000	227,000	223,000	551,000	-38,780,000	-1,010,000	971,000	633,000	-4,760,000	261,000	1,016,000	518,000													38,000
accounts payable	1,552,000	-1,277,000	861,000	682,000	2,568,000	-2,038,000	2,131,000	1,149,000	-5,827,000	2,934,000	-809,000	-1,341,000	2,994,000	-866,000	-1,755,000	2,515,000	198,000	-62,000	59,000	16,000	-52,000	-557,000	428,000	73,000	112,000	-25,000	-1,104,000	995,000	133,000				352,000	-2,027,000	2,176,000				-308,000	-563,000	1,025,000				1,014,000					48,000	633,000	615,000	198,000
accrued personnel-related expenses and other accrued liabilities	-9,797,000	8,778,000	-16,500,000	6,741,000	-4,809,000	7,021,000	1,973,000	-6,391,000	441,000	-426,000	2,188,000	-2,695,000	-565,000	13,622,000	-8,648,000	4,823,000	2,116,000	276,000	176,000	-936,000	227,000	552,000	267,000	111,000	-126,000	-546,000	-236,000	177,000	166,000					-510,000	752,000
accrued interest payable	-1,387,000	1,387,000	-3,187,000	2,585,000	-2,589,000				-2,589,000	2,589,000	-2,589,000	2,589,000	-3,526,000	2,133,000	-2,272,000	3,101,000	-2,755,000				-2,484,000				-2,484,000	2,379,000	-2,489,000															8,454,000
income tax payable	1,058,000	1,411,000	728,000	-455,000	2,376,000	38,705,000	2,228,000	494,000	49,000	1,577,000	49,000	50,000	49,000	-23,778,000
deferred revenue	-593,000	-9,301,000	10,446,000	2,123,000	-124,000	409,000	-138,000	-132,000	-290,000	-271,000	-1,706,000																																		-428,000	-826,000	4,946,000																19,330,000	-5,305,000	26,603,000	-4,931,000	4,475,000						2,243,000	-2,740,000
net cash from operating activities	35,282,000	54,513,000	49,727,000	44,073,000	48,617,000	59,239,000	48,686,000	43,718,000	37,047,000	33,256,000	43,942,000	38,182,000	25,684,000	8,899,000	15,690,000	79,035,000	98,102,000	98,381,000	96,711,000	84,614,000	84,107,000	85,280,000	74,558,000	79,794,000	73,481,000	66,905,000	57,402,000	56,496,000	76,655,000		51,725,000	49,914,000	43,490,000			20,188,000	12,460,000	7,250,000	2,656,000
capital expenditures	-492,000	-10,000	0	0	0	0	0	0		-151,000	-227,000	0	-33,000	-34,000	-11,000	-13,000	-9,000	0	0	0		0	0	0	-13,000	0	0	0	0		0	0	0			0	0		0
free cash flows	34,790,000	54,503,000	49,727,000	44,073,000	48,617,000	59,239,000	48,686,000	43,718,000		33,105,000	43,715,000	38,182,000	25,651,000	8,865,000	15,679,000	79,022,000	98,093,000	98,381,000	96,711,000	84,614,000		85,280,000	74,558,000	79,794,000	73,468,000	66,905,000	57,402,000	56,496,000	76,655,000		51,725,000	49,914,000	43,490,000			20,188,000	12,460,000		2,656,000
cash flows from investing activities
purchases of trading securities	-10,000,000	-11,225,000	-15,000,000	0	-34,674,000	-11,481,000	-5,000,000	0	-43,136,000	-5,000,000
purchases of equity investments managed by isp fund lp	-2,457,000					0	-1,378,000	-22,136,000	-8,756,000	-6,250,000	-7,130,000	-13,893,000	-3,891,000	32,041,000	-54,925,000	-36,011,000	-2,015,000
sales of equity investments managed by isp fund lp	43,292,000	8,225,000	0	0	19,939,000	22,925,000	46,855,000	634,000	5,342,000	32,858,000	37,160,000	1,193,000	1,289,000	0	0	0	24,281,000
purchases and sales of other investments managed by isp fund lp	6,665,000	40,804,000	43,901,000	28,025,000	-19,939,000	-22,925,000	-45,477,000	21,502,000	3,414,000		-30,030,000	12,700,000	2,602,000
purchases of property and equipment	-492,000	-10,000				0				-151,000	-227,000	0	-33,000	-34,000	-11,000	-13,000	-9,000					0	0	0	-13,000
net cash from investing activities	37,008,000	23,636,000	18,412,000	33,122,000	-34,674,000	-15,478,000	-5,270,000	0	-43,038,000	-5,151,000	-25,888,000	0	-35,722,000	-8,678,000	97,722,000	-2,522,000	-143,156,000	-19,905,000	0	90,021,000	-26,394,000	-315,481,000	-8,500,000	-7,000,000	16,044,000	51,994,000	-15,937,000				9,078,000	26,513,000	-21,774,000					11,693,000			73,710,000		-11,234,000	14,130,000						8,384,000									2,532,000				41,745,000	7,398,000	20,358,000						-12,606,000	7,540,000	9,270,000
cash flows from financing activities
repurchase of common stock	-20,247,000					0	0	-5,208,000	-9,569,000	-14,636,000	-11,071,000	-9,286,000	-40,735,000					0	0
repurchase of shares to satisfy tax withholding	-158,000	-27,000	-25,000	-24,000	-67,000	-19,000	-18,000	-21,000	-84,000	-12,000	-11,000	-31,000	-23,000	-11,000	-12,000	-13,000	-46,000	-13,000	-12,000	-10,000	-25,000	-9,000	-11,000	-17,000	-55,000	-8,000	-7,000
proceeds from issuances of common stock	259,000	838,000	194,000	1,271,000	250,000	592,000	229,000	157,000	488,000	59,000	0			28,000	1,000	81,000	260,000	1,046,000	63,000			15,000	-1,000	197,000	225,000	9,000	89,000	210,000	319,000	0	340,000	114,000	3,000	177,000	8,000	6,000	162,000	173,000	3,485,000	1,425,000	1,086,000	11,843,000	5,514,000	18,272,000	113,570,000	23,442,000	2,991,000	12,416,000	214,268,000	2,532,000	1,360,000	9,824,000	11,733,000	1,436,000	2,563,000	94,057,000	1,571,000	1,349,000	4,964,000
net cash from financing activities	-20,146,000	-3,721,000	10,842,000	1,247,000	183,000	573,000	211,000	-5,072,000	-9,165,000	-14,589,000	-11,082,000	-9,206,000	-136,962,000	-10,001,000	-96,163,000	-9,735,000	60,331,000	-12,066,000	-4,861,000	-414,260,000	-21,310,000	-2,505,000	-12,000	-11,628,000	-15,640,000	-13,749,000	-10,471,000	198,000	246,000													-7,861,000	148,416,000	18,272,000	113,569,000	23,392,000	247,864,000	12,416,000	214,255,000	2,476,000	1,307,000	9,773,000	11,671,000	1,377,000	2,529,000	94,002,000	1,530,000	1,321,000	4,935,000	2,698,000	2,607,000	166,923,000				1,175,000	839,000	2,403,000	141,557,000	1,361,000	737,000			108,440,000
net increase in cash and cash equivalents	52,144,000	74,428,000	78,981,000	78,442,000	14,126,000	44,334,000	43,627,000			13,516,000	6,972,000	28,976,000	-147,000,000			66,778,000	15,277,000	66,410,000	91,850,000	-239,625,000	36,403,000	-232,706,000	66,046,000	61,166,000	73,885,000	105,150,000	30,994,000								41,792,000					8,393,000	44,386,000				-27,351,000	-66,827,000	171,221,000	-48,861,000						-6,620,000	-40,202,000	62,379,000				41,356,000					4,764,000	-13,342,000	832,000	-18,624,000	53,735,000					63,407,000
cash and cash equivalents at beginning of period	550,941,000	0	0	0	304,964,000	0	0	0	193,513,000	0	0	0	291,049,000	0	0	0	201,525,000	0	0	0	246,487,000	0	0	0	278,096,000	0	0	0	62,417,000	0	0	73,336,000	0	0	118,016,000	0	0	159,180,000	0	0	96,800,000	0	0	143,510,000	0	0	94,849,000	0	0	44,778,000	0	0	163,333,000	0	0	47,544,000	0	0	92,280,000	0	0	86,433,000	0	0	72,388,000	0	0	0	49,787,000	0	0	0	101,411,000	0
cash and cash equivalents at end of period	603,085,000	74,428,000	78,981,000	78,442,000	319,090,000	44,334,000	43,627,000	38,646,000	178,357,000	13,516,000	6,972,000	28,976,000	144,049,000			66,778,000	216,802,000	66,410,000	91,850,000	-239,625,000	282,890,000	-232,706,000	66,046,000	61,166,000	351,981,000	105,150,000	30,994,000	76,801,000	65,151,000	-38,611,000	60,088,000	27,138,000	10,783,000	-32,174,000	159,808,000	-19,751,000	-38,833,000	151,778,000	-70,833,000	8,393,000	141,186,000	-88,477,000	82,777,000	125,275,000	-27,351,000	-66,827,000	266,070,000	-48,861,000	146,786,000	14,310,000	-27,922,000	-57,216,000	147,874,000	-6,620,000	-40,202,000	109,923,000	4,491,000	-11,820,000	72,918,000	41,356,000	6,327,000	81,283,000	33,315,000	-31,607,000	77,152,000	-13,342,000	832,000	-18,624,000	103,522,000	27,428,000	-41,520,000	-21,620,000	85,499,000	63,407,000
acquired in-process research and development assets		0
receivables from collaboration arrangements
acquisition of intangible asset
proceeds from trading securities		3,330,000	0
purchases of equity and long-term investments										0	34,471,000	0	-35,689,000	0	1,000	-2,509,000	-56,217,000	-19,905,000	0	-19,979,000	-26,394,000
cash paid for acquired in-process research and development assets
sale of property and equipment						3,000	0	0	98,000
proceeds from exercise of warrants		0
payment for repurchase of convertible subordinated notes due 2023										0	0	0	-96,204,000	0	0	0	-165,131,000
payment for repurchase of convertible senior notes due 2025
receivables from collaboration arrangement			3,984,000	-6,073,000	4,711,000		6,686,000	-5,327,000	7,750,000		8,708,000	-5,407,000	-5,642,000
cash paid for in-process research and development assets acquired
payment for repurchase of convertible subordinated notes due 2025
loss on extinguishment of debt														0	0	0	20,662,000													2,608,000	0	3,137,000	6,426,000
net gain on sale of trc														0
purchases of equity method investments
purchases of trading security managed by isp fund lp
proceeds from sale of ownership interest in trc														0
cash acquired through the consolidation of entasis														0
cash paid for the acquisition of la jolla, net of cash acquired
distributions to noncontrolling interests														0
purchase of entasis noncontrolling interest
purchases of capped call options associated with convertible senior notes due 2028														0	0	0	-21,037,000
proceeds from issuance of convertible senior notes due 2028, net of issuance costs														0	0	-256,000	252,792,000
accrued interest income added to long-term investments											0	0	-1,482,000
net decrease in cash and cash equivalents									-15,156,000
purchase and sales of other investments managed by isp fund lp																36,011,000	-132,266,000
changes in fair values of other equity and long-term investments											2,640,000	83,000	2,164,000
cash paid for the acquisition of la jolla pharmaceutical company, net of cash acquired
purchase of entasis minority interest
fair value adjustments included in cost of products sold
amortization of discount on short-term investments																						0	-7,000	-64,000	-272,000	-490,000	-615,000
amortization of lease guarantee																						-270,000	270,000	-54,000	-81,000	-82,000	-81,000
maturities of marketable securities																						0	4,000,000	28,000,000	54,000,000	52,999,000	103,050,000	30,000,000	27,875,000	16,500,000	23,000,000	31,875,000	8,000,000	10,000,000	26,387,000	8,000,000	16,430,000	27,671,000	30,191,000	34,045,000	25,075,000								108,763,000	45,158,000	44,925,000	48,226,000	71,250,000	31,500,000	26,000,000	44,000,000	50,000,000	20,565,000	27,500,000	110,175,000	111,982,000	12,020,000	62,451,000	-2,226,000	40,720,000
purchases of marketable securities																						0	0	0	-12,943,000	-993,000	-118,987,000
net proceeds from the issuance of variable interest entity’s equity
deferred income tax															23,274,000	-876,000	6,860,000
depreciation and amortization															5,415,000	3,591,000	3,501,000	3,456,000	3,458,000	3,458,000	3,460,000	3,458,000	3,461,000	3,458,000	3,463,000	3,474,000	3,320,000	3,541,000	3,539,000	3,468,000	3,468,000	3,468,000	3,496,000	3,495,000	3,496,000	3,491,000	3,484,000	3,483,000	3,483,000	3,483,000	3,483,000	2,530,000	2,790,000	3,400,000	1,794,000	1,992,000	1,898,000	1,890,000	1,662,000	1,910,000	2,052,000	1,757,000	1,650,000	1,560,000	1,622,000	1,515,000	1,497,000	1,324,000	1,205,000	1,588,000			834,000	820,000	871,000		1,047,000	1,061,000	980,000		1,035,000
amortization of inventory fair value adjustments included in cost of products sold
amortization of deferred royalty obligation value adjustment
other															138,000	577,000	280,000
other assets, current															-218,000	811,000	99,000
other assets, non-current															-2,780,000
net increase in cash, cash equivalents and restricted cash
cash, cash equivalents and restricted cash at end of period
receivables from collaborative arrangements																-18,161,000	17,196,000	-9,440,000	2,991,000	-15,288,000	4,957,000	-1,781,000	-9,748,000	-268,000	-2,707,000	-10,216,000	-1,648,000	-8,924,000	24,647,000			14,705,000			3,120,000						311,000			2,316,000
cash acquired through the consolidation of entasis therapeutics holdings, inc.																0	23,070,000
distributions to noncontrolling interest																-9,547,000	-6,507,000	-13,099,000	-4,912,000	-20,161,000	-21,285,000	-2,512,000	0	-12,152,000	-15,810,000
supplemental disclosure of cash flow information:
cash paid for interest																0	5,411,000	0	4,966,000	0	4,967,000	0	4,966,000	0	4,967,000	300,000	5,213,000	243,000	5,218,000	6,709,000	1,972,000	8,941,000	12,246,000	10,788,000	13,522,000	13,597,000	11,008,000	13,124,000	8,215,000	4,084,000	6,870,000																									60,000	37,000	38,000	58,000	51,000	60,000	75,000	123,000	100,000
supplemental disclosure of non-cash investing and financing activities
adoption of asu 2020-06																0	28,123,000
right-of-use asset obtained through the consolidation of entasis therapeutics holdings, inc.																0	3,289,000
loss on write-off of property and equipment																										0
prepaid expenses and other current assets																		-895,000	192,000	335,000	571,000	-942,000	-53,000	177,000	140,000	-579,000	76,000	243,000	147,000	63,000			203,000			204,000			82,000	316,000	121,000										266,000	1,644,000	73,000
other long-term liabilities																										0				0	2,000	2,000	3,000	5,000	5,000																						-77,000	-77,000	620,000				650,000	4,979,000	382,000		440,000	408,000	442,000
payments of principal on senior secured term loans
payments of cash dividends to stockholders																										0	0
supplemental disclosure of cash flow information
distributions of equity and long-term investments																			0
changes in fair values of equity investments																						-11,032,000	29,368,000	-46,698,000	-21,915,000
purchases of equity and other long term investments
net proceeds from the issuance of variable interest entity's equity																						1,000	0
purchases of equity investments																							-12,500,000	-35,000,000	-25,000,000
operating lease liability
sales of marketable securities																																				0			0	0	57,098,000										0	3,750,000	5,000,000							0	1,500,000	12,304,000	-1,421,000	31,446,000	23,863,000
proceeds from issuance of convertible senior notes due 2025
proceeds from senior secured term loans
payments of debt issuance costs and debt discount
payments of principal on non-recourse notes due 2029
contributions from (distributions to) noncontrolling interest
net increase (decrease) in cash and cash equivalents																													2,734,000				10,783,000
net cash provided by operating activities																																			27,761,000
net cash provided by investing activities																																			22,395,000
amortization of premium (discount) on short-term investments
payment of principal on non-recourse notes due 2029
net (decrease) increase in cash and cash equivalents
interest added to the principal balance of non-recourse notes due 2029
realized gain on sale of marketable securities
repurchase of convertible subordinated notes due 2023
proceeds from capped-call options																																				0
amortization of debt issuance costs																																		714,000	687,000	724,000	715,000	699,000	769,000	763,000	764,000
amortization of premium (discount) on short term investment																																			17,000
interest added to the principal balance of the non-recourse term notes due 2029																																				0	172,000	683,000	5,613,000	6,409,000	6,427,000
gain on repurchase of convertible subordinated notes due 2023
payable to theravance biopharma, inc.
net loss																																							-4,584,000	-7,810,000	-10,667,000	-21,271,000	-63,564,000	-67,703,000							-30,625,000	-25,045,000	-22,667,000	-21,222,000	-20,805,000	-22,536,000	-22,183,000	-21,692,000	-19,217,000	-20,928,000			-32,364,000	-45,125,000	-49,450,000
adjustments to reconcile net loss to net cash from operating activities:
amortization of premium on short-term investments																																							134,000
inventories
accrued personnel-related expenses, accrued clinical and development expenses, and other accrued liabilities																																										-1,803,000	-2,574,000	4,448,000	1,531,000
deferred rent																																										41,000									404,000	1,156,000	776,000	706,000													-1,000	0	35,000	-31,000	100,000	35,000	34,000	68,000
capitalized fees paid to a related party
payments received on notes receivable																																										0			0	0	100,000				100,000	230,000	300,000	30,000	100,000	10,000	1,000	0	238,000	171,000	155,000	5,000	0	2,000	1,163,000		139,000	200,000	53,000
cash and cash equivalents contributed to theravance biopharma, inc.
change in restricted cash
proceeds from issuances of notes payable, net of debt issuance costs																																										0
net cash (used in) provided by financing activities
supplemental disclosure of noncash information
contribution of net assets, excluding cash and cash equivalents to theravance biopharma, inc.																																										0
conversion of convertible subordinated notes into common stock
guarantee issued in connection with the spin-off
increase in intangible assets
adjustments to reconcile net loss to net cash used in operating activities:
amortization of premium on short term investment																																									233,000
payments for capitalized fees paid to a related party
amortization of premium on marketable securities
change in fair value of capped-call derivative assets
account receivables																																										0
payments for intangible assets
purchase of capped-call options
supplemental disclosures of noncash information
amortization on premium of short-term investments
purchases of available-for-sale securities
maturities of available-for-sale securities																																											118,774,000	122,399,000	48,413,000	52,230,000	54,753,000
sales of available-for-sale securities																																											0	5,000,000	5,000,000
accrued interest on convertible subordinated notes
deferred rent expense																																												116,000
proceeds from issuances of convertible subordinated notes, net of debt issuance costs
gain on marketable securities
loss on disposal of assets
change in capped-call option valuation																																													0
release of restricted cash																																																0						0			0						20,000	0	30,000
issuances of notes receivable
payments on note payable and capital lease
payment for capped calls
proceeds from issuances of convertible subordinated notes																																													-1,000	-50,000	281,673,000
supplemental non-cash financing activities:
intangible asset
gain on sale of available-for-sale securities
change in capped call option valuation																																															1,422,000
sale of available-for-sale securities																																															5,000,000
payments for capped calls
gain on sales of available-for-sale securities
forgiveness of notes receivable																																																			15,000	0	1,000							6,000	-8,000	11,000			12,000		12,000	13,000	17,000		43,000
receivables																																																23,000	-31,000	160,000			268,000
accrued personnel-related expenses, accrued interest on convertible subordinated notes and other current liabilities
purchases of short-term investments and marketable securities
sales of short-term investments and marketable securities
maturities of short-term investments and marketable securities
recognized gain on marketable securities
additions to notes receivable
accrued personnel-related expenses, accrued clinical and development expenses, accrued interest on convertible subordinated notes and other current liabilities
other liabilities, non-current
payments on notes payable and capital lease
notes receivable																																																						14,000	1,000	3,000
receivables, prepaid and other current assets																																																						597,000	1,169,000	36,000	256,000						881,000							-219,000			472,000
accounts payable and accrued liabilities																																																																	2,307,000	5,463,000	-1,575,000	-2,714,000	6,029,000	4,070,000	1,963,000	107,000	3,524,000	4,831,000
accrued personnel-related expenses																																																															1,334,000			1,754,000								1,822,000
loss on sale of equipment
proceeds from sale of equipment
payments on notes payable
proceeds from issuance of convertible subordinated notes, net of issuance costs																																																												-1,000	0	166,733,000
net proceeds from issuances of common stock																																																												2,725,000	2,631,000	214,000	1,354,000	3,562,000	624,000	1,659,000	992,000	2,750,000	141,823,000	1,662,000	1,055,000	2,775,000	715,000	109,460,000
cash flows used in operating activities
depreciation																																																														1,082,000											1,086,000	1,186,000
amortization																																																														756,000
change in accrued interest receivable on marketable securities
payments on notes payable and capital leases
forgiveness (net cancellation) of notes receivable
supplemental disclosures of cash flow information
non-cash financing activity:
removal of deferred stock-based compensation
forgiveness (cancellation) of notes receivable
net cash provided by financing activities																																																																3,540,000	603,000
non-cash investing and financing activities:
other non-cash operating expenses																																																																			-31,000	496,000	11,000		157,000	-241,000	396,000
cash flows provided by financing activities
forgiveness of notes receivables																																																																									55,000	80,000
other non-cash operating activities
receivables, prepaid and other assets
other liabilities
restricted cash and cash equivalents																																																																						0	0	334,000	343,000	386,000
decrease in notes receivable																																																																						71,000	43,000	51,000	413,000	-30,000
payments on notes payables and capital leases
net proceeds from issuances of convertible preferred stock																																																																										0
conversion of convertible preferred stock to common stock																																																																										0
repurchases/issuances of common stock for notes receivable
addition to (reversal of) deferred stock-based compensation																																																																					-4,965,000
sales and maturities of marketable securities																																																																			71,764,000	33,017,000	46,127,000	48,345,000	26,144,000	56,406,000	27,052,000	28,753,000
addition to (removal of) deferred stock-based compensation																																																																			0
non-cash stock-based compensation																																																																					5,013,000
cash flows used in financing activities
deferred sublease costs
net cash (used in) provide by investing activities
proceeds from line of credit
payments on line of credit
deferred financing costs
deferred stock-based compensation																																																																										-2,047,000
addition to deferred stock-based compensation																																																																							0	0	896,000
proceeds from notes payables and capital leases
repurchases of common stock originally issued with notes receivable

Innoviva, Inc(NASDAQ:INVA)

Innoviva, Inc
(NASDAQ:INVA)