Innoviva, Inc. (INVA) Form 8-K — Aug 5, 2026

$INVAForm 8-KItems 2.02, 9.01Filed Aug 5, 2026, 4:19 PM ET0001193125-26-335192Original filing

Innoviva reported second quarter 2026 total revenue of $119.6 million, up 19% year over year, with net product sales of $51.8 million growing 46%, led by $21.0 million from GIAPREZA and $12.0 million from XACDURO in the U.S. Income from operations rose to $50.9 million from $48.8 million a year ago. Despite the operating strength, the company posted a net loss of $83.4 million, or $1.14 per basic share, driven by $161.0 million of unfavorable fair-value changes tied primarily to the lower share price of Armata Pharmaceuticals. Cash and equivalents stood at $570.4 million, and management reiterated its target of at least $150 million in IST U.S.

Key figures

Eps: -$1.14 basic (vs. $1.01 basic in Q2 2025)
Revenue: $119.6 million (Q2 2026)
Guidance: On track to achieve at least $150 million in IST U.S. net product sales in 2026
Net Income: -$83.4 million net loss
Total Debt: $258.5 million convertible senior notes due 2028, net
Revenue Yoy: +19%
Total Assets: $1.70 billion
Cash Position: $570.4 million
Receivables: $110.6 million (+25% YoY)
Sga expense: $34.6 million (vs. $26.4 million in Q2 2025)
Xerava us sales: $3.3 million
Xacduro us sales: $12.0 million
Giapreza us sales: $21.0 million
Net product sales: $51.8 million (+46% YoY)
Q2 share repurchases: 1,403,247 shares for $31.4 million
Us net product sales: $36.6 million (+26% YoY)
Cost of products sold: $22.3 million (vs. $10.6 million in Q2 2025)
Income from operations: $50.9 million (vs. $48.8 million in Q2 2025)
Gross royalty revenue gsk: $59.8 million (vs. $67.3 million in Q2 2025; +2% vs. Q1 2026)
Cumulative share repurchases: 2,602,168 shares for $56.4 million under $125 million program
Six month operating cash flow: $87.3 million
Capital committed to portfolio: $55.0 million aggregate in Q2 2026
Unfavorable fair value changes: $161.0 million, primarily Armata Pharmaceuticals share price decline
Strategic healthcare investments: $669.5 million (incl. $457.7 million Armata)

Price after filing

1 day: 0.0%7 days: -0.2%30 days: +2.3%

Close on the filing date to close N calendar days later (from $20.86). Historical, not a forecast.

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