Innoviva Reports Third Quarter 2025 Financial Results; Highlights Recent Company Progress
BURLINGAME, Calif.--( BUSINESS WIRE)--Innoviva, Inc. (NASDAQ: INVA) (“Innoviva” or the “Company”), a diversified holding company with a core royalties portfolio, a leading critical care and infectious disease platform known as Innoviva Specialty Therapeutics (“IST”), and a portfolio of strategic investments in healthcare assets, today reported financial results for the third quarter ended September 30, 2025, and highlighted select corporate progress and achievements.
“Innoviva delivered strong third-quarter performance across each area of our business. The royalties portfolio reaffirmed its resilience with 5% growth compared to last year, while IST delivered a third consecutive quarter of greater than 50% year-over-year U.S. sales growth. We are encouraged by early market receptivity for ZEVTERA ® following its U.S. launch over the summer and look forward to zoliflodacin’s December 15 PDUFA date,” said Pavel Raifeld, Chief Executive Officer of Innoviva.
“Across the broader portfolio, we saw meaningful value creation from our strategic investments, including Armata Pharmaceuticals, and continued to thoughtfully deploy capital in areas of opportunity and market dislocation. The $125 million share repurchase program underscores our confidence in Innoviva’s prospects, supported by the strength of our balance sheet and cashflows, as we strive to create value for our shareholders,” concluded Mr. Raifeld.
Financial Highlights
Key Business and R&D Highlights
About Innoviva
Innoviva is a diversified holding company with a core royalties portfolio, a leading critical care and infectious disease platform known as Innoviva Specialty Therapeutics (“IST”), and a portfolio of strategic investments in healthcare assets. Innoviva’s royalty portfolio includes respiratory assets partnered with Glaxo Group Limited (“GSK”). Innoviva is entitled to receive royalties from GSK on sales of RELVAR ®/BREO ® ELLIPTA ® and ANORO ® ELLIPTA ®. Innoviva’s other innovative healthcare assets include infectious disease and critical care assets stemming from acquisitions of Entasis Therapeutics, including XACDURO ® (sulbactam for injection; durlobactam for injection), co-packaged for intravenous use approved for the treatment of adults with hospital-acquired bacterial pneumonia and ventilator-associated bacterial pneumonia caused by susceptible strains of Acinetobacter baumannii-calcoaceticus complex and the investigational zoliflodacin currently being developed for the treatment of uncomplicated gonorrhea, and La Jolla Pharmaceutical Company, including GIAPREZA ® (angiotensin II), approved to increase blood pressure in adults with septic or other distributive shock and XERAVA ® (eravacycline) for the treatment of complicated intra-abdominal infections in adults. Innoviva also markets ZEVTERA (ceftobiprole), an advanced-generation cephalosporin antibiotic, in the U.S. through an exclusive license from Basilea Pharmaceutica International Ltd, Allschwil. For more information about Innoviva, go to www.inva.com. For information about Innoviva Specialty Therapeutics, go to www.innovivaspecialtytherapeutics.com.
ANORO ®, RELVAR ® and BREO ® are trademarks of the GSK group of companies. ZEVTERA is a trademark of Basilea Pharmaceutica Ltd, Allschwil.
Forward Looking Statements
This press release contains certain “forward-looking” statements as that term is defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things, statements relating to goals, plans, objectives, and future events. Innoviva intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. The words “anticipate”, “expect”, “goal”, “intend”, “objective”, “opportunity”, “plan”, “potential”, “target” and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements involve substantial risks, uncertainties, and assumptions. These statements are based on the current estimates and assumptions of the management of Innoviva as of the date of this press release and are subject to known and unknown risks, uncertainties, changes in circumstances, assumptions and other factors that may cause the actual results of Innoviva to be materially different from those reflected in the forward-looking statements. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, among others, risks related to: expected cost savings; lower than expected future royalty revenue from respiratory products partnered with GSK; the commercialization of RELVAR ®/BREO ® ELLIPTA ®, ANORO ® ELLIPTA ®, GIAPREZA ®, XERAVA ®, XACDURO ® and ZEVTERA ® in the jurisdictions in which these products have been approved; the strategies, plans and objectives of Innoviva (including Innoviva’s growth strategy and corporate development initiatives); the timing, manner, and amount of potential capital returns to shareholders; the status and timing of clinical studies, data analysis and communication of results; the potential benefits and mechanisms of action of product candidates; expectations for product candidates through development and commercialization; the timing of regulatory approval of product candidates; and projections of revenue, expenses and other financial items; the timing, manner and amount of capital deployment, including potential capital returns to stockholders; and risks related to the Company’s growth strategy. Other risks affecting Innoviva are described under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” contained in Innoviva’s Annual Report on Form 10-K for the year ended December 31, 2024 and subsequently Quarterly Reports on Form 10-Q, which are on file with the Securities and Exchange Commission (“SEC”) and available on the SEC’s website at www.sec.gov. Past performance is not necessarily indicative of future results. No forward-looking statements can be guaranteed, and actual results may differ materially from such statements. Given these uncertainties, you should not place undue reliance on these forward-looking statements. The information in this press release is provided only as of the date hereof, and Innoviva assumes no obligation to update its forward-looking statements on account of new information, future events or otherwise, except as required by law.
2025
2024
2025
2024
$
59,896
$
57,056
$
181,583
$
179,213
47,294
27,822
113,066
68,557
610
4,630
2,066
19,135
107,800
89,508
296,715
266,905
25,643
9,990
45,075
29,433
6,618
6,511
19,640
19,391
75,539
73,007
232,000
218,081
27,291
26,219
81,194
84,364
13,670
3,551
26,049
9,989
40,961
29,770
107,243
94,353
34,578
43,237
124,757
123,728
30,751
(18,231
)
30,284
(42,997
)
31,510
(16,936
)
(22,509
)
(60,827
)
5,472
5,500
14,935
13,373
(4,015
)
(5,807
)
(13,389
)
(17,460
)
(479
)
(914
)
(2,252
)
(3,123
)
97,817
6,849
131,826
12,694
(7,909
)
(5,636
)
(24,814
)
(9,634
)
$
89,908
$
1,213
$
107,012
$
3,060
$
1.30
$
0.02
$
1.65
$
0.05
$
1.08
$
0.02
$
1.35
$
0.05
69,058
62,569
64,901
62,759
84,964
62,951
84,576
63,020
2025
2024
2025
2024
$
63,352
$
60,512
$
191,951
$
189,581
(3,456
)
(3,456
)
(10,368
)
(10,368
)
$
59,896
$
57,056
$
181,583
$
179,213
2025
2024
$
476,513
$
304,964
93,519
86,366
38,363
33,725
19,586
21,719
56,589
107,532
1,529
514
426,371
393,957
59,593
69,961
1,402
2,453
17,905
17,905
188,793
208,433
7,982
12,054
40,961
41,477
$
1,429,106
$
1,301,060
$
34,669
$
39,507
231
3,422
13,571
1,126
—
192,028
257,377
256,316
57,431
64,275
55,876
53,227
1,009,951
691,159
$
1,429,106
$
1,301,060
2025
2024
$
142,417
$
129,451
16,860
(48,308
)
12,272
(14,026
)
$
171,549
$
67,117
304,964
193,513
$
476,513
$
260,630