AI Earnings Predictions for Innoviva Inc. (INVA)

EX-99.1

2 d177079dex991.htm

EX-99.1

EX-99.1

Exhibit 99.1

Innoviva Reports Third Quarter 2026 Financial Results; Highlights Recent Company Progress

Innoviva Specialty Therapeutics commercial momentum continues with $43.3 million generated in U.S. net product sales, representing 45% year-over-year growth

$58.1 million in quarterly revenue from durable royalty portfolio

Returned capital to shareholders through repurchase of 1.2 million shares in Q3 under $125 million buyback program

BURLINGAME, Calif. – Nov 4, 2026 – Innoviva, Inc. (NASDAQ: INVA) (“Innoviva” or the “Company”), a diversified biopharmaceutical 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, 2026, and highlighted select corporate progress and achievements.

“IST delivered another quarter of excellent growth, with U.S. net product sales increasing 45% year-over-year to $43.3 million, keeping us on track to achieve our 2026 guidance of at least $150 million in U.S. net product sales. We are excited about the potential to meaningfully expand the reach of our products and expect operating leverage, supported by sustained fiscal discipline, to strengthen the business’s profitability as revenues grow. Marking another milestone for IST, NUZOLVENCE®, a first-in-class, single-dose oral antibiotic for the treatment of uncomplicated urogenital gonorrhea, is now commercially available in the U.S.,” said Pavel Raifeld, Chief Executive Officer of Innoviva.

“Our durable royalty portfolio, coupled with a strong balance sheet and IST’s expanding revenue base, provides a strong foundation for disciplined, value-accretive capital allocation. To that end, we evaluate new opportunities that can broaden our portfolio and further accelerate growth alongside investments in our high-potential strategic healthcare assets. We also continue to execute on our share repurchase program, reflecting our excitement and conviction in Innoviva’s long-term prospects,” concluded Mr. Raifeld.

Financial Highlights

•

Total revenue: $106.1 million, decreased modestly by 1.6% year over year compared to $107.8 million for the third quarter of 2025, as growth in U.S. net product sales was partially offset with lower royalty revenue and fluctuations in the timing of inventory sales to ex-U.S. partners.

•

Royalty revenue: gross royalty revenue from Glaxo Group Limited (“GSK”) remained stable at $58.1 million.

•

Net product sales: $49.4 million, comprising $43.3 million in U.S. net product sales and $6.1 million in ex-U.S. sales. U.S. net product sales increased 45% year-over-year, compared to $29.9 million in the same quarter of 2025. U.S. net product sales primarily consisted of $23.1 million from GIAPREZA®, $16.1 million from XACDURO®, and $3.4 million from XERAVA®.

•

Income from operations: $42.2 million, 21.9% increase compared to $34.6 million for the third quarter of 2025, primarily driven by higher U.S. net product sales, partially offset by increased operating expenses associated with the expansion of commercial activities to support future sales growth.

•

Equity and long-term investments: net unfavorable changes in fair value of equity and long-term

investments totaled $139.5 million, primarily attributable to a decline in the stock price of Armata Pharmaceuticals at quarter-end. As of September 30, 2026, Innoviva’s strategic healthcare investments were valued at $535.5 million, consisting of $323.7 million invested in Armata Pharmaceuticals, $179.9 million in other strategic equity and convertible debt investments, and $31.9 million in investments held by ISP Fund.

•

Net income: net loss of $73.9 million, or $1.03 basic loss per share, driven primarily by a decrease in fair value of equity and long-term investments.

•

Cash and cash equivalents: totaled $581.4 million. Royalty and net product sales receivables totaled $102.1 million as of September 30, 2026.

Business Highlights

•

Innoviva Specialty Therapeutics (IST)

•

Updated 2026 guidance from the Infectious Diseases Society of America (IDSA) further strengthens the clinical positioning of XACDURO® (sulbactam/durlobactam for injection), reaffirming its use with imipenem or meropenem as the preferred treatment for invasive carbapenem-resistant Acinetobacter baumannii (CRAB) infections. By recommending high-dose ampicillin-sulbactam combination regimens only as temporary bridging therapy when XACDURO® is not immediately available, the updated guidance underscores the importance of timely hospital access and supports XACDURO®’s opportunity for broader adoption and continued commercial growth.

•

The 2026 Antimicrobial Resistance Threats Report from the Centers for Disease Control and Prevention identifies four pathogens in its highest threat category, requiring “urgent and ag

SEC.gov | Request Rate Threshold Exceeded

U.S. Securities and Exchange Commission

You’ve Exceeded the SEC’s Traffic Limit

Your request rate has exceeded the SEC’s maximum allowable requests per second. Your access to SEC.gov will be limited for 10 minutes.

Current guidelines limit each user to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests. To ensure that SEC.gov remains available to all users, we reserve the right to block IP addresses that submit excessive requests.

The block will be lifted automatically by waiting 10 minutes. Continuing to exceed the SEC’s maximum allowable request rate during the time-out period will extend the duration of the time-out period. To ensure fair access for all users, please reduce the rate of your requests and visit SEC.gov again after the 10 minute time-out period has passed.

For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. You can also sign up for email updates on the SEC open data program, including best practices that make it more efficient to download data, and SEC.gov enhancements that may impact scripted downloading processes. For more information, contact opendata@sec.gov.

For more information, please see the SEC’s Web Site Privacy and Security Policy. Thank you for your interest in the U.S. Securities and Exchange Commission.

Reference ID: 0.cf06d217.1785967310.9a9dfc85

More Information

Internet Security Policy

By using this site, you are agreeing to security monitoring and auditing. For security purposes, and to ensure that the public service remains available to users, this government computer system employs programs to monitor network traffic to identify unauthorized attempts to upload or change information or to otherwise cause damage, including attempts to deny service to users.

Unauthorized attempts to upload information and/or change information on any portion of this site are strictly prohibited and are subject to prosecution under the Computer Fraud and Abuse Act of 1986 and the National Information Infrastructure Protection Act of 1996 (see Title 18 U.S.C. §§ 1001 and 1030).

To ensure our website performs well for all users, the SEC monitors the frequency of requests for SEC.gov content to ensure automated searches do not impact the ability of others to access SEC.gov content. We reserve the right to block IP addresses that submit excessive requests. Current guidelines limit users to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests.

If a user or application submits more than 10 requests per second, further requests from the IP address(es) may be limited for a brief period. Once the rate of requests has dropped below the threshold for 10 minutes, the user may resume accessing content on SEC.gov. This SEC practice is designed to limit excessive automated searches on SEC.gov and is not intended or expected to impact individuals browsing the SEC.gov website.

Note that this policy may change as the SEC manages SEC.gov to ensure that the website performs efficiently and remains available to all users.

Note: We do not offer technical support for developing or debugging scripted downloading processes.

SEC.gov | Request Rate Threshold Exceeded

U.S. Securities and Exchange Commission

You’ve Exceeded the SEC’s Traffic Limit

Your request rate has exceeded the SEC’s maximum allowable requests per second. Your access to SEC.gov will be limited for 10 minutes.

Current guidelines limit each user to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests. To ensure that SEC.gov remains available to all users, we reserve the right to block IP addresses that submit excessive requests.

The block will be lifted automatically by waiting 10 minutes. Continuing to exceed the SEC’s maximum allowable request rate during the time-out period will extend the duration of the time-out period. To ensure fair access for all users, please reduce the rate of your requests and visit SEC.gov again after the 10 minute time-out period has passed.

For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. You can also sign up for email updates on the SEC open data program, including best practices that make it more efficient to download data, and SEC.gov enhancements that may impact scripted downloading processes. For more information, contact opendata@sec.gov.

For more information, please see the SEC’s Web Site Privacy and Security Policy. Thank you for your interest in the U.S. Securities and Exchange Commission.

Reference ID: 0.e618d017.1784726423.7f96055

More Information

Internet Security Policy

By using this site, you are agreeing to security monitoring and auditing. For security purposes, and to ensure that the public service remains available to users, this government computer system employs programs to monitor network traffic to identify unauthorized attempts to upload or change information or to otherwise cause damage, including attempts to deny service to users.

Unauthorized attempts to upload information and/or change information on any portion of this site are strictly prohibited and are subject to prosecution under the Computer Fraud and Abuse Act of 1986 and the National Information Infrastructure Protection Act of 1996 (see Title 18 U.S.C. §§ 1001 and 1030).

To ensure our website performs well for all users, the SEC monitors the frequency of requests for SEC.gov content to ensure automated searches do not impact the ability of others to access SEC.gov content. We reserve the right to block IP addresses that submit excessive requests. Current guidelines limit users to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests.

If a user or application submits more than 10 requests per second, further requests from the IP address(es) may be limited for a brief period. Once the rate of requests has dropped below the threshold for 10 minutes, the user may resume accessing content on SEC.gov. This SEC practice is designed to limit excessive automated searches on SEC.gov and is not intended or expected to impact individuals browsing the SEC.gov website.

Note that this policy may change as the SEC manages SEC.gov to ensure that the website performs efficiently and remains available to all users.

Note: We do not offer technical support for developing or debugging scripted downloading processes.