Innoviva, Inc. Files Q3 2024 10-Q Report

TL;DR

**INVA Q3 10-Q FILED: Check financials for latest performance update.**

AI Summary

Innoviva, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and business operations, including information on revenue, liabilities, and stock-related items. Key financial data points and disclosures relevant to investors are presented within this quarterly report.

Why It Matters

This filing provides investors with a crucial update on Innoviva's financial health and operational performance for the third quarter of 2024, impacting investment decisions.

Risk Assessment

Risk Level: medium — Quarterly reports like this 10-Q can reveal significant financial shifts, potential risks, or positive developments that could impact a company's stock price.

Key Numbers

• 20240930 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
• 20241106 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)

Key Players & Entities

• Innoviva, Inc. (company) — Filer of the 10-Q report.
• 20240930 (date) — End of the reporting period for the 10-Q.
• 20241106 (date) — Date the 10-Q was filed.
• THERAVANCE INC (company) — Former name of Innoviva, Inc.
• ADVANCED MEDICINE INC (company) — Former name of Innoviva, Inc.

FAQ

Key Financial Figures

• $0.01 — ch registered Common Stock, par value $0.01 per share INVA The Nasdaq Stock Mar

Filing Documents

• inva-20240930.htm (10-Q) — 2847KB
• inva-ex31_1.htm (EX-31.1) — 13KB
• inva-ex31_2.htm (EX-31.2) — 13KB
• inva-ex32.htm (EX-32) — 18KB
• 0000950170-24-122375.txt ( ) — 13156KB
• inva-20240930.xsd (EX-101.SCH) — 1846KB
• inva-20240930_htm.xml (XML) — 2735KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Income and Comprehensive Income for the Three and Nine Months Ended September 30, 2024 and 2023 4 Condensed Consolidated Statements of Stockholders' Equity for the Three and Nine Months Ended September 30, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023 7 Notes to Condensed Consolidated Financial Statements 9

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 38

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 46

Controls and Procedures

Item 4. Controls and Procedures 46

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 47

Risk Factors

Item 1A. Risk Factors 47

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 48

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 48

Mine Safety Disclosure

Item 4. Mine Safety Disclosure 48

Other Information

Item 5. Other Information 48

Exhibits

Item 6. Exhibits 49

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements INNOVIVA, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except per share data) September 30, December 31, 2024 2023 (Unaudited) * Assets Current assets: Cash and cash equivalents $ 260,630 $ 193,513 Accounts receivable 30,546 14,454 Receivables from collaboration arrangement 60,512 69,621 Inventory 34,236 40,737 Prepaid expenses 12,650 21,630 Other current assets 2,047 4,264 Total current assets 400,621 344,219 Property and equipment, net 544 483 Equity method investments 73,549 116,546 Equity and long-term investments 434,169 444,432 Capitalized fees paid, net 73,416 83,784 Right-of-use assets 2,789 2,536 Goodwill 17,905 17,905 Intangible assets 210,944 230,335 Deferred tax assets, net 14,875 — Other assets 2,800 3,267 Total assets $ 1,231,612 $ 1,243,507 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 4,170 $ 6,717 Accrued personnel-related expenses 5,965 7,020 Accrued interest payable 833 3,422 Deferred revenue 717 1,277 Convertible subordinated notes due 2025, net of issuance costs 191,843 — Income tax payable 2,623 — Other accrued liabilities 17,599 19,698 Total current liabilities 223,750 38,134 Long-term debt, net of discount and issuance costs 255,972 446,234 Other long-term liabilities 71,449 71,870 Deferred tax liabilities, net — 563 Income tax payable, long-term 11,899 11,751 Commitments and contingencies (Note 12) Stockholders' equity: Preferred stock: $ 0.01 par value, 230 shares authorized, no shares issued and outstanding — — Common stock: $ 0.01 par value, 200,000 shares authorized, 62,601 and 63,307 issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 626 633 Treasury stock: at cost, nil and 32,005 shares as of September 30

View Full Filing

View this 10-Q filing on SEC EDGAR