Innoviva reported strong Q2 2023 financial results with significant revenues from its royalty portfolio and internal product portfolio. The company received FDA approval for XACDURO® and repurchased $9.2 million of common stock.
Received GSK royalties of $65.7 million, net product revenues of $15.7 million, and license revenue of $3.0 million.
FDA approved XACDURO® for hospital-acquired and ventilator-associated bacterial pneumonia.
Repurchased $9.2 million of common stock.
Net income was $1.3 million, or $0.02 basic per share.
Innoviva is excited about the prospects of its business and continues to pursue shareholder value accretive activities, such as share repurchases.
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