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Jun 30, 2023
Innoviva Q2 2023 Earnings Report
Reported strong revenues from royalty and product portfolios, and received FDA approval for XACDURO®.
Key Takeaways
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.
Forward Guidance
Innoviva is excited about the prospects of its business and continues to pursue shareholder value accretive activities, such as share repurchases.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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