Innoviva reported a robust second quarter, demonstrating successful transformation with strong performance across the core GSK royalties portfolio and accelerating growth from commercial products GIAPREZA, XACDURO, and XERAVA. The company remains focused on enhancing shareholder value through capital allocation and operational excellence.
Core royalty platform showed strong performance, receiving GSK royalties of $67.2 million.
Innoviva Specialty Therapeutics’ (IST) marketed portfolio grew 38% year-over-year, achieving net product sales of $21.7 million.
XACDURO was approved in China.
XACDURO was named the preferred agent for treatment of Carbapenem-resistant Acinetobacter baumannii infections in the 2024 Infectious Diseases Society of America (IDSA) treatment guidance.
No specific forward guidance was provided in the press release.
Analyze how earnings announcements historically affect stock price performance