Innoviva reported strong cash flow from its core royalty portfolio and significant pipeline and commercial progress in its therapeutics platform. The company ended the year with over $275 million in cash and account receivables, while returning capital with share repurchases of over $75 million and paying down outstanding debt of nearly $100 million.
Received GSK royalties of $69.6 million for the fourth quarter.
Achieved net product revenues of $19.7 million for the fourth quarter of 2023, representing 35% year-on-year growth.
Approval and launch of first pathogen targeted antibacterial XACDURO® for treatment of HABP/VABP caused by Acinetobacter infections.
Repurchased 1.1 million of common stock for $15.4 million in the fourth quarter of 2023.
Innoviva's diversified growth strategy, strong leadership team, and focus on cost discipline position it well to deliver shareholder value.
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