Innoviva Stock Price, News & Analysis

Innoviva reported substantial financial results for Q4 and full year 2021, with royalties rising by 18% to $111.1 million for Q4 and 19% to $405.7 million for the full year. Income from operations increased by 23% to $104.5 million in Q4 and 17% to $375.1 million for the year. Despite a $42.9 million decline in fair values of investments due to market volatility, the overall position remained strong with $201.5 million in cash and equivalents. A strategic investment of $45.0 million in Armata Pharmaceuticals is also highlighted.

Armata Pharmaceuticals announced a securities purchase agreement to sell common stock and warrants to Innoviva, raising $45 million before expenses. The funding will support Armata's clinical pipeline, particularly for AP-PA02 and AP-SA02, which target chronic Pseudomonas aeruginosa infections and complicated Staphylococcus aureus bacteremia, respectively. Innoviva will purchase 9 million shares at $5.00 each, with transactions occurring in two tranches. The second tranche is contingent on shareholder approval and is expected by the end of Q1 2022.

Innoviva, Inc. (NASDAQ: INVA) reported a 10% increase in royalties, totaling $101.3 million for Q3 2021, driven by strong sales from TRELEGY® ELLIPTA® and ANORO® ELLIPTA®. Gross revenue from RELVAR®/BREO® dropped 15%, but net income per share surged nearly four times to $1.04. Despite a 2% decline in ANORO® sales, international markets showed resilience. The company's income from operations rose 12% to $94.6 million, reflecting robust financial performance and a solid cash position of $135.1 million. CEO Pavel Raifeld highlighted the strong growth momentum and the recent equity repurchase for shareholder value.

Innoviva, Inc. (NASDAQ: INVA) announced its second-quarter financial results for 2021, reporting gross royalty revenues of $104.3 million, a 44% year-over-year increase. Key contributors included RELVAR®/BREO® ELLIPTA® with $65.9 million and TRELEGY® ELLIPTA®, which saw a 69% increase in global net sales. Income before taxes rose 15% to $136.2 million. The company successfully repurchased 32% of its equity from GSK for $394.1 million. Cash and receivables totaled $140.4 million as of June 30, 2021. CEO Pavel Raifeld highlighted the company's strategic investments and operational excellence.

Innoviva, Inc. (NASDAQ: INVA) announced a definitive agreement to purchase GSK's 32% equity stake, constituting approximately 32 million shares, for $12.25 each, totaling $392 million. This transaction represents a 3% discount to the recent average stock price. CEO Pavel Raifeld emphasized that the buyback enhances shareholder alignment and supports the company's strategic goals. Innoviva remains confident in its collaboration with GSK for respiratory products, anticipating continued significant value creation for shareholders.

Innoviva, Inc. (NASDAQ:INVA) reported Q1 2021 financial results showing gross royalty revenues of $89.0 million, a year-over-year increase of 8%. Key contributors included RELVAR®/BREO® ELLIPTA®, ANORO® ELLIPTA®, and TRELEGY® ELLIPTA®. Income before income taxes rose 36% to $129.4 million. Total cash and equivalents reached $279.6 million. The company invested $20.0 million in Armata, acquiring 60% ownership. CEO Pavel Raifeld acknowledged competitive challenges but expressed optimism for future growth.

Armata Pharmaceuticals, Inc. (NYSE American: ARMP) has successfully closed the second and final tranche of a $20 million private placement with Innoviva, Inc. (NASDAQ: INVA). This transaction raised approximately $13.9 million through the issuance of 4,285,935 common shares and warrants at $3.25 each, following a notable 99% shareholder approval. The first tranche, completed on January 26, 2021, raised $6.1 million. Following both closings, Armata now has 24,940,442 shares outstanding and warrants for 16,649,465 additional shares.

Innoviva, Inc. (NASDAQ: INVA) reported fourth-quarter 2020 gross royalty revenues of $93.9 million, primarily from GSK's RELVAR®/BREO® ELLIPTA®, ANORO® ELLIPTA®, and TRELEGY® ELLIPTA® products. Income before taxes rose 29% to $90.8 million. Significant net sales growth was noted: 5% for RELVAR®, 10% for ANORO®, and 42% for TRELEGY®. The company effectively managed its capital, investing nearly $400 million in promising assets and forming strategic partnerships to enhance returns. Cash and equivalents totaled $243.3 million as of year-end.

Armata Pharmaceuticals (NYSE American: ARMP) announced a securities purchase agreement with Innoviva (Nasdaq: INVA), securing approximately $20 million in gross proceeds. The funds will support Armata's bacteriophage development programs, including the FDA-cleared SWARM-P.a. study for AP-PA02 targeting Pseudomonas aeruginosa infections. The agreement includes the purchase of 6.2 million shares at $3.25 each and warrants, scheduled in two tranches. Armata aims to achieve significant clinical milestones in 2021 and 2022, advancing its pipeline for combatting antibiotic-resistant infections.