INVA on Nasdaq

Innoviva, Inc.

American pharmaceutical preparations company based in Brisbane.

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Last updated Oct 18, 2026.

Overview

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  • TickerINVA on Nasdaq
  • IndustryPharmaceutical Preparations
  • HeadquartersBrisbane, United States
  • Incorporated inDE2
  • Business address1350 Old Bayshore Highway, Suite 400, Burlingame, Ca 940102
  • Filer categoryLarge accelerated filer2

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

74.8%Gross margin3
39.8%Operating margin3
65.9%Net margin3
14.7%Revenue growth, 20253
23.1%Return on equity3
0.22×Debt to equity3
$195.8MFree cash flow3

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Royalty brought in 57% of the revenue Innoviva, Inc. broke down this way in fiscal 2025.

  1. Royalty$236.5M357%down 2% from 2024
  2. Xacduro$74.4M318%up 253% from 2024
  3. Giapreza$73.6M318%up 34% from 2024
  4. Xerava$23.5M36%up 10% from 2024
  5. License And Other Revenue$2.7M31%down 86% from 2024
  6. Zevtera$610.0K30%
Products and services by year
Products and services202320242025
Royalty$238.8M$241.7M$236.5M
Xacduro$2.0M$21.1M$74.4M
Giapreza$41.3M$55.0M$73.6M
Xerava$17.3M$21.4M$23.5M
License And Other Revenue$11.0M$19.5M$2.7M
Zevtera$0$0$610.0K

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Research and development6¢$30.6M
  • Selling, general and admin23¢$113.3M
  • Interest3¢$16.7M
  • Income tax11¢$55.7M
  • Profit56¢$271.2M

Out of $411.3M in revenue.3

Where each dollar of operating cash went, fiscal 2025

  • Capital spending1¢$1.1M
  • Share buybacks2¢$4.5M
  • Kept or used elsewhere97¢$191.3M

Out of $196.9M of cash from operations.3

Financial statements

Revenue45673$411.3M in 2025+58% since 2019
0$200.0M$400.0M$600.0M2019: $261.0M$261.0M20192020: $336.8M$336.8M2020+29%2021: $391.9M$391.9M2021+16%2022: $331.3M$331.3M2022−15%2023: $310.5M$310.5M2023−6%2024: $358.7M$358.7M2024+16%2025: $411.3M$411.3M2025+15%
Gross profit3$307.7M in 2025+25% since 2023
0$100.0M$200.0M$300.0M$400.0M2023: $246.0M$246.0M20232024: $296.2M$296.2M2024+20%2025: $307.7M$307.7M2025+4%
Operating income43$163.7M in 2025−34% since 2019
0$100.0M$200.0M$300.0M$400.0M2019: $246.4M$246.4M20192020: $321.1M$321.1M2020+30%2021: $375.1M$375.1M2021+17%2023: $113.9M$113.9M2023−70%2024: $166.9M$166.9M2024+47%2025: $163.7M$163.7M2025−2%
Net income45673$271.2M in 2025+42% since 2019
0$100.0M$200.0M$300.0M$400.0M2019: $191.0M$191.0M20192020: $293.8M$293.8M2020+54%2021: $368.8M$368.8M2021+26%2022: $220.3M$220.3M2022−40%2023: $179.7M$179.7M2023−18%2024: $23.4M$23.4M2024−87%2025: $271.2M$271.2M2025+1059%

Every line of the income statement as filed: the last 3 fiscal years, latest first.3

Period ending2025-12-312024-12-312023-12-31
Total revenue$411.3M$358.7M$310.5M
Amortization of acquired intangible assets$26.3M$25.9M$21.8M
Gross profit$307.7M$296.2M$246.0M
Selling, general and administrative$113.3M$115.7M$98.2M
Research and development$30.6M$13.7M$33.9M
Total operating expenses$143.9M$129.3M$132.2M
Income from operations$163.7M$166.9M$113.9M
Changes in fair values of equity method investments, net$141.4M-$64.3M$77.4M
Changes in fair values of equity and long-term investments, net$20.2M-$59.2M$11.1M
Interest and dividend income$21.1M$19.1M$15.8M
Interest expense-$16.7M-$22.2M-$19.2M
Other expense, net-$2.9M-$3.0M-$5.0M
Income before provision for income taxes$326.9M$37.4M$194.1M
Income tax expense, net-$55.7M-$14.0M-$14.4M
Net income and comprehensive income$271.2M$23.4M$179.7M
Basic$4.02$0.37$2.75
Diluted$3.30$0.36$2.20
Basic67.4M shares62.7M shares65.4M shares
Diluted84.8M shares74.2M shares86.9M shares

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Leadership

Who has led Innoviva, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Rick E. Winningham2006–2014
  2. Michael W. Aguiar2014–2015
  3. Pavel Raifeld2020–now

President

  1. Michael W. Aguiar2014–2017

Chief financial officer

  1. Michael W. Aguiar2006–2014
  2. Eric Desparbes2014–2018
  3. Stephen Basso2023–now
2010201520202025
Board members and other officers (47)

Former names

  • THERAVANCE INCJun 2, 2004 to Dec 7, 20152
  • ADVANCED MEDICINE INCApr 12, 2000 to Aug 2, 20002

Timeline

  1. May 29, 2020New chief executive Pavel Raifeld becomes CEO11
  2. Aug 19, 2014New chief executive Michael W. Aguiar becomes CEO12
  3. Feb 10, 2006New chief executive Rick E. Winningham becomes CEO13
  4. Nov 19, 1996Founded Innoviva, Inc. is founded62

Filings

251 filings to the SEC since October 2021: 11 annual reports, 15 quarterly reports, 52 major events, 95 insider forms, 47 large holders, 31 other. The latest 20:

  1. Aug 24, 20264 EDGAR
  2. Aug 24, 20264 EDGAR
  3. Aug 24, 20264 EDGAR
  4. Aug 5, 202610-Q EDGAR
  5. Aug 5, 20268-K EDGAR
  6. Jul 31, 2026SCHEDULE 13G EDGAR
  7. May 22, 20264 EDGAR
  8. May 22, 20264 EDGAR
  9. May 22, 20264 EDGAR
  10. May 20, 20264 EDGAR
  11. May 20, 20263 EDGAR
  12. May 18, 20268-K EDGAR
  13. May 13, 2026SCHEDULE 13D/A EDGAR
  14. May 6, 202610-Q EDGAR
  15. May 6, 20268-K EDGAR
  16. May 6, 20264 EDGAR
  17. May 6, 20264 EDGAR
  18. May 6, 20264 EDGAR
  19. May 6, 20264 EDGAR
  20. May 6, 20264 EDGAR

The 251 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 47 such filings since October 2021, the latest 10:

  1. Jul 31, 2026SCHEDULE 13G
  2. May 13, 2026SCHEDULE 13D/A
  3. Apr 29, 2026SCHEDULE 13G
  4. Mar 27, 2026SCHEDULE 13G/A
  5. Feb 12, 2026SCHEDULE 13G/A
  6. Jan 26, 2026SCHEDULE 13D/A
  7. Jan 21, 2026SCHEDULE 13G/A
  8. Aug 13, 2025SCHEDULE 13G/A
  9. Aug 12, 2025SCHEDULE 13D/A
  10. Aug 5, 2025SCHEDULE 13G/A

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.11,555,209$262.4M0.0%+247,364
Dimensional Fund Advisors LP4,494,053$102.1M0.0%+57,626
Vanguard Portfolio Management LLC4,220,273$95.8M0.0%−4,678
Renaissance Technologies LLC4,036,532$91.7M0.1%−19,100
State Street Corp3,268,004$74.2M0.0%+207,627
Vanguard Capital Management LLC3,158,053$71.7M0.0%+16,472
Millennium Management LLC2,541,109$57.7M0.0%+261,658
Geode Capital Management, LLC2,074,709$47.1M0.0%+144,991
Systematic Financial Management LP2,023,565$46.0M0.9%−517
Boston Partners1,927,959$43.8M0.0%+209,092
Sarissa Capital Management LP1,890,604$42.9M24.1%−240,346
Bank Of America Corp /de/1,667,697$37.9M0.0%+47,703
Goldman Sachs Group Inc1,620,093$36.8M0.0%+26,710
American Century Companies Inc1,498,044$34.0M0.0%−411,977
Marshall Wace, Llp1,454,319$33.0M0.0%−50,092
Morgan Stanley1,220,831$27.7M0.0%−89,919
Royce & Associates LP1,172,690$26.6M0.2%+111,242
Charles Schwab Investment Management Inc1,151,307$26.1M0.0%−12,406
Two Sigma Investments, LP1,032,807$23.5M0.0%−451,457
Qube Research & Technologies Ltd974,124$22.1M0.0%+188,017
Deutsche Bank Ag\917,961$20.8M0.0%+9,894
Assenagon Asset Management S.A.888,444$20.2M0.0%+444,222
Northern Trust Corp831,199$18.9M0.0%+56,896
DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main830,374$18.9M0.0%−61,962
Invesco Ltd.732,720$16.6M0.0%−171,562

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

2 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Mar 25, 2025George WhitesidesDemocratic, HouseSale$250,001 - $500,000+14.1%Report
Mar 24, 2025George WhitesidesDemocratic, HouseSale$50,001 - $100,000+14.1%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

Sources

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