Innoviva Q2 revenue rises on higher net product sales

Innoviva

05/08/2026 21:40

Overview
US biopharma firm's Q2 revenue rose 19% yr/yr, driven by higher net product sales
Company posted a net loss, mainly due to lower fair value of investments
Company repurchased $31.4 mln in shares and launched Nortiva Bio drug delivery unit

Outlook
Innoviva sees IST U.S. net product sales of at least $150 mln in 2026
Company says commercial momentum and robust execution expected to drive IST sales growth
Innoviva says durable cash generation from royalty portfolio supports long-term outlook

Result Drivers
IST SALES GROWTH - IST net product sales rose 46% yr/yr, with U.S. sales up 26%, driven by critical care and infectious disease portfolio
ROYALTY PORTFOLIO - Royalty revenue from GSK respiratory products remained stable, contributing $59.8 mln in Q2 revenue
NEW PRODUCT INITIATIVES - Launch of Nortiva Bio to advance long-acting oral drug delivery platform and new licensing deal for XACDURO in emerging markets
NET LOSS -  Driven primarily by decrease in fair value of equity and long-term investments

Company press release: ID:nBw9WTGkha

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Royalty Revenue
 
$56.33 mln
 
Q2 Net Loss
 
$83.42 mln
 
Q2 Pretax Loss
 
$108.02 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the pharmaceuticals peer group is "buy"
Wall Street's median 12-month price target for Innoviva, Inc. is $39.00, about 87% above its August 4 closing price of $20.86
The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 11 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)