$INVA
Innoviva, Inc.

2022 Q3 Form 10-Q Financial Statement

#000095017022013224 Filed on July 27, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $67.26M $724.0K $322.0K
YoY Change -31.27% 3520.0% 973.33%
Cost Of Revenue $3.680M
YoY Change
Gross Profit $63.58M
YoY Change
Gross Profit Margin 94.53%
Selling, General & Admin $27.81M $11.78M $6.492M
YoY Change 872.38% 178.67% 8.2%
% of Gross Profit 43.74%
Research & Development $11.73M $13.88M $5.838M
YoY Change 2511.36% 36436.84% 11814.29%
% of Gross Profit 18.44%
Depreciation & Amortization $5.415M $3.591M $3.501M
YoY Change 56.59% 5.06% 1.18%
% of Gross Profit 8.52%
Operating Expenses -$219.2M $25.67M $12.33M
YoY Change -6723.36% 501.64% 104.31%
Operating Profit $282.7M $82.55M $77.73M
YoY Change 199.03% -14.49% -2.21%
Interest Expense $5.096M $3.655M $3.010M
YoY Change 6.39% -22.97% -35.88%
% of Operating Profit 1.8% 4.43% 3.87%
Other Income/Expense, Net $28.00K -$528.0K -$250.0K
YoY Change -104.29% -44.48% -42.26%
Pretax Income $286.4M $20.50M $44.72M
YoY Change 132.53% -84.95% -65.45%
Income Tax $57.10M -$900.0K $6.900M
% Of Pretax Income 19.94% -4.39% 15.43%
Net Earnings $229.3M $21.37M $37.86M
YoY Change 123.43% -80.72% -65.49%
Net Earnings / Revenue 341.0% 2951.8% 11757.14%
Basic Earnings Per Share $3.81 $0.01 $0.23
Diluted Earnings Per Share $2.80 $0.05 $0.20
COMMON SHARES
Basic Shares Outstanding 69.71M 69.64M 69.54M
Diluted Shares Outstanding 95.83M 95.65M 93.73M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $301.1M $283.6M $216.8M
YoY Change 122.83% 555.45% -23.36%
Cash & Equivalents $300.8M $283.6M $216.8M
Short-Term Investments $282.0K
Other Short-Term Assets $2.432M $1.119M $1.930M
YoY Change 348.71% 52.45% 75.45%
Inventory $70.81M
Prepaid Expenses
Receivables $72.35M $111.7M $93.52M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $454.6M $400.3M $317.8M
YoY Change 91.87% 170.02% -14.78%
LONG-TERM ASSETS
Property, Plant & Equipment $165.0K $176.0K $191.0K
YoY Change 1000.0% 826.32% 695.83%
Goodwill $16.00M $5.544M $5.544M
YoY Change
Intangibles $258.5M $105.0M $105.0M
YoY Change
Long-Term Investments $489.1M $494.1M $544.4M
YoY Change -3.55% 4.31% 4.84%
Other Assets $4.620M $1.157M $313.0K
YoY Change 3297.06% 614.2% 66.49%
Total Long-Term Assets $873.1M $737.3M $789.7M
YoY Change 34.26% 15.05% 10.39%
TOTAL ASSETS
Total Short-Term Assets $454.6M $400.3M $317.8M
Total Long-Term Assets $873.1M $737.3M $789.7M
Total Assets $1.328B $1.138B $1.107B
YoY Change 49.65% 44.16% 1.76%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.805M $4.323M $1.808M
YoY Change 4175.28% 14310.0% 12814.29%
Accrued Expenses $27.30M $25.51M $11.40M
YoY Change 799.04% 377.68% 200.08%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $96.13M $96.07M $96.02M
YoY Change
Total Short-Term Liabilities $163.9M $125.9M $109.2M
YoY Change 5144.29% 2244.22% 2771.37%
LONG-TERM LIABILITIES
Long-Term Debt $443.7M $443.2M $442.7M
YoY Change 13.1% 13.64% 14.19%
Other Long-Term Liabilities $78.42M $3.091M $3.299M
YoY Change 560050.0% 6768.89% 4184.42%
Total Long-Term Liabilities $522.1M $446.3M $446.0M
YoY Change 33.08% 14.42% 15.01%
TOTAL LIABILITIES
Total Short-Term Liabilities $163.9M $125.9M $109.2M
Total Long-Term Liabilities $522.1M $446.3M $446.0M
Total Liabilities $686.0M $572.2M $555.3M
YoY Change 73.48% 44.71% 41.79%
SHAREHOLDERS EQUITY
Retained Earnings -$136.6M -$402.2M -$403.1M
YoY Change -70.72% -25.37% -35.79%
Common Stock $1.172B $1.184B $1.184B
YoY Change -7.23% -6.19% -6.24%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $641.4M $388.3M $386.6M
YoY Change
Total Liabilities & Shareholders Equity $1.328B $1.138B $1.107B
YoY Change 49.65% 44.16% 1.76%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income $229.3M $21.37M $37.86M
YoY Change 123.43% -80.72% -65.49%
Depreciation, Depletion And Amortization $5.415M $3.591M $3.501M
YoY Change 56.59% 5.06% 1.18%
Cash From Operating Activities $15.69M $79.04M $98.10M
YoY Change -83.78% -6.6% 16.64%
INVESTING ACTIVITIES
Capital Expenditures -$11.00K -$13.00K $9.000K
YoY Change
Acquisitions
YoY Change
Other Investing Activities $97.73M -$2.509M $2.015M
YoY Change -102.79% -98.21%
Cash From Investing Activities $97.72M -$2.522M -$143.2M
YoY Change -102.8% 442.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $260.0K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -96.16M -9.735M 60.33M
YoY Change 1878.26% -97.65% -383.11%
NET CHANGE
Cash From Operating Activities 15.69M 79.04M 98.10M
Cash From Investing Activities 97.72M -2.522M -143.2M
Cash From Financing Activities -96.16M -9.735M 60.33M
Net Change In Cash 17.25M 66.78M 15.28M
YoY Change -81.22% -127.87% -58.03%
FREE CASH FLOW
Cash From Operating Activities $15.69M $79.04M $98.10M
Capital Expenditures -$11.00K -$13.00K $9.000K
Free Cash Flow $15.70M $79.05M $98.09M
YoY Change -83.77% -6.59% 16.63%

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1.73
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
69643000
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
88423000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
69594000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
94692000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
107096000
CY2022Q2 us-gaap Profit Loss
ProfitLoss
21371000
CY2021Q2 us-gaap Profit Loss
ProfitLoss
110846000
us-gaap Profit Loss
ProfitLoss
59229000
us-gaap Profit Loss
ProfitLoss
220541000
CY2022Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
21371000
CY2021Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
110846000
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
59229000
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
220541000
CY2022Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
20432000
CY2021Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
21898000
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
42517000
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
37470000
CY2022Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
939000
CY2021Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
88948000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
16712000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
183071000
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
525935000
CY2022Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
6507000
CY2022Q1 inva Fair Value Of Non Controlling Interest In Subsidiary
FairValueOfNonControllingInterestInSubsidiary
38471000
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
954000
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Equity Component Of Convertible Debt
AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt
-16585000
CY2022Q1 us-gaap Profit Loss
ProfitLoss
37858000
CY2022Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
552217000
CY2022Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
9545000
CY2022Q2 inva Changes To Noncontrolling Interest From A Consolidated Variable Interest Entity
ChangesToNoncontrollingInterestFromAConsolidatedVariableInterestEntity
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CY2022Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
68000
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Convertible Debt With Conversion Feature
AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature
3000
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1350000
CY2021Q2 us-gaap Profit Loss
ProfitLoss
110846000
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
393745000
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
99046000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-20662000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-857000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-16000
us-gaap Increase Decrease In Due From Related Parties Current
IncreaseDecreaseInDueFromRelatedPartiesCurrent
965000
us-gaap Increase Decrease In Due From Related Parties Current
IncreaseDecreaseInDueFromRelatedPartiesCurrent
10331000
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-2968000
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-578000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-910000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-328000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
844000
us-gaap Payments To Acquire Longterm Investments
PaymentsToAcquireLongtermInvestments
46373000
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
565462000
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
607837000
CY2021Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
21285000
CY2021Q1 inva Changes To Noncontrolling Interest From A Consolidated Variable Interest Entity
ChangesToNoncontrollingInterestFromAConsolidatedVariableInterestEntity
8000
CY2021Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
-25000
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
451000
CY2021Q1 us-gaap Profit Loss
ProfitLoss
109695000
CY2021Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
696681000
CY2021Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
20161000
CY2021Q2 inva Changes To Noncontrolling Interest From A Consolidated Variable Interest Entity
ChangesToNoncontrollingInterestFromAConsolidatedVariableInterestEntity
8000
CY2021Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
50000
CY2021Q2 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
394149000
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
470000
us-gaap Profit Loss
ProfitLoss
59229000
us-gaap Profit Loss
ProfitLoss
220541000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
5984000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
45069000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
7092000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
6918000
us-gaap Share Based Compensation
ShareBasedCompensation
2304000
us-gaap Share Based Compensation
ShareBasedCompensation
921000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
931000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
4472000
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-68011000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-709000
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
346000
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
0
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
177137000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
168721000
us-gaap Payments To Acquire Longterm Investments
PaymentsToAcquireLongtermInvestments
58726000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
394149000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
38026000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
142636000
inva Sale Of Equity Investments Managed By Isp Fund Lp
SaleOfEquityInvestmentsManagedByIspFundLp
24281000
inva Sale Of Equity Investments Managed By Isp Fund Lp
SaleOfEquityInvestmentsManagedByIspFundLp
18545000
inva Purchase And Sale Of Other Investments Managed By Isp Fund Lp
PurchaseAndSaleOfOtherInvestmentsManagedByIspFundLp
96255000
inva Purchase And Sale Of Other Investments Managed By Isp Fund Lp
PurchaseAndSaleOfOtherInvestmentsManagedByIspFundLp
-234091000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
22000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
0
us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
23070000
us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
0
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-145678000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
63627000
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
16054000
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
41446000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
60000
us-gaap Repayments Of Unsecured Debt
RepaymentsOfUnsecuredDebt
165131000
us-gaap Repayments Of Unsecured Debt
RepaymentsOfUnsecuredDebt
0
inva Purchases Of Capped Call Options Associated With Convertible Senior Notes
PurchasesOfCappedCallOptionsAssociatedWithConvertibleSeniorNotes
21037000
inva Purchases Of Capped Call Options Associated With Convertible Senior Notes
PurchasesOfCappedCallOptionsAssociatedWithConvertibleSeniorNotes
0
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
252536000
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
0
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
50596000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-435570000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
82055000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-203222000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
201525000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
246487000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
283580000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
43265000
us-gaap Interest Paid Net
InterestPaidNet
5411000
us-gaap Interest Paid Net
InterestPaidNet
4967000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
3289000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0
CY2022Q2 inva Increase In Deferred Tax Assets
IncreaseInDeferredTaxAssets
7400000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
94692000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
107096000
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.01
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:10.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Management’s Estimates</span></p><p style="text-indent:6.667%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:10.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">The preparation of unaudited condensed consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the amounts reported in the unaudited condensed consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates. Management evaluates its significant accounting policies and estimates on an ongoing basis. We base our estimates on historical experience and other relevant assumptions that we believe to be reasonable under the circumstances. These estimates also form the basis for making judgments about the carrying values of assets and liabilities when these values are not readily apparent from other sources.</span></p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:10.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Certain Risks and Concentrations</span></p><p style="text-indent:6.667%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:10.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Our financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents, marketable securities, equity and long-term investments. Although we deposit our cash with multiple financial institutions, our deposits, at times, may exceed federally insured limits.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
939000
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
88948000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
16712000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
183071000
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.01
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.24
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.93
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.05
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.90
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.24
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.73
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
106000
CY2022Q2 inva Decrease To Accumulated Deficit
DecreaseToAccumulatedDeficit
37200000
CY2022Q2 inva Reduction To Additional Paid In Capital
ReductionToAdditionalPaidInCapital
65400000
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
4593000
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
90111000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
22935000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
185438000
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
69643000
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
88423000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
69594000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
94858000
CY2022Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
39000
CY2021Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
27000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
77000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
49000
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
95653000
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
100639000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
921000
us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
7700000
CY2022Q2 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
69500000
CY2022Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
35500000
CY2022Q2 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
105000000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
0
CY2022Q2 inva Accrued Manufacturing Liability
AccruedManufacturingLiability
4621000
CY2021Q4 inva Accrued Manufacturing Liability
AccruedManufacturingLiability
0
CY2022Q2 inva Accrued Clinical Liability
AccruedClinicalLiability
994000
CY2021Q4 inva Accrued Clinical Liability
AccruedClinicalLiability
0
CY2022Q2 inva Accrued Research Liability
AccruedResearchLiability
330000
CY2021Q4 inva Accrued Research Liability
AccruedResearchLiability
0
CY2022Q2 inva Accrued Professional Services
AccruedProfessionalServices
3829000
CY2021Q4 inva Accrued Professional Services
AccruedProfessionalServices
894000
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
687000
CY2022Q2 inva Liabilities For Unsettled Security Transactions
LiabilitiesForUnsettledSecurityTransactions
6328000
CY2021Q4 inva Liabilities For Unsettled Security Transactions
LiabilitiesForUnsettledSecurityTransactions
0
CY2022Q2 us-gaap Other Liabilities
OtherLiabilities
355000
CY2021Q4 us-gaap Other Liabilities
OtherLiabilities
9000
CY2022Q2 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
17144000
CY2021Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
1009000
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1350000
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
470000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2304000
CY2022Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
549704000
CY2021Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
433484000
CY2022Q2 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
10454000
CY2021Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
38831000
CY2022Q2 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
539250000
CY2021Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
394653000
CY2022Q2 us-gaap Debt Current
DebtCurrent
96072000
CY2021Q4 us-gaap Debt Current
DebtCurrent
0
CY2022Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
443178000
CY2021Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
394653000
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
0
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
96204000
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
0
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
192500000
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
0
CY2022Q2 inva Long Term Debt Maturity After Year Four
LongTermDebtMaturityAfterYearFour
261000000
CY2022Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
549704000
CY2022Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3545000
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
97000
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
687000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
106000
CY2022Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
3091000
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
0
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
3778000
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
106000
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-900000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
6000000.0
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
25300000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
45100000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.043
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.186

Files In Submission

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0000950170-22-013224.txt Edgar Link pending
0000950170-22-013224-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
inva-20220630.htm Edgar Link pending
inva-20220630.xsd Edgar Link pending
inva-20220630_cal.xml Edgar Link unprocessable
inva-20220630_def.xml Edgar Link unprocessable
inva-20220630_htm.xml Edgar Link completed
inva-20220630_lab.xml Edgar Link unprocessable
inva-20220630_pre.xml Edgar Link unprocessable
inva-ex31_1.htm Edgar Link pending
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