Innoviva Inc (INVA) stock closed the trading session at $15.83 on February 9, 2022. The share price of INVA surged to $17.45, gaining 10.23% in the pre-market. INVA announced the financial results for the fourth quarter of FY21, on February 9, 2022. The company also filed form 8K with the SEC to report the financial result of the operation and the financial condition of the company.
INVA Financials
On February 9, 2022, Innoviva Inc reported the financial results for the fourth quarter of the financial year 2021, which ended on December 31, 2021. The total net revenue of INVA was reported to be $107.6 million against $90.4 million in the same quarter of the financial year 2020, an increase of $17.2 million. The net income attributable to the Innoviva stockholders was $10.3 million as compared to $53.9 million in the same quarter, the previous year. The Diluted earnings per share (EPS) for the fourth quarter of 2021 was $0.14 against $0.48 in the fourth quarter of the financial year 2020.
CEO Remarks
The Chief Executive Officer (CEO) of Innoviva Inc, Pavel Raifield, said that during the fourth quarter, the company’s revenue increased by 18% YoY, showing a positive strength in the unstable environment. He added that their business has performed wonderfully last year under unforeseen conditions, bearing witness to its different growth drivers and huge diversification.
Mr. Raifield concluded that they are very much well positioned for the solid execution to guarantee a succor investor value creation.
News
On February 9, 2022, Armata Pharmaceuticals made an announcement that they have come to an agreement with Innoviva Strategic Opportunities, Inc, which is a subsidiary of Innoviva Inc, to sell the common share of ARMP at an expected price of $45 million.
The Chief Executive Officer of ARMP, Brain Varnum, said that they are thankful to Innoviva for the vote of confidence in their company and their technology.
About Innoviva Inc (INVA)
Innoviva is a holding company that incorporates respiratory assets collaborated with Glaxo Group Limited (GSK), with a growing portfolio of healthcare investments and resources in areas of huge neglected clinical need. Innoviva was founded in 1996 and is headquartered in South San Francisco, California, United States of America (USA).
