Stock-Based Compensation

3 Months Ended

Mar. 31, 2022

Share-based Payment Arrangement [Abstract]

Stock-Based Compensation

. Stock-Based Compensation

Stock- Based Compensation Expense

The following table summarizes stock-based compensation expense which included $0.3 million related to Entasis’ equity awards for the three months ended March 31, 2022:

	Three Months Ended March 31,
(In thousands)	2022		2021
General and administrative	$	788	$	451
Research and development		166		—
Total	$	954	$	451

Valuation Assumptions

Black-Scholes-Merton assumptions used in calculating the estimated value of stock options granted by Innoviva on the date of grant were as follows:

	Three Months Ended March 31,
	2022			2021
Risk-free interest rate		1.6	%	1.1 %
Expected term (in years)		6.11			6.11
Volatility		40.5	%		45.6	%
Dividend yield		0.0	%		0.0	%
Weighted-average estimated fair value of stock options granted	$	7.73		$	5.42