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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenue:        
Total revenue $ 67,257 $ 97,862 $ 265,536 $ 284,186
Expenses:        
Selling, general and administrative 27,810 2,860 46,084 13,074
Research and development 11,725 449 31,447 536
Amortization of intangible assets 1,511 0 1,511 0
Gain on sale of Theravance Respiratory Company, LLC ("TRC") (266,696) 0 (266,696) 0
Loss on extinguishment of debt 0 0 20,662 0
Changes in fair values of equity and long-term investments, net (130) (33,613) 67,881 (133,973)
Interest and dividend income (2,135) (453) (3,181) (503)
Interest expense 5,096 4,790 11,761 14,229
Other expense (income), net (28) 652 750 2,036
Total expenses (219,167) (25,315) (86,101) (104,601)
Income before income taxes 286,424 123,177 351,637 388,787
Income tax expense net 57,077 20,531 63,061 65,600
Net income (loss) 229,347 102,646 288,576 323,187
Net income (loss) attributable to noncontrolling interests (36,176) 30,208 6,341 67,678
Net income attributable to Innoviva stockholders $ 265,523 $ 72,438 $ 282,235 $ 255,509
Basic net income per share attributable to Innoviva stockholders $ 3.81 $ 1.04 $ 4.05 $ 2.96
Diluted net income per share attributable to Innoviva stockholders $ 2.80 $ 0.90 $ 3.07 $ 2.63
Shares used to compute Innoviva basic and diluted net income per share:        
Shares used to compute basic net income per share 69,731 69,458 69,640 86,298
Shares used to compute diluted net income per share 95,830 81,699 95,072 98,536
Royalty revenue from a related party        
Revenue:        
Total revenue $ 62,150 $ 97,862 $ 260,429 $ 284,186
Net product sales        
Revenue:        
Total revenue 5,107 0 5,107 0
Expenses:        
Cost of products sold (inclusive of amortization of inventory fair value adjustments, excluding depreciation and amortization of intangible assets) $ 3,680 $ 0 $ 3,680 $ 0