Consolidated Entities and Acquisitions (Tables)

3 Months Ended

Mar. 31, 2023

Consolidated Entities

Pro Forma Information

The following table presents certain unaudited pro-forma financial information for the three months ended March 31, 2022 as if the consolidation of Entasis and La Jolla occurred on January 1, 2021. The unaudited pro forma financial information is presented for informational purposes only, and is not indicative of the results of operations that would have been achieved if the acquisitions had taken place on January 1, 2021, or of results that may occur in the future. The unaudited pro forma financial information combines the historical results of the Entasis and La Jolla with the Company’s consolidated historical results and includes certain adjustments including, but not limited to, fair value adjustments to equity investments in Entasis’ common stock and warrants, fair value adjustments to inventory, amortization of intangible assets, and interest expense on deferred royalty obligations and acquisition-related costs.

	Three Months Ended March 31,
(In thousands)	2022
Revenue	$	100,483
Net income	$	32,576
Net income attributable to Innoviva stockholders	$	13,555

Entasis Therapeutics Holdings Inc

Consolidated Entities

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table represents the adjusted fair values of the assets acquired and liabilities assumed by us in the transaction:

(In thousands)	February 17, 2022
Cash and cash equivalents	$	23,070
Prepaid expenses		5,554
Other current assets		1,959
Property and equipment, net		185
Right-of-use assets		959
Goodwill		11,493
Intangible assets		106,700
Other assets		302
Total assets acquired	$	150,222
Accounts payable	$	1,583
Accrued personnel-related expenses		1,058
Other current liabilities		5,096
Deferred tax liabilities		7,769
Total liabilities assumed	$	15,506
Total assets acquired, net	$	134,716

La Jolla Pharmaceutical Company

Consolidated Entities

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary allocation of the fair values assigned to the assets acquired and liabilities assumed as of the date of the acquisition:

(In thousands)	August 22, 2022
Cash and cash equivalents	$	47,415
Short-term marketable securities		471
Accounts receivable		5,876
Inventory		66,200
Prepaid expenses		1,261
Other current assets		907
Property and equipment, net		13
Right-of-use assets		226
Goodwill		16,453
Intangible assets		151,000
Other assets		710
Total assets acquired	$	290,532
Accounts payable	$	1,237
Deferred revenue, current		2,849
Other accrued liabilities		11,362
Other long-term liabilities		65,944
Deferred tax liabilities		2,581
Total liabilities assumed	$	83,973
Total assets acquired, net	$	206,559

Theravance Respiratory Company, LLC

Consolidated Entities

Schedule of Income Statements of VIE

The summarized financial information of TRC for the three months ended March 31, 2022 are presented as follows:

	Three Months Ended March 31,
(In thousands)	2022
Royalty revenue	$	29,309
Operating expenses		198
Income from operations		29,111
Income tax expense, net		1
Changes in fair values of equity and long-term    investments		429
Net income	$	29,541