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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Revenue:    
Total revenue $ 76,372 $ 90,059
Expenses:    
Selling, general and administrative 19,735 6,492
Research and development 12,588 5,838
Amortization of acquired intangible assets 3,805 0
Loss on extinguishment of debt 0 20,662
Changes in fair values of equity method investments, net (15,817) 11,950
Changes in fair values of other equity and long-term investments, net 2,164 (2,539)
Interest and dividend income (3,365) (322)
Interest expense 4,427 3,010
Other expense, net 1,346 250
Total expenses 35,232 45,341
Income before income taxes 41,140 44,718
Income tax expense, net 6,275 6,860
Net income 34,865 37,858
Net income attributable to noncontrolling interests 0 22,085
Net income attributable to Innoviva stockholders $ 34,865 $ 15,773
Basic net income per share attributable to Innoviva stockholders $ 0.51 $ 0.23
Diluted net income per share attributable to Innoviva stockholders $ 0.42 $ 0.20
Shares used to compute Innoviva basic and diluted net income per share:    
Shares used to compute basic net income per share 67,786 69,544
Shares used to compute diluted net income per share 89,788 93,730
Royalty revenue    
Revenue:    
Total revenue $ 56,858 $ 90,059
Net product sales    
Revenue:    
Total revenue 11,514 0
Expenses:    
Cost of products sold (inclusive of amortization of inventory fair value adjustments, excluding depreciation and amortization of intangible assets) 8,749 0
License revenue    
Revenue:    
Total revenue 8,000 0
License    
Expenses:    
Cost of license revenue $ 1,600 $ 0