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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenue:        
Total revenue $ 80,992 $ 108,220 $ 157,364 $ 198,279
Expenses:        
Selling, general and administrative 23,542 11,782 43,277 18,274
Research and development 14,989 13,884 27,577 19,722
Amortization of acquired intangible assets 4,958 0 8,763 0
Loss on extinguishment of debt 0 0 0 20,662
Changes in fair values of equity method investments, net 19,911 42,823 4,094 54,773
Changes in fair values of other equity and long-term investments, net 83 15,777 2,247 13,238
Interest and dividend income (3,553) (724) (6,918) (1,046)
Interest expense 4,382 3,655 8,809 6,665
Other expense, net 1,896 528 3,242 778
Total expenses 75,187 87,725 110,419 133,066
Income before income taxes 5,805 20,495 46,945 65,213
Income tax expense (benefit), net 4,525 (876) 10,800 5,984
Net income 1,280 21,371 36,145 59,229
Net income attributable to noncontrolling interests 0 20,432 0 42,517
Net income attributable to Innoviva stockholders $ 1,280 $ 939 $ 36,145 $ 16,712
Basic net income per share attributable to Innoviva stockholders $ 0.02 $ 0.01 $ 0.54 $ 0.24
Diluted net income per share attributable to Innoviva stockholders $ 0.02 $ 0.05 $ 0.46 $ 0.24
Shares used to compute Innoviva basic and diluted net income per share:        
Shares used to compute basic net income per share 65,341 69,643 66,557 69,594
Shares used to compute diluted net income per share 65,489 95,653 88,175 94,692
Royalty revenue        
Revenue:        
Total revenue $ 62,265 $ 108,220 $ 119,123 $ 198,279
Net product sales        
Revenue:        
Total revenue 15,727 0 27,241 0
Expenses:        
Cost of products sold (inclusive of amortization of inventory fair value adjustments, excluding depreciation and amortization of intangible assets) 8,979 0 17,728 0
License revenue        
Revenue:        
Total revenue 3,000 0 11,000 0
License        
Expenses:        
Cost of license revenue $ 0 $ 0 $ 1,600 $ 0