Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of stock-based compensation expense

The following table summarizes stock-based compensation expense:

	Three Months Ended March 31,
(In thousands)	2024		2023
Selling, general and administrative	$	1,358	$	1,152
Research and development		97		446
Total	$	1,455	$	1,598

Summary of weighted-average assumptions used to calculate estimated value of stock options

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,
	2024	2023
Risk-free interest rate	4.1% - 4.3%	3.7% - 4.0%
Expected term (in years)	5.90 - 6.15	5.16 - 6.11
Volatility	36.7% - 36.8%	38.1% - 38.5%
Dividend yield	0.0%	0.0%
Weighted-average estimated fair value of stock options granted	$4.97 - $6.93	$5.40 - $5.42