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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenue:        
Total net revenue $ 78,946 $ 64,107 $ 157,624 $ 119,290
Operating expenses:        
Research and development 559 0 559 0
General and administrative 2,596 4,347 5,159 7,362
Total operating expenses 3,155 4,347 5,718 7,362
Income from operations 75,791 59,760 151,906 111,928
Other income (expense), net 30 (8) 98 (7)
Interest income 158 1,403 1,460 2,378
Interest expense (4,561) (4,661) (9,077) (9,278)
Changes in fair values of equity investments 46,698 0 68,613 0
Income before income taxes 118,116 56,494 213,000 105,021
Income tax expense, net 19,891 10,433 35,823 18,941
Net income 98,225 46,061 177,177 86,080
Net income attributable to noncontrolling interest 21,381 8,321 34,896 14,550
Net income attributable to Innoviva stockholders $ 76,844 $ 37,740 $ 142,281 $ 71,530
Basic net income per share attributable to Innoviva stockholders $ 0.76 $ 0.37 $ 1.40 $ 0.71
Diluted net income per share attributable to Innoviva stockholders $ 0.69 $ 0.34 $ 1.27 $ 0.65
Shares used to compute Innoviva basic and diluted net income per share:        
Shares used to compute basic net income per share 101,324 101,151 101,280 101,105
Shares used to compute diluted net income per share 113,545 113,391 113,527 113,384
Royalty revenue from a related party        
Revenue:        
Total net revenue $ 68,946 $ 64,107 $ 147,624 $ 119,290
Revenue from collaborative arrangements with a related party        
Revenue:        
Total net revenue $ 10,000 $ 0 $ 10,000 $ 0