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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenue:        
Total net revenue $ 88,694 $ 65,755 $ 246,318 $ 185,045
Operating expenses:        
Research and development 1,010 0 1,569 0
General and administrative 3,254 4,962 8,413 12,324
Total operating expenses 4,264 4,962 9,982 12,324
Income from operations 84,430 60,793 236,336 172,721
Other income (expense), net (13) (115) 85 (122)
Interest income 41 1,624 1,501 4,002
Interest expense (4,603) (4,693) (13,680) (13,971)
Changes in fair values of equity investments (29,368) 0 39,245 0
Income before income taxes 50,487 57,609 263,487 162,630
Income tax expense, net 8,866 10,558 44,689 29,499
Net income 41,621 47,051 218,798 133,131
Net income attributable to noncontrolling interest 13,403 7,242 48,299 21,792
Net income attributable to Innoviva stockholders $ 28,218 $ 39,809 $ 170,499 $ 111,339
Basic net income per share attributable to Innoviva stockholders $ 0.28 $ 0.39 $ 1.68 $ 1.10
Diluted net income per share attributable to Innoviva stockholders $ 0.26 $ 0.36 $ 1.53 $ 1.01
Shares used to compute Innoviva basic and diluted net income per share:        
Shares used to compute basic net income per share 101,358 101,191 101,306 101,134
Shares used to compute diluted net income per share 113,572 113,415 113,543 113,394
Royalty revenue from a related party        
Revenue:        
Total net revenue $ 88,694 $ 65,755 $ 236,318 $ 185,045
Revenue from collaborative arrangements with a related party        
Revenue:        
Total net revenue $ 0 $ 0 $ 10,000 $ 0