Innoviva, Inc.

Equity and Long-Term Investments We invest from time to time in equity and debt securities of private or public companies.

SEC original ↗Innoviva, Inc. — 10-Q Quarterly report10-QAug 5, 2026

If the fair value option is applied to an investment that would otherwise be accounted for under the equity method, we apply it to all our financial interests in the same entity (equity and debt, including guarantees) that are eligible items.

SEC original ↗Innoviva, Inc. — 10-Q Quarterly report10-QAug 5, 2026

12 Recently Adopted Accounting Pronouncements In November 2024, Financial Accounting Standards Board ( FASB ) issued Accounting Standards Update ( ASU ) 2024-04, Debt Debt with Conversion and Other Options (Subtopic 470-20) , which clarifies the assessment of whether a transaction should be accounted for as an induced conversion or extinguishment of convertible debt when changes are made to conversion features as part of an offer to settle the instrument.

SEC original ↗Innoviva, Inc. — 10-Q Quarterly report10-QAug 5, 2026

Dilutive potential common stock equivalents include the assumed exercise, vesting and issuance of employee stock awards using the treasury stock method, as well as common stock issuable upon assumed conversion of our convertible senior notes due 2025 (the 2025 Notes ) up until its maturity date on August 15, 2025, and our convertible senior notes due 2028 (the 2028 Notes ) using the if-converted method.

SEC original ↗Innoviva, Inc. — 10-Q Quarterly report10-QAug 5, 2026

Zoliflodacin NDA accepted by FDA with Priority Review; PDUFA date set for December 15, 2025 BURLINGAME, Calif.

SEC original ↗Innoviva, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

(NASDAQ: INVA) (“Innoviva” or the “Company”), a diversified holding company with a core royalties portfolio, a leading critical care and infectious disease platform known as Innoviva Specialty Therapeutics (“IST”), and a portfolio of strategic investments in healthcare assets, today reported financial results for the second quarter ended June 30, 2025, and highlighted select corporate progress and achievements.

SEC original ↗Innoviva, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

“The FDA’s acceptance of the zoliflodacin NDA and granting of Priority Review mark critical regulatory milestones for this important product.

SEC original ↗Innoviva, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

We are also pleased with excellent progress across our strategic healthcare asset portfolio, including Armata Pharmaceuticals’ recently announced positive Phase 2 data in Staphylococcus aureus bacteremia.

SEC original ↗Innoviva, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Food and Drug Administration (FDA) accepted the zoliflodacin New Drug Application (NDA), granted Priority Review and assigned a PDUFA target action date of December 15, 2025.

SEC original ↗Innoviva, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Such forward-looking statements involve substantial risks, uncertainties, and assumptions.

SEC original ↗Innoviva, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

These statements are based on the current estimates and assumptions of the management of Innoviva as of the date of this press release and are subject to known and unknown risks, uncertainties, changes in circumstances, assumptions and other factors that may cause the actual results of Innoviva to be materially different from those reflected in the forward-looking statements.

SEC original ↗Innoviva, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Given these uncertainties, you should not place undue reliance on these forward-looking statements.

SEC original ↗Innoviva, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Legal Proceedings 43 Item 1A.

SEC original ↗Innoviva, Inc. — 10-Q Quarterly report10-QAug 5, 2026

We generally include these milestone payments in the transaction price when they are achieved because there is considerable uncertainty in the research and development processes that trigger receipt of these payments under our agreements.

SEC original ↗Innoviva, Inc. — 10-Q Quarterly report10-QAug 5, 2026