Innoviva posts second-quarter 2026 results, adds Dr. Reddy's licensing deal and new Nortiva Bio unit

Innoviva reported second-quarter 2026 financial results on August 5, 2026, disclosing total revenue of $119.6 million, up 19% year over year from $100.3 million in the second quarter of 2025.¹ Net product sales for the Innoviva Specialty Therapeutics (IST) platform reached $51.8 million, a 46% increase from $35.5 million in the second quarter of 2025, made up of $36.6 million in U.S. sales and $15.2 million from outside the U.S.¹

On the pipeline and partnership front, IST signed an exclusive distribution and licensing agreement with Dr. Reddy's Laboratories Ltd. covering development and commercialization of XACDURO in South and Central America, the Caribbean, Russia, and Commonwealth of Independent States countries.¹

Innoviva also disclosed a new corporate structure for its drug delivery ambitions. The company launched Nortiva Bio, a wholly owned subsidiary, to advance its proprietary LYNX long-acting oral drug delivery platform.¹ The LYNX platform aims to convert daily oral medicines into less frequent regimens, such as once-weekly or once-monthly dosing, with the stated goals of improving patient adherence and stabilizing drug exposure.¹ Nortiva is advancing a lead once-monthly oral therapy program with support from the Gates Foundation and is building an external partnering pipeline for long-acting oral versions of branded and generic drugs.¹

On guidance, CEO Pavel Raifeld said the company remains on track to achieve at least $150 million in IST U.S. net product sales for 2026.¹

Cash and cash equivalents stood at $570.4 million as of the reporting date.¹ The company also noted a $161.0 million net unfavorable change in the fair value of equity and long-term investments, driven primarily by a lower share price in Armata Pharmaceuticals.¹