Innoviva, inc. (INVA)
Balance Sheet / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Dec'10
Assets
Current assets:
Cash and cash equivalents

351,981

278,096

172,946

141,952

65,151

62,417

48,615

87,226

27,138

73,336

138,417

127,634

159,808

118,016

93,194

112,945

151,778

159,180

78,746

149,579

141,186

96,800

119,575

208,052

125,275

143,510

171,892

199,243

266,070

94,849

112,235

161,096

14,310

44,778

62,736

90,658

163,333

Restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,600

14,232

-

-

-

-

-

-

-

-

-

-

-

-

-

Short-term marketable securities

31,970

72,749

124,255

107,711

127,027

52,491

6,865

20,316

29,322

55,739

29,775

7,992

10,003

32,417

55,772

40,921

16,414

28,103

127,446

79,684

109,954

143,698

143,536

126,424

245,648

321,615

334,261

243,768

192,986

153,640

161,209

134,393

185,854

196,137

202,433

193,229

146,301

Related party receivables from collaborative arrangements

82,134

79,427

69,211

67,563

58,639

83,286

65,136

70,542

55,835

70,540

51,878

61,796

43,727

46,847

36,621

35,817

27,539

26,228

16,947

13,997

10,239

10,550

4,012

3,473

865

3,181

2,489

2,233

2,217

1,064

71

94

63

223

63

32

194

Accounts receivable, net of allowances of $89 at December 31, 2013

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

3

199

450

-

-

0

-

-

-

-

-

-

-

Notes receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

140

140

-

-

100

100

200

100

85

200

531

Prepaid expenses and other current assets

822

962

383

459

702

849

513

576

950

754

439

642

880

766

534

738

975

814

615

697

1,013

1,134

748

982

6,391

4,287

4,071

3,609

5,190

4,066

3,772

3,398

3,900

3,525

3,848

4,506

5,995

Inventories

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

11,014

10,406

9,038

8,240

8,049

7,514

5,148

4,299

-

-

-

-

-

Total current assets

466,907

431,234

366,795

317,685

251,519

199,043

121,129

178,660

113,245

200,369

220,509

198,064

214,418

198,046

186,121

190,421

196,706

214,325

223,754

243,957

262,392

252,182

273,471

353,163

389,196

483,198

522,341

457,233

474,512

261,133

282,535

303,380

204,327

244,763

269,165

288,625

316,354

Marketable securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

3,932

42,856

47,752

34,349

59,831

55,374

88,333

90,314

99,342

95,194

88,962

83,208

-

-

-

-

-

Restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

833

833

833

833

833

833

833

833

833

833

893

893

893

893

893

Property and equipment, net

42

33

24

136

148

160

173

185

197

209

249

289

328

368

381

174

193

221

248

276

303

324

64

0

9,734

10,238

8,563

8,952

9,010

9,154

9,579

9,660

10,059

10,372

10,206

10,334

10,215

Equity investments

46,915

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating lease right-of-use asset

-

-

-

1,348

1,421

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Capitalized fees paid to a related party, net

135,620

139,076

142,531

145,987

149,443

152,899

156,354

159,810

163,266

166,722

170,177

173,633

177,089

180,545

184,000

187,456

190,912

194,368

197,824

201,279

204,735

208,191

211,646

194,880

137,477

124,257

40,000

30,000

-

0

-

-

-

-

-

-

-

Deferred tax assets, net

138,239

154,171

166,555

177,114

187,546

196,054

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Notes receivable, non-current

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

140

-

140

240

140

240

340

340

400

Other assets

288

312

48

37

37

37

37

37

37

37

37

37

37

37

40

58

18

18

15,805

16,574

17,337

18,101

19,947

22,385

7,963

7,355

5,946

7,372

7,682

2,268

1,894

2,101

2,308

2,514

2,721

2,928

3,340

Total assets

788,011

724,826

675,953

642,307

590,114

548,193

277,693

338,692

276,745

367,337

390,972

372,023

391,872

378,996

370,542

378,109

387,829

408,932

437,631

462,086

488,699

521,654

553,713

605,610

605,034

681,255

666,016

594,704

591,519

368,582

383,943

399,422

217,727

258,782

283,325

303,120

331,202

Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable

122

10

35

1,139

144

11

109

58

66

601

629

277

2,304

128

528

137

576

818

154

462

1,025

0

573

1,799

5,546

7,583

5,733

4,834

3,525

5,377

4,757

4,989

5,308

5,813

3,699

2,165

2,128

Payable to Theravance Biopharma, Inc.

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,056

10,000

-

0

40,000

-

-

-

0

-

-

-

-

-

-

-

Payable to a related party

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

15,000

-

-

-

-

-

-

-

-

-

-

-

-

-

Payable to Theravance Biopharma, Inc.

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

150

126

-

-

15,243

-

0

-

-

-

-

-

-

-

-

-

-

-

Accrued personnel-related expenses

274

647

509

371

325

470

1,550

695

537

1,721

1,647

1,203

998

2,361

1,625

1,126

913

1,659

1,392

1,003

1,063

1,959

1,203

1,023

13,829

10,881

8,362

6,001

5,128

9,002

7,714

5,669

4,884

9,643

7,123

5,154

8,617

Accrued clinical and development expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

9,890

9,714

10,599

9,222

6,054

6,550

6,761

4,898

6,547

6,956

5,075

2,850

2,801

Accrued interest payable

1,668

4,152

1,773

4,262

1,775

4,264

1,775

5,115

2,545

5,920

3,566

7,103

6,400

7,828

6,606

7,823

6,562

7,911

6,390

7,925

6,195

7,551

19,467

11,013

1,273

2,800

1,273

4,912

2,198

2,372

1,078

2,372

1,078

2,372

1,078

2,372

2,372

Other accrued liabilities

734

562

1,012

1,386

1,258

955

865

909

918

1,500

1,157

2,460

3,183

1,095

1,729

1,392

1,687

2,218

2,457

1,789

1,686

2,108

3,773

4,834

4,792

4,137

3,093

4,703

2,678

2,072

1,835

2,077

1,974

1,946

1,843

1,935

2,008

Operating lease liability, current portion

-

-

-

317

308

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Current portion of long-term debt

-

-

-

-

-

-

0

0

0

25,000

25,000

15,181

6,703

7,752

3,551

3,266

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Note payable and capital lease, current

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

13

69

109

162

206

Deferred revenue, current

-

-

-

-

-

-

-

-

-

-

885

885

885

885

885

885

885

885

885

885

885

1,082

1,082

1,082

8,814

9,289

9,601

8,974

9,881

4,593

4,945

5,771

5,771

18,697

20,887

20,553

21,922

Total current liabilities

2,798

5,371

3,329

7,475

3,810

5,700

4,299

6,777

4,066

34,742

32,884

27,109

20,473

20,049

14,924

14,629

10,623

13,491

11,278

12,214

10,980

13,756

36,098

49,994

44,144

84,404

38,661

38,646

29,464

29,966

27,090

25,776

25,575

45,496

39,814

35,191

40,054

Long-term debt, net of discount and issuance costs

379,152

377,120

388,644

386,675

384,744

382,855

381,002

486,527

484,591

574,362

578,449

-

-

708,341

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating lease liability, net of current portion

-

-

-

1,157

1,238

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Convertible subordinated notes, due 2023, net of issuance costs

-

-

-

-

-

-

-

-

-

-

-

237,858

237,724

-

241,535

241,408

251,124

250,992

255,109

255,109

255,109

255,109

255,109

287,500

287,500

287,500

287,500

459,960

460,000

172,500

172,500

172,500

172,500

172,500

172,500

172,500

172,500

Non-recourse notes, due 2029, net of issuance costs

-

-

-

-

-

-

-

-

-

-

-

400,854

464,601

-

477,914

480,879

483,389

482,139

488,976

483,363

476,954

470,527

450,000

450,000

-

0

-

-

-

-

-

-

-

-

-

-

-

Deferred rent

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

100

102

89

-

54

13

4,891

4,774

4,658

4,698

4,872

5,074

5,275

5,477

5,678

5,821

5,728

5,518

3,574

Other long-term liabilities

192

219

217

298

379

586

668

752

835

940

1,049

1,159

1,267

1,383

1,598

1,639

1,784

1,856

1,847

1,748

1,947

1,823

1,530

1,300

-

0

-

-

-

-

-

-

-

-

-

-

-

Note payable and capital lease, non-current

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

69

Deferred revenue

-

-

-

-

-

-

-

-

-

-

1,551

1,772

1,993

2,214

2,435

2,656

2,878

3,099

3,320

3,542

3,763

3,788

4,058

4,329

5,247

5,455

5,148

5,753

5,672

6,014

5,790

6,413

7,843

122,017

124,435

127,393

137,425

Commitments and contingencies (Note 7)

-

-

-

-

-

-

0

0

0

-

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

-

0

0

0

0

0

0

0

0

0

0

0

Stockholders' equity:
Preferred stock: $0.01 par value, 230 shares authorized, no shares issued and outstanding

0

0

0

0

0

0

0

0

0

-

0

0

0

0

0

0

0

0

0

0

0

0

-

-

-

-

-

-

-

0

-

-

-

0

-

-

0

Common stock: $0.01 par value, 200,000 shares authorized, 101,320 and 101,288 issued and outstanding as of March 31, 2020 and December 31, 2019, respectively

1,013

1,013

1,013

1,013

1,012

1,011

1,011

1,015

1,014

1,019

1,080

1,094

1,093

1,085

1,098

1,116

1,132

1,149

1,176

1,172

1,169

1,164

1,154

1,133

1,125

1,115

1,105

1,008

993

-

979

969

865

-

-

-

-

Treasury stock: 150 shares as of December 31, 2017

-

-

-

-

-

-

3,263

3,263

3,263

3,263

3,263

3,263

3,263

3,263

3,263

3,263

3,263

3,263

3,263

3,263

3,263

3,263

3,263

-

-

0

-

-

-

-

-

-

-

-

-

-

-

Additional paid-in capital

1,259,464

1,258,859

1,258,370

1,257,799

1,257,125

1,256,267

1,258,350

1,259,443

1,257,880

1,258,151

1,336,358

1,286,340

1,284,031

1,282,077

1,292,655

1,312,434

1,328,155

1,351,898

1,375,805

1,400,253

1,426,297

1,452,504

1,466,911

1,444,105

1,834,862

1,803,048

1,784,016

1,492,945

1,462,288

1,488,447

1,475,371

1,456,882

1,236,641

1,228,037

1,218,934

1,210,006

1,177,359

Accumulated other comprehensive income

33

27

25

33

10

-3

-3

-10

-22

-18

-3

0

-1

1

8

6

-1

-2

11

-10

-12

-87

-197

3,706

171

162

202

-15

92

99

116

-109

-9

16

16

-8

33

Accumulated deficit

-880,967

-946,404

-992,353

-1,032,162

-1,069,902

-1,103,692

-1,367,452

-1,414,541

-1,469,167

-1,498,748

-1,557,133

-1,580,900

-1,616,046

-1,632,891

-1,658,362

-1,673,395

-1,687,992

-1,692,427

-1,696,728

-1,692,144

-1,684,334

-1,673,667

-1,657,741

-1,636,470

-1,572,906

-1,505,203

-1,455,274

-1,408,291

-1,371,862

-1,334,502

-1,303,178

-1,268,486

-1,231,366

-1,315,960

-1,278,953

-1,248,328

-1,200,616

Total Innoviva stockholders' equity

379,543

313,495

267,055

226,683

188,245

153,583

-111,357

-157,356

-213,558

-242,859

-222,961

-296,729

-334,186

-352,991

-367,864

-363,102

-361,969

-342,645

-322,999

-293,992

-260,143

-223,349

-193,136

-187,526

263,252

299,122

330,049

85,647

91,511

155,028

173,288

189,256

6,131

-87,052

-59,152

-

-22,420

Noncontrolling interest

26,326

28,621

16,708

20,019

11,698

5,469

3,081

1,992

811

152

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total stockholders' equity

405,869

342,116

283,763

246,702

199,943

159,052

-108,276

-155,364

-212,747

-242,707

-

-

-

-352,991

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-37,482

-

Total liabilities and stockholders' equity

788,011

724,826

675,953

642,307

590,114

548,193

277,693

338,692

276,745

367,337

390,972

372,023

391,872

378,996

370,542

378,109

387,829

408,932

437,631

462,086

488,699

521,654

553,713

605,610

605,034

681,255

666,016

594,704

591,519

368,582

383,943

399,422

217,727

258,782

283,325

303,120

331,202