Innoviva's On A Roll…

(RTTNews) - Shares of Innoviva Inc. (INVA), which recently touched a new 52-week high of $19.82, are up 12% so far this month, slightly lagging behind the iShares NASDAQ Biotechnology Index (ETF) (IBB), which has gained 14% during the same period.

Formerly known as Theravance Inc., Innoviva's portfolio has respiratory assets partnered with Glaxo Group Limited (GSK), including Relvar/Breo Ellipta, Anoro Ellipta, and Trelegy Ellipta, which were jointly developed by Innoviva and GSK.

Relvar/Breo Ellipta is indicated for the treatment of chronic obstructive pulmonary disease (COPD) and asthma; Anoro Ellipta is used for the maintenance treatment of COPD; and Trelegy Ellipta is approved for the treatment of patients with chronic obstructive pulmonary disease (COPD).

The Company is entitled to receive royalties from GSK based on the sales of its partnered products.

Over the years, Innoviva's top line and bottom line have increased as can be seen from the numbers.

In the nine months ended September 30, 2018, the net income attributable to Innoviva stockholders was $131.29 million or $1.19 per share on net revenue of $181.15 million. The Company is slated to report financial results for the fourth quarter and year ended December 31, 2018, early next month.

INVA has traded in a range of $13.26 to $19.82 in the last 1 year. The stock closed Friday's (Jan.11) trading at $19.39, up 0.10%.