Innoviva, Inc. · NASDAQ:INVA
Innoviva — Investor Presentation (May 2024)
28 slides from Innoviva's investor presentation, May 13, 2024
Slide 1: Corporate Presentation May 2024
Corporate Presentation May 2024
Slide 2: Forward-looking statements
Forward - looking statements The information in this presentation contains forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Securities Act”). Such forward looking statement
Slide 3: Innoviva at a glance
Innoviva at a glance 3 1. Strongly cashflow - positive, durable core royalty business stemming from widely used respiratory products 2. Commercial stage, growth - oriented critical care and infectious disease platform supported by late - stage pipeline 3. Diversified, valuable portfolio of healthcar
Slide 4: Innoviva has a valuable portfolio of royalties, therapeutics platform, and other healthcare assets
Innoviva has a valuable portfolio of royalties, a robust operating therapeutics platform, and other healthcare assets Royalty assets Innoviva Specialty Therapeutics assets Strategic healthcare assets Durable royalty stream from two widely used, differentiated respiratory products marketed by GSK REL
Slide 5: Royalty Assets
Royalty Assets 5 Our royalty assets, composed of widely used respiratory therapies commercialized by GSK, have produced durable, resilient revenues that are de - risked via geographic and drug class diversification 1. According to analyst consensus projections on GSK forecast website accessed April
Slide 6: Relvar/Breo and Anoro are protected by an IP estate with meaningful remaining exclusivity
Relvar/Breo and Anoro are protected by an IP estate with meaningful remaining exclusivity 6 1. US patent 7,439,393. Original expiration 9/11/2022, granted additional exclusivity to 2025 through 35 USC § 156 2. US patents 9,750,726 and 11,090,294 3. US patent 8,746,242. Original expiration 10/11/2030
Slide 7: Innoviva Specialty Therapeutics (IST) highlights
Innoviva Specialty Therapeutics (“IST”) highlights IST is a robust, rapidly growing critical care and infectious disease business uniquely positioned to unlock value Synergistic “infectious disease plus” portfolio with 3 approved products and 1 Pre - NDA program Commercial platform anchored by an ex
Slide 8: IST has a diversified portfolio of high growth hospital and critical care products
IST has a diversified portfolio of high growth hospital and critical care products addressing sizeable markets with significant unmet needs Zoliflodacin Indication LTM net sales and license revenue Selected future growth drivers Vasoconstrictor to increase blood pressure in adults with septic or oth
Slide 9: GIAPREZA: Rapid-acting vasoconstrictor for shock patients
GIAPREZA: Rapid - acting vasoconstrictor for shock patients Indications and usage Key differentiators Unmet need • GIAPREZA was approved in Dec 2017 to increase blood pressure in adults with septic or other distributive shock, an indication with persistently high mortality rates • GIAPREZA mimics th
Slide 10: XERAVA: Broad-spectrum antibiotic addressing ESBL strains and carbapenem resistance
XERAVA: Broad - spectrum antibiotic with unique strengths to address rising ESBL strains and carbapenem resistance Indications and usage Key differentiators Unmet need • XERAVA is a tetracycline - class antibiotic approved in August 2018 for the treatment of complicated intra - abdominal infections
Slide 11: XACDURO: First pathogen-targeted therapy for Acinetobacter infections
XACDURO: First pathogen - targeted therapy approved for life threatening Acinetobacter infections Indications and usage Key differentiators Unmet need • XACDURO is the first pathogen - targeted therapy approved for the treatment of hospital - acquired and ventilator - associated bacterial pneumonia
Slide 12: Zoliflodacin: Potential effective treatment for ceftriaxone-resistant gonorrhea
Zoliflodacin: Potential to be the only effective treatment for ceftriaxone - resistant gonorrhea, pending approval Zoliflodacin About zoliflodacin Zoliflodacin is a novel orally administered antibiotic in development for the treatment of uncomplicated gonorrhea. Gonorrhea is one of the most commonly
Slide 13: Zoliflodacin could address near-term and long-term unmet needs as single dose oral therapy
Zoliflodacin, if approved, could address both near - term and long - term unmet needs as a single dose oral therapy Gonorrhea is a large and growing market with ~1M treated patients per year in the U.S. (700 - 800K reported and 1.6m estimated by U.S. CDC) 1 Current U.S. standard of care is a 500mg i
Slide 14: Minority investments in high growth areas
Minority investments in high growth areas • Strategic equity and convertible debt investments in high - potential healthcare companies with significant promise ISP Fund providing further exposure to healthcare • $300M initially committed to ISP Fund in Dec 2020 primarily to public equity investments
Slide 15: We have actively deployed capital to maximize shareholder value
We have actively deployed capital to maximize shareholder value 15 Return of capital to shareholders Repurchased GSK’s 32% equity stake for $392M and completed $100M share repurchase program Opportunistic asset monetization Monetized Innoviva’s share of TRELEGY® royalties for $282M upfront, addition
Slide 16: Innoviva has robust financials with multiple sources of value
Innoviva has robust financials with multiple sources of value 16 $254M Cash and Receivables (as of March 31, 2024) Equity and Long - term Investments (as of March 31, 2024) LTM Product Sales and License Revenue $71M $628M $454M Debt (as of March 31, 2024) LTM Anoro & Breo Royalty Revenue $254M Note:
Slide 17: Q1 2024 demonstrated growth across the portfolio
Q1 2024 demonstrated growth across the portfolio Net product sales and license revenue Royalty income RELVAR ® / BREO ® ELLIPTA ® ANORO ® ELLIPTA ® Q1 2023 Q1 2023 Q1 2024 Q1 2024 YoY growth YoY growth 17 “Our first quarter financial results continue to demonstrate the successful transformation for
Slide 18: Innoviva's team has world-class healthcare experience: Management
Innoviva’s team has world - class healthcare experience: Management 18 Innoviva Team Superior capabilities and network Unique and complementary skill sets Strong value creation focus Proven track record of success Pavel Raifeld Chief Executive Officer Steve Basso Chief Financial Officer Marianne Zhe
Slide 19: Innoviva's team has world-class healthcare experience: Board of directors
Innoviva’s team has world - class healthcare experience: Board of directors 19 Innoviva Team Superior capabilities and network Unique and complementary skill sets Strong value creation focus Proven track record of success Mark DiPaolo , Esq., Chairperson Jules Haimovitz Odysseas Kostas, M.D. Sarah J
Slide 20: Thank you
Thank you Investor contact: Innoviva@argotpartners.com Media contact: David.Patti@inva.com
Slide 21: Appendices
Appendices
Slide 22: Key events in the history of Innoviva
Key events in the history of Innoviva 2020 May 2022 July 2022 Nov 2023 First royalty product (Breo) launches in U.S. Announced successful Phase III trial results for novel oral gonorrhea treatment Innoviva’s initial infectious disease investments, including private placements in Entasis Therapeutics
Slide 23: Relvar / Breo detail
23 Relvar / Breo detail: First once - daily inhaled corticosteroid / long - acting beta - agonist for asthma and chronic obstructive pulmonary disease Net global sales ($B) RELVAR ® / BREO ® ELLIPTA ® (fluticasone furoate 100 mcg and vilanterol 25 mcg inhalation powder) Indications (US) • Long - ter
Slide 24: Anoro detail
24 Anoro detail: Best - in - class long - acting beta - agonist / long - acting muscarinic antagonist for COPD 1. Projections per analyst consensus on GSK forecast website accessed February 28, 2024; analyst forecasts updated on January 25 , 2 024; GBP converted to USD using January 25 exchange rate
Slide 25: XACDURO: Significant ex-U.S. value as many countries have high CRAB prevalence
XACDURO: Significant ex - U.S. value as many countries have high CRAB prevalence Global percentages of carbapenem resistance and incidence of A. baumannii Carbapenem resistance 1,2 CRAB incidence 3,4,5 United States 45% ~18,400 Latin/South America 86% >80,000 Europe/Russia 78% 45,000 - 60,000 SE Asi
Slide 26: Top line summary: positive zoliflodacin Phase 3 results
Top line summary: positive zoliflodacin Phase 3 results • An estimated 82 million patients contract gonorrhea each year 1 , with rising rates of resistance to standard of care regimens in many countries 2 . • We, in collaboration with GARDP, conducted a global pivotal phase 3 trial to evaluate the e
Slide 27: Armata is an innovator in anti-infectives addressing significant unmet medical need
Armata is an innovator in anti - infectives addressing significant unmet medical need Armata is a clinical - stage biotechnology company focused on the development of precisely targeted bacteriophage therapeutics for the treatment of antibiotic - resistant and difficult - to - treat bacterial infect
Slide 28: Additional minority portfolio investments
Additional minority portfolio investments 28 Abbreviations: PAF – Paroxysmal atrial fibrillation; IO - Immuno - oncology InCarda focuses on cardiovascular diseases; its lead drug is in late - stage development for PAF ImaginAb is a leader in radio - pharmaceutical imaging with a differentiated solut