Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of stock-based compensation expense

The following table summarizes stock-based compensation expense:


		Three Months Ended March 31,
(In thousands)		2025				2024
Selling, general and administrative		$	2,028			$	1,358
Research and development			119				97
Total		$	2,147			$	1,455

Summary of weighted-average assumptions used to calculate estimated value of stock options

Black-Scholes-Merton assumptions used in calculating the estimated value of stock options granted by Innoviva on the date of grant were as follows:


		Three Months Ended March 31,
		2025		2024
Risk-free interest rate		4.1% - 4.4%		4.1% - 4.3%
Expected term (in years)		6.08 - 6.14		5.90 - 6.15
Volatility		34.3% - 34.9%		36.7% - 36.8%
Dividend yield		—%		—%

Weighted-average estimated fair value of stock options granted		$7.17 - $7.92		$4.97 - $6.93