Innoviva is acquiring antibacterial drug developer Entasis Therapeutics for $113 million. The company will buy 40% of the remaining outstanding shares of Entasis, which it does not already own, for $2.2 per share. The transaction is expected to close in Q3 2022.

Innoviva's GAAP net profit for 3 months of 2022 was $37.858 million, down 2.9 times from $109.695 million in the previous year. Revenues increased by 5.3% to $90.059 million from $85.518 million a year earlier.

Innoviva's GAAP net income for 2021 was $368.837 million, up 25.5% from $293.814 million in the previous year. Revenue increased 16.4% to $391.866 million from $336.794 million a year earlier.

Innoviva's GAAP net income for 9M 2021 amounted to $323.187 million, an increase of 47.7% compared to $218.798 million in the previous year. Revenues increased by 15.4% to $284.146 million from $246.318 million a year earlier.