Balance Sheet Components (Tables)

9 Months Ended

Sep. 30, 2025

Balance Sheet Related Disclosures [Abstract]

Inventory consisted of the following:


	September 30,		December 31,
(in thousands)	2025		2024
Raw materials	$	14,373	$	11,113
Work-in-process		18,671		20,529
Finished goods		5,319		2,083
Total inventory	$	38,363	$	33,725

Schedule of Other Accrued Liabilities

Other accrued liabilities consisted of the following:


	September 30,		December 31,
(in thousands)	2025		2024
Accrued contract manufacturing expenses	$	1,128	$	1,071
Accrued clinical and research expenses		179		611
Accrued professional services		5,683		8,682
Current portion of lease liabilities		680		1,572
Royalty obligation payable		3,434		2,951
Current portion of deferred royalty obligations		7,742		6,438
Accrued license fees and royalties		1,556		1,727
Other(1)		1,205		6,947
Total other accrued liabilities	$	21,607	$	29,999

(1) Amount as of December 31, 2024 includes $5.3 million advance payments received from our partner for inventory supply as discussed in Note 4, “License and Collaboration Arrangements”.

Schedule of Other Long-term Liabilities

Other long-term liabilities consisted of the following:


	September 30,		December 31,
(in thousands)	2025		2024
Long-term portion of deferred royalty obligation	$	56,526	$	63,096
Long-term portion of lease liabilities		905		1,179
Total other long-term liabilities	$	57,431	$	64,275

Innoviva, Inc. 10-Q