April 10, 2017 (Shareholders Foundation) - An investigation on behalf of investors of Innoviva Inc (NASDAQ:INVA) shares over potential securities laws violations by Innoviva Inc and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Innoviva Inc (NASDAQ:INVA) concerning whether a series of statements by Innoviva Inc (NASDAQ:INVA regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Brisbane, CA based Innoviva, Inc., formerly Theravance, Inc., is engaged in the development, commercialization and financial management of bio-pharmaceuticals. Innoviva Inc reported that its annual Total Revenue rose from $8.43 million in 2014 to $133.57 million in 2016 and that its Net Loss of $168.46 million in 2014 turned into a Net Income of $59.54 million in 2016.

Shares of Innoviva Inc (NASDAQ:INVA) grew from $7.68 per share in September 2015 to as high as $14.08 per share on April 10, 2017.