Alexander J. Denner - Mar 4, 2025 Form 4 Insider Report for Innoviva, Inc. (INVA)

Role
10%+ Owner
Signature
SARISSA CAPITAL MANAGEMENT LP; By: /s/ Mark DiPaolo, Senior Partner, General Counsel
Stock symbol
INVA
Transactions as of
Mar 4, 2025
Transactions value $
-$28,395,442
Form type
4
Date filed
3/6/2025, 09:30 PM
Previous filing
Dec 18, 2024
Next filing
Apr 4, 2025
This filing has been restated, see here for the amended filing

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction INVA Common Stock, par value $0.01 per share Sale -$2.67M -151K -2.08% $17.63 7.13M Mar 4, 2025 See footnotes F1, F4, F5
transaction INVA Common Stock, par value $0.01 per share Sale -$4.77M -270K -3.79% $17.63 6.86M Mar 5, 2025 See footnotes F2, F4, F5
transaction INVA Common Stock, par value $0.01 per share Sale -$21M -1.2M -17.46% $17.52 5.66M Mar 6, 2025 See footnotes F3, F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On March 4, 2025, the Reporting Persons sold 151,175 shares of Common Stock at a weighted average price of $17.6291 per share. The shares were sold in multiple open market transactions at prices ranging from $17.55 to $17.89 per share, inclusive. The Reporting Persons undertake to provide, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote to this Form 4.
F2 On March 5, 2025, the Reporting Persons sold 270,374 shares of Common Stock at a weighted average price of $17.6279 per share. The shares were sold in multiple open market transactions at prices ranging from $17.49 to $17.72 per share, inclusive. The Reporting Persons undertake to provide, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote to this Form 4.
F3 On March 6, 2025, the Reporting Persons sold 1,196,746 shares of Common Stock at a weighted average price of $17.5177 per share. The shares were sold in multiple open market transactions at prices ranging from $17.48 to $17.64 per share, inclusive. The Reporting Persons undertake to provide, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote to this Form 4.
F4 Sarissa Capital Management LP ("Sarissa Capital") is the investment advisor to Sarissa Capital Offshore Master Fund LP, Sarissa Capital Catapult Fund LLC, Sarissa Capital Hawkeye Fund LP and Sarissa Capital Master Fund II LP (collectively, the "Sarissa Funds") and may be deemed to beneficially own the shares of Common Stock directly beneficially owned by the Sarissa Funds by virtue of the authority granted to it to vote and to dispose of the securities held by them, including the shares of Common Stock. Alexander J. Denner, Ph.D., a citizen of the United States of America ("Dr. Denner"), is the Chief Investment Officer and ultimate general partner of Sarissa Capital and is the ultimate general partner, or controls the managing member, of each of the Sarissa Funds; accordingly, Dr. Denner may be deemed to beneficially own the shares of Common Stock directly held by the Sarissa Funds by virtue of such positions.
F5 Each of Dr. Denner, Sarissa Capital and each of the Sarissa Funds disclaims beneficial ownership of the shares of Common Stock reported herein except, in each case, to the extent of their pecuniary interest therein.