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Innoviva misses 1Q profit forecasts

BRISBANE, Calif. (AP) _ Innoviva Inc. (INVA) on Thursday reported first-quarter earnings of $16.8 million.

The Brisbane, California-based company said it had profit of 15 cents per share.

The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 27 cents per share.

The biopharmaceutical company posted revenue of $40.5 million in the period.

Innoviva shares have climbed 18 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $12.59, an increase of 1 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on INVA at https://www.zacks.com/ap/INVA

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Keywords: Innoviva, Earnings Report