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Innoviva misses 3Q profit forecasts

BRISBANE, Calif. (AP) _ Innoviva Inc. (INVA) on Wednesday reported third-quarter earnings of $23.8 million.

The Brisbane, California-based company said it had profit of 21 cents per share.

The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.

The biopharmaceutical company posted revenue of $48.6 million in the period.

Innoviva shares have climbed roughly 10 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $11.73, a climb of 15 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