<SEC-DOCUMENT>0001567619-21-007206.txt : 20210330
<SEC-HEADER>0001567619-21-007206.hdr.sgml : 20210330
<ACCEPTANCE-DATETIME>20210330173859
ACCESSION NUMBER:		0001567619-21-007206
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20210329
FILED AS OF DATE:		20210330
DATE AS OF CHANGE:		20210330

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Birx Deborah
		CENTRAL INDEX KEY:			0001849673

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-30319
		FILM NUMBER:		21788634

	MAIL ADDRESS:	
		STREET 1:		3300 LOWELL STREET NW
		CITY:			WASHINGTON
		STATE:			DC
		ZIP:			20008

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Innoviva, Inc.
		CENTRAL INDEX KEY:			0001080014
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				943265960
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1350 OLD BAYSHORE HIGHWAY
		STREET 2:		SUITE 400
		CITY:			BURLINGAME
		STATE:			CA
		ZIP:			94010
		BUSINESS PHONE:		6502389600

	MAIL ADDRESS:	
		STREET 1:		1350 OLD BAYSHORE HIGHWAY
		STREET 2:		SUITE 400
		CITY:			BURLINGAME
		STATE:			CA
		ZIP:			94010

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	THERAVANCE INC
		DATE OF NAME CHANGE:	20020207

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ADVANCED MEDICINE INC
		DATE OF NAME CHANGE:	20000302
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>doc1.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2021-03-29</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001080014</issuerCik>
        <issuerName>Innoviva, Inc.</issuerName>
        <issuerTradingSymbol>INVA</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001849673</rptOwnerCik>
            <rptOwnerName>Birx Deborah</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O INNOVIVA, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>1350 OLD BAYSHORE HIGHWAY, SUITE 400</rptOwnerStreet2>
            <rptOwnerCity>BURLINGAME</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94010</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2021-03-29</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1612</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>12360</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">The Reporting Person was granted restricted stock units (&quot;RSUs&quot;). 100% of the RSUs will vest at the sooner of the next annual stockholder meeting or March 9, 2022, subject to the Reporting Person's continuous service as an Outside Director through the applicable vesting date.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Deborah Birx</signatureName>
        <signatureDate>2021-03-30</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
