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Stock-Based Compensation | 3 Months Ended
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Mar. 31, 2025
Share-Based Payment Arrangement [Abstract] |
Stock-Based Compensation | 9. Stock-Based Compensation Stock-Based Compensation Expense The following table summarizes stock-based compensation expense:
|  | Three Months Ended March 31, |
(In thousands) |  | 2025 |  |  | 2024 |
Selling, general and administrative |  | $ | 2,028 |  |  | $ | 1,358 |
Research and development |  |  | 119 |  |  |  | 97 |
Total |  | $ | 2,147 |  |  | $ | 1,455 |
Valuation Assumptions Black-Scholes-Merton assumptions used in calculating the estimated value of stock options granted by Innoviva on the date of grant were as follows:
|  | Three Months Ended March 31,
|  | 2025 |  | 2024
Risk-free interest rate |  | 4.1% - 4.4% |  | 4.1% - 4.3%
Expected term (in years) |  | 6.08 - 6.14 |  | 5.90 - 6.15
Volatility |  | 34.3% - 34.9% |  | 36.7% - 36.8%
Dividend yield |  | —% |  | —%
Weighted-average estimated fair value of stock options granted |  | $7.17 - $7.92 |  | $4.97 - $6.93

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