Alumis (ALMS) Research & Development (2023 - 2026)
Alumis (ALMS) posted quarterly Research & Development of $82.8 million for Q4 2025, down 5.07% year-over-year from $87.2 million in Q4 2024, and down 15.38% quarter-over-quarter from $97.8 million in Q3 2025.
Alumis (ALMS) Research & Development (2023 - 2026) Analysis & Trends
Alumis (ALMS) has reported Research & Development for 3 consecutive years, with $82.8 million the latest figure, recorded in Q4 2025.
- In Q4 2025, Research & Development fell 5.07% year-over-year to $82.8 million; the TTM figure through Dec 2025 stood at $386.0 million (up 45.36% YoY), while the FY2025 annual figure was $386.0 million, up 45.36% from the prior year.
- Research & Development fell to $82.8 million in Q4 2025 per ALMS's latest filing, from $97.8 million in the prior quarter.
- Across five years, Research & Development topped out at $108.8 million in Q2 2025 and bottomed at $32.8 million in Q2 2023.
- Historically, Research & Development has averaged $68.8 million across 3 years, with a median of $82.8 million in 2025.
- Annual changes were most pronounced in 2024 — Research & Development surged 152.0% — and 2025, when it declined 5.07%.
- Alumis' Research & Development stood at $34.6 million in 2023, then jumped by 152.0% to $87.2 million in 2024, then slipped by 5.07% to $82.8 million in 2025.
- Business Quant data shows ALMS's Research & Development at $82.8 million in Q4 2025, $97.8 million in Q3 2025, and $108.8 million in Q2 2025.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertex Pharmaceuticals | 128.13 Bn | 120.28 Bn | 2.84 Bn | 993.80 Mn |
| 2 | Regeneron Pharmaceuticals | 112.33 Bn | 104.33 Bn | 3.93 Bn | 1.63 Bn |
| 3 | Argenx Se | 53.24 Bn | 48.05 Bn | 1.41 Bn | 1.37 Bn |
| 4 | Revolution Medicines | 43.64 Bn | 43.64 Bn | - | 394.92 Mn |
| 5 | BeOne Medicines | 39.27 Bn | 34.17 Bn | 1.53 Bn | 612.28 Mn |
| 6 | MindWalk Holdings | 35.32 Bn | 35.31 Bn | 1.82 Bn | 1,146.05 |
| 7 | Royalty Pharma | 33.72 Bn | 35.84 Bn | - | 97.90 Mn |
| 8 | Alnylam Pharmaceuticals | 30.58 Bn | 27.27 Bn | 992.69 Mn | 413.13 Mn |
| 9 | Insmed | 27.01 Bn | 25.85 Bn | 358.27 Mn | 210.03 Mn |
| 10 | Alumis | 3.25 Bn | 2.75 Bn | - | 85.34 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 85.34 Mn |
| Dec 31, 2025 | 82.79 Mn |
| Sep 30, 2025 | 97.84 Mn |
| Jun 30, 2025 | 108.76 Mn |
| Mar 31, 2025 | 96.62 Mn |
| Dec 31, 2024 | 87.20 Mn |
| Sep 30, 2024 | 87.82 Mn |
| Jun 30, 2024 | 48.57 Mn |
| Mar 31, 2024 | 41.96 Mn |
| Dec 31, 2023 | 34.61 Mn |
| Sep 30, 2023 | 37.79 Mn |
| Jun 30, 2023 | 32.85 Mn |