Calidi Biotherapeutics (CLDI) Research & Development (2022 - 2026)
Calidi Biotherapeutics (CLDI) posted quarterly Research & Development of $2.4 million for Q4 2025, up 29.92% year-over-year from $1.8 million in Q4 2024, and little changed quarter-over-quarter from $2.4 million in Q3 2025.
Calidi Biotherapeutics (CLDI) Research & Development (2022 - 2026) Analysis & Trends
Calidi Biotherapeutics' Research & Development history runs 4 years deep, the most recent figure standing at $2.4 million for Q4 2025.
- In Q4 2025, Research & Development rose 29.92% year-over-year to $2.4 million; the TTM figure through Dec 2025 stood at $9.7 million (up 9.68% YoY), while the FY2025 annual figure was $9.7 million, up 9.68% from the prior year.
- Research & Development for Q4 2025 stood at $2.4 million, roughly flat from $2.4 million in the prior quarter.
- The five-year high for Research & Development was $4.0 million in Q4 2023, with the low at $1.8 million in Q4 2024.
- The 4-year median for Research & Development is $2.4 million (2025), against an average of $2.6 million.
- The sharpest annual moves came in 2023 and 2024: Research & Development soared 74.9% in 2023, then sank 54.14% in 2024.
- Calidi Biotherapeutics' Research & Development stood at $2.3 million in 2022, then jumped by 74.9% to $4.0 million in 2023, then tumbled by 54.14% to $1.8 million in 2024, then rose by 29.92% to $2.4 million in 2025.
- Business Quant data shows CLDI's Research & Development at $2.4 million in Q4 2025, $2.4 million in Q3 2025, and $2.6 million in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertex Pharmaceuticals | 137.11 Bn | 129.26 Bn | 2.84 Bn | 993.80 Mn |
| 2 | Regeneron Pharmaceuticals | 84.98 Bn | 76.99 Bn | 3.93 Bn | 1.63 Bn |
| 3 | Argenx Se | 64.52 Bn | 59.33 Bn | 1.37 Bn | 1.37 Bn |
| 4 | Moderna | 53.23 Bn | 48.09 Bn | 52.00 Mn | 651.00 Mn |
| 5 | BeOne Medicines | 41.23 Bn | 36.14 Bn | 1.53 Bn | 612.28 Mn |
| 6 | Alnylam Pharmaceuticals | 30.65 Bn | 27.34 Bn | 992.69 Mn | 413.13 Mn |
| 7 | Insmed | 27.15 Bn | 25.99 Bn | 358.27 Mn | 210.03 Mn |
| 8 | Royalty Pharma | 26.98 Bn | 26.14 Bn | - | 97.90 Mn |
| 9 | BioNTech SE | 26.78 Bn | 8.39 Bn | 668.28 Mn | -588.31 Mn |
| 10 | Calidi Biotherapeutics | 1.88 Mn | -2.22 Mn | - | 2.56 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 2.56 Mn |
| Dec 31, 2025 | 2.36 Mn |
| Sep 30, 2025 | 2.36 Mn |
| Jun 30, 2025 | 2.59 Mn |
| Mar 31, 2025 | 2.43 Mn |
| Dec 31, 2024 | 1.82 Mn |
| Sep 30, 2024 | 2.15 Mn |
| Jun 30, 2024 | 2.17 Mn |
| Mar 31, 2024 | 2.74 Mn |
| Dec 31, 2023 | 3.96 Mn |
| Sep 30, 2023 | 3.25 Mn |
| Jun 30, 2023 | 3.18 Mn |
| Mar 31, 2023 | 2.62 Mn |
| Dec 31, 2022 | 2.26 Mn |
| Sep 30, 2022 | 1.95 Mn |