Cardiol Therapeutics (CRDL) Research & Development (2020 - 2026)
Cardiol Therapeutics' (CRDL) quarterly Research & Development came in at $3.6 million in Q1 2026, up 37.83% YoY from $2.6 million in Q1 2025, and up 83.5% on a QoQ basis from $2.0 million in Q4 2025.
Cardiol Therapeutics (CRDL) Research & Development (2020 - 2026) Analysis & Trends
Cardiol Therapeutics (CRDL) has 7 years of Research & Development data on file, last reported at $3.6 million in Q1 2026.
- Quarterly Research & Development rose 37.83% year-over-year to $3.6 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $11.0 million (up 6.26% YoY) and the FY2025 annual result came in at $10.1 million, changed 0.22% from the prior year.
- Research & Development rose to $3.6 million in Q1 2026, from $2.0 million in the prior quarter.
- In the past five years, Research & Development ranged from a high of $4.1 million in Q4 2022 to a low of $1.9 million in Q3 2023.
- A 5-year average of $2.9 million and a median of $3.0 million in 2023 frame the typical range for Research & Development.
- Annual changes were most pronounced in 2022 — Research & Development surged 105.1% — and 2023, when it plunged 50.74%.
- Tracing CRDL's Research & Development over 5 years: stood at $4.1 million in 2022, then retreated by 28.29% to $3.0 million in 2023, then climbed by 2.0% to $3.0 million in 2024, then slumped by 35.03% to $2.0 million in 2025, then surged by 83.5% to $3.6 million in 2026.
- The last three Research & Development figures came in at $3.6 million (Q1 2026), $2.0 million (Q4 2025), and $3.5 million (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Haleon | 43.85 Bn | 42.88 Bn | - | - |
| 2 | Teva Pharmaceutical Industries | 43.02 Bn | 39.37 Bn | 2.15 Bn | 970.00 Mn |
| 3 | Zoetis | 31.47 Bn | 29.79 Bn | 1.05 Bn | - |
| 4 | Takeda Pharmaceutical | 28.59 Bn | 22.79 Bn | 5.10 Bn | -1.05 Bn |
| 5 | United Therapeutics | 22.20 Bn | 19.53 Bn | 683.80 Mn | 146.30 Mn |
| 6 | Viatris | 18.76 Bn | 17.87 Bn | 1.46 Bn | 248.30 Mn |
| 7 | Neurocrine Biosciences | 15.45 Bn | 15.06 Bn | 935.80 Mn | 326.70 Mn |
| 8 | Elanco Animal Health | 11.76 Bn | 11.23 Bn | 798.00 Mn | 92.00 Mn |
| 9 | Dr Reddys Laboratories | 10.10 Bn | 9.94 Bn | - | - |
| 10 | Cardiol Therapeutics | 217.80 Mn | 198.95 Mn | - | 2.31 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 3.61 Mn |
| Dec 31, 2025 | 1.97 Mn |
| Sep 30, 2025 | 3.48 Mn |
| Jun 30, 2025 | 1.97 Mn |
| Mar 31, 2025 | 2.62 Mn |
| Dec 31, 2024 | 3.03 Mn |
| Sep 30, 2024 | 2.75 Mn |
| Jun 30, 2024 | 1.98 Mn |
| Mar 31, 2024 | 2.47 Mn |
| Dec 31, 2023 | 2.97 Mn |
| Sep 30, 2023 | 1.92 Mn |
| Jun 30, 2023 | 2.59 Mn |
| Mar 31, 2023 | 3.05 Mn |
| Dec 31, 2022 | 4.14 Mn |
| Sep 30, 2022 | 3.90 Mn |
| Jun 30, 2022 | 3.46 Mn |
| Mar 31, 2022 | 3.04 Mn |
| Dec 31, 2021 | 2.80 Mn |
| Sep 30, 2021 | 2.06 Mn |
| Jun 30, 2021 | 1.69 Mn |