Inhibrx Biosciences (INBX) Research & Development (2023 - 2026)

Inhibrx Biosciences (INBX) has reported Research & Development for 3 consecutive years, with $25.3 million the latest figure, recorded in Q4 2025.

• In Q4 2025, Research & Development fell 24.03% year-over-year to $25.3 million; the TTM figure through Dec 2025 stood at $113.0 million (down 44.52% YoY), while the FY2025 annual figure was $113.0 million, down 44.52% from the prior year.
• Research & Development eased to $25.3 million in Q4 2025 per INBX's latest filing, from $28.5 million in the prior quarter.
• Across five years, Research & Development topped out at $82.1 million in Q4 2023 and bottomed at $22.3 million in Q2 2025.
• Historically, Research & Development has averaged $42.8 million across 3 years, with a median of $36.9 million in 2025.
• Annual changes were most pronounced in 2024 — Research & Development surged 98.3% — and 2025, when it sank 67.08%.
• Inhibrx Biosciences' Research & Development stood at $82.1 million in 2023, then tumbled by 59.35% to $33.4 million in 2024, then decreased by 24.03% to $25.3 million in 2025.
• Business Quant data shows INBX's Research & Development at $25.3 million in Q4 2025, $28.5 million in Q3 2025, and $22.3 million in Q2 2025.