Insmed (INSM) Research & Development (2010 - 2026)
Insmed (INSM) posted quarterly Research & Development of $209.5 million for Q1 2026, up 37.3% year-over-year from $152.6 million in Q1 2025, and down 17.82% quarter-over-quarter from $254.9 million in Q4 2025.
Insmed (INSM) Research & Development (2010 - 2026) Analysis & Trends
Insmed's Research & Development history runs 17 years deep, the most recent figure standing at $209.5 million for Q1 2026.
- In Q1 2026, Research & Development rose 37.3% year-over-year to $209.5 million; the TTM figure through Mar 2026 stood at $828.0 million (up 31.46% YoY), while the FY2025 annual figure was $771.1 million, up 28.87% from the prior year.
- Research & Development for Q1 2026 stood at $209.5 million, down from $254.9 million in the prior quarter.
- The five-year high for Research & Development was $254.9 million in Q4 2025, with the low at $84.4 million in Q1 2022.
- The 5-year median for Research & Development is $146.7 million (2024), against an average of $149.9 million.
- The sharpest annual moves came in 2023 and 2024: Research & Development jumped 122.5% in 2023, then decreased 25.5% in 2024.
- Insmed's Research & Development stood at $124.8 million in 2022, then grew by 9.83% to $137.0 million in 2023, then surged by 31.16% to $179.7 million in 2024, then jumped by 41.83% to $254.9 million in 2025, then declined by 17.82% to $209.5 million in 2026.
- Business Quant data shows INSM's Research & Development at $209.5 million in Q1 2026, $254.9 million in Q4 2025, and $186.4 million in Q3 2025.
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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 | Roivant Sciences | 26.16 Bn | 26.85 Bn | 1.16 Mn | 202.02 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 210.03 Mn |
| Mar 31, 2026 | 209.49 Mn |
| Dec 31, 2025 | 254.91 Mn |
| Sep 30, 2025 | 186.42 Mn |
| Jun 30, 2025 | 177.19 Mn |
| Mar 31, 2025 | 152.58 Mn |
| Dec 31, 2024 | 179.73 Mn |
| Sep 30, 2024 | 150.81 Mn |
| Jun 30, 2024 | 146.75 Mn |
| Mar 31, 2024 | 121.08 Mn |
| Dec 31, 2023 | 137.03 Mn |
| Sep 30, 2023 | 109.15 Mn |
| Jun 30, 2023 | 196.97 Mn |
| Mar 31, 2023 | 127.87 Mn |
| Dec 31, 2022 | 124.76 Mn |
| Sep 30, 2022 | 99.87 Mn |
| Jun 30, 2022 | 88.53 Mn |
| Mar 31, 2022 | 84.36 Mn |
| Dec 31, 2021 | 76.35 Mn |
| Sep 30, 2021 | 70.35 Mn |