Kyverna Therapeutics (KYTX) Research & Development (2023 - 2026)
Kyverna Therapeutics' (KYTX) quarterly Research & Development came in at $30.1 million in Q1 2026, down 19.66% YoY from $37.4 million in Q1 2025, and little changed on a QoQ basis from $30.0 million in Q4 2025.
Kyverna Therapeutics (KYTX) Research & Development (2023 - 2026) Analysis & Trends
Kyverna Therapeutics (KYTX) has 4 years of Research & Development data on file, last reported at $30.1 million in Q1 2026.
- Quarterly Research & Development fell 19.66% year-over-year to $30.1 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $126.4 million (down 0.84% YoY) and the FY2025 annual result came in at $133.7 million, up 18.89% from the prior year.
- Research & Development held at $30.1 million in Q1 2026, from $30.0 million in the prior quarter.
- In the past five years, Research & Development ranged from a high of $37.4 million in Q1 2025 to a low of $8.7 million in Q1 2023.
- A 4-year average of $25.1 million and a median of $29.2 million in 2024 frame the typical range for Research & Development.
- Annual changes were most pronounced in 2024 — Research & Development surged 162.58% — and 2026, when it dropped 19.66%.
- Tracing KYTX's Research & Development over 4 years: stood at $17.2 million in 2023, then surged by 95.09% to $33.5 million in 2024, then fell by 10.36% to $30.0 million in 2025, then grew by 0.2% to $30.1 million in 2026.
- The last three Research & Development figures came in at $30.1 million (Q1 2026), $30.0 million (Q4 2025), and $30.5 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 | 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 | Kyverna Therapeutics | 505.26 Mn | 505.26 Mn | - | 24.79 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 24.79 Mn |
| Mar 31, 2026 | 30.07 Mn |
| Dec 31, 2025 | 30.01 Mn |
| Sep 30, 2025 | 30.46 Mn |
| Jun 30, 2025 | 35.82 Mn |
| Mar 31, 2025 | 37.43 Mn |
| Dec 31, 2024 | 33.48 Mn |
| Sep 30, 2024 | 29.19 Mn |
| Jun 30, 2024 | 27.32 Mn |
| Mar 31, 2024 | 22.48 Mn |
| Dec 31, 2023 | 17.16 Mn |
| Sep 30, 2023 | 13.64 Mn |
| Jun 30, 2023 | 10.41 Mn |
| Mar 31, 2023 | 8.71 Mn |