Passage BIO (PASG) Research & Development (2019 - 2026)
Passage BIO's Research & Development was $3.34 million in Q2 2026, down 42.5% from $5.81 million a year earlier and down 18.3% from the prior quarter.
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Analysis
Passage BIO (PASG) Research & Development (2019 - 2026) Analysis & Trends
On a trailing twelve-month basis, Passage BIO's Research & Development was $17.16 million through Jun 30, 2026, down 46.0% year-over-year; for FY2025, it was $23.28 million, down 42.1% from FY2024.
- Research & Development has now declined for four consecutive years, with a five-year compound annual growth rate of -22.2% (FY2020 to FY2025).
- In earlier years, Research & Development was $40.18 million in FY2024 (-34.6%), $61.42 million in FY2023 (-28.6%), $86.05 million in FY2022 (-26.9%) and $117.67 million in FY2021 (+43.9%).
- The Q2 2026 figure marks the lowest quarterly Research & Development in data going back to Q2 2019.
- Compared with a year earlier, Research & Development has declined for 17 straight quarters, with an average decline of 40.6% over the last eight quarters.
- The best year-over-year quarter for Research & Development over five years was Q3 2021 (growth of 27.8%); the worst was Q3 2025 (a decline of 50.2%).
- Per Business Quant data, PASG's Research & Development in the three quarters before Q2 2026 was $4.09 million (Q1 2026), $5.42 million (Q4 2025) and $4.31 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Johnson & Johnson | 638.12 Bn | 556.64 Bn | 17.26 Bn | 3.65 Bn |
| 2 | AbbVie | 462.60 Bn | 435.75 Bn | 12.70 Bn | 2.34 Bn |
| 3 | Merck | 358.70 Bn | 313.13 Bn | 12.21 Bn | 9.74 Bn |
| 4 | Novartis Ag | 272.16 Bn | 228.03 Bn | 11.24 Bn | -2.85 Bn |
| 5 | Astrazeneca | 250.36 Bn | 223.92 Bn | 12.86 Bn | -4.05 Bn |
| 6 | Amgen | 227.87 Bn | 183.27 Bn | 7.24 Bn | 1.87 Bn |
| 7 | Gilead Sciences | 184.97 Bn | 159.08 Bn | 6.22 Bn | 1.76 Bn |
| 8 | Pfizer | 162.61 Bn | 109.56 Bn | 10.94 Bn | 2.81 Bn |
| 9 | Vertex Pharmaceuticals | 132.45 Bn | 104.46 Bn | 2.84 Bn | 993.80 Mn |
| 10 | Passage BIO | 14.48 Mn | 14.48 Mn | - | 3.34 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 3.34 Mn |
| Mar 31, 2026 | 4.09 Mn |
| Dec 31, 2025 | 5.42 Mn |
| Sep 30, 2025 | 4.31 Mn |
| Jun 30, 2025 | 5.81 Mn |
| Mar 31, 2025 | 7.74 Mn |
| Dec 31, 2024 | 9.56 Mn |
| Sep 30, 2024 | 8.66 Mn |
| Jun 30, 2024 | 10.43 Mn |
| Mar 31, 2024 | 11.54 Mn |
| Dec 31, 2023 | 12.16 Mn |
| Sep 30, 2023 | 15.10 Mn |
| Jun 30, 2023 | 17.32 Mn |
| Mar 31, 2023 | 16.84 Mn |
| Dec 31, 2022 | 17.66 Mn |
| Sep 30, 2022 | 15.36 Mn |
| Jun 30, 2022 | 26.82 Mn |
| Mar 31, 2022 | 26.21 Mn |
| Dec 31, 2021 | 32.97 Mn |
| Sep 30, 2021 | 26.62 Mn |
API Access
Passage BIO Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=PASG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "PASG", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=PASG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();