PDS Biotechnology (PDSB) Operating Expenses (2014 - 2026)
PDS Biotechnology's (PDSB) quarterly Operating Expenses came in at $6.7 million in Q4 2025, down 9.32% YoY from $7.4 million in Q4 2024, and down 18.0% on a QoQ basis from $8.1 million in Q3 2025.
PDS Biotechnology (PDSB) Operating Expenses (2014 - 2026) Analysis & Trends
PDS Biotechnology (PDSB) has 12 years of Operating Expenses data on file, last reported at $6.7 million in Q4 2025.
- Quarterly Operating Expenses fell 9.32% year-over-year to $6.7 million in Q4 2025, while the trailing twelve-month figure through Dec 2025 was $31.5 million (down 13.15% YoY) and the FY2025 annual result came in at $31.5 million, down 13.15% from the prior year.
- Operating Expenses slipped to $6.7 million in Q4 2025, from $8.1 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $18.8 million in Q4 2022 to a low of $3.0 million in Q1 2021.
- A 5-year average of $8.7 million and a median of $8.3 million in 2022 frame the typical range for Operating Expenses.
- Annual changes were most pronounced in 2022 — Operating Expenses jumped 197.73% — and 2023, when it slumped 44.71%.
- Tracing PDSB's Operating Expenses over 5 years: stood at $6.3 million in 2021, then surged by 197.73% to $18.8 million in 2022, then tumbled by 44.71% to $10.4 million in 2023, then declined by 29.27% to $7.4 million in 2024, then dropped by 9.32% to $6.7 million in 2025.
- The last three Operating Expenses figures came in at $6.7 million (Q4 2025), $8.1 million (Q3 2025), and $7.6 million (Q2 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertex Pharmaceuticals | 139.71 Bn | 131.86 Bn | 2.84 Bn | 2.09 Bn |
| 2 | Regeneron Pharmaceuticals | 86.55 Bn | 78.55 Bn | 3.93 Bn | 3.00 Bn |
| 3 | Argenx Se | 65.26 Bn | 60.07 Bn | 1.37 Bn | 2.89 Bn |
| 4 | Moderna | 59.81 Bn | 54.67 Bn | 52.00 Mn | 960.00 Mn |
| 5 | BeOne Medicines | 42.16 Bn | 37.06 Bn | 1.53 Bn | 1.21 Bn |
| 6 | Alnylam Pharmaceuticals | 31.87 Bn | 28.56 Bn | 992.69 Mn | 1.06 Bn |
| 7 | BioNTech SE | 28.13 Bn | 9.74 Bn | 668.28 Mn | -784.57 Mn |
| 8 | Insmed | 27.53 Bn | 26.37 Bn | 358.27 Mn | 427.03 Mn |
| 9 | Royalty Pharma | 27.31 Bn | 26.47 Bn | - | 541.02 Mn |
| 10 | PDS Biotechnology | 12.20 Mn | 12.20 Mn | - | 6.50 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 6.50 Mn |
| Dec 31, 2025 | 6.67 Mn |
| Sep 30, 2025 | 8.14 Mn |
| Jun 30, 2025 | 7.62 Mn |
| Mar 31, 2025 | 9.11 Mn |
| Dec 31, 2024 | 7.36 Mn |
| Sep 30, 2024 | 10.18 Mn |
| Jun 30, 2024 | 8.68 Mn |
| Mar 31, 2024 | 10.10 Mn |
| Dec 31, 2023 | 10.41 Mn |
| Sep 30, 2023 | 10.52 Mn |
| Jun 30, 2023 | 12.70 Mn |
| Mar 31, 2023 | 9.42 Mn |
| Dec 31, 2022 | 18.82 Mn |
| Sep 30, 2022 | 7.28 Mn |
| Jun 30, 2022 | 7.09 Mn |
| Mar 31, 2022 | 8.48 Mn |
| Dec 31, 2021 | 6.32 Mn |
| Sep 30, 2021 | 6.96 Mn |
| Jun 30, 2021 | 5.11 Mn |