Valneva SE (VALN) Research & Development (2021 - 2026)

Valneva SE (VALN) has reported Research & Development for 6 consecutive years, with -$17.3 million the latest figure, recorded in Q1 2026.

• Quarterly Research & Development fell 1.75% year-over-year to -$17.3 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $96.8 million (up 17.59% YoY) and the FY2025 annual result came in at $97.1 million, up 15.05% from the prior year.
• Research & Development declined to -$17.3 million in Q1 2026 per VALN's latest filing, from $165.0 million in the prior quarter.
• Over the last five years, Research & Development for VALN reached as high as $205.2 million in Q4 2022 and fell as low as -$35.5 million in Q2 2022.
• A 5-year average of $20.7 million and a median of -$17.3 million in 2026 frame the typical range for Research & Development.
• Annual changes were most pronounced in 2023 — Research & Development surged 61.81% — and 2025, when it slumped 44.5%.
• Year by year, Research & Development stood at $205.2 million in 2022, then slumped by 43.37% to $116.2 million in 2023, then advanced by 20.17% to $139.6 million in 2024, then climbed by 18.19% to $165.0 million in 2025, then sank by 110.49% to -$17.3 million in 2026.
• According to Business Quant data, Research & Development over the past three periods registered -$17.3 million, $165.0 million, and -$31.1 million for Q1 2026, Q4 2025, and Q3 2025 respectively.