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

Valneva SE has disclosed Research & Development across 6 years of filings, most recently posting -$17.8 million for Q1 2026.

• Research & Development for Q1 2026 came in at -$17.8 million, down 13.25% year-over-year; the trailing twelve-month figure through Mar 2026 was $99.3 million (up 29.26% YoY), and the FY2025 annual result was $99.3 million, up 25.33% from the prior year.
• Research & Development came in at -$17.8 million for Q1 2026 at Valneva SE, down from $168.8 million in the prior quarter.
• In the past five years, Research & Development ranged from a high of $184.0 million in Q4 2022 to a low of -$33.3 million in Q2 2022.
• The 5-year median for Research & Development is -$17.7 million (2023), against an average of $19.4 million.
• Across the five-year window, Research & Development surged 61.03% in 2023 and tumbled 53.82% in 2025, its largest moves.
• Valneva SE's Research & Development stood at $184.0 million in 2022, then sank by 40.28% to $109.9 million in 2023, then gained by 19.35% to $131.1 million in 2024, then gained by 28.75% to $168.8 million in 2025, then slumped by 110.55% to -$17.8 million in 2026.
• The last three Research & Development figures came in at -$17.8 million (Q1 2026), $168.8 million (Q4 2025), and -$31.9 million (Q3 2025), per Business Quant data.