X4 Pharmaceuticals (XFOR) Research & Development (2017 - 2026)
X4 Pharmaceuticals' (XFOR) quarterly Research & Development came in at $15.1 million in Q2 2026, down 17.83% on a YoY basis from $18.4 million in Q2 2025, and down 2.4% quarter-over-quarter from $15.4 million in Q1 2026.
Analysis
X4 Pharmaceuticals (XFOR) Research & Development (2017 - 2026) Analysis & Trends
X4 Pharmaceuticals (XFOR) has reported Research & Development for 10 consecutive years, with $15.1 million the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Research & Development fell 17.83% year-over-year to $15.1 million; the trailing twelve-month figure through Jun 2026 stood at $66.4 million (down 14.6% YoY), and the FY2025 full-year result was $72.7 million, down 10.93% from the prior year.
- Research & Development fell to $15.1 million in Q2 2026 per XFOR's latest filing, from $15.4 million in the prior quarter.
- Across five years, Research & Development topped out at $22.1 million in Q1 2023 and bottomed at $13.8 million in Q2 2022.
- Historically, Research & Development has averaged $17.7 million across 5 years, with a median of $18.4 million in 2025.
- The sharpest annual moves came in 2022 and 2023: Research & Development jumped 56.34% in 2022, then fell 19.68% in 2023.
- Over 5 years, Research & Development stood at $19.0 million in 2022, then dropped by 19.68% to $15.3 million in 2023, then soared by 42.1% to $21.7 million in 2024, then decreased by 14.66% to $18.5 million in 2025, then fell by 18.58% to $15.1 million in 2026.
- According to Business Quant data, Research & Development over the past three periods registered $15.1 million, $15.4 million, and $18.5 million for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Johnson & Johnson | 663.08 Bn | 642.33 Bn | 17.26 Bn | 3.65 Bn |
| 2 | AbbVie | 453.04 Bn | 446.51 Bn | 12.70 Bn | 2.34 Bn |
| 3 | Merck | 370.87 Bn | 363.78 Bn | 12.21 Bn | 9.74 Bn |
| 4 | Novartis Ag | 305.29 Bn | 298.00 Bn | 11.24 Bn | -2.85 Bn |
| 5 | Pfizer | 162.10 Bn | 150.70 Bn | 10.94 Bn | 2.81 Bn |
| 6 | Sanofi | 53.95 Bn | 46.98 Bn | 10.79 Bn | -2.60 Bn |
| 7 | Revolution Medicines | 45.00 Bn | 45.00 Bn | - | 394.92 Mn |
| 8 | BeOne Medicines | 40.49 Bn | 35.39 Bn | 1.53 Bn | 612.28 Mn |
| 9 | Incyte | 25.47 Bn | 20.94 Bn | 1.57 Bn | 516.95 Mn |
| 10 | X4 Pharmaceuticals | 510.43 Mn | 315.33 Mn | 7.19 Mn | 15.08 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 15.08 Mn |
| Mar 31, 2026 | 15.45 Mn |
| Dec 31, 2025 | 18.52 Mn |
| Sep 30, 2025 | 17.34 Mn |
| Jun 30, 2025 | 18.35 Mn |
| Mar 31, 2025 | 18.51 Mn |
| Dec 31, 2024 | 21.70 Mn |
| Sep 30, 2024 | 19.17 Mn |
| Jun 30, 2024 | 20.91 Mn |
| Mar 31, 2024 | 19.85 Mn |
| Dec 31, 2023 | 15.27 Mn |
| Sep 30, 2023 | 19.08 Mn |
| Jun 30, 2023 | 15.60 Mn |
| Mar 31, 2023 | 22.06 Mn |
| Dec 31, 2022 | 19.01 Mn |
| Sep 30, 2022 | 14.11 Mn |
| Jun 30, 2022 | 13.82 Mn |
| Mar 31, 2022 | 14.11 Mn |
| Dec 31, 2021 | 12.16 Mn |
| Sep 30, 2021 | 13.19 Mn |