X4 Pharmaceuticals (XFOR) Research & Development (2017 - 2026)
X4 Pharmaceuticals' (XFOR) quarterly Research & Development came in at $18.5 million in Q4 2025, down 14.66% YoY from $21.7 million in Q4 2024, and up 6.83% on a QoQ basis from $17.3 million in Q3 2025.
X4 Pharmaceuticals (XFOR) Research & Development (2017 - 2026) Analysis & Trends
X4 Pharmaceuticals (XFOR) has 9 years of Research & Development data on file, last reported at $18.5 million in Q4 2025.
- Quarterly Research & Development fell 14.66% year-over-year to $18.5 million in Q4 2025, while the trailing twelve-month figure through Dec 2025 was $72.7 million (down 10.93% YoY) and the FY2025 annual result came in at $72.7 million, down 10.93% from the prior year.
- Research & Development grew to $18.5 million in Q4 2025, from $17.3 million in the prior quarter.
- In the past five years, Research & Development ranged from a high of $22.1 million in Q1 2023 to a low of $12.1 million in Q1 2021.
- A 5-year average of $16.9 million and a median of $17.8 million in 2025 frame the typical range for Research & Development.
- Annual changes were most pronounced in 2022 — Research & Development soared 56.34% — and 2023, when it declined 19.68%.
- Tracing XFOR's Research & Development over 5 years: stood at $12.2 million in 2021, then surged by 56.34% to $19.0 million in 2022, then decreased by 19.68% to $15.3 million in 2023, then jumped by 42.1% to $21.7 million in 2024, then fell by 14.66% to $18.5 million in 2025.
- The last three Research & Development figures came in at $18.5 million (Q4 2025), $17.3 million (Q3 2025), and $18.4 million (Q2 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertex Pharmaceuticals | 128.13 Bn | 120.28 Bn | 2.84 Bn | 993.80 Mn |
| 2 | Regeneron Pharmaceuticals | 112.33 Bn | 104.33 Bn | 3.93 Bn | 1.63 Bn |
| 3 | Argenx Se | 53.24 Bn | 48.05 Bn | 1.41 Bn | 1.37 Bn |
| 4 | Revolution Medicines | 43.64 Bn | 43.64 Bn | - | 394.92 Mn |
| 5 | BeOne Medicines | 39.27 Bn | 34.17 Bn | 1.53 Bn | 612.28 Mn |
| 6 | MindWalk Holdings | 35.32 Bn | 35.31 Bn | 1.82 Bn | 1,146.05 |
| 7 | Royalty Pharma | 33.72 Bn | 35.84 Bn | - | 97.90 Mn |
| 8 | Alnylam Pharmaceuticals | 30.58 Bn | 27.27 Bn | 992.69 Mn | 413.13 Mn |
| 9 | Insmed | 27.01 Bn | 25.85 Bn | 358.27 Mn | 210.03 Mn |
| 10 | X4 Pharmaceuticals | 533.17 Mn | 338.08 Mn | 7.19 Mn | 15.08 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 15.08 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 |
| Jun 30, 2021 | 13.19 Mn |