X4 Pharmaceuticals (XFOR) Research & Development (2017 - 2026)
X4 Pharmaceuticals (XFOR) reported Research & Development of $15.08 million for Q2 2026, down 17.8% from $18.35 million a year earlier and down 2.4% from the prior quarter.
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Analysis
X4 Pharmaceuticals (XFOR) Research & Development (2017 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, X4 Pharmaceuticals' Research & Development came in at $66.39 million, down 14.6% year-over-year; for FY2025, it came in at $72.72 million, down 10.9% from FY2024.
- Research & Development has a five-year compound annual growth rate of 11.6% (FY2020 to FY2025).
- By year, Research & Development came in at $81.64 million in FY2024 (+13.4%), $72.02 million in FY2023 (+17.9%), $61.06 million in FY2022 (+20.6%) and $50.65 million in FY2021 (+20.8%).
- The Q2 2026 figure ranks as the lowest quarterly Research & Development since Q3 2022.
- Year over year, Research & Development has now declined in each of the last six quarters, with an average decline of 4.4% over the last eight quarters.
- The high point for year-over-year Research & Development in five years was Q4 2022 (growth of 56.3%); the low point was Q4 2023 (a decline of 19.7%).
- Per Business Quant data, the three quarters before Q2 2026 came in at $15.45 million (Q1 2026), $18.52 million (Q4 2025) and $17.34 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Johnson & Johnson | 655.56 Bn | 574.09 Bn | 17.26 Bn | 3.65 Bn |
| 2 | AbbVie | 470.94 Bn | 444.10 Bn | 12.70 Bn | 2.34 Bn |
| 3 | Merck | 367.14 Bn | 321.57 Bn | 12.21 Bn | 9.74 Bn |
| 4 | Novartis Ag | 280.33 Bn | 236.20 Bn | 11.24 Bn | -2.85 Bn |
| 5 | Astrazeneca | 257.78 Bn | 231.34 Bn | 12.86 Bn | -4.05 Bn |
| 6 | Amgen | 226.04 Bn | 181.44 Bn | 7.24 Bn | 1.87 Bn |
| 7 | Gilead Sciences | 188.89 Bn | 163.01 Bn | 6.22 Bn | 1.76 Bn |
| 8 | Pfizer | 163.75 Bn | 110.70 Bn | 10.94 Bn | 2.81 Bn |
| 9 | Vertex Pharmaceuticals | 133.68 Bn | 105.69 Bn | 2.84 Bn | 993.80 Mn |
| 10 | X4 Pharmaceuticals | 381.56 Mn | -317.13 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 |
API Access
X4 Pharmaceuticals Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=XFOR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "XFOR", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=XFOR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();