Quick Answer
Annexon, Inc. reported R&D Expense of $184.70 million for fiscal year 2025.
Annexon, Inc. R&D Expense — Annual History
| Fiscal Year | R&D Expense | YoY Change |
|---|---|---|
| 2025 | $184.70M | +54.6% |
| 2024 | $119.45M | +5.0% |
| 2023 | $113.76M | +1.1% |
| 2022 | $112.50M | +12.4% |
| 2021 | $100.07M | +103.1% |
| 2020 | $49.27M | +100.9% |
| 2019 | $24.52M | — |
Quarterly R&D Expense
| Quarter Ending | R&D Expense | YoY | QoQ |
|---|---|---|---|
| September 30, 2025 | $49.70M | +65.1% | +12.5% |
| June 30, 2025 | $44.16M | +76.5% | -8.3% |
| March 31, 2025 | $48.18M | +129.8% | +60.0% |
| September 30, 2024 | $30.11M | +7.9% | +20.3% |
| June 30, 2024 | $25.03M | -17.3% | +19.4% |
| March 31, 2024 | $20.96M | -35.2% | -24.8% |
| September 30, 2023 | $27.89M | +0.1% | -7.8% |
| June 30, 2023 | $30.25M | +3.9% | -6.5% |
- Annexon, Inc. showed an increase of +54.6% in R&D Expense compared to the prior fiscal year.
- Over the 2019–2025 period, Annexon, Inc.’s r&d expense has grown by 653.1% (from $24.52 million to $184.70 million).
- The most recent figure is from Annexon, Inc.’s fiscal year 2025 report (Form 10-K), filed with the SEC on March 30, 2026.
- All figures are sourced from SEC EDGAR XBRL filings, last verified June 17, 2026.
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