Quick Answer
Nuvalent, Inc. reported R&D Expense of $306.97 million for fiscal year 2025.
Nuvalent, Inc. R&D Expense — Annual History
| Fiscal Year | R&D Expense | YoY Change |
|---|---|---|
| 2025 | $306.97M | +41.0% |
| 2024 | $217.77M | +92.3% |
| 2023 | $113.24M | +77.7% |
| 2022 | $63.73M | +79.2% |
| 2021 | $35.56M | +130.9% |
| 2020 | $15.40M | — |
Quarterly R&D Expense
| Quarter Ending | R&D Expense | YoY | QoQ |
|---|---|---|---|
| September 30, 2025 | $83.84M | +38.5% | +3.6% |
| June 30, 2025 | $80.91M | +64.6% | +8.7% |
| March 31, 2025 | $74.42M | +92.6% | +22.9% |
| September 30, 2024 | $60.55M | +104.5% | +23.2% |
| June 30, 2024 | $49.17M | +89.7% | +27.3% |
| March 31, 2024 | $38.63M | +74.6% | +30.5% |
| September 30, 2023 | $29.61M | +102.5% | +14.2% |
| June 30, 2023 | $25.92M | +91.2% | +17.2% |
- Nuvalent, Inc. showed an increase of +41.0% in R&D Expense compared to the prior fiscal year.
- Over the 2020–2025 period, Nuvalent, Inc.’s r&d expense has grown by 1892.9% (from $15.40 million to $306.97 million).
- The most recent figure is from Nuvalent, Inc.’s fiscal year 2025 report (Form 10-K), filed with the SEC on February 26, 2026.
- All figures are sourced from SEC EDGAR XBRL filings, last verified June 17, 2026.
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