Quick Answer
PAVmed Inc. reported R&D Expense of $4.49 million for fiscal year 2025.
PAVmed Inc. R&D Expense — Annual History
| Fiscal Year | R&D Expense | YoY Change |
|---|---|---|
| 2025 | $4.49M | -24.3% |
| 2024 | $5.93M | -58.4% |
| 2023 | $14.28M | -43.7% |
| 2022 | $25.34M | +27.7% |
| 2021 | $19.85M | +81.0% |
| 2020 | $10.96M | +65.4% |
| 2019 | $6.63M | +55.9% |
| 2018 | $4.25M | +62.2% |
| 2017 | $2.62M | +52.5% |
| 2016 | $1.72M | +251.4% |
| 2015 | $489.3K | — |
Quarterly R&D Expense
| Quarter Ending | R&D Expense | YoY | QoQ |
|---|---|---|---|
| September 30, 2025 | $1.09M | -29.4% | +37.7% |
| June 30, 2025 | $790.0K | -51.9% | +0.4% |
| March 31, 2025 | $787.0K | -59.5% | -49.0% |
| September 30, 2024 | $1.54M | -51.2% | -6.0% |
| June 30, 2024 | $1.64M | -52.7% | -15.5% |
| March 31, 2024 | $1.94M | -52.1% | -38.6% |
| September 30, 2023 | $3.16M | -49.0% | -8.9% |
| June 30, 2023 | $3.47M | -48.5% | -14.3% |
- PAVmed Inc. showed a decrease of -24.3% in R&D Expense compared to the prior fiscal year.
- Over the 2015–2025 period, PAVmed Inc.’s r&d expense has grown by 818.0% (from $489.3 thousand to $4.49 million).
- The most recent figure is from PAVmed Inc.’s fiscal year 2025 report (Form 10-K), filed with the SEC on March 27, 2026.
- All figures are sourced from SEC EDGAR XBRL filings, last verified June 17, 2026.
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