Quick Answer
PALVELLA THERAPEUTICS, INC. reported R&D Expense of $22.84 million for fiscal year 2025.
PALVELLA THERAPEUTICS, INC. R&D Expense — Annual History
| Fiscal Year | R&D Expense | YoY Change |
|---|---|---|
| 2025 | $22.84M | +180.2% |
| 2024 | $8.15M | -7.3% |
| 2023 | $8.79M | -83.4% |
| 2022 | $52.98M | -20.5% |
| 2021 | $66.66M | +43.3% |
| 2020 | $46.53M | -15.4% |
| 2019 | $55.00M | +32.6% |
| 2018 | $41.49M | +86.2% |
| 2017 | $22.29M | +13.1% |
| 2016 | $19.70M | +138.9% |
| 2015 | $8.24M | +47.2% |
| 2014 | $5.60M | -40.5% |
| 2013 | $9.41M | — |
Quarterly R&D Expense
| Quarter Ending | R&D Expense | YoY | QoQ |
|---|---|---|---|
| September 30, 2025 | $6.53M | +105.2% | +27.5% |
| June 30, 2025 | $5.12M | +254.9% | +25.6% |
| March 31, 2025 | $4.07M | +314.0% | +28.0% |
| September 30, 2024 | $3.18M | -66.8% | +120.7% |
| June 30, 2024 | $1.44M | -89.9% | +46.5% |
| March 31, 2024 | $984.0K | -92.7% | -89.7% |
| September 30, 2023 | $9.60M | -29.4% | -33.0% |
| June 30, 2023 | $14.33M | +19.9% | +6.7% |
- PALVELLA THERAPEUTICS, INC. showed an increase of +180.2% in R&D Expense compared to the prior fiscal year.
- Over the 2013–2025 period, PALVELLA THERAPEUTICS, INC.’s r&d expense has grown by 142.7% (from $9.41 million to $22.84 million).
- The most recent figure is from PALVELLA THERAPEUTICS, INC.’s fiscal year 2025 report (Form 10-K), filed with the SEC on March 31, 2026.
- All figures are sourced from SEC EDGAR XBRL filings, last verified June 17, 2026.
Last verified: