VRTX · 10-Q · 2026Q3 · Full report

Operating Expense Trends

VERTEX PHARMACEUTICALS INC / MA · 2026-11-03 · Importance 77 · Surprise 82 · From source text

Research and development expense increased 35% to $1,320.6 million in the third quarter and 12% to $3,276.0 million in the first nine months of 2026.,Development expense rose 42% to $1,091.6 million in the third quarter, including $235.3 million of compensation for cash-settled unvested Crinetics equity awards and higher outsourced services and other direct expenses.,Selling, general and administrative expense increased 90% to $844.1 million in the third quarter and 52% to $1,920.0 million in the first nine months, including $203.0 million of Crinetics-related compensation and transaction costs.,The company also cited increased headcount and commercial investment for JOURNAVX and the anticipated povetacicept IgAN launch; nine-month AIPR&D declined 18% to $62.5 million.

Key facts

• Vertex’s SG&A expenses increased 90% in the third quarter and 52% in the first nine months, primarily due to $203.0 million of Crinetics-related cash-settled equity award compensation and transaction costs, increased headcount, and commercial investment supporting JOURNAVX and a potential IgAN povetacicept launch. source
• Vertex’s development expenses increased 42% in the third quarter and 14% in the first nine months, primarily due to $235.3 million of Crinetics-related cash-settled unvested equity award compensation recorded in the third quarter of 2026 and increased outsourced services and other direct expenses. source
• Vertex’s R&D, AIPR&D and SG&A expenses increased to $2.2 billion in the third quarter from $1.5 billion, primarily due to approximately $500.0 million of Crinetics acquisition compensation and transaction expenses. source
• Vertex’s research expenses increased 9% in the third quarter and 3% in the first nine months, primarily due to compensation expense for cash-settled unvested Crinetics equity awards. source

Impact estimates