| __timestamp | Iovance Biotherapeutics, Inc. | Rhythm Pharmaceuticals, Inc. |
|---|---|---|
| Wednesday, January 1, 2014 | 2704597 | 5280000 |
| Thursday, January 1, 2015 | 15470000 | 7148000 |
| Friday, January 1, 2016 | 28037000 | 19594000 |
| Sunday, January 1, 2017 | 71615000 | 22894000 |
| Monday, January 1, 2018 | 99828000 | 50337000 |
| Tuesday, January 1, 2019 | 166023000 | 109450000 |
| Wednesday, January 1, 2020 | 201727000 | 90450000 |
| Friday, January 1, 2021 | 259039000 | 104128000 |
| Saturday, January 1, 2022 | 294781000 | 108630000 |
| Sunday, January 1, 2023 | 344077000 | 134951000 |
In pursuit of knowledge
In the dynamic world of biotechnology, research and development (R&D) spending is a critical indicator of a company's commitment to innovation. Over the past decade, Iovance Biotherapeutics, Inc. and Rhythm Pharmaceuticals, Inc. have demonstrated significant growth in their R&D investments.
From 2014 to 2023, Iovance Biotherapeutics increased its R&D expenses by an impressive 12,600%, starting from a modest $2.7 million to a substantial $344 million. This growth underscores Iovance's dedication to advancing its therapeutic pipeline. Meanwhile, Rhythm Pharmaceuticals also showed a robust increase of over 2,500% in R&D spending, reaching $135 million in 2023.
These investments highlight the competitive nature of the biotech industry, where innovation is key to survival and success. As these companies continue to invest in R&D, they are not only enhancing their product offerings but also contributing to the broader advancement of medical science.
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