In Q1'26, RXRX's total operating expenses reached $122.5M USD, comprising $88M USD in R&D expenses and $34.6M USD in SG&A expenses, reflecting a decline from the prior quarter's peak. From Q2'23 to Q1'26, R&D expenses exhibited strong growth, surging from $55.1M USD to a high of $129.6M USD in Q1'25 before tapering to $88M USD, indicating a shift from aggressive investment to moderation. SG&A expenses showed steady increases to $77.2M USD in Q4'24, followed by a consistent downward trend to $34.6M USD, resulting in overall operating expenses that escalated rapidly through 2024 before stabilizing and declining in 2025-26, suggesting improved cost control amid evolving business priorities.