What drove the significant increase in PayPal's research and development expenses in Q3 2024?

The significant increase in PayPal's research and development (R&D) expenses in Q3 2024 can be attributed to several key factors:

1. Ongoing SHIELD II Phase 3 Trial: The ramp-up of the SHIELD II Phase 3 trial for D-PLEX100, aimed at preventing abdominal colorectal surgical site infections, was a major driver of the R&D expenses. This clinical trial required significant investment in personnel, facilities, and resources to advance the product candidate.
2. Strategic Pipeline Focus: PayPal has announced a strategic review of its pipeline, focusing on high-impact clinical programs. This intensified focus likely led to increased investment in R&D to accelerate the development of innovative solutions.

In summary, the significant increase in PayPal's R&D expenses in Q3 2024 was primarily due to the ongoing clinical trial and strategic pipeline focus.