Security
Upstream Bio, Inc. Common Stock · UPB
UPBNASDAQCommon stockCurrentCIK 2022626Updated Oct 30, 2026
UPB price & chart
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NASDAQ:UPB on TradingView ↗About the company
Upstream Bio is a clinical-stage biotechnology company developing treatments for severe inflammatory respiratory diseases. The Company is developing verekitug, the only known antagonist currently in clinical development that targets and inhibits the receptor for thymic stromal lymphopoietin (TSLP), a cytokine which is a clinically validated driver of inflammatory response positioned upstream of multiple inflammatory pathways. With more than 500 participants treated with verekitug across its clinical development programs and positive Phase 2 results in chronic rhinosinusitis with nasal polyps (CRSwNP) and severe asthma, verekitug has a substantial body of clinical evidence supporting its advancement into Phase 3 development in both diseases. Verekitug is also being evaluated in an ongoing Phase 2 trial in chronic obstructive pulmonary disease (COPD). Upstream Bio is focused on leveraging verekitug’s differentiated mechanism, potency, and potential for extended dosing to develop a treatment that may deliver best-in-class efficacy and quarterly dosing for patients underserved by today’s standard of care. To learn more, please visit www.upstreambio.com.
In the news
Upstream Bio to Present New Data from Phase 2 VIBRANT Trial of Verekitug at the ATS 2026 International Conference ↗
Recent filings
SCHEDULE 13G/A - filed by Decheng Capital Global Life Sciences Fund IV, L.P. regarding Upstream Bio, Inc.
4 filing
4 filing
Regulation FD Disclosure · Other Events
Items 7.01, 8.01, 9.01
SCHEDULE 13G/A - filed by NORGES BANK regarding Upstream Bio, Inc.
Show 5 more recent filings
Financials
FY 2025 · USDSource
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balance sheet · annual statements
| Line item | Q3 2025 | Q3 2024 | Q2 2026 | Q2 2025 | Q2 2024 | Q1 2026 | Q1 2025 | Q1 2024 | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||||
| AssetsUSD | 391,195,000Source | 232,700,000Source | 281,171,000Source | 420,521,000Source | — | 318,054,000Source | 456,169,000Source | — | 353,772,000Source | 481,719,000Source | 117,198,000Source |
| Property, Plant and Equipment, NetUSD | 616,000Source | 578,000Source | 460,000Source | 544,000Source | — | 510,000Source | 539,000Source | — | 559,000Source | 582,000Source | 159,000Source |
| GoodwillUSD | — | — | — | — | — | — | — | — | — | 0Source | — |
| Current assets: | |||||||||||
| Cash and Cash Equivalents, at Carrying ValueUSD | 72,164,000Source | 32,948,000Source | 79,397,000Source | 45,458,000Source | 47,336,000Source | 96,724,000Source | 71,312,000Source | 31,510,000Source | 101,578,000Source | 325,892,000Source | 25,833,000Source |
| Accounts Receivable, after Allowance for Credit Loss, CurrentUSD | 683,000Source | 607,000Source | 772,000Source | 937,000Source | — | 1,034,000Source | 566,000Source | — | 668,000Source | 613,000Source | 98,000Source |
| Assets, CurrentUSD | 389,017,000Source | 227,273,000Source | 279,602,000Source | 418,272,000Source | — | 316,279,000Source | 453,787,000Source | — | 351,797,000Source | 479,160,000Source | 116,996,000Source |
| Prepaid Expense and Other Assets, CurrentUSD | 15,907,000Source | 6,007,000Source | 17,523,000Source | 23,754,000Source | — | 20,666,000Source | 21,841,000Source | — | 9,620,000Source | 8,096,000Source | 7,088,000Source |
| Operating Lease, Right-of-Use AssetUSD | 1,368,000Source | 1,914,000Source | 915,000Source | 1,511,000Source | — | 1,071,000Source | 1,649,000Source | — | 1,222,000Source | 1,783,000Source | 43,000Source |
| LIABILITIES AND EQUITY | |||||||||||
| LiabilitiesUSD | 12,611,000Source | 12,137,000Source | 10,214,000Source | 11,778,000Source | — | 14,059,000Source | 10,559,000Source | — | 14,001,000Source | 11,867,000Source | 9,389,000Source |
| Stockholders’ equity: | |||||||||||
| Common Stock, Value, IssuedUSD | 56,000Source | 3,000Source | 54,000Source | 54,000Source | — | 54,000Source | 53,000Source | — | 54,000Source | 53,000Source | 3,000Source |
| Additional Paid in CapitalUSD | 669,799,000Source | 8,873,000Source | 685,542,000Source | 666,447,000Source | — | 678,655,000Source | 663,239,000Source | — | 673,410,000Source | 660,604,000Source | 4,824,000Source |
| Retained Earnings (Accumulated Deficit)USD | -291,764,000Source | -169,538,000Source | -414,516,000Source | -258,016,000Source | — | -374,814,000Source | -218,050,000Source | — | -334,223,000Source | -190,780,000Source | -127,974,000Source |
| Accumulated Other Comprehensive Income (Loss), Net of TaxUSD | 493,000Source | 351,000Source | -123,000Source | 258,000Source | — | 100,000Source | 368,000Source | — | 530,000Source | -25,000Source | 21,000Source |
| Stockholders' Equity Attributable to ParentUSD | 378,584,000Source | -160,311,000Source | 270,957,000Source | 408,743,000Source | -146,607,000Source | 303,995,000Source | 445,610,000Source | -133,407,000Source | 339,771,000Source | 469,852,000Source | -123,126,000Source |
| Liabilities and EquityUSD | 391,195,000Source | 232,700,000Source | 281,171,000Source | 420,521,000Source | — | 318,054,000Source | 456,169,000Source | — | 353,772,000Source | 481,719,000Source | 117,198,000Source |
| Current liabilities: | |||||||||||
| Liabilities, CurrentUSD | 11,908,000Source | 10,874,000Source | 9,988,000Source | 10,929,000Source | — | 13,669,000Source | 9,567,000Source | — | 13,452,000Source | 10,737,000Source | 6,515,000Source |
| Operating Lease, Liability, CurrentUSD | 716,000Source | 678,000Source | 728,000Source | 712,000Source | — | 724,000Source | 708,000Source | — | 720,000Source | 704,000Source | 45,000Source |
| Accounts Payable, CurrentUSD | 3,952,000Source | 4,899,000Source | 2,314,000Source | 2,551,000Source | — | 1,710,000Source | 4,718,000Source | — | 2,726,000Source | 4,041,000Source | 1,990,000Source |
| Operating Lease, Liability, NoncurrentUSD | 703,000Source | 1,263,000Source | 226,000Source | 849,000Source | — | 390,000Source | 992,000Source | — | 549,000Source | 1,130,000Source | — |
| Additional Financial Items | |||||||||||
| Short-term InvestmentsUSD | 300,263,000Source | 187,711,000Source | 181,910,000Source | 348,123,000Source | — | 197,855,000Source | 360,068,000Source | — | 239,931,000Source | 144,559,000Source | 83,977,000Source |
cash flow · annual statements
| Line item | Q4 2025 | Q4 2024 | Q3 2025 | Q3 2024 | Q2 2026 | Q2 2025 | Q1 2026 | Q1 2025 | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||||||||
| Net Income (Loss), Including Portion Attributable to Noncontrolling InterestUSD | — | — | — | — | — | — | -40,591,000Source | -27,270,000Source | -143,443,000Source | -62,806,000Source | -20,537,000Source |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Depreciation, Depletion and AmortizationUSD | — | — | — | — | — | — | 49,000Source | 43,000Source | 188,000Source | 89,000Source | 60,000Source |
| Share-based Payment Arrangement, Noncash ExpenseUSD | — | — | — | — | — | — | 4,647,000Source | 2,635,000Source | 10,332,000Source | 6,004,000Source | 3,325,000Source |
| Changes in operating assets and liabilities: | |||||||||||
| Increase (Decrease) in Accounts PayableUSD | — | — | — | — | — | — | -1,016,000Source | 711,000Source | -1,281,000Source | 2,017,000Source | 1,278,000Source |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | — | — | — | — | — | — | -47,852,000Source | -41,165,000Source | -133,275,000Source | -59,172,000Source | -37,926,000Source |
| Cash flows from investing activities: | |||||||||||
| Net Cash Provided by (Used in) Investing ActivitiesUSD | — | — | — | — | — | — | 42,400,000Source | -213,381,000Source | -93,480,000Source | -59,485,000Source | -82,842,000Source |
| Payments to Acquire Property, Plant, and EquipmentUSD | — | — | — | — | — | — | — | — | 165,000Source | 511,000Source | 144,000Source |
| Cash flows from financing activities: | |||||||||||
| Net Cash Provided by (Used in) Financing ActivitiesUSD | — | — | — | — | — | — | 598,000Source | -34,000Source | 2,441,000Source | 418,910,000Source | 129,550,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate EffectUSD | — | — | — | — | — | — | -4,854,000Source | -254,580,000Source | -224,314,000Source | 300,253,000Source | 8,782,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | — | — | 72,358,000Source | 33,142,000Source | 79,591,000Source | 45,652,000Source | 96,918,000Source | 71,506,000Source | 101,772,000Source | 326,086,000Source | 25,833,000Source |
| Additional Financial Items | |||||||||||
| Share-based Payment Arrangement, ExpenseUSD | — | — | 2,594,000Source | 1,863,000Source | 4,354,000Source | 2,597,000Source | 4,647,000Source | 2,635,000Source | 10,332,000Source | 6,004,000Source | 3,427,000Source |
| General and Administrative ExpenseUSD | — | — | 5,542,000Source | 4,067,000Source | 7,052,000Source | 7,419,000Source | 8,084,000Source | 6,782,000Source | 26,409,000Source | 17,168,000Source | 10,695,000Source |
| GoodwillUSD | — | — | — | — | — | — | — | — | — | 0Source | — |
| Income Tax Expense (Benefit)USD | — | — | — | — | — | — | 0Source | 0Source | 0Source | 0Source | 0Source |
| Investment Income, InterestUSD | — | — | 4,105,000Source | 2,904,000Source | 2,659,000Source | 4,431,000Source | 3,054,000Source | 4,743,000Source | 16,933,000Source | 12,123,000Source | 4,165,000Source |
| Net Income (Loss) Attributable to ParentUSD | — | — | -33,748,000Source | -15,992,000Source | -39,702,000Source | -39,966,000Source | -40,591,000Source | -27,270,000Source | -143,443,000Source | -62,806,000Source | -20,537,000Source |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | — | — | -33,748,000Source | -21,033,000Source | — | -39,966,000Source | — | -27,270,000Source | -143,443,000Source | -76,395,000Source | -38,255,000Source |
| Nonoperating Income (Expense)USD | — | — | 4,086,000Source | 2,901,000Source | 2,666,000Source | 4,381,000Source | 3,024,000Source | 4,743,000Source | 16,918,000Source | 14,958,000Source | 19,577,000Source |
| Operating ExpensesUSD | — | — | 38,517,000Source | 19,500,000Source | 43,141,000Source | 45,284,000Source | 44,649,000Source | 32,579,000Source | 163,215,000Source | 80,134,000Source | 42,494,000Source |
| Proceeds from Stock Options ExercisedUSD | — | — | — | — | — | — | 598,000Source | 0Source | 2,279,000Source | 159,000Source | 118,000Source |
income statement · annual statements
| Line item | Q4 2025 | Q4 2024 | Q3 2025 | Q3 2024 | Q2 2026 | Q2 2025 | Q1 2026 | Q1 2025 | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Total RevenueUSD | — | — | 683,000Source | 607,000Source | 773,000Source | 937,000Source | 1,034,000Source | 566,000Source | 2,854,000Source | 2,370,000Source | 2,380,000Source |
| Operating Income (Loss)USD | — | — | -37,834,000Source | -18,893,000Source | -42,368,000Source | -44,347,000Source | -43,615,000Source | -32,013,000Source | -160,361,000Source | -77,764,000Source | -40,114,000Source |
| Income Tax Expense (Benefit)USD | — | — | — | — | — | — | 0Source | 0Source | 0Source | 0Source | 0Source |
| Net Income (Loss) Attributable to ParentUSD | — | — | -33,748,000Source | -15,992,000Source | -39,702,000Source | -39,966,000Source | -40,591,000Source | -27,270,000Source | -143,443,000Source | -62,806,000Source | -20,537,000Source |
| Earnings Per Share, BasicUSD per share | — | — | -0.63Source | -6.96Source | -0.73Source | -0.74Source | -0.75Source | -0.51Source | -2.66Source | -5.58Source | -12.95Source |
| Earnings Per Share, DilutedUSD per share | — | — | -0.63Source | -6.96Source | -0.73Source | -0.74Source | -0.75Source | -0.51Source | -2.66Source | -5.58Source | -12.95Source |
| Weighted Average Number of Shares Outstanding, Basicshares | — | — | 53,930,946Source | 3,023,155Source | 54,567,976Source | 53,770,868Source | 54,332,319Source | 53,617,723Source | 53,852,752Source | 13,682,326Source | 2,953,756Source |
| Weighted Average Number of Shares Outstanding, Dilutedshares | — | — | 53,930,946Source | 3,023,155Source | 54,567,976Source | 53,770,868Source | 54,332,319Source | 53,617,723Source | 53,852,752Source | 13,682,326Source | 2,953,756Source |
| Additional Financial Items | |||||||||||
| General and Administrative ExpenseUSD | — | — | 5,542,000Source | 4,067,000Source | 7,052,000Source | 7,419,000Source | 8,084,000Source | 6,782,000Source | 26,409,000Source | 17,168,000Source | 10,695,000Source |
| Interest Income (Expense), Nonoperating, NetUSD | — | — | — | 2,900,000Source | — | — | — | — | 16,900,000Source | 12,100,000Source | 4,200,000Source |
| Investment Income, InterestUSD | — | — | 4,105,000Source | 2,904,000Source | 2,659,000Source | 4,431,000Source | 3,054,000Source | 4,743,000Source | 16,933,000Source | 12,123,000Source | 4,165,000Source |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | — | — | -33,748,000Source | -21,033,000Source | — | -39,966,000Source | — | -27,270,000Source | -143,443,000Source | -76,395,000Source | -38,255,000Source |
| Nonoperating Income (Expense)USD | — | — | 4,086,000Source | 2,901,000Source | 2,666,000Source | 4,381,000Source | 3,024,000Source | 4,743,000Source | 16,918,000Source | 14,958,000Source | 19,577,000Source |
| Operating ExpensesUSD | — | — | 38,517,000Source | 19,500,000Source | 43,141,000Source | 45,284,000Source | 44,649,000Source | 32,579,000Source | 163,215,000Source | 80,134,000Source | 42,494,000Source |
| Other General and Administrative ExpenseUSD | — | — | 891,000Source | 348,000Source | 1,186,000Source | 1,249,000Source | 1,113,000Source | 1,054,000Source | 4,503,000Source | 1,977,000Source | 996,000Source |
| Research and Development ExpenseUSD | — | — | 32,975,000Source | 15,433,000Source | 36,089,000Source | 37,865,000Source | 36,565,000Source | 25,797,000Source | 136,806,000Source | 62,966,000Source | 31,799,000Source |
Filing attachments
upb-ex99_1.htm · 8-K · 2026-09-01
EX-99.1 2 upb-ex99_1.htm EX-99.1 EX-99.1 Upstream Bio Announces Pivotal Phase 3 Development Plans for Verekitug in Both Severe Asthma and CRSwNP - Following productive FDA discussions, Upstream Bio will study 400mg of verekitug administered every 12 weeks, versus placebo, in severe asthma and CRSwNP with one pivotal Phase 3 trial in each indication - - The Company’s Phase 3 strategy is designed to deliver best-in-class efficacy across both indications by evaluating a high-dose, quarterly …
Read attachment ↗upb-ex99_1.htm · 8-K · 2026-08-11
EX-99.1 2 upb-ex99_1.htm EX-99.1 EX-99.1 Upstream Bio Reports Second Quarter 2026 Financial Results and Highlights Continued Progress - Company rapidly advancing toward Q1 2027 initiation of Phase 3 trials designed to deliver best-in-class efficacy with convenient quarterly dosing in both severe asthma and CRSwNP; End-of-Phase 2 interactions with FDA on track - - Completed enrollment in Phase 2 trial in COPD; data expected in the second half of 2027 - - Clinical data presentations contin…
Read attachment ↗upb-ex99_1.htm · 8-K · 2026-05-13
EX-99.1 2 upb-ex99_1.htm EX-99.1 EX-99.1 Upstream Bio Reports First Quarter 2026 Financial Results and Recent Business Highlights - Company rapidly advancing Phase 3 programs designed to deliver best-in-class efficacy with convenient quarterly dosing in severe asthma and CRSwNP - - End-of-Phase 2 meetings with FDA planned for mid-2026; Phase 3 initiations in both indications expected in Q1 2027 - - Phase 2 VENTURE trial in COPD ongoing; Company to cap further enrollment; data now expecte…
Read attachment ↗upb-ex99_1.htm · 8-K · 2026-03-26
EX-99.1 2 upb-ex99_1.htm EX-99.1 EX-99.1 Upstream Bio Highlights Phase 3 Development Strategy for Verekitug and Reports Fourth Quarter and Full Year 2025 Financial Results - Company to pursue Phase 3 development strategy designed to deliver best-in-class efficacy with a high-dose quarterly regimen in broad patient populations in both severe asthma and CRSwNP - - Company plans to initiate dosing in Phase 3 trials in both severe asthma and CRSwNP in Q1 2027 - - Reported positive top-line r…
Read attachment ↗d103888dex991.htm · 8-K · 2026-02-11
Top-line Results for the Phase 2 VALIANT Trial in Severe Asthma February 11, 2026 © 2026 Upstream Bio, Inc. Exhibit 99.1 This presentation contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. These statements may be identified by words such as “aims,” “anticipates,” “believes,” “continue,” “could,” “estimates,” “expects,” “forecasts,” “goal,” “intends,” “may,” “plans,” “poss…
Read attachment ↗d44802dex991.htm · 8-K · 2026-02-11
Exhibit 99.1 Upstream Bio Reports Positive Top-line Results from the Phase 2 VALIANT Trial of Verekitug for the Treatment of Severe Asthma - Verekitug provided statistically significant and clinically meaningful reductions in annualized asthma exacerbation rate (AAER) with 100 mg q12 and 400 mg q24 week dosing - - Verekitug also delivered clinically meaningful improvements in lung function (FEV 1 ) and exhaled nitric oxide (FeNO) with both dose regimens - - Verekitug was generally well tole…
Read attachment ↗