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Upstream Bio (UPB)

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Upstream Bio, Inc. is a clinical-stage biotechnology company developing medicines for inflammatory and immune-mediated diseases, with an initial emphasis on severe respiratory conditions. The company’s lead program is verekitug, an antibody designed to block the receptor for thymic stromal lymphopoietin, or TSLP. TSLP is an epithelial cytokine that sits high in the inflammatory cascade and can influence multiple downstream immune pathways involved in allergic and inflammatory disease.

The company’s approach is based on targeting inflammation early, before several signals amplify disease activity. This makes TSLP biology relevant to conditions such as severe asthma, chronic rhinosinusitis with nasal polyps, and chronic obstructive pulmonary disease, where existing therapies may not adequately control symptoms for all patients. By focusing on the TSLP receptor rather than a single downstream cytokine, verekitug is intended to address a broad set of inflammatory drivers.

Upstream Bio is advancing verekitug through placebo-controlled, randomized Phase 2 studies across multiple respiratory indications. Its clinical work includes programs in chronic rhinosinusitis with nasal polyps and severe asthma, as well as an ongoing study in COPD. As with other development-stage biotechnology companies, Upstream Bio does not primarily compete through commercial sales today; its value is closely tied to clinical data, safety results, regulatory progress, manufacturing execution, and the potential market need for new biologic therapies.

For investors, UPB is a biotechnology stock centered on a single lead asset with possible use across several large disease areas. That creates significant upside if trials validate the drug’s profile, but also exposes the company to the high scientific, regulatory, and financing risks typical of clinical-stage drug development.

7.63 USD
7.08 USD
+0.38 (+5.24%)
After-hours

Last updated

Market Cap
415.22M
P/E
P/FCF
P/S
124.99
Enterprise Value
318.5M
Sector
Health Care
Industry
Pharmaceutical Preparations
Address
890 WINTER STREET, SUITE 200, WALTHAM, MA, 02451
GlobeNewswire Inc.

Chronic Obstructive Pulmonary Disease Clinical Trial Landscape Expands: Over 65 Companies Advancing Next-Generation Therapies | DelveInsight

Apr 23, 2026, 13:00 PM
GlobeNewswire Inc.

Severe Asthma Clinical Trial Pipeline Appears Robust With 30+ Key Pharma Companies Actively Working in the Therapeutics Segment | DelveInsight | DelveInsight

Apr 07, 2026, 13:00 PM
GlobeNewswire Inc.

Upstream Bio Presents Additional Analyses from the Phase 2 VIBRANT Trial of Verekitug in Chronic Rhinosinusitis with Nasal Polyps at 2026 AAAAI Annual Meeting

Mar 01, 2026, 09:45 AM
GlobeNewswire Inc.

Upstream Bio to Present Additional Analyses from Phase 2 VIBRANT Trial in Chronic Rhinosinusitis with Nasal Polyps in Late-Breaking Session at AAAAI Annual Meeting 2026

Feb 26, 2026, 07:00 AM
GlobeNewswire Inc.

Upstream Bio to Participate in Upcoming March Investor Conferences

Feb 25, 2026, 07:00 AM
GlobeNewswire Inc.

Upstream Bio to Host Webcast to Report Top-Line Results from the Phase 2 VALIANT Trial of Verekitug in Patients with Severe Asthma

Feb 10, 2026, 18:00 PM
GlobeNewswire Inc.

Upstream Bio to Participate in Upcoming November Investor Conferences

Oct 31, 2025, 07:00 AM
GlobeNewswire Inc.

Translational Data Illustrate a Mechanism of Greater Potency with Verekitug, a Novel Antibody Antagonist of the TSLP Receptor

Jun 15, 2025, 07:45 AM
GlobeNewswire Inc.

Upstream Bio to Present Mechanistic Insights into Verekitug’s Enhanced Potency via TSLP Receptor Targeting at European Academy of Allergy and Clinical Immunology (EAACI) Congress 2025

Jun 05, 2025, 07:00 AM
Market Cap
415.22M
Enterprise Value
318.5M
P/E
P/B
1.37
P/S
124.99
EV / EBITDA
-1.85
EV / Sales
95.88
EPS
-2.88
Dividend Yield
0%
P/FCF
P/CF
Free Cash Flow
-140.13M
ROE
-51.57%
ROA
-49.29%
Debt / Equity
0
Current Ratio
23.14
Quick Ratio
23.14
Cash
7.08
Avg Volume
532.34K
Fundamentals Snapshot Price
7.63

Income Statement

Line Item 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1
Revenue 1.03M 668K 683K 937K 566K
Gross profit 1.03M 668K 683K 937K 566K
Operating income -43.62M -46.17M -37.83M -44.35M -32.01M
EBITDA -43.57M -46.11M -37.79M -44.31M -31.97M
Net income -40.59M -42.46M -33.75M -39.97M -27.27M
Basic EPS -0.75 -0.78 -0.63 -0.74 -0.51
Diluted EPS -0.75 -0.78 -0.63 -0.74 -0.51

Balance Sheet

Line Item 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1
Total assets 318.05M 353.77M 391.2M 420.52M 456.17M
Total liabilities 14.06M 14M 12.61M 11.78M 10.56M
Total equity 304M 339.77M 378.58M 408.74M 445.61M
Cash & equivalents 96.72M 101.58M 72.16M 45.46M 71.31M
Current assets 316.28M 351.8M 389.02M 418.27M 453.79M
Current liabilities 13.67M 13.45M 11.91M 10.93M 9.57M

Cash Flow

Line Item 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1
Operating cash flow -47.85M -30.63M -22.24M -39.24M -41.17M
Investing cash flow 42.4M 58.94M 48.19M 12.77M -213.38M
Financing cash flow 598K 1.1M 760K 612K -34K
Change in cash -4.85M 29.41M 26.71M -25.85M -254.58M
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form 4 Form 4 — GRAY MICHAEL View Filing
edgar index SCHEDULE 13G/A — Upstream Bio, Inc. View Filing
edgar index SCHEDULE 13G/A — Upstream Bio, Inc. View Filing
edgar index 8-K — Upstream Bio, Inc. View Filing
edgar index 10-Q — Upstream Bio, Inc. View Filing
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edgar index SCHEDULE 13G — Upstream Bio, Inc. View Filing
edgar index 8-K — Upstream Bio, Inc. View Filing
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edgar index SCHEDULE 13G/A — Upstream Bio, Inc. View Filing
edgar index 8-K — Upstream Bio, Inc. View Filing
edgar index 10-Q — Upstream Bio, Inc. View Filing
eight k text 8-K — 8-K View Filing
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edgar index 4 — Upstream Bio, Inc. View Filing
edgar index 4 — Upstream Bio, Inc. View Filing
edgar index 4 — Upstream Bio, Inc. View Filing
edgar index 8-K — Upstream Bio, Inc. View Filing
edgar index 4 — Upstream Bio, Inc. View Filing
edgar index 4 — Upstream Bio, Inc. View Filing
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edgar index 8-K — Upstream Bio, Inc. View Filing
edgar index 10-Q — Upstream Bio, Inc. View Filing