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Upstream Bio(NASDAQ) UPB

Market Cap$376.04MMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.
Since IPO (2024)-69%
5 YearN/A
1 Year-61%
1 Month-5%
$6.90
-2.68%
-0.19Today
After hours$6.91+$0.00 (+0.07%)
Upstream Bio last closing stock price
MetricPriceDate
Last closeUSD 6.912026-08-12
Upstream Bio stock price return by period
PeriodPrice returnPrice at period startPeriod start date
1 week+2.52%USD 6.742026-08-05
1 month-5.08%USD 7.282026-07-13
3 month-21.39%USD 8.792026-05-14
Year to date-74.55%USD 27.152025-12-31
1 year-60.51%USD 17.502025-08-12
Since inception-68.59%USD 22.002024-10-11

Upstream Bio Financials at a Glance

Market Cap

$376.04MMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.

Revenue (TTM)

$3.16M

Net Income (TTM)

-$156.50M

EPS (TTM)

-$2.89

P/E Ratio

-2.39

Dividend

$0.00

Beta (Volatility)

1.17 (Average)

Price

$6.90

Volume

635,221.365

Open

$7.00

Previous Close

$6.91

Daily Range

$6.84 - $7.25

52-Week Range

$5.85 - $33.68

Estimated Earnings Date

Aug 5, 2026

UPB News

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Upstream Bio (UPB) Q2 R&D Soars 169%

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About Upstream Bio

Upstream Bio helps people with severe breathing and sinus problems. Their main treatment stops the body from starting a chain reaction of swelling. This helps patients whose current inhalers and pills are not working well enough.

What Upstream Bio Is Developing

  • Verekitug: Monoclonal antibody designed to block the TSLP receptor, a protein that triggers various immune-mediated diseases.
  • Asthma Program: Clinical candidate for severe asthma that showed positive mid-stage results in February 2026.
  • Sinus Program: Treatment for chronic nasal polyps that successfully met its goals in a September 2025 trial.
  • COPD Program: Therapy currently in mid-stage testing for chronic obstructive pulmonary disease, which blocks airflow to the lungs.

Key Moves and Milestones

  • Acquired the rights to verekitug from Astellas Pharma Inc. in 2021 to anchor its development pipeline.
  • Completed an initial public offering on the Nasdaq Global Select Market on October 11, 2024.
  • Launched mid-stage Phase 2 clinical trials for its lung disease program in July 2025.
  • Scheduled the start of late-stage Phase 3 clinical trials for both asthma and sinus treatments in early 2027.

A Different Way to Block Swelling

The company targets a specific receptor that acts as a gateway for inflammation. This method aims to provide more potent and longer-lasting relief than existing therapies that target the inflammatory messengers themselves.

Financial Performance in 2025

  • Net income was -$42.5 million in Q4 2025, which deepened from -$21.2 million in Q4 2024.
  • Operating cash flow reached -$30.6 million in Q4 2025, worsening from -$19.6 million in Q4 2024.
  • Revenue was $668,000 in Q4 2025, up 9% from $613,000 in Q4 2024.
  • Market capitalization grew to $1.5 billion in Q4 2025, up 74.5% year-over-year.

The Bottom Line

Upstream Bio has evolved from a private startup into a public clinical-stage developer. Its focus on a high-potency respiratory treatment positions it to challenge established therapies in the multi-billion dollar asthma and lung disease markets.

AI Generated • May 5, 2026

Industry

Biotechnology

Sector

Health Care

Employees

75

CEO

E. Rand Sutherland, MD

Website

www.upstreambio.com

Headquarters

Waltham, MA 02451, US

UPB Financials

Key Financial Metrics (TTM)

Gross Margin

73.97%

Operating Margin

-5382.65%

Net Income Margin

-4955.67%

Return on Equity

-48.40%

Return on Capital

-47.02%

Return on Assets

-55.66%

Earnings Yield

-41.84%

Dividend Yield

0.00%

Payout Ratio

0.00%

Stock Overview

Market Cap

$376.04MMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.

Shares Outstanding

54.42M

Volume

635.22K

Avg. Volume

620.88K

Financials (TTM)

Gross Profit

$2.34M

Operating Income

-$169.98M

EBITDA

-$159.01M

Operating Cash Flow

-$136.34M

Capital Expenditure

$0.00

Free Cash Flow

-$136.34M

Cash & ST Invst.

$261.31M

Total Debt

$954.00K

Upstream Bio Performance Analysis

Upstream Bio annual revenue and year-over-year revenue growth by fiscal year
Fiscal yearPeriod endRevenueYoY growth
20222022-12-31USD 1,212,000N/A
20232023-12-31USD 2,380,00096.4%
20242024-12-31USD 2,370,000-0.4%
20252025-12-31USD 2,854,00020.4%
Upstream Bio sequential (quarter-over-quarter) revenue growth by fiscal quarter
Fiscal quarterPeriod endQoQ growth
Q32025-09-30-27.1%
Q42025-12-31-2.2%
Q12026-03-3154.8%
Q22026-06-30-25.2%
Upstream Bio annual diluted earnings per share and year-over-year EPS growth by fiscal year
Fiscal yearPeriod endDiluted EPSYoY growth
20222022-12-31USD -0.45N/A
20232023-12-31USD -0.7160.3%
20242024-12-31USD -1.4399.7%
20252025-12-31USD -2.6686.9%
Upstream Bio sequential (quarter-over-quarter) diluted earnings per share growth by fiscal quarter
Fiscal quarterPeriod endQoQ growth
Q32025-09-3014.9%
Q42025-12-31-25.4%
Q12026-03-315.1%
Q22026-06-302.7%

Revenue Growth Rate

Annual and quarterly growth comparison

Earnings Per Share Growth Rate

Annual and quarterly EPS growth comparison

Quarterly Performance

Name
Q2 2026YOY CHG

Revenue

$773.00K

-17.5%

Gross Profit

$0.00

-100.0%

Gross Margin

0.00%

N/A

Market Cap

$376.04MMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.

N/A

Market Cap/Employee

$5.01M

N/A

Employees

75

N/A

Net Income

-$39.70M

+0.7%

EBITDA

-$42.37M

-6.1%

Quarterly Fundamentals

Name
Q2 2026YOY CHG

Total Cash

$261.31M

-33.6%

Total Debt

$954.00K

-38.9%

Accounts Receivable

$772.00K

-70.8%

Inventory

$0.00

N/A

Long Term Debt

$226.00K

-73.4%

Short Term Debt

$728.00K

+2.2%

Return on Assets

-55.66%

N/A

Return on Invested Capital

-62.68%

N/A

Free Cash Flow

-$35.62M

+9.3%

Operating Cash Flow

-$35.62M

+9.2%

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Questions About UPB

What is the current price of Upstream Bio?

Upstream Bio is trading at $6.91 per share.

What is the 52-week range for Upstream Bio?

Over the past 52 weeks, Upstream Bio has traded between $5.85 and $33.68.

How much debt does Upstream Bio have?

As of the most recent reporting period, Upstream Bio reported total debt of $954.00K.

How much cash does Upstream Bio have on hand?

Upstream Bio reported $79.40M in cash and cash equivalents in its most recent financial results.

What is Upstream Bio’s dividend yield?

Upstream Bio does not currently have a dividend yield.

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