Welcome to our dedicated page for UpStream Bio SEC filings (Ticker: UPB), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
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Upstream Bio (UPB) Q2 2025 10-Q highlights. The clinical-stage biotech recorded collaboration revenue of $0.94 m (+84% YoY), while R&D expense jumped 169 % to $37.9 m as Phase 2 programs for verekitug in severe asthma, CRSwNP and COPD advanced. Total operating costs rose to $45.3 m, pushing the quarterly net loss to $40.0 m (-173 % YoY) or $(0.74) per share.
Despite the widening loss, liquidity remains robust: cash, cash equivalents and short-term investments total $393.6 m against only $11.8 m of liabilities. Operating cash burn was $80.4 m for the first half, but management believes existing resources fund operations 鈥渢hrough 2027.鈥� Interest income of $4.4 m partially offset expenses.
Pipeline momentum continues: CRSwNP Phase 2 enrollment completed Jan-25 with top-line data expected Q3-25; severe asthma Phase 2 enrollment finished Jun-25 with read-out due Q1-26; COPD Phase 2 began Jul-25. The filing reiterates typical biotech risks, notably single-asset dependence and future financing needs.
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