UPB

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Upstream Bio, Inc.

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Key Metrics

Previous Close: $7.52
52-Week Range: $5.85 – $33.68
Market Cap: $375.18M
P/E (TTM): —
EPS (TTM): -2.88
Dividend Yield: —

Advanced Metrics

Price/Book: 1.23
PEG Ratio: —
Return on Equity: -46.05%
Return on Assets: -30.28%
Gross Margin: 100.00%
Operating Margin: -5480.98%
Profit Margin: 0.00%
Current Ratio: 27.99
Debt/Equity: 0.00
Total Debt: $954.00K
Free Cash Flow: $-86.62M
Revenue Growth: -17.50%
Earnings Growth: —
Enterprise Value: $151.25M

UPB Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$1.21M	$2.38M	$2.37M	$2.85M
Research & Development	$18.66M	$31.80M	$62.97M	$136.81M
Selling, General & Admin	$6.46M	$10.70M	$17.17M	$26.41M
Operating Expenses	$25.12M	$42.49M	$80.13M	$163.22M
Operating Income	-$23.91M	-$40.11M	-$77.76M	-$160.36M
EBITDA	-$23.90M	-$40.05M	-$77.67M	-$160.17M
Pretax Income	-$23.87M	-$20.54M	-$62.81M	-$143.44M
Net Income	-$23.87M	-$20.54M	-$62.81M	-$143.44M
Diluted EPS	-0.66	-1.05	-1.17	-2.64
Diluted Shares	36.32M	36.32M	53.60M	54.24M

UPB Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$17.05M	$25.83M	$325.89M	$101.58M
Receivables	$412.00K	$236.00K	$1.18M	$2.32M
Current Assets	$18.31M	$117.00M	$479.16M	$351.80M
Total Assets	$18.48M	$117.20M	$481.72M	$353.77M
Current Liabilities	$4.86M	$6.51M	$10.74M	$13.45M
Total Debt	$94.00K	$45.00K	$1.83M	$1.27M
Total Liabilities	$124.63M	$240.32M	$11.87M	$14.00M
Retained Earnings	-$107.44M	-$127.97M	-$190.78M	-$334.22M
Shareholders' Equity	-$106.16M	-$123.13M	$469.85M	$339.77M
Working Capital	$13.45M	$110.48M	$468.42M	$338.35M

UPB Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$19.02M	-$37.93M	-$59.17M	-$133.28M
Capital Expenditure	-$82.00K	-$144.00K	-$511.00K	-$165.00K
Free Cash Flow	-$19.10M	-$38.07M	-$59.68M	-$133.44M
Depreciation & Amortisation	$7.00K	$60.00K	$89.00K	$188.00K
Stock-Based Compensation	$1.28M	$3.43M	$6.00M	$10.33M
Investing Cash Flow	-$82.00K	-$82.84M	-$59.48M	-$93.48M
Financing Cash Flow	$9.96M	$129.55M	$418.91M	$2.44M
Net Change in Cash	-$9.14M	$8.78M	$300.25M	-$224.31M

UPB Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$566.00K	$937.00K	$683.00K	$668.00K	$1.03M
Research & Development	$25.80M	$37.87M	$32.98M	$40.17M	$36.56M
Selling, General & Admin	$6.78M	$7.42M	$5.54M	$6.67M	$8.08M
Operating Expenses	$32.58M	$45.28M	$38.52M	$46.84M	$44.65M
Operating Income	-$32.01M	-$44.35M	-$37.83M	-$46.17M	-$43.62M
EBITDA	-$31.97M	-$44.30M	-$37.79M	-$46.11M	-$43.57M
Pretax Income	-$27.27M	-$39.97M	-$33.75M	-$42.46M	-$40.59M
Net Income	-$27.27M	-$39.97M	-$33.75M	-$42.46M	-$40.59M
Diluted EPS	-0.51	-0.74	-0.63	-0.78	-0.75
Diluted Shares	53.64M	53.80M	53.93M	54.24M	54.42M

UPB Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$71.31M	$45.46M	$72.16M	$101.58M	$96.72M
Receivables	$1.74M	$2.64M	$2.31M	$2.32M	$2.61M
Current Assets	$453.79M	$418.27M	$389.02M	$351.80M	$316.28M
Total Assets	$456.17M	$420.52M	$391.19M	$353.77M	$318.05M
Current Liabilities	$9.57M	$10.93M	$11.91M	$13.45M	$13.67M
Total Debt	$1.70M	$1.56M	$1.42M	$1.27M	$1.11M
Total Liabilities	$10.56M	$11.78M	$12.61M	$14.00M	$14.06M
Retained Earnings	-$218.05M	-$258.02M	-$291.76M	-$334.22M	-$374.81M
Shareholders' Equity	$445.61M	$408.74M	$378.58M	$339.77M	$304.00M
Working Capital	$444.22M	$407.34M	$377.11M	$338.35M	$302.61M

UPB Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	-$41.16M	-$39.24M	-$22.24M	-$30.63M	-$47.85M
Capital Expenditure	—	—	-$64.00K	-$54.00K	—
Free Cash Flow	-$41.16M	-$39.29M	-$22.30M	-$30.68M	-$47.85M
Depreciation & Amortisation	$43.00K	$42.00K	$46.00K	$57.00K	$49.00K
Stock-Based Compensation	$2.63M	$2.60M	$2.59M	$2.51M	$4.65M
Investing Cash Flow	-$213.38M	$12.77M	$48.19M	$58.94M	$42.40M
Financing Cash Flow	-$34.00K	$612.00K	$760.00K	$1.10M	$598.00K
Net Change in Cash	-$254.58M	-$25.85M	$26.71M	$29.41M	-$4.85M

Market Snapshot

About

Upstream Bio is a clinical-stage biopharmaceutical company focused on developing targeted immunology therapies. The company is advancing treatments for severe respiratory inflammatory diseases including asthma and chronic obstructive pulmonary disease. Upstream Bio utilizes precision medicine approaches to address unmet medical needs.