Last updated
Revenue
R&D Expenses
Operating CF
Total Assets
Total Liabilities
Equity
Shares Out.
D/E Ratio
Dilution Watch
Financials
52W LOW $4.3752W HIGH $33.68
Volume
498.59 K
Value Traded
6.48 M
Short % Float
12.04%
-9.03%Week
-23.07%1 Month
-39.11%3 Month
-56.29%6 Month
-61.07%5 Year
-61.07%All Time
Cash Data
- Monthly Burn
- Burn Trend
- Dilution Risk
- SEC Filing
Key Stats
Market Cap
251.95 M
EPS (TTM)
-2.86
P/E Ratio
-
Ent. Value
-10.46 M
Total Shares
54.80 M
Float Shares
37.31 M
Insiders
31.88%
Institutions
71.14%
Upcoming Catalysts
FDA decisions, readouts and PDUFA dates · scored by probability of approval
UPB Catalyst Timeline
Dated clinical, regulatory and corporate events for Upstream Bio, Inc.
Catalyst Timeline
Dated clinical, regulatory & corporate events for Upstream Bio, Inc.
90Total events
16Upcoming
22Tier-1 (high impact)
2024 to 2030Coverage
Upcoming catalysts 2
Event history 50
▲Oral PresentationVerekitugPresentation
Results from Phase 2 VALIANT trial presented at ERS Congress 2026
severe asthmasource ↗
▲Primary Endpoint MetVerekitugClinical Data
VALIANT met primary endpoint of AAER reduction
severe asthmasource ↗
▲Oral PresentationVerekitugPresentation
Phase 2 VALIANT results presented in late-breaking oral presentation at ERS Congress 2026
severe asthmasource ↗
▲Secondary Endpoint DataVerekitugClinical Data
Improvements in FEV1, FeNO and ACQ-6 versus placebo at week 24, seen as early as week 2
severe asthmasource ↗
▲Safety Data UpdateVerekitugClinical Data
Verekitug generally well tolerated across all active doses; immunogenicity had no meaningful impact
severe asthmasource ↗
▲End Of Phase 2 MeetingVerekitugFDA Meeting
End-of-Phase 2 meetings with FDA
severe asthma and CRSwNPsource ↗
▲Oral PresentationVerekitugPresentation
New responder analyses from Phase 2 VIBRANT trial presented at EAACI 2026
Chronic rhinosinusitis with nasal polyps (CRSwNP)source ↗
◆Oral PresentationVerekitugPresentation
Additional efficacy data from Phase 2 VIBRANT trial of verekitug in CRSwNP presented at EAACI 2026
chronic rhinosinusitis with nasal polypssource ↗
▲Poster PresentationVerekitugPresentation
Poster presentation at ATS 2026 showing ACQ-6 improvement and biomarker data
chronic rhinosinusitis with nasal polyps (CRSwNP) and comorbid asthmasource ↗
●Enrollment MilestoneVerekitugTrial
Enrollment capped in VENTURE trial; over 400 participants enrolled
COPDsource ↗
◆Late-BreakerVerekitugPresentation
Late-breaking poster presentation of additional analyses from Phase 2 VIBRANT trial at AAAAI 2026
chronic rhinosinusitis with nasal polypssource ↗
▲Late-BreakerVerekitugPresentation
Late-breaking poster presentation of additional analyses from Phase 2 VIBRANT trial at AAAAI 2026
chronic rhinosinusitis with nasal polypssource ↗
▲Primary Endpoint MetVerekitugClinical Data
Primary endpoint met: endoscopic nasal polyp score reduction -1.95 (WOCF) and -1.77 (primary analysis) at week 24
chronic rhinosinusitis with nasal polypssource ↗
▲Enrollment CompleteVerekitugTrial
VALOUR long-term extension completed enrollment with >90% retention of eligible VALIANT patients
severe asthmasource ↗
▲Enrollment CompleteVerekitugTrial
VALOUR LTE completed enrollment in March 2026
severe asthmasource ↗
▲Topline ReadoutVerekitugClinical Data
Positive top-line results from Phase 2 VALIANT trial of verekitug in severe asthma
Severe Asthmasource ↗
●Oral PresentationVerekitugPresentation
Webcast to discuss VALIANT top-line results
Severe Asthmasource ↗
▲Primary Endpoint MetVerekitugClinical Data
VALIANT met primary endpoint of AAER reduction
Severe Asthmasource ↗
▲Enrollment CompleteVerekitugTrial
VALIANT trial enrollment completed (478 patients)
Severe Asthmasource ↗
▲Topline ReadoutVerekitugClinical Data
Positive top-line results from Phase 2 VALIANT trial in severe asthma reported
severe asthmasource ↗
▲Poster PresentationVerekitugPresentation
Additional analyses from Phase 2 VIBRANT trial presented at AAAAI 2026
CRSwNPsource ↗
◆Topline ReadoutVerekitugClinical Data
Top-line Phase 2 clinical data in severe asthma expected H1 2026
severe asthmasource ↗
◆Topline ReadoutVerekitugClinical Data
Phase 2 topline data in severe asthma anticipated in Q1 2026
severe asthmasource ↗
●Quarterly UpdateCorporate
Cash position of ~$341.5M as of Dec 31, 2025, expected to fund through 2027
●Oral PresentationVerekitugPresentation
Presented structural and mechanistic data on verekitug at ERS Congress
severe respiratory diseasessource ↗
▲Primary Endpoint MetVerekitugClinical Data
VIBRANT trial met primary and secondary endpoints at Week 24
chronic rhinosinusitis with nasal polypssource ↗
◆Oral PresentationPresentation
Upstream Bio CEO to participate in Stifel 2025 Virtual Immunology and Inflammation Forum fireside chat
▲Topline ReadoutVerekitugClinical Data
Positive top-line results from Phase 2 VIBRANT trial of verekitug in CRSwNP
chronic rhinosinusitis with nasal polyps (CRSwNP)source ↗
▲Primary Endpoint MetVerekitugClinical Data
VIBRANT met primary endpoint: placebo-adjusted reduction in NPS of -1.8 (p<0.0001)
chronic rhinosinusitis with nasal polyps (CRSwNP)source ↗
●Oral PresentationVerekitugPresentation
Management conference call and webcast to discuss VIBRANT top-line results
chronic rhinosinusitis with nasal polyps (CRSwNP)source ↗
▲Topline ReadoutVerekitugClinical Data
Positive top-line results from VIBRANT Phase 2 trial in CRSwNP
chronic rhinosinusitis with nasal polyps (CRSwNP)source ↗
●Oral PresentationVerekitugPresentation
Presentation of new data at European Respiratory Society Congress
▲First Patient DosedVerekitugTrial
First patient dosed in Phase 2 VENTURE trial of verekitug in COPD
Chronic Obstructive Pulmonary Disease (COPD)source ↗
▲First Patient DosedVerekitugTrial
First patient dosed in VENTURE Phase 2 trial in COPD
chronic obstructive pulmonary disease (COPD)source ↗
◆Poster PresentationVerekitugPresentation
Poster presentation at EAACI 2025 on in silico system pharmacology modeling of verekitug vs tezepelumab
asthmasource ↗
●Poster PresentationVerekitugPresentation
Translational pharmacology modeling data presented at EAACI Congress
inflammatory diseasessource ↗
▲Enrollment CompleteVerekitugTrial
Enrollment completed in Phase 2 VALIANT trial in severe asthma
Severe Asthmasource ↗
▲First Patient DosedVerekitugTrial
First patient dosing in Phase 2 trial of verekitug in COPD expected mid-2025
chronic obstructive pulmonary diseasesource ↗
Past FDA Catalysts and PDUFA Decisions
How UPB actually traded into and out of each decision
| Date | Drug | Catalyst | Stage | Reaction | Event Move % | Best Trade % |
|---|---|---|---|---|---|---|
| 2026-09-30 | verekitug | Phase 2 data readout | Phase 2 |
Reaction: 30 trading days around the event · Event Move: close to close on decision day · Best Trade: peak run-up from entry 10 days before the decision
Drug Pipeline Intelligence
D38 / 100
Pipeline Score
$77M
Pipeline Value
Overvalued
Valuation Signal
2
Drugs Scored
0.3x
rNPV / MCap
Top 46%
Micro Cap(rank 303 of 658)
Percentile Rank
Upstream Bio, Inc. faces pipeline headwinds (38/100), with $569M risk-adjusted pipeline value, led by Verekitug in Severe Asthma (Phase 2), across $80B in total addressable markets.
| Drug | Indication | Phase | PTRS | rNPV | Status | Enroll | Velocity | Design | Est. Completion | ML Signal | Last Change |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Verekitug Small moleculeNCT06966479 | Severe Asthma | Phase 2 | ACTIVE NOT_RECRUITING | 875 | Sep 1, 2027 |
Clinical Trial Results
Readouts, endpoints and source filings for every UPB program
Inside Trades
| Insider | Side | Shares | Price | Value | Date |
|---|---|---|---|---|---|
| GRAY MICHAELOfficer (CFO and COO) | Sell | -853 27,942 held | $5.49 | 09/16/2026 |
Hedge Fund 13F Activity
Hedge Funds invested in UPB
| Fund | % of Portfolio | Current MV | Shares Owned | Activity |
|---|---|---|---|---|
| ORBIMED ADVISORS LLC | 0.7 % (-30 %) | 39.40 M | 5.69 M |
UPB Institutional Ownership Trends
Options Data
Option Volume
Open Interest
Call OI
Put OI
Put-Call Ratio
OI 30-day avg
Today vs avg
Option Volume
Call Vol
Put Vol
Put-Call Ratio
Vol 30-day avg
Today vs avg
Option Chain Statistics
| Expiry | Call Vol | Put Vol | Vol P/C | Call OI | Put OI | OI P/C | IV Call | IV Call OI-Wtd | IV Call Vol-Wtd | IV Put | IV Put OI-Wtd | IV Put Vol-Wtd |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026-11-20 | ||||||||||||
Real-Time Option Chain
| Calls | Strike | Puts | ||||
|---|---|---|---|---|---|---|
| Last | Vol | OI | Last | Vol | OI | |
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Calls vs Puts by Expiry
CallsPutsLog scale
Competitive positioning
How UPB ranks across every disease it competes in
Competitive Position is a premium feature
See how UPB ranks against every competitor across each disease it develops in: phase, best drug, trials and likelihood of approval.
Start free trialUPB News
UPBUpstream Bio Presents Results from the Phase 2 VALIANT Trial of Verekitug for the Treatment of Severe Asthma in Oral Presentation at ERS Congress 2026
Upstream Bio presented positive results from the Phase 2 VALIANT trial of verekitug for severe asthma at the ERS Congress 2026. The treatment significantly reduced the annualized asthma exacerbation rate by 56% compared to placebo and improved lung function and inflammatory markers. The company plans to initiate Phase 3 trials in 2027, aiming for best-in-class efficacy with quarterly dosing.
Read more →UPBUpstream Bio Announces Pivotal Phase 3 Development Plans for Verekitug in Both Severe Asthma and CRSwNP
Upstream Bio announced its plans to initiate pivotal Phase 3 trials for verekitug in severe asthma and chronic rhinosinusitis with nasal polyps (CRSwNP). The trials will evaluate a high-dose regimen of 400 mg administered every 12 weeks against a placebo. The company aims to demonstrate the drug's efficacy and safety profile in broad patient populations, with trials expected to start in Q1 2027.
Read more →UPBUpstream Bio Reports Second Quarter 2026 Financial Results and Highlights Continued Progress
Upstream Bio has reported its financial results for Q2 2026, highlighting significant progress towards the initiation of Phase 3 trials in Q1 2027. The trials aim to provide best-in-class efficacy for treatments in severe asthma and CRSwNP. Additionally, the company has completed enrollment in its Phase 2 trial for COPD, with data expected soon.
Read more →UPBUpstream Bio Presents New Responder Analyses Demonstrating Clinically Meaningful Improvements in CRSwNP in Significant Majority of Participants Treated with Verekitug in the Phase 2 VIBRANT Trial at EAACI 2026
Upstream Bio presented new analyses from the Phase 2 VIBRANT trial of verekitug for chronic rhinosinusitis with nasal polyps (CRSwNP) at EAACI 2026. The results showed that around 80% of participants experienced clinically meaningful improvements in nasal polyp scores, with notable enhancements in secondary endpoints such as nasal congestion and total symptom scores. The findings support the potential of verekitug as a treatment option for patients inadequately controlled by standard therapies.
Read more →UPB▼ -8.5%on this news
Upstream Bio to Showcase Additional Efficacy Data from the Phase 2 VIBRANT Trial of Verekitug in CRSwNP in Oral Session at EAACI 2026
Upstream Bio will present additional efficacy data from the Phase 2 VIBRANT trial of verekitug for chronic rhinosinusitis with nasal polyps at the EAACI 2026 Congress. The presentation will focus on a responder analysis showing clinically meaningful improvements in patients. Verekitug is a novel TSLP receptor antagonist, currently the only one in clinical development.
Read more →UPB▲ +5.2%on this newsshared move
Upstream Bio to Present at the Goldman Sachs 47th Annual Global Healthcare Conference
Upstream Bio, a clinical-stage biotechnology company, will present at the Goldman Sachs 47th Annual Global Healthcare Conference on June 10, 2026. CEO Rand Sutherland will participate in a fireside chat, which will be available via live webcast. The company is developing verekitug, a monoclonal antibody targeting TSLP for severe respiratory disorders.
Read more →UPB▼ -6.4%on this news
Upstream Bio Presents New Data from Phase 2 VIBRANT Trial of Verekitug Demonstrating Improvement in Asthma Symptom Control in Participants with CRSwNP and Comorbid Asthma at the ATS 2026 International Conference
Upstream Bio presented new data from the Phase 2 VIBRANT trial at the ATS 2026 International Conference, highlighting the efficacy of verekitug in improving asthma controls for patients with chronic rhinosinusitis with nasal polyps (CRSwNP) and comorbid asthma. The results demonstrated significant reductions in asthma symptoms and nasal polyp scores, along with improvements in inflammatory biomarkers. Approximately 60% of participants in the trial had comorbid asthma, and the treatment led to a marked decrease in reliance on systemic corticosteroids and surgeries. Upstream Bio plans to advance to Phase 3 trials for verekitug in both CRSwNP and severe asthma in early 2027.
Read more →UPBUpstream Bio Reports First Quarter 2026 Financial Results and Recent Business Highlights
Upstream Bio reported its Q1 2026 financial results, highlighting advancements in its Phase 3 programs for severe asthma and chronic rhinosinusitis with nasal polyps (CRSwNP). The company plans to meet with the FDA for End-of-Phase 2 discussions in mid-2026 and expects to initiate Phase 3 trials in Q1 2027. Despite a net loss increase, Upstream Bio maintains a strong cash position to support ongoing operations.
Read more →UPBUpstream Bio to Present New Data from Phase 2 VIBRANT Trial of Verekitug at the ATS 2026 International Conference
Upstream Bio, Inc. will present new data from its Phase 2 VIBRANT trial of verekitug at the ATS 2026 International Conference. The presentations will focus on the drug's effects in patients with chronic rhinosinusitis with nasal polyps and comorbid asthma. This trial evaluates verekitug's impact on nasal and blood biomarkers, showcasing its potential in treating inflammatory diseases.
Read more →UPBUpstream Bio Highlights Phase 3 Development Strategy for Verekitug and Reports Fourth Quarter and Full Year 2025 Financial Results
Upstream Bio has outlined a Phase 3 development strategy for verekitug, targeting severe asthma and chronic rhinosinusitis with nasal polyps (CRSwNP). The company reported positive results from its Phase 2 VALIANT trial, showing significant improvements in asthma exacerbations. With a strong cash position, Upstream plans to initiate Phase 3 trials in early 2027, focusing on high-dose quarterly administration.
Read more →UPBUpstream Bio Presents Additional Analyses from the Phase 2 VIBRANT Trial of Verekitug in Chronic Rhinosinusitis with Nasal Polyps at 2026 AAAAI Annual Meeting
Upstream Bio presented additional analyses from the Phase 2 VIBRANT trial of verekitug for chronic rhinosinusitis with nasal polyps at the AAAAI 2026 Annual Meeting. The trial showed a significant reduction in nasal polyp scores and nasal congestion scores, supporting the drug's efficacy. The results also indicated a substantial decrease in the need for surgery or systemic corticosteroids. Upstream Bio is preparing to initiate Phase 3 trials for verekitug.
Read more →UPBUpstream 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
Upstream Bio will present new analyses from the Phase 2 VIBRANT trial of verekitug for chronic rhinosinusitis with nasal polyps at the AAAAI Congress 2026. The presentation will focus on efficacy endpoints adjusted for concomitant rescue therapy use. This event underscores the company's commitment to addressing severe respiratory disorders.
Read more →UPBUpstream Bio to Participate in Upcoming March Investor Conferences
Upstream Bio, Inc. announced that CEO Rand Sutherland will participate in several investor conferences in March 2026. The company is focused on developing treatments for inflammatory diseases, particularly severe respiratory disorders. Their lead candidate, verekitug, is in Phase 2 trials for chronic rhinosinusitis, severe asthma, and COPD. Live webcasts of the presentations will be available on their website.
Read more →UPB▼ -47.2%on this news· ran to -70% by day 3
Upstream Bio Reports Positive Top-line Results from the Phase 2 VALIANT Trial of Verekitug for the Treatment of Severe Asthma
Upstream Bio announced positive results from the Phase 2 VALIANT trial of verekitug for severe asthma, demonstrating significant reductions in annualized exacerbation rates and improvements in lung function. The drug was well tolerated, and over 90% of participants have enrolled in a long-term extension study. Upstream Bio plans to advance verekitug into Phase 3 trials following regulatory interactions.
Read more →UPB▼ -47.2%on this news· ran to -70% by day 3shared move
Upstream Bio to Host Webcast to Report Top-Line Results from the Phase 2 VALIANT Trial of Verekitug in Patients with Severe Asthma
Upstream Bio will host a webcast on February 11, 2026, to report top-line results from the Phase 2 VALIANT trial of verekitug, a treatment for severe asthma. The trial involved 478 patients and assessed the drug's safety and efficacy over a minimum of 24 weeks. Verekitug is the only known antagonist targeting the TSLP receptor currently in clinical development.
Read more →UPB▼ -47.2%on this news· ran to -70% by day 3shared move
Top-line Results for the Phase 2
Upstream Bio, Inc. presented promising results from the Phase 2 VALIANT trial, showing a significant reduction in asthma exacerbation rates with their investigational drug, verekitug. The trial achieved its primary endpoint, demonstrating both safety and efficacy with meaningful improvements in lung function. Despite these positive indicators, the company acknowledged the risks associated with further clinical development, regulatory approval processes, and the need for additional funding. The drug represents a significant advancement for severe asthma treatment, with plans for further studies underway.
Read more →UPBUpstream Bio to Present at the 44th Annual J.P. Morgan Healthcare Conference
Upstream Bio, a clinical-stage biotechnology firm, announced that CEO Rand Sutherland will present at the 44th Annual J.P. Morgan Healthcare Conference on January 12, 2026. The company focuses on developing treatments for inflammatory diseases, particularly severe respiratory disorders. Their lead product, verekitug, is in Phase 2 trials for several conditions, including chronic rhinosinusitis and severe asthma.
Read more →UPB▲ +10.7%on this news
Upstream Bio to Participate in Upcoming December Investor Conferences
Upstream Bio, Inc. has announced its participation in several investor conferences scheduled for December. CEO Rand Sutherland will represent the company, which is focused on developing treatments for inflammatory diseases, particularly severe respiratory disorders. The company is advancing its monoclonal antibody, verekitug, into Phase 2 trials for various conditions, including chronic rhinosinusitis and severe asthma.
Read more →UPBUpstream Bio Reports Third Quarter 2025 Financial Results and Highlights Continued Progress
Upstream Bio reported positive results from the VIBRANT Phase 2 trial of verekitug for CRSwNP, demonstrating significant effects on key endpoints. The company is on track to release results from the VALIANT Phase 2 trial in severe asthma in early 2026. Financially, Upstream Bio holds $372.4 million in cash, though it reported a net loss of $33.7 million for Q3 2025, reflecting increased R&D expenses.
Read more →About Upstream Bio, Inc.
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