Upstream Bio Inc
For the period ended Sep 30, 2024. Filed Nov 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 7, 2024
UPB$3.58+10.8%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Balance Sheets
(Amounts in thousands, except share and per share amounts)
| September 30, | December 31, | |
|---|---|---|
| 2024 | 2023 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $32,948 | $25,833 |
| Short-term investments | 187,711 | 83,977 |
| Accounts receivable - related party | 607 | 98 |
| Prepaid expenses and other current assets | 6,007 | 7,088 |
| Total current assets | 227,273 | 116,996 |
| Property and equipment, net | 578 | 159 |
| Operating lease right-of-use assets | 1,914 | 43 |
| Deferred offering costs | 2,741 | — |
| Restricted cash | 194 | — |
| Total assets | $232,700 | $117,198 |
| Liabilities, Redeemable Convertible Preferred Stock and Stockholders’ Deficit | ||
| Current liabilities: | ||
| Accounts payable | $4,899 | $1,990 |
| Accrued expenses and other current liabilities | 5,297 | 4,480 |
| Operating lease liabilities, current portion | 678 | 45 |
| Total current liabilities | 10,874 | 6,515 |
| Operating lease liabilities, net of current portion | 1,263 | — |
| Preferred stock tranche right liability | — | 2,874 |
| Total liabilities | 12,137 | 9,389 |
| Commitments and contingencies (Note 13) | ||
| Redeemable convertible preferred stock (Series A, B), $0.001 par value; 31,764,693 shares authorized at September 30, 2024 and December 31, 2023; 31,764,693 shares and 22,941,170 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively; aggregate liquidation preference of $430,759 and $267,718 at September 30, 2024 and December 31, 2023, respectively | 380,874 | 230,935 |
| Stockholders’ deficit: | ||
| Common stock, $0.001 par value; 40,684,346 shares and 40,664,346 shares authorized at September 30, 2024 and December 31, 2023, respectively; 3,025,452 and 2,992,479 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively | 3 | 3 |
| Additional paid-in capital | 8,873 | 4,824 |
| Accumulated other comprehensive income | 351 | 21 |
| Accumulated deficit | (169,538) | (127,974) |
| Total stockholders’ deficit | (160,311) | (123,126) |
| Total liabilities, redeemable convertible preferred stock and stockholders’ deficit | $232,700 | $117,198 |
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