Upstream Bio, Inc.

For the period ended Sep 30, 2026. Filed Nov 10, 2026.

About this filing

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, 2026 · Filed Nov 10, 2026

UPB$3.38-5.6%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Operations and Comprehensive Loss

(Amounts in thousands, except share and per share amounts)

	Three Months Ended September 30,		Nine Months Ended September 30,
	2026	2025	2026	2025
Collaboration revenue	$395	$683	$2,202	$2,186
Operating expenses:
Research and development	36,609	32,975	109,263	96,637
General and administrative	7,165	5,542	22,301	19,743
Total operating expenses	43,774	38,517	131,564	116,380
Loss from operations	(43,379)	(37,834)	(129,362)	(114,194)
Other income (expense):
Interest income	2,230	4,105	7,943	13,279
Other expense, net	(43)	(19)	(66)	(69)
Total other income, net	2,187	4,086	7,877	13,210
Net loss	$(41,192)	$(33,748)	$(121,485)	$(100,984)
Net loss per share attributable to common stockholders, basic and diluted	$(0.75)	$(0.63)	$(2.23)	$(1.88)
Weighted-average common shares outstanding, basic and diluted	54,783,340	53,930,946	54,562,864	53,773,936
Comprehensive loss:
Net loss	$(41,192)	$(33,748)	$(121,485)	$(100,984)
Unrealized gain (loss) on investments, net of tax	(204)	235	(857)	518
Total other comprehensive income (loss)	(204)	235	(857)	518
Comprehensive loss	$(41,396)	$(33,513)	$(122,342)	$(100,466)

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.