UPSTREAM BIO, INC. Q3 2025 TL;DR
Upstream Bio (UPB) reported significantly widened net losses driven by aggressive Research and Development (R&D) expansion focused on its sole clinical candidate, verekitug.
Financial Performance & Liquidity For the nine months ended September 30, 2025, Net Loss surged to \((100.98 million) (vs. \)(41.56M) in 2024), resulting in an accumulated deficit of \((291.8M). Total operating expenses more than doubled to \)116.4M, with R&D spending reaching \(96.6M (up from \)41.2M), primarily funding the COPD indication trial initiation. Collaboration revenue from t
...