Upstream Bio, Inc. ( (UPB) ) has released its Q4 earnings. Here is a breakdown of the information Upstream Bio, Inc. presented to its investors.
Upstream Bio, Inc. is a clinical-stage biotechnology company focused on developing treatments for inflammatory diseases, particularly severe respiratory disorders, with its lead candidate verekitug targeting the TSLP receptor.
In its latest earnings report, Upstream Bio highlighted the completion of patient enrollment for a Phase 2 clinical trial of verekitug in chronic rhinosinusitis with nasal polyps, alongside a successful IPO raising $293 million, extending its financial runway through 2027.
The company’s financial performance showed increased research and development expenses, rising to $21.8 million in Q4 2024, driven by clinical and manufacturing activities for verekitug. General and administrative expenses also rose to $5.2 million due to higher personnel-related costs. Despite a net loss of $21.2 million for the quarter, Upstream Bio’s cash reserves stand at $470.5 million.
Strategically, Upstream Bio is advancing verekitug in severe asthma and COPD, with plans to dose the first COPD patient in 2025 and report asthma trial data in 2026. The company’s recent IPO has bolstered its financial position, supporting ongoing and future clinical developments.
Looking ahead, Upstream Bio remains focused on leveraging verekitug’s unique mechanism to address unmet needs in inflammatory diseases, with upcoming clinical milestones and regulatory discussions expected to shape its trajectory in the coming years.