Welcome to our dedicated page for UpStream Bio SEC filings (Ticker: UPB), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The Upstream Bio, Inc. (NASDAQ: UPB) SEC filings page on Stock Titan provides access to the company’s regulatory disclosures as it advances verekitug, a monoclonal antibody targeting the thymic stromal lymphopoietin (TSLP) receptor, through clinical development. As a clinical-stage biotechnology company, Upstream Bio uses SEC reports to communicate trial progress, financial results, and other material information relevant to shareholders.
Recent Form 8-K filings referenced by the company include announcements of quarterly financial results and business highlights, as well as the furnishing of press releases and presentations. For example, an 8-K dated August 6, 2025, furnished a press release summarizing second quarter financial results and updates on Phase 2 trials in CRSwNP, severe asthma, and COPD. Another 8-K dated November 5, 2025, furnished third quarter results and program progress, while an 8-K dated September 2, 2025, furnished the press release and presentation describing positive top-line data from the VIBRANT Phase 2 CRSwNP trial.
Through these filings, investors can see how Upstream Bio reports collaboration revenue, research and development expenses related to verekitug, general and administrative expenses, and net loss figures, as well as balance sheet items such as cash, cash equivalents, and short-term investments. The filings also describe the design and endpoints of key clinical trials when they are the subject of a furnished press release.
On Stock Titan, these documents are supplemented with AI-powered summaries that highlight the main points of each filing, helping readers quickly understand what changed in a given quarter or event filing. Users can review 8-Ks tied to clinical data releases, financial updates, and other corporate communications, and use this information alongside news and price data when evaluating UPB.
Upstream Bio, Inc. reported preliminary unaudited cash, cash equivalents and short-term investments of approximately $341.5 million as of December 31, 2025, which it expects will fund planned operations through 2027. The company also presented top-line Phase 2 VALIANT trial results for its severe asthma drug candidate verekitug.
Verekitug met the primary endpoint, showing statistically significant reductions in annualized asthma exacerbation rates, including a 56% reduction at 100 mg every 12 weeks and a 39% reduction at 400 mg every 24 weeks versus placebo. Both regimens delivered clinically meaningful improvements in lung function (FEV1) and exhaled nitric oxide (FeNO), and verekitug was generally well tolerated with a safety profile consistent with prior studies.
The company plans integrated analyses of Phase 2 data in severe asthma and CRSwNP, continued Phase 2 development in COPD, and to begin Phase 3 trials in severe asthma and CRSwNP, while continuing investments in manufacturing and device development.
Upstream Bio, Inc. reported positive top-line results from its Phase 2 VALIANT trial of verekitug in 478 adults with severe asthma. Verekitug cut the annualized asthma exacerbation rate by 56% at 100 mg every 12 weeks and 39% at 400 mg every 24 weeks versus placebo, meeting the primary endpoint.
The drug also improved lung function, with placebo-adjusted FEV1 gains of 122 mL and 139 mL at week 60 for the 100 mg q12w and 400 mg q24w regimens, and substantially lowered exhaled nitric oxide. Verekitug was generally well tolerated with a safety profile consistent with prior studies.
More than 90% of eligible VALIANT patients have rolled into the VALOUR long-term extension study. Based on VALIANT and prior CRSwNP data, Upstream Bio plans to advance verekitug into Phase 3 trials in severe asthma and CRSwNP, while continuing the Phase 2 VENTURE trial in COPD.
Upstream Bio, Inc. reported that its CFO and COO, Michael Gray, received new equity awards on January 2, 2026. He was granted 30,500 shares of Common Stock in the form of restricted stock units (RSUs) at a price of $0 per share, all held as direct ownership after the grant.
The RSUs were granted under the company’s 2024 Stock Option and Incentive Plan and will vest in sixteen equal quarterly installments following January 1, 2026, contingent on his continued service. Gray was also granted a stock option for 91,500 shares of Common Stock with a $27.07 exercise price, which will vest in forty-eight equal monthly installments after January 1, 2026, also subject to continued service.
Upstream Bio, Inc. reported that its Chief Medical Officer, Aaron Deykin, received new equity awards on January 2, 2026. He was granted 32,000 restricted stock units (RSUs)$0, bringing his directly owned Common Stock to 33,581 shares as of that date, which includes 1,581 shares previously acquired under the 2024 Employee Stock Purchase Plan.
The filing also shows a grant of a stock option for 96,000 shares of Common Stock with an exercise price of
Upstream Bio, Inc. reported that its General Counsel, Allison Ambrose, received new equity awards. On January 2, 2026, she was granted 17,000 shares of Common Stock in the form of restricted stock units at a grant price of $0 under the company’s 2024 Stock Option and Incentive Plan.
The filing also shows a grant of a stock option for 51,000 shares of Common Stock with an exercise price of $27.07 per share, expiring on January 1, 2036. The 17,000 RSUs vest in sixteen equal quarterly installments following January 1, 2026, while the 51,000 options vest in forty-eight equal monthly installments after that date, in each case conditioned on her continued service with the company.
Upstream Bio (UPB) filed its Q3 2025 10‑Q, reporting higher R&D spend as it advances verekitug across three Phase 2 programs. Collaboration revenue was $683 thousand, while research and development expense rose to $32.975 million and general and administrative expense was $5.542 million, leading to a net loss of $33.748 million for the quarter.
For the nine months, the company recorded a net loss of $100.984 million as it scaled clinical activities. Cash, cash equivalents and short‑term investments were $372.4 million as of September 30, 2025, and management notes this liquidity is expected to fund operations through 2027. Operating cash use was $102.644 million year‑to‑date. The company reported positive top‑line results in CRSwNP in September 2025, completed enrollment in its severe asthma Phase 2 in June 2025 with top‑line data expected in the first quarter of 2026, and initiated a Phase 2 COPD trial in July 2025.
Upstream Bio, Inc. furnished an update on operations by announcing its results and business highlights for the quarter ended September 30, 2025. The company submitted a Form 8-K noting that a detailed press release was provided as Exhibit 99.1.
The information under Item 2.02, including Exhibit 99.1, is being furnished and is not deemed filed under the Exchange Act. Upstream Bio’s common stock trades on the Nasdaq Global Select Market under the symbol UPB.
Upstream Bio, Inc. reported positive top-line results from its Phase 2 VIBRANT trial of verekitug in adults with chronic rhinosinusitis with nasal polyps (CRSwNP). The 24-week, global, randomized, double-blind, placebo-controlled study enrolled 81 participants who received either 100 mg of verekitug or placebo subcutaneously every 12 weeks.
The trial met its primary endpoint, showing a statistically significant and clinically meaningful, placebo-adjusted reduction in endoscopic nasal polyp score of -1.8 (p<0.0001) at Week 24 from baseline. A key secondary endpoint, patient-reported nasal congestion score, also improved with a placebo-adjusted reduction of -0.8 (p=0.0003). Additional secondary measures, including sinus opacification, total symptom score, and reduced need for systemic corticosteroids or nasal polyp surgery, also improved.
Verekitug was generally well tolerated, with a favorable safety profile consistent with previous studies and no serious adverse events observed. The company shared these results via a press release and webcast presentation furnished as exhibits.
Upstream Bio (UPB) Q2 2025 10-Q highlights. The clinical-stage biotech recorded collaboration revenue of $0.94 m (+84% YoY), while R&D expense jumped 169 % to $37.9 m as Phase 2 programs for verekitug in severe asthma, CRSwNP and COPD advanced. Total operating costs rose to $45.3 m, pushing the quarterly net loss to $40.0 m (-173 % YoY) or $(0.74) per share.
Despite the widening loss, liquidity remains robust: cash, cash equivalents and short-term investments total $393.6 m against only $11.8 m of liabilities. Operating cash burn was $80.4 m for the first half, but management believes existing resources fund operations “through 2027.” Interest income of $4.4 m partially offset expenses.
Pipeline momentum continues: CRSwNP Phase 2 enrollment completed Jan-25 with top-line data expected Q3-25; severe asthma Phase 2 enrollment finished Jun-25 with read-out due Q1-26; COPD Phase 2 began Jul-25. The filing reiterates typical biotech risks, notably single-asset dependence and future financing needs.