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 a larger net loss but strong clinical progress as it prepares for late-stage trials. For the quarter ended December 31, 2025, collaboration revenue was $668,000 and net loss was $42.5 million, compared with a net loss of $21.2 million a year earlier, mainly from higher research spending on verekitug.
Research and development expenses rose to $40.2 million from $21.8 million, while general and administrative expenses increased to $6.7 million from $5.2 million. The company ended 2025 with cash, cash equivalents and short-term investments of $341.5 million, which it expects will fund planned operations through 2027.
The company highlighted positive Phase 2 VALIANT data in severe asthma, with statistically significant reductions in asthma exacerbations at multiple dosing regimens, and supportive analyses from the Phase 2 VIBRANT study in chronic rhinosinusitis with nasal polyps. Upstream Bio plans to advance verekitug into Phase 3 trials in severe asthma and CRSwNP, aiming to start dosing in the first quarter of 2027, and continues enrollment in the Phase 2 VENTURE trial in COPD.
Upstream Bio, Inc. CFO and COO Michael Gray reported an automatic sale of common stock primarily to cover taxes on vested restricted stock units. The transaction involved 852 shares of common stock sold at $9.29 per share. After this sell-to-cover transaction, he directly holds 29,648 common shares. The company has a sell-to-cover policy, and the sale was carried out automatically, not at his discretion.
Upstream Bio, Inc. reported that Chief Medical Officer Aaron Deykin executed an open-market sale of 894 shares of common stock at $9.29 per share on March 16, 2026. According to the company’s sell-to-cover policy, these shares were sold automatically to satisfy tax withholding obligations from vesting restricted stock units and were not sold at his discretion.
Following this tax-related sale, Deykin directly holds 32,687 shares of Upstream Bio common stock.
Upstream Bio, Inc. Chief Executive Officer Everett Rand Sutherland reported an automatic sale of 2,093 shares of common stock at an average price of $9.29 per share. According to the company’s sell-to-cover policy, these shares were sold solely to satisfy tax withholding obligations from vesting restricted stock units.
After this tax-related transaction, Sutherland directly holds 72,907 shares of Upstream Bio common stock. Because the sale was automatic and not at his discretion, it reflects routine tax management rather than a discretionary change in investment stance.
Upstream Bio, Inc. General Counsel Allison Ambrose reported an automatic sale of 475 shares of common stock at $9.29 per share. The company has a “sell-to-cover” policy, so these shares were sold solely to cover tax withholding on vested restricted stock units, not at her discretion. After this transaction, she directly holds 16,525 shares, indicating this was a small, tax-related adjustment to her position rather than a discretionary open-market trade.
Upstream Bio, Inc. Chief Business Officer Adam Houghton reported an automatic sale of 699 shares of common stock at $9.29 per share. According to the company’s sell-to-cover policy, these shares were sold solely to satisfy tax withholding on vested restricted stock units. After this tax-related sale, Houghton directly holds 24,301 shares of Upstream Bio common stock.
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) of Common Stock at a grant price of $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 $27.07 per share, expiring on January 1, 2036. The RSUs vest in sixteen equal quarterly installments after January 1, 2026, and the option vests in forty-eight equal monthly installments after the same date, in each case conditioned on Dr. Deykin’s continued service.