Upstream Posts Narrower Loss In Q2; Expects Phase 2 Readouts For Verekitug In H2 2027
(RTTNews) - Upstream Bio, Inc. (UPB) a clinical-stage biotech company, released second quarter results demonstrating a narrower loss due to decreased operating costs.
Company Profile
The company is focused on developing treatment for severe inflammatory respiratory diseases. Upstream Bio's lead drug Verekitug is being evaluated across clinical programs for chronic rhinosinusitis with nasal polyps (CRSwNP), severe asthma, and Chronic Obstructive Pulmonary Disease (COPD).
Verekitug is being developed as a recombinant human immunoglobulin G1 (IgG1) monoclonal antibody (mAb) targeting the thymic stromal lymphopoietin (TSLP) receptor. Second Quarter Financial Highlights
For the second quarter, loss marginally narrowed to $39.70 million from $39.97 million in the prior year.
Operating expenses decreased to $43.14 million for this quarter compared to $45.28 million a year ago, attributed to lower Research and development (R&D), and General and Administrative (G&A) expenditures.
Research and development expenses were $36.09 million, while in the prior year the company recorded higher costs of $37.86 million.
The $1.8 million decrease was primarily due to declining manufacturing expenses, partially offset by higher personnel-related expenses, including share-based compensation, and increased clinical costs related to the company's verekitug programs.
Cash, cash equivalents and short-term investments as of June 30, 2026, amounted to $261.31 million. The company expects the current cash runway to fund further operations through 2027.
Upcoming Clinical Milestones
The company remains on track to initiate Phase 3 clinical trials for severe asthma and CRSwNP in the first quarter of 2027, following discussion with the U.S. FDA.
Upstream has completed patient enrollment in the Phase 2 VENTURE trial in COPD and expects trial readouts in the second half of 2027.
The Phase 2 VALOUR long-term extension study for severe asthma has completed enrollment, with more than 90% retention of eligible participants from the Phase 2 VALIANT trial. Data are expected in the second half of 2027.
Stock Quote
Upstream Bio shares have traded between $5.85 and $33.68 over the last year.
UPB closed Wednesday at $6.91, down 2.54%.
