Upstream Bio Q3 net loss $16.0M; IPO raises $293M, extends cash runway through 2027

Upstream Bio, Inc.

2024-Q3 EPS reported -$18.15 revenue$1,757,000

Net loss of $16.0M in Q3 2024 vs $3.1M loss in Q3 2023, driven by higher R&D and G&A costs.
Cash, equivalents and short-term investments $220.7M at Sept 30, 2024; with IPO proceeds, runway through 2027.
Phase 2 trial of verekitug in severe asthma data expected H2 2026; CRSwNP data H2 2025; COPD trial starts H2 2025.
Upsized IPO raised ~$293M gross (17.25M shares at $17.00); Daniella Beckman appointed to board as independent director.
Phase 1b data showed verekitug 50% greater FeNO reduction vs tezepelumab; supports Q12W and Q24W dosing.

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