secwatch.observer — SEC 8-K summary
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Issuer:     Upstream Bio, Inc. (UPB)
CIK:        0002022626
Form:       8-K
Filed at:   2024-11-07T23:59:59+00:00
Accession:  0000950170-24-122784
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2022626/000095017024122784/0000950170-24-122784-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2022626/000095017024122784/upb-20241107.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-122784

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer