Upstream Bio posts Q4 net loss $21.2M; CRSwNP Ph2 enrollment complete; cash through 2027

Upstream Bio, Inc.

Net loss of $21.2M in Q4 2024 ($11.8M in Q4 2023); R&D expenses $21.8M vs $11.6M.
Completed enrollment in Phase 2 CRSwNP trial of verekitug; top-line data expected H2 2025.
Cash, equivalents and investments $470.5M as of Dec 31, 2024, funded by upsized IPO ($293M gross).
Phase 2 severe asthma data expected H2 2026; first COPD patient dosing on track for H2 2025.
Appointed Daniella Beckman to Board and Allison Ambrose as General Counsel in late 2024.

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