{"schema_version":"secwatch.filing_event.v1","accession":"0000950170-25-063954","form_type":"8-K","ticker":"UPB","cik":"0002022626","company_name":"Upstream Bio, Inc.","filed_at":"2025-05-06T23:59:59+00:00","discovered_at":"2026-05-14T18:02:50.697477+00:00","generated_at":"2026-05-22T14:48:36.962073+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Upstream Bio Q1 net loss $27.3M; cash $431.4M; Phase 2 CRSwNP data on track for Q3 2025","bullets":["Net loss $27.3M in Q1 2025 vs $10.9M in Q1 2024; R&D expenses $25.8M (up $14.1M YoY).","Cash, equivalents and short-term investments $431.4M as of March 31, 2025, funding operations through 2027.","Phase 2 CRSwNP top-line data expected Q3 2025; Phase 2 severe asthma data now expected H1 2026.","First patient dosing in Phase 2 COPD trial expected mid-2025.","General and administrative expenses $6.8M vs $4.0M YoY, driven by personnel and professional fees."],"urls":{"canonical":"https://secwatch.observer/filing/0000950170-25-063954","json":"https://secwatch.observer/filing/0000950170-25-063954.json","markdown":"https://secwatch.observer/filing/0000950170-25-063954.md","text":"https://secwatch.observer/filing/0000950170-25-063954.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/2022626/000095017025063954/0000950170-25-063954-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/2022626/000095017025063954/upb-20250506.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-22T14:48:36.962073+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}