secwatch.observer — SEC 8-K summary
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Issuer:     Upstream Bio, Inc. (UPB)
CIK:        0002022626
Form:       8-K
Filed at:   2025-05-06T23:59:59+00:00
Accession:  0000950170-25-063954
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Upstream Bio Q1 net loss $27.3M; cash $431.4M; Phase 2 CRSwNP data on track for Q3 2025
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2022626/000095017025063954/0000950170-25-063954-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2022626/000095017025063954/upb-20250506.htm
  HTML page:      https://secwatch.observer/filing/0000950170-25-063954

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