secwatch.observer — SEC 8-K summary
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Issuer:     Upstream Bio, Inc. (UPB)
CIK:        0002022626
Form:       8-K
Filed at:   2025-08-06T23:59:59+00:00
Accession:  0000950170-25-103528
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Upstream Bio Q2 net loss $40.0M; cash $393.6M; CRSwNP Phase 2 data on track for Q3 2025
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- Net loss of $40.0M in Q2 2025 vs. $14.7M in Q2 2024; R&D expense rose to $37.9M from $14.1M.
- Cash, equivalents and short-term investments $393.6M as of June 30, 2025; expected to fund operations through 2027.
- Phase 2 CRSwNP (VIBRANT) top-line data expected Q3 2025; severe asthma (VALIANT) enrollment complete, top-line Q1 2026.
- First patient dosed in Phase 2 COPD trial (VENTURE) in July 2025; LTE study for severe asthma initiated May 2025.
- General and administrative expenses $7.4M in Q2 2025, up from $4.0M in Q2 2024, driven by personnel and professional fees.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2022626/000095017025103528/0000950170-25-103528-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2022626/000095017025103528/upb-20250806.htm
  HTML page:      https://secwatch.observer/filing/0000950170-25-103528

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