secwatch.observer — SEC 8-K summary
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Issuer:     Upstream Bio, Inc. (UPB)
CIK:        0002022626
Form:       8-K
Filed at:   2026-05-13T11:05:16+00:00
Accession:  0001193125-26-220578
Event type: earnings
Sentiment:  neutral
Materiality: 0.50
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Upstream Bio reports Q1 net loss $40.6M; Phase 3 plans on track for 2027
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- Cash, cash equivalents and short-term investments $294.6M as of March 31, 2026; expected to fund operations through 2027.
- Net loss $40.6M vs $27.3M YoY; R&D expenses $36.6M (up from $25.8M) driven by clinical and manufacturing costs.
- End-of-Phase 2 meetings with FDA planned mid-2026; Phase 3 initiations in severe asthma and CRSwNP expected Q1 2027.
- Phase 2 VENTURE COPD trial capping enrollment at >400 participants; data now expected H2 2027.
- Phase 2 VALOUR LTE study in severe asthma completed enrollment with >90% retention of eligible patients.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2022626/000119312526220578/0001193125-26-220578-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2022626/000119312526220578/upb-20260513.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-220578

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