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10-Q

Quarterly Report

UPSTREAM BIO, INC. UPB

0001193125-25-265713

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Filed
Nov 5, 2025 12:00 AM ET
Period of report

On SEC.gov

Financials in this filing

Metric Period Value
Shares Outstanding Q3 2025 · Nov 3, 2025 54.04M sh
Shares Diluted Q3 2025 · Sep 30, 2025 53.93M sh
Shares Diluted Q3 2025 · Sep 30, 2025 53.77M sh
Shares Diluted Q3 2025 · Sep 30, 2024 3.02M sh
Shares Diluted Q3 2025 · Sep 30, 2024 3.01M sh
Capex Q3 2025 · Sep 30, 2025 $111K
Capex Q3 2025 · Sep 30, 2024 $326K
Operating Cash Flow Q3 2025 · Sep 30, 2025 −$102.64M
Operating Cash Flow Q3 2025 · Sep 30, 2024 −$39.56M
Short Term Investments Q3 2025 · Sep 30, 2025 $300.26M
Short Term Investments Q3 2025 · Dec 31, 2024 $144.56M
Cash And Equivalents Q3 2025 · Sep 30, 2025 $72.16M
Cash And Equivalents Q3 2025 · Dec 31, 2024 $325.89M
Cash And Equivalents Q3 2025 · Sep 30, 2024 $32.95M
Stockholders Equity Q3 2025 · Sep 30, 2025 $378.58M
Stockholders Equity Q3 2025 · Jun 30, 2025 $408.74M
Stockholders Equity Q3 2025 · Mar 31, 2025 $445.61M
Stockholders Equity Q3 2025 · Dec 31, 2024 $469.85M
Stockholders Equity Q3 2025 · Sep 30, 2024 −$160.31M
Stockholders Equity Q3 2025 · Jun 30, 2024 −$146.61M
Stockholders Equity Q3 2025 · Mar 31, 2024 −$133.41M
Stockholders Equity Q3 2025 · Dec 31, 2023 −$123.13M
Current Liabilities Q3 2025 · Sep 30, 2025 $11.91M
Current Liabilities Q3 2025 · Dec 31, 2024 $10.74M
Total Liabilities Q3 2025 · Sep 30, 2025 $12.61M
Total Liabilities Q3 2025 · Dec 31, 2024 $11.87M
Current Assets Q3 2025 · Sep 30, 2025 $389.02M
Current Assets Q3 2025 · Dec 31, 2024 $479.16M
Total Assets Q3 2025 · Sep 30, 2025 $391.2M
Total Assets Q3 2025 · Dec 31, 2024 $481.72M
Eps Diluted Q3 2025 · Sep 30, 2025 −$0.63
Eps Diluted Q3 2025 · Sep 30, 2025 −$1.88
Eps Diluted Q3 2025 · Sep 30, 2024 −$6.96
Eps Diluted Q3 2025 · Sep 30, 2024 −$18.15
Eps Basic Q3 2025 · Sep 30, 2025 −$0.63
Eps Basic Q3 2025 · Sep 30, 2025 −$1.88
Eps Basic Q3 2025 · Sep 30, 2024 −$6.96
Eps Basic Q3 2025 · Sep 30, 2024 −$18.15
Sga Expense Q3 2025 · Sep 30, 2025 $5.54M
Sga Expense Q3 2025 · Sep 30, 2025 $19.74M
Sga Expense Q3 2025 · Sep 30, 2024 $4.07M
Sga Expense Q3 2025 · Sep 30, 2024 $12.01M
Rd Expense Q3 2025 · Sep 30, 2025 $32.98M
Rd Expense Q3 2025 · Sep 30, 2025 $96.64M
Rd Expense Q3 2025 · Sep 30, 2024 $15.43M
Rd Expense Q3 2025 · Sep 30, 2024 $41.19M
Net Income Q3 2025 · Sep 30, 2025 −$33.75M
Net Income Q3 2025 · Sep 30, 2025 −$100.98M
Net Income Q3 2025 · Jun 30, 2025 −$39.97M
Net Income Q3 2025 · Mar 31, 2025 −$27.27M
Net Income Q3 2025 · Sep 30, 2024 −$15.99M
Net Income Q3 2025 · Sep 30, 2024 −$41.56M
Net Income Q3 2025 · Jun 30, 2024 −$14.68M
Net Income Q3 2025 · Mar 31, 2024 −$10.89M
Operating Income Q3 2025 · Sep 30, 2025 −$37.83M
Operating Income Q3 2025 · Sep 30, 2025 −$114.19M
Operating Income Q3 2025 · Sep 30, 2024 −$18.89M
Operating Income Q3 2025 · Sep 30, 2024 −$51.45M
Revenue Q3 2025 · Sep 30, 2025 $683K
Revenue Q3 2025 · Sep 30, 2025 $2.19M
Revenue Q3 2025 · Sep 30, 2024 $607K
Revenue Q3 2025 · Sep 30, 2024 $1.76M