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10-K

Annual Report

UPSTREAM BIO, INC. UPB

0001193125-26-126188

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Filed
Mar 26, 2026 12:00 AM ET
Period of report

On SEC.gov

Financials in this filing

Metric Period Value
Shares Outstanding FY 2025 · Mar 20, 2026 54.42M sh
Shares Diluted FY 2025 · Dec 31, 2025 53.85M sh
Shares Diluted FY 2025 · Dec 31, 2024 13.68M sh
Capex FY 2025 · Dec 31, 2025 $165K
Capex FY 2025 · Dec 31, 2024 $511K
Operating Cash Flow FY 2025 · Dec 31, 2025 −$133.28M
Operating Cash Flow FY 2025 · Dec 31, 2024 −$59.17M
Short Term Investments FY 2025 · Dec 31, 2025 $239.93M
Short Term Investments FY 2025 · Dec 31, 2024 $144.56M
Cash And Equivalents FY 2025 · Dec 31, 2025 $101.58M
Cash And Equivalents FY 2025 · Dec 31, 2024 $325.89M
Stockholders Equity FY 2025 · Dec 31, 2025 $339.77M
Stockholders Equity FY 2025 · Dec 31, 2024 $469.85M
Stockholders Equity FY 2025 · Dec 31, 2023 −$123.13M
Current Liabilities FY 2025 · Dec 31, 2025 $13.45M
Current Liabilities FY 2025 · Dec 31, 2024 $10.74M
Total Liabilities FY 2025 · Dec 31, 2025 $14M
Total Liabilities FY 2025 · Dec 31, 2024 $11.87M
Current Assets FY 2025 · Dec 31, 2025 $351.8M
Current Assets FY 2025 · Dec 31, 2024 $479.16M
Total Assets FY 2025 · Dec 31, 2025 $353.77M
Total Assets FY 2025 · Dec 31, 2024 $481.72M
Eps Diluted FY 2025 · Dec 31, 2025 −$2.66
Eps Diluted FY 2025 · Dec 31, 2024 −$5.58
Eps Basic FY 2025 · Dec 31, 2025 −$2.66
Eps Basic FY 2025 · Dec 31, 2024 −$5.58
Sga Expense FY 2025 · Dec 31, 2025 $26.41M
Sga Expense FY 2025 · Dec 31, 2024 $17.17M
Rd Expense FY 2025 · Dec 31, 2025 $136.81M
Rd Expense FY 2025 · Dec 31, 2024 $62.97M
Net Income FY 2025 · Dec 31, 2025 −$143.44M
Net Income FY 2025 · Dec 31, 2024 −$62.81M
Operating Income FY 2025 · Dec 31, 2025 −$160.36M
Operating Income FY 2025 · Dec 31, 2024 −$77.76M
Revenue FY 2025 · Dec 31, 2025 $2.85M
Revenue FY 2025 · Dec 31, 2024 $2.37M