Upstream Bio
Developing verekitug, a TSLP-receptor antibody for severe respiratory diseases.
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Profile
Develops verekitug, a clinical-stage antibody for severe respiratory and inflammatory diseases, with severe asthma, nasal polyps, and COPD as current programs. It is a single-asset, pre-commercial sponsor whose revenue currently comes from reimbursed Japanese R&D work.
Develops verekitug, a fully human monoclonal antibody that blocks the thymic stromal lymphopoietin receptor. The program targets severe asthma, chronic rhinosinusitis with nasal polyps, and chronic obstructive pulmonary disease, with clinical development designed around extended dosing intervals.
Operates as a clinical-stage, single-asset biopharmaceutical sponsor. Research and development is concentrated in-house while international trials, active ingredient production, and finished drug manufacturing are outsourced. Current revenue comes from reimbursed Japanese research and development work; there is no approved product or product-sales revenue.
Retains global research and development responsibility while Maruho holds Japanese development and commercialization rights. Progress depends on clinical and regulatory execution, third-party trial and manufacturing partners, and the sole candidate's ability to compete in already treated respiratory markets.
Company facts
Key statistics
Year to date −75.3% · Average volume (30d) 583.2K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Target |
|---|---|---|---|
| Aug 11, 2026 | Truist Financial | Target | $25 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 11, 2026Q2 FY26 | −$0.73 | −$0.73 | −0.6% | $561.4K | $773.0K | +37.7% | −4.70% |
| May 13, 2026Q1 FY26 | −$0.74 | −$0.75 | −1.2% | $1.0M | $1.0M | +0.6% | −6.09% |
| Mar 26, 2026Q4 FY25 | −$0.73 | −$0.79 | −8.2% | $584.0K | $668.0K | +14.4% | −11.44% |
| Nov 5, 2025Q3 FY25 | −$0.78 | −$0.63 | +19.2% | $521.6K | $683.0K | +31.0% | −1.29% |
Financial highlights
| 11 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $566.0K | $937.0K | $683.0K | $668.0K | $1.0M | $773.0K | |
| Gross profit | $566.0K | $937.0K | $683.0K | $668.0K | $985.0K | $773.0K | |
| Operating income | −$32.0M | −$44.3M | −$37.8M | −$46.2M | −$43.6M | −$42.4M | |
| Net income | −$27.3M | −$40.0M | −$33.7M | −$42.5M | −$40.6M | −$39.7M | |
| Diluted EPS | −$0.51 | −$0.74 | −$0.63 | −$0.79 | −$0.75 | −$0.73 | |
| Gross margin | 100.0% | 100.0% | 100.0% | 100.0% | 95.3% | 100.0% | |
| Operating margin | -5,656.0% | -4,732.9% | -5,539.4% | -6,911.2% | -4,218.1% | -5,481.0% |
Fiscal years (4-quarter sums)FY24 $2.4M · FY25 $2.9M
Balance sheet, Jun 30, 2026Cash & short-term investments $261.3M · Total debt $954.0K · Total assets $281.2M · Shareholders' equity $271.0M
Dividends
No dividends on record.
Ownership
Shares outstanding 54.42M · Float 20.08M · 36.9% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| FMR LLC | 8.10M | 14.89% | 13F | May 15, 2026 |
| Orbimed Advisors LLC | 5.69M | 10.46% | 13F | May 15, 2026 |
| AI Upstream LLC | 5.49M | 10.70% | 13D | Oct 22, 2024 |
| Norges Bank | 2.88M | 5.30% | 13G | Oct 24, 2025 |
| BlackRock, Inc. | 2.81M | 5.20% | 13G | Jul 30, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
- AstraZeneca (ADR)
TSLP-pathway and eosinophil biologics across all three respiratory arenas.
- Sanofi (ADR)
Dupixent spans asthma, nasal polyps, and eosinophilic COPD.
- GSK (ADR)
Nucala and Exdensur span severe asthma, nasal polyps, and COPD.
- Amgen
Co-developed TSLP biologic Tezspire is the closest mechanism rival.
- Regeneron
Dupixent reaches all three target respiratory indications.
- Novartis (ADR)
Xolair contests severe asthma and chronic rhinosinusitis with nasal polyps.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Upstream Bio | $6.69 | +0.15% | $364.1M | — | — | 115.3 | −17.5% |
| AstraZeneca (ADR) | $161.79 | −0.55% | $252.33B | 24.4 | 15.2 | 4.1 | +6.4% |
| Sanofi (ADR) | $44.83 | +0.02% | $107.62B | 78.9 | — | 1.9 | +11.2% |
| GSK (ADR) | $50.57 | −0.51% | $101.82B | 15.8 | 9.2 | 2.2 | +2.7% |
| Amgen | $430.27 | −0.49% | $233.38B | 26.9 | 18.4 | 6.1 | +9.7% |
| Regeneron | $793.21 | −0.11% | $81.82B | 19.6 | 13.1 | 5.3 | +16.7% |
| Novartis (ADR) | $153.81 | 0.00% | $292.35B | 23.2 | 16.4 | 5.3 | +0.9% |
| Median | 23.8 | 15.2 | 4.7 | +8.0% |