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Companies $UPB
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Upstream Bio, Inc. logo

Upstream Bio, Inc.

upstreambio.com

What Do They Do?

Develops verekitug, an antibody treatment candidate for severe asthma, chronic rhinosinusitis with nasal polyps, and COPD.

How Do They Make Money?

Maruho reimburses the company for research and development work and drug supply in Japan; Upstream Bio earns revenue as it carries out that work.

FY2025 revenue

Who Are Their Customers?

Maruho contracts with Upstream Bio for research and development work in Japan and drug supply, reimbursing the associated costs.

Do Revenues Turn Into Profits?

No. It lost $143.4M in FY2025.

Operating income, FY2025
−5619% of revenue
▲ +106% (Loss) vs FY2024 (−$77.8M, −3281%)
Net income, FY2025
−5026% of revenue
▲ +128% (Loss) vs FY2024 (−$62.8M, −2650%)
Free cash flow, FY2025
−4676% of revenue
▲ +124% (Loss) vs FY2024 (−$59.7M, −2518%)

How Are They Changing?

Since the FY2025 annual report
Latest quarter: Q2 FY2026, the three months to Jun 30, 2026
Revenue
▼ −18%
vs $937K in Q2 FY2025
Net income
▼ −1% (Loss)
vs −$40M in Q2 FY2025

Who Do They Compete With?

Competes with Genentech, Novartis, Sanofi, Regeneron, GSK, AstraZeneca, and Amgen

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