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Upstream Bio, Inc.NasdaqGS:UPB Stock Report

Market Cap US$455.0m
Share Price
US$8.08
US$42.43
81.0% undervalued intrinsic discount
1Y-24.2%
7D-3.5%
1D
Portfolio Value
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Upstream Bio, Inc.

NasdaqGS:UPB Stock Report

Market Cap: US$455.0m

Upstream Bio (UPB) Stock Overview

A clinical-stage biotechnology company, develops treatments for inflammatory diseases focusing on severe respiratory disorders. More details

UPB fundamental analysis
Snowflake Score
Valuation2/6
Future Growth2/6
Past Performance0/6
Financial Health6/6
Dividends0/6

Rewards

Revenue is forecast to grow 62.58% per year

Risk Analysis

Earnings are forecast to decline by an average of 11.6% per year for the next 3 years

Currently unprofitable and not forecast to become profitable over the next 3 years

Does not have meaningful revenue ($3M)


UPB Community Fair Values

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Upstream Bio, Inc. Competitors

Price History & Performance

Summary of share price highs, lows and changes for Upstream Bio
Historical stock prices
Current Share PriceUS$8.08
52 Week HighUS$33.68
52 Week LowUS$7.25
Beta0
1 Month Change-14.04%
3 Month Change9.78%
1 Year Change-24.20%
3 Year Changen/a
5 Year Changen/a
Change since IPO-63.27%

Recent News & Updates

Seeking Alpha • May 29

Upstream Bio: The Reset Is The Opportunity, Initiating At Buy

Summary I am initiating a Buy rating on Verekitug, the lead asset of Upstream Bio, a small-cap biotech trading at an enterprise value under $200M. Verekitug's quarterly dosing and differentiated TSLPR mechanism offer competitive efficacy in severe asthma and CRSwNP, with strong phase 2 data supporting further development. UPB's key catalysts include FDA interactions, phase 3 trial initiations in 2027, and a COPD phase 2 readout, all of which could drive significant re-rating. Risks include asset concentration, financing needs beyond 2027, and intense competition from established biologics, but current valuation appears disconnected from conservative peak-sales scenarios. Read the full article on Seeking Alpha

Recent updates

Seeking Alpha • May 29

Upstream Bio: The Reset Is The Opportunity, Initiating At Buy

Summary I am initiating a Buy rating on Verekitug, the lead asset of Upstream Bio, a small-cap biotech trading at an enterprise value under $200M. Verekitug's quarterly dosing and differentiated TSLPR mechanism offer competitive efficacy in severe asthma and CRSwNP, with strong phase 2 data supporting further development. UPB's key catalysts include FDA interactions, phase 3 trial initiations in 2027, and a COPD phase 2 readout, all of which could drive significant re-rating. Risks include asset concentration, financing needs beyond 2027, and intense competition from established biologics, but current valuation appears disconnected from conservative peak-sales scenarios. Read the full article on Seeking Alpha
Analysis Article • Jul 27

Upstream Bio (NASDAQ:UPB) Is In A Good Position To Deliver On Growth Plans

We can readily understand why investors are attracted to unprofitable companies. For example, although Amazon.com made...
Seeking Alpha • Apr 17

Upstream Bio: Verekitug, A Longer-Acting Dupixent? - Key Data Is Imminent

Summary Upstream Bio's IPO raised ~$293m, focusing on developing verekitug, a unique TSLP receptor antagonist for severe respiratory disorders, now in Phase 2 trials. The company has a strong cash position of $471m, despite a net loss of $63m in 2024, providing a long funding runway. Verekitug's less frequent dosing and good safety profile offer potential advantages, but its success hinges on upcoming Phase 2 data readouts. Given the competitive market and high failure rates in clinical studies, investors should be aware that Upstream must be considered a higher risk investment. Nevertheless, I'm "sticking my neck out" and suggesting the stock merits a "Buy" recommendation, ahead of Chronic rhinosinusitis data due before the end of this year. Read the full article on Seeking Alpha
Analysis Article • Apr 12

We Think Upstream Bio (NASDAQ:UPB) Can Afford To Drive Business Growth

We can readily understand why investors are attracted to unprofitable companies. For example, although Amazon.com made...
Seeking Alpha • Dec 16

Upstream Bio: Treating Respiratory Disorders With TSLP Targeting Differentiation

Summary Upstream Bio, Inc. raised approximately $293 million in an IPO, positioning it to leverage upstream pathway targeting of TSLP for treatment of patients with respiratory disorders using verekitug. Release of results from the phase 2 study, using verekitug for the treatment of patients with Chronic Rhinosinusitis with Nasal Polyps, expected to be released in the 2nd half of 2025. The global Chronic Rhinosinusitis market is expected to reach $3.5 billion by 2027. Other catalysts are phase 2 study data using verekitug for Severe Asthma and initiation of mid-stage study for COPD, expected 2nd half 2026 and 2nd half 2025 respectively. Read the full article on Seeking Alpha
Seeking Alpha • Dec 07

Upstream Bio: Attractive, But Let's Wait For More Data And Lock-Up Expiry

Summary Upstream Bio's sole drug, verekitug, targets severe asthma, CRSwNP, and COPD, with promising early phase 2 data expected in 2025 and 2026. Verekitug, a TSLP receptor inhibitor, shows higher efficacy in reducing FeNO and eosinophils compared to competitors like Tezepelumab, Dupilumab, and Mepolizumab. With a market cap of $1.18bn and $220.7 million in cash, UPB has a cash runway through 2027, despite high valuation risks. I find UPB attractive but will wait for phase 2 data and the lock-up period to expire before considering an investment. Read the full article on Seeking Alpha

Shareholder Returns

UPBUS BiotechsUS Market
7D-3.5%1.2%1.6%
1Y-24.2%35.1%28.2%

Return vs Industry: UPB underperformed the US Biotechs industry which returned 35.1% over the past year.

Return vs Market: UPB underperformed the US Market which returned 28.2% over the past year.

Price Volatility

Is UPB's price volatile compared to industry and market?
UPB volatility
UPB Average Weekly Movement9.7%
Biotechs Industry Average Movement10.8%
Market Average Movement7.2%
10% most volatile stocks in US Market16.8%
10% least volatile stocks in US Market3.0%

Stable Share Price: UPB has not had significant price volatility in the past 3 months compared to the US market.

Volatility Over Time: UPB's weekly volatility (10%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
202175E. Sutherlandupstreambio.com

Upstream Bio, Inc., a clinical-stage biotechnology company, develops treatments for inflammatory diseases focusing on severe respiratory disorders. It offers verekitug, which is in Phase 2 trials for the treatment of severe asthma and chronic rhinosinusitis with nasal polyps and chronic obstructive pulmonary disease and in Phase I clinical trial for treating chronic obstructive pulmonary disease. The company was incorporated in 2021 and is headquartered in Waltham, Massachusetts.

Upstream Bio, Inc. Fundamentals Summary

How do Upstream Bio's earnings and revenue compare to its market cap?
UPB fundamental statistics
Market capUS$454.95m
Earnings (TTM)-US$156.76m
Revenue (TTM)US$3.32m
132.4x
P/S Ratio
-2.8x
P/E Ratio

Is UPB overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
UPB income statement (TTM)
RevenueUS$3.32m
Cost of RevenueUS$0
Gross ProfitUS$3.32m
Other ExpensesUS$160.09m
Earnings-US$156.76m

Last Reported Earnings

Mar 31, 2026

Next Earnings Date

n/a

Earnings per share (EPS)-2.88
Gross Margin100.00%
Net Profit Margin-4,718.96%
Debt/Equity Ratio0%

How did UPB perform over the long term?

See historical performance and comparison

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/01 16:03
End of Day Share Price 2026/06/01 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Upstream Bio, Inc. is covered by 7 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Cory KasimovEvercore ISI
Tessa RomeroJ.P. Morgan
Joseph CatanzaroMizuho Securities USA LLC