Core Insights - Upstream Bio, Inc. is advancing its clinical development programs for verekitug, a monoclonal antibody targeting the TSLP receptor, focusing on severe respiratory diseases such as chronic rhinosinusitis with nasal polyps (CRSwNP), severe asthma, and chronic obstructive pulmonary disease (COPD) [1][2] Clinical Development Progress - The company is on track to report top-line data from the Phase 2 trial in CRSwNP in the third quarter of 2025 [1][5] - Enrollment in the Phase 2 trial for severe asthma was completed in June 2025, with top-line data expected in the first quarter of 2026 [1][5] - The first patient was dosed in the Phase 2 trial for COPD in July 2025, marking the entry into a third major respiratory indication [1][5] Financial Performance - As of June 30, 2025, Upstream Bio had cash, cash equivalents, and short-term investments totaling $393.6 million, which is projected to fund operations through 2027 [6] - Research and development expenses for the second quarter of 2025 were $37.9 million, a significant increase from $14.1 million in the same period of 2024, primarily due to clinical and manufacturing costs related to verekitug [6] - General and administrative expenses rose to $7.4 million for the quarter ended June 30, 2025, compared to $4.0 million for the same period in 2024, driven by personnel-related expenses and professional service fees [7] Net Loss - The net loss for the quarter ended June 30, 2025, was $40.0 million, compared to a net loss of $14.7 million for the same period in 2024, largely due to increased operating expenses [8][16]
Upstream Bio Reports Second Quarter 2025 Financial Results and Highlights Continued Progress