Quarterly ResultMay 13, 2026, 07:08 AM
Upstream Bio Q1 Net Loss $40.6M; Phase 3 Initiations Q1 2027
AI Summary
Upstream Bio reported a net loss of $40.6 million for the first quarter ended March 31, 2026, an increase from $27.3 million in the same period last year, primarily due to higher R&D expenses. The company is advancing its Phase 3 programs for verekitug in severe asthma and CRSwNP, with FDA meetings planned for mid-2026 and Phase 3 initiations expected in Q1 2027. Enrollment in the Phase 2 VENTURE trial for COPD has been capped, with data now anticipated in the second half of 2027. Upstream Bio held $294.6 million in cash, cash equivalents, and short-term investments, projected to fund operations through 2027.
Key Highlights
- Upstream Bio expects Phase 3 initiations for severe asthma and CRSwNP in Q1 2027.
- Net loss for Q1 2026 was $40.6 million, compared to $27.3 million in Q1 2025.
- Cash, cash equivalents, and short-term investments totaled $294.6 million as of March 31, 2026.
- Research and development expenses increased to $36.6 million in Q1 2026 from $25.8 million in Q1 2025.
- Enrollment in the Phase 2 VENTURE trial for COPD was capped; data now expected in H2 2027.
- Cash runway is expected to fund planned operations through 2027.