Overview

• US biotech firm's Q4 collaboration revenue was modest, net loss widened due to higher R&D costs

• Company expects cash of $341.5 mln to fund operations through 2027

• Company plans to start Phase 3 trials for verekitug in severe asthma and CRSwNP in Q1 2027

Outlook

• Company plans to initiate Phase 3 dosing in severe asthma and CRSwNP in Q1 2027

• Upstream Bio expects cash position to fund operations through 2027

• Company intends to meet with regulators in 2026 to finalize Phase 3 plans

Result Drivers

• R&D SPENDING - Higher research and development expenses driven by increased clinical and manufacturing activity for verekitug programs

• CLINICAL TRIAL PROGRESS - Positive Phase 2 trial results for verekitug in severe asthma and CRSwNP supported continued investment in late-stage development

• ADMINISTRATIVE COSTS - Higher general and administrative expenses due to increased professional fees and personnel-related costs

Company press release: ID:nGNX1DGyg1

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Upstream Bio Inc is $45.00, about 375.2% above its March 25 closing price of $9.47

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)