Upstream Bio Q2 net loss narrows slightly on lower R&D costs
UPB•Q2 results and revenue
Upstream Bio said its second-quarter collaboration revenue declined year over year, while its net loss narrowed slightly from the same period last year.
The company reported:
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Collaboration Revenue | $773,000 | ||
| Q2 Net Loss | $39.70 mln | ||
| Q2 Operating Expenses | $43.14 mln |
Costs and trial progress
Research and development expenses decreased in the quarter due to lower manufacturing costs, partially offset by higher personnel and clinical trial expenses.
The company said it completed enrollment in its Phase 2 COPD trial and advanced preparations for Phase 3 trials in severe asthma and CRSwNP.
Outlook and analyst view
Upstream Bio plans to initiate Phase 3 trials in severe asthma and CRSwNP in the first quarter of 2027. It expects Phase 2 COPD trial data in the second half of 2027.
The company said its cash position is expected to fund planned operations through 2027.
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 2 "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 $42.50, about 471.2% above its August 10 closing price of $7.44.
