# Upstream Bio, Inc.: overview UPB · Nasdaq · CIK 2022626 · [Healthcare](/sectors/healthcare.md) · fiscal year ends Dec 31 Pages: [Overview](/companies/upb.md) · [Financials](/companies/upb/financials.md) · [Filings](/companies/upb/filings.md) · [Insiders](/companies/upb/insiders.md) Latest reported revenue: [$773.0k](/filings/0001193125-26-343417.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 11, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0001193125-26-343417). ## Last eight quarters | Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | | --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | | Revenue | $m | [0.6](/filings/0001193125-25-265713.md) | [0.6 d](/filings/0001193125-26-126188.md) | [0.6](/filings/0001193125-26-220584.md) | [0.9](/filings/0001193125-26-343417.md) | [0.7](/filings/0001193125-25-265713.md) | [0.7 d](/filings/0001193125-26-126188.md) | [1.0](/filings/0001193125-26-220584.md) | [0.8](/filings/0001193125-26-343417.md) | | Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | | Operating margin | % | [(3112.5%)](/filings/0001193125-25-265713.md) | [(4293.3%) d](/filings/0001193125-26-126188.md) | [(5656.0%)](/filings/0001193125-26-220584.md) | [(4732.9%)](/filings/0001193125-26-343417.md) | [(5539.4%)](/filings/0001193125-25-265713.md) | [(6911.2%) d](/filings/0001193125-26-126188.md) | [(4218.1%)](/filings/0001193125-26-220584.md) | [(5481.0%)](/filings/0001193125-26-343417.md) | | Net margin | % | [(2634.6%)](/filings/0001193125-25-265713.md) | [(3465.3%) d](/filings/0001193125-26-126188.md) | [(4818.0%)](/filings/0001193125-26-343417.md) | [(4265.3%)](/filings/0001193125-26-343417.md) | [(4941.1%)](/filings/0001193125-25-265713.md) | [(6356.1%) d](/filings/0001193125-26-126188.md) | [(3925.6%)](/filings/0001193125-26-343417.md) | [(5136.1%)](/filings/0001193125-26-343417.md) | | Diluted EPS | $ per share | [(6.96)](/filings/0001193125-25-265713.md) | not reported | [(0.51)](/filings/0001193125-26-220584.md) | [(0.74)](/filings/0001193125-26-343417.md) | [(0.63)](/filings/0001193125-25-265713.md) | not reported | [(0.75)](/filings/0001193125-26-220584.md) | [(0.73)](/filings/0001193125-26-343417.md) | | Free cash flow | $m | not reported | [(19.8) d](/filings/0001193125-26-126188.md) | not reported | not reported | [(22.3) d](/filings/0001193125-25-265713.md) | [(30.7) d](/filings/0001193125-26-126188.md) | not reported | not reported | - Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure. - Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure. - Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure. - Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure. - Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted. - Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure. ## Last five fiscal years | Line item | Unit | FY (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) | | --- | --- | ---: | ---: | ---: | | Revenue | $m | [2.4](/filings/0000950170-25-037621.md) | [2.4](/filings/0001193125-26-126188.md) | [2.9](/filings/0001193125-26-126188.md) | | Gross margin | % | not reported | not reported | not reported | | Operating margin | % | [(1685.5%)](/filings/0000950170-25-037621.md) | [(3281.2%)](/filings/0001193125-26-126188.md) | [(5618.8%)](/filings/0001193125-26-126188.md) | | Net margin | % | [(862.9%)](/filings/0000950170-25-037621.md) | [(2650.0%)](/filings/0001193125-26-126188.md) | [(5026.0%)](/filings/0001193125-26-126188.md) | | Diluted EPS | $ per share | [(12.95)](/filings/0000950170-25-037621.md) | [(5.58)](/filings/0001193125-26-126188.md) | [(2.66)](/filings/0001193125-26-126188.md) | | Free cash flow | $m | [(38.1)](/filings/0000950170-25-037621.md) | [(59.7)](/filings/0001193125-26-126188.md) | [(133)](/filings/0001193125-26-126188.md) | - Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. - Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. - Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. - Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. - Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted. - Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing. ## Insider purchases and sales The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/upb/insiders.md) None in coverage. ## Funds that report holding it From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md) | Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before | | --- | --- | ---: | ---: | --- | --- | | [FMR LLC](/funds/315066.md) | 2026-06-30 | $56.5m | 8,162,897 | | Added +61,334 | | [ORBIMED ADVISORS LLC](/funds/1055951.md) | 2026-06-30 | $39.4m | 5,693,589 | | Unchanged | | [NORGES BANK](/funds/1374170.md) | 2026-06-30 | $26.1m | 3,768,619 | | New +3,768,619 | | [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $26.0m | 3,753,358 | | Added +382,669 | | [Decheng Capital LLC](/funds/2010850.md) | 2026-06-30 | $18.9m | 2,724,868 | | Unchanged | | [ENAVATE SCIENCES GP, LLC](/funds/1953107.md) | 2026-06-30 | $17.0m | 2,459,703 | | Unchanged | | [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $13.0m | 1,876,734 | | Added +3,160 | | [MILLENNIUM MANAGEMENT LLC](/funds/1273087.md) | 2026-06-30 | $7.9m | 1,143,775 | | Added +206,452 | | [D. E. Shaw & Co., Inc.](/funds/1009207.md) | 2026-06-30 | $7.2m | 1,036,044 | | Added +215,564 | | [JPMORGAN CHASE & CO](/funds/19617.md) | 2026-06-30 | $7.0m | 1,012,044 | | Added +549,043 | ## Recent filings [All 134 filings](/companies/upb/filings.md) | Filed | Accepted | Form | What it is | Accession | | --- | --- | --- | --- | --- | | 2026-09-01 | 07:05 ET | [8-K](/filings/0001193125-26-377485.md) | 7.01 Regulation FD disclosure; 8.01 Other events; 9.01 Financial statements and exhibits | 0001193125-26-377485 | | 2026-08-11 | 07:10 ET | [10-Q](/filings/0001193125-26-343417.md) | Quarterly report, period 2026-06-30 | 0001193125-26-343417 | | 2026-08-11 | 07:05 ET | [8-K](/filings/0001193125-26-343407.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001193125-26-343407 | | 2026-06-10 | 16:05 ET | [8-K](/filings/0001193125-26-265800.md) | 5.07 Shareholder vote results | 0001193125-26-265800 | | 2026-05-13 | 07:10 ET | [10-Q](/filings/0001193125-26-220584.md) | Quarterly report, period 2026-03-31 | 0001193125-26-220584 | | 2026-05-13 | 07:05 ET | [8-K](/filings/0001193125-26-220578.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001193125-26-220578 | | 2026-04-16 | 16:05 ET | [DEF 14A](/filings/0001193125-26-158966.md) | Proxy statement, period 2026-06-09 | 0001193125-26-158966 | | 2026-03-26 | 17:09 ET | [8-K](/filings/0001193125-26-126572.md) | 1.01 Entry into a material agreement; 9.01 Financial statements and exhibits | 0001193125-26-126572 | | 2026-03-26 | 16:04 ET | [10-K](/filings/0001193125-26-126188.md) | Annual report, period 2025-12-31 | 0001193125-26-126188 | | 2026-03-26 | 07:05 ET | [8-K](/filings/0001193125-26-125057.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001193125-26-125057 | ## Latest annual report [Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001193125-26-126188.md), filed Mar 26, 2026. ## Forecast league Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/9bd04eb5-b747-40e3-ba91-3210562b9891) ## About the filer - CIK: 2022626 - Tickers: UPB - Exchange: Nasdaq - SIC code: 2834 Pharmaceutical Preparations - State of incorporation: DE - Filer category:
Emerging growth company Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 29, 2026, 16:14 ET. No prices; not investment advice.