Upstream Bio Q2 net loss narrows slightly on lower R&D costs

Upstream Bio

11/08/2026 12:14

Overview
US biotech firm reported Q2 collaboration revenue declined yr/yr
Q2 net loss narrowed slightly from same period last yr
Company completed enrollment in Phase 2 COPD trial; Phase 3 asthma, CRSwNP trials on track for Q1 2027

Outlook
Company plans to initiate Phase 3 trials in severe asthma and CRSwNP in Q1 2027
Upstream Bio expects Phase 2 COPD trial data in the second half of 2027
Company says cash position expected to fund planned operations through 2027

Result Drivers
R&D SPENDING - Q2 research and development expenses decreased due to lower manufacturing costs, partially offset by higher personnel and clinical trial expenses
CLINICAL TRIAL PROGRESS - Co completed enrollment in Phase 2 COPD trial and advanced preparations for Phase 3 trials in severe asthma and CRSwNP

Company press release: ID:nGNX63HwQ2

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Collaboration Revenue
 
$773,000
 
Q2 Net Loss
 
$39.70 mln
 
Q2 Operating Expenses
 
$43.14 mln
 

Analyst Coverage
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

Reuters Recommended Reads
Aug 10 - Biohaven Q2 net loss narrows on lower R&D spend
Aug 10 - Metagenomi Q2 net loss widens cash runway seen through 2027
Aug 10 - Oruka Therapeutics Q2 net loss widens on higher R&D costs

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(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.)