NASDAQ$UPB
Upstream Bio Inc · Q1 2026 earnings
Q1 2026 earnings ·
Briefing
Upstream Bio reported Q1 2026 revenue of $0 with a net loss of $40.6M and diluted loss per share of $0.75.
For the quarter ended March 31, 2026, Upstream Bio had no product sales and reported a net loss of $40.6 million versus $27.3 million in Q1 2025. Diluted loss per share was $0.75 compared with $0.51. R&D expense increased to $36.6 million from $25.8 million as verekitug development progressed. Collaboration revenue under the Maruho agreement was $1.0 million in the quarter.
- Net loss widened to $40.6M on higher R&D of $36.6M.
- Diluted loss per share was $0.75 on 54.3M average shares.
- Maruho collaboration revenue was $1.0M related to asthma trial work.
- No commercial product revenue; accumulated deficit reached $374.8M.
- Cash investments support continued clinical development per MD&A.
Headline financials
Revenue & EPS history
Upstream Bio Inc · Revenue · Quarterly
$1.03M
Forward guidance
Upstream Bio expects significant losses until verekitug is approved and does not provide quantitative revenue or EPS guidance in the quarterly filing.
Tailwinds
- Collaboration revenue provides partial offset to R&D spend.
- Interest income of $3.1M helped fund operations.
Headwinds
- R&D expense growth drove a wider net loss year over year.
- No near-term product revenue expected before regulatory approval.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 3 quarterly earnings reports · overlaid with Q1 2026
+0.8%
Avg return
Earnings day
-2.0%
Avg return
5 days after
+4.5%
Avg return
30 days after
67%
4 / 6 earnings
Positive
+7.9%
Q2 2025
Best reaction
-5.4%
Q1 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | +0.5% | -8.4% | — | |
| Q1 2026 | +4.7% | -5.3% | -31.9% | |
| Q3 2025 | -4.3% | -6.2% | +10.8% | |
| Q2 2025 | +7.9% | +7.0% | +28.8% | |
| Q1 2025 | -5.4% | +1.6% | +24.8% | |
| Q3 2024 | +1.7% | -0.7% | -10.3% |
Discussion
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