stockrow
Monday 9 November 2026
Export UPB’s income statement to Excel — free account
Upstream Bio, Inc.
UPBUpstream Bio, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.9 million, up 20.4% from fiscal 2024.
- Revenue
- −17.5%
- EPS
- +1.35%
- Free cash flow
- +9.33%
Quarter to June 2026, against a year earlier
3.23
0.02
+0.62%
Follow UPB
Alert me
Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | — | — | 2 | 2 | 3 | 3 | +9.5% | 3 | 1 | 1 | (25.8%) | |
| Gross margin, % | — | — | — | — | — | — | — | 100.00 | 100.00 | 100.00 | 100.00 | 0.0 pt | ||||||
| EBT | — | — | — | — | — | — | — | (21) | (63) | (143) | (156) | +164.3% | ||||||
| EBT margin, % | — | — | — | — | — | — | — | (862.90) | (2,650.04) | (5,026.03) | (4,955.67) | (4,163.1) pt | ||||||
| Net income | — | — | — | — | — | — | — | (21) | (63) | (143) | (156) | +164.3% | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | — | — | — | — | 0.81 | 0.17 | 0.05 | 0.06 | (74.4%) | |||||
| Earnings | — | — | — | — | — | — | — | (12.95) | (5.58) | (2.66) | (2.90) | (54.7%) | ||||||
| Cash flow | — | — | — | — | — | — | — | (12.84) | (4.32) | (2.47) | (2.50) | (56.1%) | ||||||
| Capex | — | — | — | — | — | — | — | (0.05) | (0.04) | 0.00 | 0.00 | (74.8%) | ||||||
| Free cash flow | — | — | — | — | — | — | — | (12.89) | (4.36) | (2.48) | (2.50) | (56.2%) | ||||||
| Book value | — | — | — | — | — | — | — | 36.50 | 34.34 | 6.31 | 4.97 | (58.4%) | ||||||
| Shares, m | — | — | — | — | — | — | — | 3 | 14 | 54 | 54 | +327.0% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | |||||
| P/S | — | — | — | — | — | — | — | 27.97 | 317.02 | 512.30 | 55.81 | 285.8 | ||||||
| P/B | — | — | — | — | — | — | — | 0.00 | 1.60 | 4.30 | 0.65 | 2.0 | ||||||
| EV/Sales | — | — | — | — | — | — | — | (64.82) | 118.52 | 392.64 | (26.93) | 148.8 | ||||||
| EV/FCF | — | — | — | — | — | — | — | 2.77 | (4.69) | (8.39) | 0.62 | (3.4) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | — | — | — | (38) | (59) | (133) | (136) | +87.5% | |||||
| Capex | — | — | — | — | — | — | — | 0 | (1) | 0 | 0 | +7.0% | ||||||
| Free cash flow | — | — | — | — | — | — | — | (38) | (60) | (133) | (136) | +87.2% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | — | — | — | 110 | 468 | 338 | 270 | +75.0% | |||||
| Net debt | — | — | — | — | — | — | — | (110) | (470) | (342) | (261) | +76.4% | ||||||
| Shareholders’ equity | — | — | — | — | — | — | — | 108 | 470 | 340 | 271 | +77.5% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | — | — | — | — | 0.00 | (25.51) | (34.34) | (44.61) | (34.3) pt | |||||
| ROIC | — | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | (1,100.93) | 0.0 pt | ||||||
| ROE | — | — | — | — | — | — | — | 0.00 | (44.07) | (35.43) | (46.05) | (35.4) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | — | — | 38 | 52 | 75 | — | +40.5% | |||||
| Revenue/emp, $m | — | — | — | — | — | — | — | 0.06 | 0.05 | 0.04 | — | (22.1%) | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026
Upstream Bio, Inc. vs peers in Biotechnology (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| TRDA Entrada Therapeutics, Inc. | $191.5M | — (loss-making) | — (loss-making) | −43.93% (below 0%: shrinking) | n/m | −7.05% (below 0%: shrinking) | 100.00% | (4,606.52%) | Compare |
| CGEN Compugen Ltd. | $185.7M | 5.2× | — (loss-making) | +107.00% (above 0%: growing) | n/m | −155.42% (below 0%: shrinking) | (3.54%) | (339.62%) | Compare |
| MDWD MediWound Ltd. | $184.0M | — (loss-making) | — (loss-making) | −45.83% (below 0%: shrinking) | n/m | −49.90% (below 0%: shrinking) | 10.90% | (305.89%) | Compare |
| BCYC Bicycle Therapeutics PLC Sponsored ADR | $182.5M | — (loss-making) | — (loss-making) | +190.24% (above 0%: growing) | n/m | +43.48% (above 0%: growing) | 100.00% | (39.57%) | Compare |
| ACOG Alpha Cognition Inc. | $180.5M | — (loss-making) | — (loss-making) | +267.56% (above 0%: growing) | n/m | −109.25% (below 0%: shrinking) | 94.80% | (127.29%) | Compare |
| WHWK Whitehawk Therapeutics, Inc. | $178.4M | — (loss-making) | — (loss-making) | +33.48% (above 0%: growing) | n/m | +72.57% (above 0%: growing) | 89.36% | 0.00% | Compare |
| UPB Upstream Bio, Inc. | $176.9M | — (loss-making) | — (loss-making) | −17.50% (below 0%: shrinking) | n/m | +9.33% (above 0%: growing) | 100.00% | (5,480.98%) | |
| IVVD Invivyd, Inc. | $166.0M | — (loss-making) | — (loss-making) | +21.20% (above 0%: growing) | n/m | −226.89% (below 0%: shrinking) | 91.09% | (320.76%) | Compare |
| BBOT BridgeBio Oncology Therapeutics, Inc | $163.6M | — (loss-making) | — | — | n/m | −88.78% (below 0%: shrinking) | — | 0.00% | Compare |
| Median of peers | $181.5M | — | — | +33.48% | — | −69.34% | 91.09% | (216.59%) |
Pay and ownership Proxy statement filed 16 April 2026
Ownership
Directors and executive officers, together
16.46%
FMR LLC
14.58%
Erez Chimovits, M.B.A., M.Sc.
10.52%
Entities affiliated with OrbiMed
10.46%
AI Upstream LLC
10.10%
Decheng Capital Global Life Sciences Fund IV, L.P.
6.04%
Norges Bank
5.30%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement