| Income Statement | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-09-30 |
|---|---|---|---|---|
| Collaboration revenue | 683 | 937 | 566 | 607 |
| Research and development | 32,975 | 37,865 | 25,797 | 15,433 |
| General and administrative | 5,542 | 7,419 | 6,782 | 4,067 |
| Total operating expenses | 38,517 | 45,284 | 32,579 | 19,500 |
| Loss from operations | -37,834 | -44,347 | -32,013 | -18,893 |
| Change in fair value of preferred stock tranche right liabilities | 0 | 0 | - | - |
| Interest income | 4,105 | 4,431 | 4,743 | 2,904 |
| Other expense, net | -19 | -50 | - | -3 |
| Total other income, net | 4,086 | 4,381 | 4,743 | 2,901 |
| Net loss | -33,748 | -39,966 | -27,270 | -15,992 |
| Redeemable convertible preferred stock cumulative dividends | 0 | 0 | - | 5,041 |
| Net loss attributable to common stockholders | -33,748 | -39,966 | -27,270 | -21,033 |
| Earnings per share, basic, total | -0.63 | -0.74 | -0.51 | -6.96 |
| Earnings per share, diluted, total | -0.63 | -0.74 | -0.51 | -6.96 |
| Weighted average number of shares outstanding, basic | 53,930,946 | 53,770,868 | 53,617,723 | 3,023,155 |
| Weighted average number of shares outstanding, diluted | 53,930,946 | 53,770,868 | 53,617,723 | 3,023,155 |
Upstream Bio, Inc. (UPB)
Upstream Bio, Inc. (UPB)