Upstream Bio Q4 net loss widens on higher R&D costs
Overview
US biotech firm's Q4 collaboration revenue was modest, net loss widened due to higher R&D costs
Company expects cash of $341.5 mln to fund operations through 2027
Company plans to start Phase 3 trials for verekitug in severe asthma and CRSwNP in Q1 2027
Outlook
Company plans to initiate Phase 3 dosing in severe asthma and CRSwNP in Q1 2027
Upstream Bio expects cash position to fund operations through 2027
Company intends to meet with regulators in 2026 to finalize Phase 3 plans
Result Drivers
R&D SPENDING - Higher research and development expenses driven by increased clinical and manufacturing activity for verekitug programs
CLINICAL TRIAL PROGRESS - Positive Phase 2 trial results for verekitug in severe asthma and CRSwNP supported continued investment in late-stage development
ADMINISTRATIVE COSTS - Higher general and administrative expenses due to increased professional fees and personnel-related costs
Company press release: ID:nGNX1DGyg1
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Collaboration Revenue |
| $668,000 |
|
Q4 Net Income |
| -$42.46 mln |
|
Q4 Income From Operations |
| -$46.17 mln |
|
Q4 Operating Expenses |
| $46.84 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", no "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 $45.00, about 375.2% above its March 25 closing price of $9.47
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