Upstream Bio Q1 net loss widens on higher R&D costs

Overview

• U.S. biotech reported Q1 collaboration revenue rose yr/yr as clinical programs advanced

• Net loss widened yr/yr, driven by higher R&D and personnel expenses

• Company expects cash and investments to fund operations through 2027

Result Drivers

• R&D SPENDING - Higher research and development expenses driven by increased clinical and manufacturing activity for verekitug programs

• PERSONNEL COSTS - Increased personnel-related expenses, including share-based compensation, contributed to higher operating expenses

Company press release: ID:nGNX7TM24q

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 1 "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 374.9% above its May 12 closing price of $8.95

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