Upstream Bio, Inc. 8-K

What Happened
On February 11, 2026, Upstream Bio, Inc. announced preliminary, unaudited estimates that its cash, cash equivalents and short-term investments totaled approximately $341.5 million as of December 31, 2025. The company also hosted a webcast the same day to discuss top-line results from the Phase 2 VALIANT clinical trial of verekitug in severe asthma; the presentation is furnished as Exhibit 99.1 to the 8-K and is available on the company’s investor website.

Key Details

• Preliminary cash, cash equivalents and short-term investments: approximately $341.5 million as of Dec 31, 2025.
• These figures are unaudited, based on management estimates, and subject to completion of quarter- and year-end close procedures.
• The company’s independent auditors have not audited or reviewed these preliminary estimates. Final audited results will appear in Upstream Bio’s Form 10-K for the year ended Dec 31, 2025.
• Upstream Bio publicly discussed top-line Phase 2 VALIANT data for verekitug via a webcast; the presentation is filed as Exhibit 99.1.

Why It Matters
For investors, the cash estimate gives a snapshot of the company’s near-term liquidity and runway ahead of the audited year-end results. The Phase 2 VALIANT top-line presentation is material operational news about Upstream Bio’s clinical progress in severe asthma; investors will look for the upcoming Form 10-K and any subsequent releases for audited financials and more detailed trial data.