Latest news with #stromallymphopoietin
Yahoo
27-05-2025
- Business
- Yahoo
Teva and Biolojic Design Initiate IND-enabling Studies of BD9, a Multibody Designed to Explore the Treatment of Atopic Dermatitis and Asthma
REHOVOT, Israel and WASHINGTON and TEL AVIV, Israel, May 27, 2025 (GLOBE NEWSWIRE) -- Teva Pharmaceutical Industries Ltd., (NYSE and TASE:TEVA) and Biolojic Design Ltd. ('Biolojic'), a biotechnology company using computational biology and artificial intelligence to design next generation, multifunctional antibodies known as multibodies, announced today that Teva initiated IND-enabling studies with BD9, a dual-specific multibody targeting both TSLP (Thymic stromal lymphopoietin) and IL-13. Teva has an exclusive license to develop BD9 for the treatment of TH2-driven inflammatory diseases such as atopic dermatitis and asthma. Teva's development of BD9 demonstrates the company's commitment to applying cutting-edge science to address unmet medical needs. By simultaneously blocking two key drivers of TH2-driven inflammation, BD9 has the potential to improve outcomes for patients with conditions such as atopic dermatitis and asthma, where current treatments fall short. The initiation of IND-enabling studies marks a critical milestone in translating this scientific innovation into a potential therapeutic option, paving the way for clinical trials and ultimately bringing hope to underserved patient populations. This progress exemplifies Teva's focus on advancing transformative therapies that expand access and impact through innovation. 'We're excited to have successfully achieved another milestone in our partnership with Teva,' said Yanay Ofran, PhD, CEO and founder of Biolojic Design. 'Biolojic's next generation antibody platform has now produced four antibodies that are in, or nearing, the clinic. From the clinical data we have recently seen, it is already clear that our precision antibodies have distinct advantages over traditional antibodies, extracting better efficacy and safety from complex biological targets.' Eric Hughes, MD, PhD, Executive Vice President, Global R&D and Chief Medical Officer at Teva said, 'With the initiation of IND-enabling studies we take a vital step toward delivering innovative treatments to patients who need them most. This pre-clinical progress underscores Teva's commitment to accelerating innovation and to improving health outcomes and access to underserved patient populations.' Under the terms of their agreement, Teva is developing BD9 worldwide. In exchange, Biolojic is eligible to receive milestone payments based on the achievement of certain pre-clinical, clinical, regulatory, and commercial milestones, including the initiation of IND-enabling studies. About Biolojic DesignBiolojic Design is pioneering the use of precision antibodies, including multibodies, a next generation antibody technology in which each arm of a conventional IgG (immunoglobulin G) antibody can bind to multiple targets, enabling a multibody to address complex disease biology. Biolojic designs its multibodies using computational biology and AI, and its platform generated the first AI-designed antibody to enter the clinic, which is now in phase 2 clinical trials. The company's pipeline focuses on autoimmune diseases and oncology, unlocking validated pathways that address large unmet needs. It is progressing its own pipeline, and has partnerships with several leading biopharmaceutical companies to enhance its ability to bring important new medicines to patients. For more information about Biolojic Design and its science and pipeline, please visit or follow us on LinkedIn. About TevaTeva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is a different kind of global biopharmaceutical leader, one that operates across the full spectrum of innovation to reliably deliver medicines to patients worldwide. For over 120 years, Teva's commitment to bettering health has never wavered. Today, the company's global network of capabilities enables its 37,000 employees across 57 markets to advance health by developing medicines for the future while championing the production of generics and biologics. We are dedicated to addressing patients' needs, now and in the future. Moving forward together with science that treats, inspired by the people we serve. To learn more about how Teva is all in for better health, visit Teva Cautionary Note Regarding Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on management's current beliefs and expectations and are subject to substantial risks and uncertainties, both known and unknown, that could cause our future results, performance or achievements to differ significantly from that expressed or implied by such forward-looking statements. You can identify these forward-looking statements by the use of words such as 'should,' 'expect,' 'anticipate,' 'estimate,' 'target,' 'may,' 'project,' 'guidance,' 'intend,' 'plan,' 'believe' and other words and terms of similar meaning and expression in connection with any discussion of future operating or financial performance. Important factors that could cause or contribute to such differences include risks relating to: our partnership with Biolojic; our ability to successfully develop BD9, a Dual-Specific Antibody Designed to Explore the Treatment of TH2-driven inflammatory diseases; our ability to successfully compete in the marketplace, including our ability to develop and commercialize additional pharmaceutical products; our ability to successfully execute our Pivot to Growth strategy, including to expand our innovative and biosimilar medicines pipeline and profitably commercialize the innovative medicines and biosimilar portfolio, whether organically or through business development, to sustain and focus our portfolio of generic medicines; and to execute on our organizational transformation and to achieve expected cost savings and other factors discussed in our Quarterly Report on Form 10-Q for the first quarter of 2025 and in our Annual Report on Form 10-K for the year ended December 31, 2024, including in the section captioned 'Risk Factors' and 'Forward-Looking Statements.' Forward-looking statements speak only as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statements or other information contained herein, whether as a result of new information, future events or otherwise. You are cautioned not to put undue reliance on these forward-looking statements. Teva Media Inquiries TevaCommunicationsNorthAmerica@ Teva Investor Relations Inquiries TevaIR@ while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
27-05-2025
- Business
- Yahoo
Teva and Biolojic Design Initiate IND-enabling Studies of BD9, a Multibody Designed to Explore the Treatment of Atopic Dermatitis and Asthma
REHOVOT, Israel and WASHINGTON and TEL AVIV, Israel, May 27, 2025 (GLOBE NEWSWIRE) -- Teva Pharmaceutical Industries Ltd., (NYSE and TASE:TEVA) and Biolojic Design Ltd. ('Biolojic'), a biotechnology company using computational biology and artificial intelligence to design next generation, multifunctional antibodies known as multibodies, announced today that Teva initiated IND-enabling studies with BD9, a dual-specific multibody targeting both TSLP (Thymic stromal lymphopoietin) and IL-13. Teva has an exclusive license to develop BD9 for the treatment of TH2-driven inflammatory diseases such as atopic dermatitis and asthma. Teva's development of BD9 demonstrates the company's commitment to applying cutting-edge science to address unmet medical needs. By simultaneously blocking two key drivers of TH2-driven inflammation, BD9 has the potential to improve outcomes for patients with conditions such as atopic dermatitis and asthma, where current treatments fall short. The initiation of IND-enabling studies marks a critical milestone in translating this scientific innovation into a potential therapeutic option, paving the way for clinical trials and ultimately bringing hope to underserved patient populations. This progress exemplifies Teva's focus on advancing transformative therapies that expand access and impact through innovation. 'We're excited to have successfully achieved another milestone in our partnership with Teva,' said Yanay Ofran, PhD, CEO and founder of Biolojic Design. 'Biolojic's next generation antibody platform has now produced four antibodies that are in, or nearing, the clinic. From the clinical data we have recently seen, it is already clear that our precision antibodies have distinct advantages over traditional antibodies, extracting better efficacy and safety from complex biological targets.' Eric Hughes, MD, PhD, Executive Vice President, Global R&D and Chief Medical Officer at Teva said, 'With the initiation of IND-enabling studies we take a vital step toward delivering innovative treatments to patients who need them most. This pre-clinical progress underscores Teva's commitment to accelerating innovation and to improving health outcomes and access to underserved patient populations.' Under the terms of their agreement, Teva is developing BD9 worldwide. In exchange, Biolojic is eligible to receive milestone payments based on the achievement of certain pre-clinical, clinical, regulatory, and commercial milestones, including the initiation of IND-enabling studies. About Biolojic DesignBiolojic Design is pioneering the use of precision antibodies, including multibodies, a next generation antibody technology in which each arm of a conventional IgG (immunoglobulin G) antibody can bind to multiple targets, enabling a multibody to address complex disease biology. Biolojic designs its multibodies using computational biology and AI, and its platform generated the first AI-designed antibody to enter the clinic, which is now in phase 2 clinical trials. The company's pipeline focuses on autoimmune diseases and oncology, unlocking validated pathways that address large unmet needs. It is progressing its own pipeline, and has partnerships with several leading biopharmaceutical companies to enhance its ability to bring important new medicines to patients. For more information about Biolojic Design and its science and pipeline, please visit or follow us on LinkedIn. About TevaTeva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is a different kind of global biopharmaceutical leader, one that operates across the full spectrum of innovation to reliably deliver medicines to patients worldwide. For over 120 years, Teva's commitment to bettering health has never wavered. Today, the company's global network of capabilities enables its 37,000 employees across 57 markets to advance health by developing medicines for the future while championing the production of generics and biologics. We are dedicated to addressing patients' needs, now and in the future. Moving forward together with science that treats, inspired by the people we serve. To learn more about how Teva is all in for better health, visit Teva Cautionary Note Regarding Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on management's current beliefs and expectations and are subject to substantial risks and uncertainties, both known and unknown, that could cause our future results, performance or achievements to differ significantly from that expressed or implied by such forward-looking statements. You can identify these forward-looking statements by the use of words such as 'should,' 'expect,' 'anticipate,' 'estimate,' 'target,' 'may,' 'project,' 'guidance,' 'intend,' 'plan,' 'believe' and other words and terms of similar meaning and expression in connection with any discussion of future operating or financial performance. Important factors that could cause or contribute to such differences include risks relating to: our partnership with Biolojic; our ability to successfully develop BD9, a Dual-Specific Antibody Designed to Explore the Treatment of TH2-driven inflammatory diseases; our ability to successfully compete in the marketplace, including our ability to develop and commercialize additional pharmaceutical products; our ability to successfully execute our Pivot to Growth strategy, including to expand our innovative and biosimilar medicines pipeline and profitably commercialize the innovative medicines and biosimilar portfolio, whether organically or through business development, to sustain and focus our portfolio of generic medicines; and to execute on our organizational transformation and to achieve expected cost savings and other factors discussed in our Quarterly Report on Form 10-Q for the first quarter of 2025 and in our Annual Report on Form 10-K for the year ended December 31, 2024, including in the section captioned 'Risk Factors' and 'Forward-Looking Statements.' Forward-looking statements speak only as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statements or other information contained herein, whether as a result of new information, future events or otherwise. You are cautioned not to put undue reliance on these forward-looking statements. Teva Media Inquiries TevaCommunicationsNorthAmerica@ Teva Investor Relations Inquiries TevaIR@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
27-05-2025
- Business
- Yahoo
Teva and Biolojic Design Initiate IND-enabling Studies of BD9, a Multibody Designed to Explore the Treatment of Atopic Dermatitis and Asthma
REHOVOT, Israel and WASHINGTON and TEL AVIV, Israel, May 27, 2025 (GLOBE NEWSWIRE) -- Teva Pharmaceutical Industries Ltd., (NYSE and TASE:TEVA) and Biolojic Design Ltd. ('Biolojic'), a biotechnology company using computational biology and artificial intelligence to design next generation, multifunctional antibodies known as multibodies, announced today that Teva initiated IND-enabling studies with BD9, a dual-specific multibody targeting both TSLP (Thymic stromal lymphopoietin) and IL-13. Teva has an exclusive license to develop BD9 for the treatment of TH2-driven inflammatory diseases such as atopic dermatitis and asthma. Teva's development of BD9 demonstrates the company's commitment to applying cutting-edge science to address unmet medical needs. By simultaneously blocking two key drivers of TH2-driven inflammation, BD9 has the potential to improve outcomes for patients with conditions such as atopic dermatitis and asthma, where current treatments fall short. The initiation of IND-enabling studies marks a critical milestone in translating this scientific innovation into a potential therapeutic option, paving the way for clinical trials and ultimately bringing hope to underserved patient populations. This progress exemplifies Teva's focus on advancing transformative therapies that expand access and impact through innovation. 'We're excited to have successfully achieved another milestone in our partnership with Teva,' said Yanay Ofran, PhD, CEO and founder of Biolojic Design. 'Biolojic's next generation antibody platform has now produced four antibodies that are in, or nearing, the clinic. From the clinical data we have recently seen, it is already clear that our precision antibodies have distinct advantages over traditional antibodies, extracting better efficacy and safety from complex biological targets.' Eric Hughes, MD, PhD, Executive Vice President, Global R&D and Chief Medical Officer at Teva said, 'With the initiation of IND-enabling studies we take a vital step toward delivering innovative treatments to patients who need them most. This pre-clinical progress underscores Teva's commitment to accelerating innovation and to improving health outcomes and access to underserved patient populations.' Under the terms of their agreement, Teva is developing BD9 worldwide. In exchange, Biolojic is eligible to receive milestone payments based on the achievement of certain pre-clinical, clinical, regulatory, and commercial milestones, including the initiation of IND-enabling studies. About Biolojic DesignBiolojic Design is pioneering the use of precision antibodies, including multibodies, a next generation antibody technology in which each arm of a conventional IgG (immunoglobulin G) antibody can bind to multiple targets, enabling a multibody to address complex disease biology. Biolojic designs its multibodies using computational biology and AI, and its platform generated the first AI-designed antibody to enter the clinic, which is now in phase 2 clinical trials. The company's pipeline focuses on autoimmune diseases and oncology, unlocking validated pathways that address large unmet needs. It is progressing its own pipeline, and has partnerships with several leading biopharmaceutical companies to enhance its ability to bring important new medicines to patients. For more information about Biolojic Design and its science and pipeline, please visit or follow us on LinkedIn. About TevaTeva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is a different kind of global biopharmaceutical leader, one that operates across the full spectrum of innovation to reliably deliver medicines to patients worldwide. For over 120 years, Teva's commitment to bettering health has never wavered. Today, the company's global network of capabilities enables its 37,000 employees across 57 markets to advance health by developing medicines for the future while championing the production of generics and biologics. We are dedicated to addressing patients' needs, now and in the future. Moving forward together with science that treats, inspired by the people we serve. To learn more about how Teva is all in for better health, visit Teva Cautionary Note Regarding Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on management's current beliefs and expectations and are subject to substantial risks and uncertainties, both known and unknown, that could cause our future results, performance or achievements to differ significantly from that expressed or implied by such forward-looking statements. You can identify these forward-looking statements by the use of words such as 'should,' 'expect,' 'anticipate,' 'estimate,' 'target,' 'may,' 'project,' 'guidance,' 'intend,' 'plan,' 'believe' and other words and terms of similar meaning and expression in connection with any discussion of future operating or financial performance. Important factors that could cause or contribute to such differences include risks relating to: our partnership with Biolojic; our ability to successfully develop BD9, a Dual-Specific Antibody Designed to Explore the Treatment of TH2-driven inflammatory diseases; our ability to successfully compete in the marketplace, including our ability to develop and commercialize additional pharmaceutical products; our ability to successfully execute our Pivot to Growth strategy, including to expand our innovative and biosimilar medicines pipeline and profitably commercialize the innovative medicines and biosimilar portfolio, whether organically or through business development, to sustain and focus our portfolio of generic medicines; and to execute on our organizational transformation and to achieve expected cost savings and other factors discussed in our Quarterly Report on Form 10-Q for the first quarter of 2025 and in our Annual Report on Form 10-K for the year ended December 31, 2024, including in the section captioned 'Risk Factors' and 'Forward-Looking Statements.' Forward-looking statements speak only as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statements or other information contained herein, whether as a result of new information, future events or otherwise. You are cautioned not to put undue reliance on these forward-looking statements. Teva Media Inquiries TevaCommunicationsNorthAmerica@ Teva Investor Relations Inquiries TevaIR@
Business Upturn
06-05-2025
- Business
- Business Upturn
Upstream Bio Reports First Quarter 2025 Financial Results and Accelerates Guidance on All Clinical Programs
By GlobeNewswire Published on May 6, 2025, 16:00 IST – Top-line data from Phase 2 clinical trial of verekitug in patients with chronic rhinosinusitis with nasal polyps expected in the third quarter of 2025 – – Top-line data from Phase 2 clinical trial of verekitug in patients with severe asthma now expected in the first half of 2026 – – First patient in Phase 2 clinical trial of verekitug in patients with chronic obstructive pulmonary disease to be dosed in mid-2025 – WALTHAM, Mass., May 06, 2025 (GLOBE NEWSWIRE) — Upstream Bio, Inc. (Nasdaq: UPB), a clinical-stage company developing treatments for inflammatory diseases, with an initial focus on severe respiratory disorders, today reported financial results for the first quarter ended March 31, 2025, and provided a summary of recent business highlights. The Company is developing verekitug, the only monoclonal antibody currently in clinical development that targets and inhibits the thymic stromal lymphopoietin (TSLP) receptor, in multiple severe respiratory diseases including chronic rhinosinusitis with nasal polyps (CRSwNP), severe asthma and chronic obstructive pulmonary disease (COPD). 'This quarter we made excellent progress in our development of verekitug, positioning us well to deliver on our upcoming clinical milestones. We are pleased to accelerate our guidance on several near-term events, including the top-line data readout from our Phase 2 clinical trial of verekitug in patients with CRSwNP, expected in the third quarter of this year,' said Rand Sutherland, MD, Chief Executive Officer of Upstream Bio. 'In addition, we now anticipate reporting top-line data from our Phase 2 clinical trial in severe asthma in the first half of 2026. We also now expect to dose the first patient in our Phase 2 clinical trial in COPD in mid-2025. We look forward to sharing further updates as we reach these key milestones.' Dr. Sutherland continued, 'Verekitug is the only known molecule currently in clinical development targeting the TSLP receptor. Early clinical data suggest that this unique mechanism of action has the potential to meaningfully impact disease activity in patients with these severe respiratory diseases through both differentiated efficacy and an extended dosing interval, and we are testing the therapeutic implications of these observations across our development programs.' First Quarter 2025 and Recent Business Highlights Top-line data from Phase 2 clinical trial in patients with CRSwNP expected in the third quarter of 2025: In January 2025, Upstream Bio completed patient enrollment in its Phase 2 multicenter, randomized, placebo-controlled, parallel group clinical trial designed to assess the efficacy and safety of verekitug in participants with CRSwNP. Top-line data from this clinical trial is expected to be reported in the third quarter of 2025. The Company has designed this trial using endpoints that, pending interactions with regulatory authorities, could produce data to support submissions for product approval. Patients were randomized to receive either 100 mg of verekitug or placebo administered subcutaneously every 12 weeks over a 24-week treatment period. The primary endpoint is change from baseline in nasal polyp score (NPS) at week 24, a primary endpoint that has been used in several registrational trials for other biologic treatments for CRSwNP. Secondary endpoints include: nasal congestion score, sinus opacification, difficulty with sense of smell, nasal symptoms, percentage of participants requiring systemic corticosteroids or nasal polyp surgery, time to nasal polyp surgery and/or time to systemic corticosteroids for nasal polyps, total symptom score, and characterization of safety. Top-line data from Phase 2 clinical trial in patients with severe asthma now expected in the first half of 2026: The Company has designed this trial using endpoints that, pending interactions with regulatory authorities, could produce data to support submissions for product approval. Upstream Bio also plans to initiate a long-term safety and efficacy extension study (Phase 2 LTE) in certain adult patients with severe asthma following completion of its Phase 2 severe asthma trial with the first patient expected to transition to the LTE study in the second quarter of 2025. First patient dosing in Phase 2 clinical trial in COPD expected in mid-2025: Upstream Bio is initiating development of verekitug in a Phase 2 clinical trial in patients with moderate-to-severe COPD and now expects to dose the first patient in mid-2025. The Company has designed this trial using endpoints that, pending interactions with regulatory authorities, could produce data to support submissions for product approval. First Quarter 2025 Financial Results As of March 31, 2025, Upstream Bio had cash, cash equivalents and short-term investments of $431.4 million, which is expected to fund planned operations through 2027. Research and development expenses were $25.8 million for the quarter ended March 31, 2025, compared to $11.7 million for the same period in 2024. The increase of $14.1 million was primarily driven by an increase in clinical and manufacturing expenses related to the Company's verekitug program. General and administrative expenses were $6.8 million for the quarter ended March 31, 2025, compared to $4.0 million for the same period in 2024. The increase of $2.8 million was primarily driven by an increase in personnel-related expenses, including share-based compensation, and professional service fees. Net loss was $27.3 million for the quarter ended March 31, 2025, compared to a net loss of $10.9 million for the same period in 2024. The increase of $16.4 million was largely due to increased research and development and general and administrative expenses, partially offset by increased interest income. Upcoming Events Upstream Bio expects to participate in the following investor conferences and medical congresses: Goldman Sachs 46 th Annual Global Healthcare Conference 2025, Miami, FL, Upstream Bio presentation on June 11, 2025, at 9:20 a.m. ET Annual Global Healthcare Conference 2025, Miami, FL, Upstream Bio presentation on June 11, 2025, at 9:20 a.m. ET European Academy of Allergy and Clinical Immunology (EAACI) Congress 2025, Glasgow, United Kingdom, June 13-16, 2025 About Upstream Bio Upstream Bio is a clinical-stage biotechnology company developing treatments for inflammatory diseases, with an initial focus on severe respiratory disorders. Upstream Bio is developing verekitug, the only known antagonist currently in clinical development that targets the receptor for thymic stromal lymphopoietin, a cytokine which is a clinically validated driver of inflammatory response positioned upstream of multiple signaling cascades that affect a variety of immune mediated diseases. Upstream Bio has advanced this highly potent monoclonal antibody into separate Phase 2 trials for the treatment of severe asthma and chronic rhinosinusitis with nasal polyps and is initiating development in chronic obstructive pulmonary disease. Upstream Bio's team is committed to maximizing verekitug's unique attributes to address the substantial unmet needs for patients underserved by today's standard of care. To learn more, please visit . Upstream Bio intends to use the investor relations page on its website as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD. Accordingly, investors should monitor its website in addition to following press releases, filings with the Securities and Exchange Commission (SEC), public conference calls, presentations and webcasts. Forward-Looking Statements This press release contains 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. These statements may be identified by words such as 'aims,' 'anticipates,' 'believes,' 'continue,' 'could,' 'estimates,' 'expects,' 'forecasts,' 'goal,' 'intends,' 'may,' 'plans,' 'possible,' 'potential,' 'predict,' 'project,' 'seeks,' 'should,' 'target,' 'will' and variations of these words or similar expressions. Any statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements. These forward-looking statements include, without limitation, express or implied statements regarding: the clinical development of verekitug for the treatment of severe asthma, CRSwNP and COPD, including the initiation, timing, progress and results of ongoing and planned clinical trials; expectations for future discussions with regulatory authorities and the potential of the endpoints of the Company's clinical trials to produce data that could support submissions for product approval; expectations regarding the safety, efficacy or tolerability of verekitug; Upstream Bio's expected operating expenses and capital expenditure requirements, including its cash runway through 2027; and participation at upcoming investor conferences and medical congresses. Any forward-looking statements in this press release are based on the Company's current expectations, estimates and projections only as of the date of this release and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. Readers are cautioned that actual results, levels of activity, safety, efficacy, performance or events and circumstances could differ materially from those expressed or implied in the Company's forward-looking statements due to a variety of risks and uncertainties, which include, without limitation, risks and uncertainties related to: Upstream Bio's ability to advance verekitug through clinical development, and to obtain regulatory approval of and ultimately commercialize verekitug on the expected timeline, if at all; the initiation, timing, progress and results of clinical trials; Upstream Bio's ability to fund its development activities and achieve development goals; Upstream Bio's dependence on third parties to conduct clinical trials and manufacture verekitug, and commercialize verekitug, if approved; Upstream Bio's ability to attract, hire and retain key personnel, and protect its intellectual property; Upstream Bio's financial condition and need for substantial additional funds in order to complete development activities and commercialize verekitug, if approved; regulatory developments and approval processes of the U.S. Food and Drug Administration and comparable foreign regulatory authorities; Upstream Bio's competitors and industry; and other risks and uncertainties described in greater detail under the caption 'Risk Factors' in Upstream Bio's most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, as well as any subsequent filings with the SEC. Any forward-looking statements represent Upstream Bio's views only as of today and should not be relied upon as representing its views as of any subsequent date. Upstream Bio explicitly disclaims any obligation or undertaking to update any forward-looking statements contained herein to reflect any change in its expectations or any changes in events, conditions or circumstances on which any such statement is based except to the extent required by law, and claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. UPSTREAM BIO, INC. CONDENSED CONSOLIDATED BALANCE SHEET (IN THOUSANDS) (UNAUDITED) March 31, December 31, 2025 2024 Assets Current assets: Cash and cash equivalents $ 71,312 $ 325,892 Short-term investments 360,068 144,559 Accounts receivable 566 613 Prepaid expenses and other current assets 21,841 8,096 Total current assets 453,787 479,160 Property and equipment, net 539 582 Operating lease right-of-use assets 1,649 1,783 Restricted cash 194 194 Total assets $ 456,169 $ 481,719 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 4,718 $ 4,041 Accrued expenses and other current liabilities 4,141 5,992 Operating lease liabilities, current portion 708 704 Total current liabilities 9,567 10,737 Operating lease liabilities, net of current portion 992 1,130 Total liabilities 10,559 11,867 Stockholders' equity: Common stock 53 53 Additional paid-in capital 663,239 660,604 Accumulated other comprehensive income (loss) 368 (25 ) Accumulated deficit (218,050 ) (190,780 ) Total stockholders' equity 445,610 469,852 Total liabilities and stockholders' equity $ 456,169 $ 481,719 UPSTREAM BIO, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (IN THOUSANDS) (UNAUDITED) Three Months Ended March 31, 2025 2024 Collaboration revenue $ 566 $ 640 Operating expenses: Research and development 25,797 11,691 General and administrative 6,782 3,962 Total operating expenses 32,579 15,653 Loss from operations (32,013 ) (15,013 ) Other income (expense): Change in fair value of preferred stock tranche right liability — 2,859 Interest income 4,743 1,266 Other expense, net — (6 ) Total other income, net 4,743 4,119 Net loss $ (27,270 ) $ (10,894 ) Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
