Upstream Bio, Inc.

NasdaqGS:UPB Stock Report

Market Cap: US$408.7m

Upstream Bio Management

Management criteria checks 3/4

Upstream Bio's CEO is E. Sutherland, appointed in Apr 2024, has a tenure of 2.25 years. total yearly compensation is $4.30M, comprised of 15.1% salary and 84.9% bonuses, including company stock and options. directly owns 0.13% of the company’s shares, worth $531.79K. The average tenure of the management team and the board of directors is 2.3 years and 3.4 years respectively.

Key information

E. Sutherland

Chief executive officer

US$4.3m

Total compensation

CEO salary percentage15.11%
CEO tenure2.3yrs
CEO ownership0.1%
Management average tenure2.3yrs
Board average tenure3.4yrs

Recent management updates

Recent updates

Analysis Article • Jun 03

Will Upstream Bio (NASDAQ:UPB) Spend Its Cash Wisely?

There's no doubt that money can be made by owning shares of unprofitable businesses. For example, biotech and mining...
Seeking Alpha • May 29

Upstream Bio: The Reset Is The Opportunity, Initiating At Buy

Summary I am initiating a Buy rating on Verekitug, the lead asset of Upstream Bio, a small-cap biotech trading at an enterprise value under $200M. Verekitug's quarterly dosing and differentiated TSLPR mechanism offer competitive efficacy in severe asthma and CRSwNP, with strong phase 2 data supporting further development. UPB's key catalysts include FDA interactions, phase 3 trial initiations in 2027, and a COPD phase 2 readout, all of which could drive significant re-rating. Risks include asset concentration, financing needs beyond 2027, and intense competition from established biologics, but current valuation appears disconnected from conservative peak-sales scenarios. Read the full article on Seeking Alpha
Analysis Article • Jul 27

Upstream Bio (NASDAQ:UPB) Is In A Good Position To Deliver On Growth Plans

We can readily understand why investors are attracted to unprofitable companies. For example, although Amazon.com made...
Seeking Alpha • Apr 17

Upstream Bio: Verekitug, A Longer-Acting Dupixent? - Key Data Is Imminent

Summary Upstream Bio's IPO raised ~$293m, focusing on developing verekitug, a unique TSLP receptor antagonist for severe respiratory disorders, now in Phase 2 trials. The company has a strong cash position of $471m, despite a net loss of $63m in 2024, providing a long funding runway. Verekitug's less frequent dosing and good safety profile offer potential advantages, but its success hinges on upcoming Phase 2 data readouts. Given the competitive market and high failure rates in clinical studies, investors should be aware that Upstream must be considered a higher risk investment. Nevertheless, I'm "sticking my neck out" and suggesting the stock merits a "Buy" recommendation, ahead of Chronic rhinosinusitis data due before the end of this year. Read the full article on Seeking Alpha
Analysis Article • Apr 12

We Think Upstream Bio (NASDAQ:UPB) Can Afford To Drive Business Growth

We can readily understand why investors are attracted to unprofitable companies. For example, although Amazon.com made...
Seeking Alpha • Dec 16

Upstream Bio: Treating Respiratory Disorders With TSLP Targeting Differentiation

Summary Upstream Bio, Inc. raised approximately $293 million in an IPO, positioning it to leverage upstream pathway targeting of TSLP for treatment of patients with respiratory disorders using verekitug. Release of results from the phase 2 study, using verekitug for the treatment of patients with Chronic Rhinosinusitis with Nasal Polyps, expected to be released in the 2nd half of 2025. The global Chronic Rhinosinusitis market is expected to reach $3.5 billion by 2027. Other catalysts are phase 2 study data using verekitug for Severe Asthma and initiation of mid-stage study for COPD, expected 2nd half 2026 and 2nd half 2025 respectively. Read the full article on Seeking Alpha
Seeking Alpha • Dec 07

Upstream Bio: Attractive, But Let's Wait For More Data And Lock-Up Expiry

Summary Upstream Bio's sole drug, verekitug, targets severe asthma, CRSwNP, and COPD, with promising early phase 2 data expected in 2025 and 2026. Verekitug, a TSLP receptor inhibitor, shows higher efficacy in reducing FeNO and eosinophils compared to competitors like Tezepelumab, Dupilumab, and Mepolizumab. With a market cap of $1.18bn and $220.7 million in cash, UPB has a cash runway through 2027, despite high valuation risks. I find UPB attractive but will wait for phase 2 data and the lock-up period to expire before considering an investment. Read the full article on Seeking Alpha

CEO Compensation Analysis

How has E. Sutherland's remuneration changed compared to Upstream Bio's earnings?
DateTotal CompensationSalaryCompany Earnings
Mar 31 2026n/an/a

-US$157m

Dec 31 2025US$4mUS$650k

-US$143m

Sep 30 2025n/an/a

-US$136m

Jun 30 2025n/an/a

-US$110m

Mar 31 2025n/an/a

-US$90m

Dec 31 2024US$9mUS$408k

-US$76m

Compensation vs Market: E.'s total compensation ($USD4.30M) is above average for companies of similar size in the US market ($USD2.46M).

Compensation vs Earnings: E.'s compensation has been consistent with company performance over the past year.

CEO

E. Sutherland (56 yo)

2.3yrs
Tenure
US$4,302,100
Compensation

Dr. E. Rand Sutherland, MD, MPH, has been a Director of Krystal Biotech, Inc. from January 2022. Dr. Sutherland serves as Chief Executive Officer and Director at Upstream Bio, Inc. since April 2024. Dr. Su...

Leadership Team

NamePositionTenureCompensationOwnership
E. Sutherland
CEO & Director2.3yrsUS$4.30m0.13%
$ 531.8k
Michael Gray
CFO & COO2.3yrsUS$1.99m0%
$ 0
Aaron Deykin
Chief Medical Officer and Head of Research & Development4.3yrsUS$1.83m0.0029%
$ 11.9k
Stacy Price
Chief Technology Officer1.1yrsno datano data
Meggan Buckwell
Director of Corporate Communications & Investor Relationsno datano datano data
Allison Ambrose
Senior VP1.6yrsUS$1.53m0%
$ 0
Lisa Fiering
Senior Vice President of People & Culture2.3yrsno datano data
Adam Houghton
Chief Business Officer4.8yrsno data0.043%
$ 177.3k
Mersedeh Miraliakbari
Senior Vice President of Regulatory Affairs & Quality3.8yrsno datano data
Fang Xie
VP & Head of Biometrics3.5yrsno datano data
Sumathi Sivapalasingam
VP & Head of Clinical Development2.1yrsno datano data
2.3yrs
Average Tenure
55.5yo
Average Age

Experienced Management: UPB's management team is considered experienced (2.3 years average tenure).

Board Members

NamePositionTenureCompensationOwnership
E. Sutherland
CEO & Director2.3yrsUS$4.30m0.13%
$ 531.8k
Erez Chimovits
Independent Director4.8yrsUS$196.81kno data
Ronald Renaud
Independent Chairman of the Board4.7yrsUS$231.01k0%
$ 0
Liam Ratcliffe
Independent Director4.8yrsUS$202.51k0%
$ 0
Daniella Beckman
Independent Director1.8yrsUS$204.01k0%
$ 0
Harold Fleming
Independent Director3.1yrsUS$201.51k0%
$ 0
Marcella Ruddy
Independent Director3.4yrsUS$199.01k0%
$ 0
3.4yrs
Average Tenure
62yo
Average Age

Experienced Board: UPB's board of directors are considered experienced (3.4 years average tenure).

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/05 09:58
End of Day Share Price 2026/07/02 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Upstream Bio, Inc. is covered by 8 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Cory KasimovEvercore ISI
Matthew CaufieldH.C. Wainwright & Co.
Tessa RomeroJ.P. Morgan