Upstream Bio reports Q3 2026 results, reaffirms Phase 3 plans for verekitug

Upstream Bio, Inc. reported financial results and business updates for the quarter ended September 30, 2026 on November 10, 2026. The company said its team is focused on timely startup activities for verekitug's Phase 3 trials in severe asthma and CRSwNP, with preparations for the planned first-quarter 2027 start underway and key clinical, regulatory, and manufacturing milestones already reached, according to CEO Rand Sutherland.¹

Two Phase 2 studies remain active. The Phase 2 VENTURE trial in COPD (NCT06981078) is ongoing with about 480 participants enrolled, testing verekitug in adults with moderate-to-severe COPD using extended dosing intervals of 12 and 24 weeks, with annualized exacerbation rate as the primary endpoint.¹ Enrollment was completed in August 2026, and the company expects data in the second half of 2027.¹

The Phase 2 VALOUR long-term extension study in severe asthma (NCT06966479) is also ongoing, with more than 90% retention of eligible participants carried over from the Phase 2 VALIANT study, and is designed to assess long-term efficacy and safety of verekitug.¹ Data from VALOUR are also expected in the second half of 2027.¹

On finances, Upstream Bio held $207.4 million in cash, cash equivalents and short-term investments as of September 30, 2026, which the company said is expected to fund planned operations through 2027.¹ Net loss for the quarter was $41.2 million, compared with $33.7 million for the same period in 2025.¹

The company describes verekitug as having been dosed in more than 500 participants across its clinical programs, with positive Phase 2 results reported in both CRSwNP and severe asthma supporting its advancement to Phase 3.¹