What is Upstream Bio, Inc.'s R&D?

Upstream Bio, Inc. (UPB) reported R&D of $36.57M in Q1 2026.

How has Upstream Bio, Inc.'s R&D changed year-over-year?

Upstream Bio, Inc.'s R&D increased by 41.7% year-over-year, from $25.8M to $36.57M.

Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

Upstream Bio, Inc. UPB R&D

R&D at other companies

AmgenAMGN

$1.72B+15.7%

Regeneron PharmaceuticalsREGN

$1.54B+16.3%

Aclaris TherapeuticsACRS

$15.66M+35.2%

Shattuck Labs, Inc.STTK

$10.95M+10.4%

SavaraSVRA

$23.4M+22.1%

AnaptysBio, Inc.ANAB

$33.99M-17.5%

Other financials

Income statement

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Revenue$1.0M+82.7%

Operating income-$43.6M-36.2%

Net income-$40.6M-48.8%

EPS (diluted)-$0.75-47.1%

Balance sheet

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Cash & equivalents$96.7M+35.6%

Total debt$1.1M-34.5%

Total equity$304.0M-31.8%

Total assets$318.1M-30.3%

Cash flow

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Operating cash flow-$47.9M-16.2%

CapEx$54.0K-70.8%

Free cash flow-$30.7M-55.0%

Valuation

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Market cap$346.11M-40.9%

Enterprise value$250.5M-51.4%

P/S104.2×-151×

Profitability

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Operating margin-5,176.5%+1,764pp

Net margin-4,719%+2,752pp

Returns & leverage

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Return on equity-41.8%—

Debt / equity0×0.0×

Current ratio23.1×-24.3×

Where this comes from

Reported directly by Upstream Bio, Inc. in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpense.

The official record: Upstream Bio, Inc.’s 10-Q, filed May 13, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Upstream Bio, Inc.'s R&D?: Upstream Bio, Inc. (UPB) reported R&D of $36.57M in Q1 2026.
How has Upstream Bio, Inc.'s R&D changed year-over-year?: Upstream Bio, Inc.'s R&D increased by 41.7% year-over-year, from $25.8M to $36.57M.
What does R&D mean?: Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.