Upstream Bio Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Cash & Equivalents	45.46	325.89	25.83	17.05
Short-Term Investments	348.12	144.56	83.98	-
Cash & Short-Term Investments	393.58	470.45	109.81	17.05
Cash Growth	66.91%	328.42%	544.01%	-
Accounts Receivable	0.94	0.61	0.1	0.41
Other Receivables	1.71	0.57	0.14	-
Receivables	2.64	1.18	0.24	0.41
Prepaid Expenses	0.29	0.85	0.02	0.09
Other Current Assets	21.76	6.68	6.93	0.75
Total Current Assets	418.27	479.16	117	18.31
Property, Plant & Equipment	2.06	2.37	0.2	0.16
Other Long-Term Assets	0.19	0.19	-	0.01
Total Assets	420.52	481.72	117.2	18.48
Accounts Payable	2.55	4.04	1.99	0.71
Accrued Expenses	7.67	5.99	4.48	4.06
Current Portion of Leases	0.71	0.7	0.05	0.09
Total Current Liabilities	10.93	10.74	6.52	4.86
Long-Term Leases	0.85	1.13	-	0.01
Other Long-Term Liabilities	-	-	2.87	6.95
Total Liabilities	11.78	11.87	9.39	11.81
Common Stock	0.05	0.05	0	0
Additional Paid-In Capital	666.45	660.6	4.82	1.28
Retained Earnings	-258.02	-190.78	-127.97	-107.44
Comprehensive Income & Other	0.26	-0.03	0.02	-
Total Common Equity	408.74	469.85	-123.13	-106.16
Shareholders' Equity	408.74	469.85	107.81	6.67
Total Liabilities & Equity	420.52	481.72	117.2	18.48
Total Debt	1.56	1.83	0.05	0.09
Net Cash (Debt)	392.02	468.62	109.77	16.96
Net Cash Growth	66.25%	326.93%	547.31%	-
Net Cash Per Share	10.04	34.25	37.16	6.06
Filing Date Shares Outstanding	53.91	53.64	2.85	2.8
Total Common Shares Outstanding	53.8	53.6	2.85	2.8
Working Capital	407.34	468.42	110.48	13.45
Book Value Per Share	7.60	8.77	-43.16	-37.91
Tangible Book Value	408.74	469.85	-123.13	-106.16
Tangible Book Value Per Share	7.60	8.77	-43.16	-37.91
Machinery	0.67	0.67	0.2	0.02
Construction In Progress	0.05	-	-	0.04
Leasehold Improvements	0.07	0.07	0.03	0.02

Updated Aug 6, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q