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	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Cash & Equivalents	72.16	325.89	25.83	17.05
Short-Term Investments	300.26	144.56	83.98	-
Cash & Short-Term Investments	372.43	470.45	109.81	17.05
Cash Growth	68.78%	328.42%	544.01%	-
Accounts Receivable	0.68	0.61	0.1	0.41
Other Receivables	1.62	0.57	0.14	-
Receivables	2.31	1.18	0.24	0.41
Prepaid Expenses	0.01	0.85	0.02	0.09
Other Current Assets	14.27	6.68	6.93	0.75
Total Current Assets	389.02	479.16	117	18.31
Property, Plant & Equipment	1.98	2.37	0.2	0.16
Other Long-Term Assets	0.19	0.19	-	0.01
Total Assets	391.2	481.72	117.2	18.48
Accounts Payable	3.95	4.04	1.99	0.71
Accrued Expenses	7.19	5.99	4.48	4.06
Current Portion of Leases	0.72	0.7	0.05	0.09
Total Current Liabilities	11.91	10.74	6.52	4.86
Long-Term Leases	0.7	1.13	-	0.01
Other Long-Term Liabilities	-	-	2.87	6.95
Total Liabilities	12.61	11.87	9.39	11.81
Common Stock	0.06	0.05	0	0
Additional Paid-In Capital	669.8	660.6	4.82	1.28
Retained Earnings	-291.76	-190.78	-127.97	-107.44
Comprehensive Income & Other	0.49	-0.03	0.02	-
Total Common Equity	378.58	469.85	-123.13	-106.16
Shareholders' Equity	378.58	469.85	107.81	6.67
Total Liabilities & Equity	391.2	481.72	117.2	18.48
Total Debt	1.42	1.83	0.05	0.09
Net Cash (Debt)	371.01	468.62	109.77	16.96
Net Cash Growth	69.63%	326.93%	547.31%	-
Net Cash Per Share	7.17	34.25	37.16	6.06
Filing Date Shares Outstanding	54.04	53.64	2.85	2.8
Total Common Shares Outstanding	54	53.6	2.85	2.8
Working Capital	377.11	468.42	110.48	13.45
Book Value Per Share	7.01	8.77	-43.16	-37.91
Tangible Book Value	378.58	469.85	-123.13	-106.16
Tangible Book Value Per Share	7.01	8.77	-43.16	-37.91
Machinery	0.76	0.67	0.2	0.02
Construction In Progress	0.06	-	-	0.04
Leasehold Improvements	0.09	0.07	0.03	0.02

Updated Nov 5, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q