Upstream Bio (UPB) Balance Sheet: Assets & Liabilities

Upstream Bio (UPB) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), Upstream Bio reported total assets of $353.77M and total liabilities of $14.00M. Shareholders' equity was $339.77M, down 27.7% from $469.85M a year earlier. Total debt stood at $1.27M against $341.51M in cash and short-term investments, a net cash position of $340.24M. That puts debt-to-equity at 0.00, compared with 0.00 a year earlier.

Upstream Bio Balance Sheet Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for Upstream Bio, Inc. (UPB) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022
Current Assets
Cash and Cash Equivalents	101.58	325.89	25.83	17.05
Short-Term Investments	239.93	144.56	83.98	0.00
Cash & Short-Term Investments	341.51	470.45	109.81	17.05
Accounts Receivable	0.67	0.61	0.24	0.41
Inventory	0.00	0.00	0.00	0.00
Other Current Assets	9.62	8.10	6.95	0.84
Total Current Assets	351.80	479.16	117.00	18.31
Non-Current Assets
Property, Plant & Equipment (Net)	1.78	2.37	0.20	0.16
Other Non-Current Assets	0.19	0.19	0.00	0.01
Total Non-Current Assets	1.98	2.56	0.20	0.17
Total Assets	353.77	481.72	117.20	18.48
Current Liabilities
Accounts Payable	2.73	4.04	1.99	0.71
Short-Term Debt	0.72	0.70	0.05	0.09
Accrued Liabilities	5.81	5.99	2.31	3.16
Other Current Liabilities	10.01	5.99	4.48	4.06
Total Current Liabilities	13.45	10.74	6.52	4.86
Non-Current Liabilities
Long-Term Debt	0.55	1.13	0.00	0.01
Other Non-Current Liabilities	0.00	0.00	233.81	119.77
Total Non-Current Liabilities	0.55	1.13	233.81	119.78
Total Liabilities	14.00	11.87	240.32	124.63
Stockholders' Equity
Common Stock	0.05	0.05	0.00	0.00
Retained Earnings	-334.22	-190.78	-127.97	-107.44
Accumulated Other Comprehensive Income	0.53	-0.03	0.02	0.00
Additional Paid-in Capital	673.41	660.60	4.82	1.28
Shares Outstanding	54.24	53.60	51.34	51.34
Total Stockholders' Equity	339.77	469.85	-123.13	-106.16
Total Liabilities & Equity	353.77	481.72	117.20	18.48

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Upstream Bio Balance Sheet

How much debt does Upstream Bio have?

Upstream Bio had total debt of $1.27M as of Dec 31, 2025, against $341.51M in cash and short-term investments. Its debt-to-equity ratio was 0.00. Total debt was $1.83M a year earlier.

What are Upstream Bio's total assets?

Upstream Bio reported total assets of $353.77M as of Dec 31, 2025, down 26.6% from $481.72M a year earlier. Total liabilities were $14.00M.

What is Upstream Bio's shareholders' equity?

Upstream Bio's shareholders' equity was $339.77M as of Dec 31, 2025, or about $6.26 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition