Filing Flows › Upstream Bio (UPB) › R&D spending
Upstream Bio (UPB) R&D spending by quarter
Upstream Bio's R&D spending was $36.1M in Q2 2026 (second quarter 2026), -1% from Q1 2026. Over the last 7 quarters it ranged from $21.8M (Q4 2024) to $40.2M (Q4 2025).
| Quarter | R&D spending | Q/Q | Y/Y |
|---|---|---|---|
| Q2 2026 | $36.1M | -1% | -5% |
| Q1 2026 | $36.6M | -9% | +42% |
| Q4 2025 | $40.2M | +22% | +84% |
| Q3 2025 | $33.0M | -13% | — |
| Q2 2025 | $37.9M | +47% | — |
| Q1 2025 | $25.8M | +18% | — |
| Q4 2024 | $21.8M | — | — |
Q2 2026 at a glance
Upstream Bio, Q2 2026: revenue $773K (-18% year over year), net loss $39.7M, operating cash flow −$35.6M. The chart follows the revenue to costs, profit and cash.
Questions
What is Upstream Bio's R&D spending?
Upstream Bio's R&D spending was $36.1M in Q2 2026 (second quarter 2026), -1% from Q1 2026.
How has Upstream Bio's R&D spending changed?
Over the last 7 quarters it ranged from $21.8M (Q4 2024) to $40.2M (Q4 2025).