Quick Answer
Upstream Bio, Inc. reported R&D Expense of $136.81 million for fiscal year 2025.
Upstream Bio, Inc. R&D Expense — Annual History
| Fiscal Year | R&D Expense | YoY Change |
|---|---|---|
| 2025 | $136.81M | +117.3% |
| 2024 | $62.97M | +98.0% |
| 2023 | $31.80M | — |
Quarterly R&D Expense
| Quarter Ending | R&D Expense | YoY | QoQ |
|---|---|---|---|
| September 30, 2025 | $32.98M | +113.7% | -12.9% |
| June 30, 2025 | $37.87M | +169.1% | +46.8% |
| March 31, 2025 | $25.80M | +120.7% | +67.2% |
| September 30, 2024 | $15.43M | +98.2% | +9.7% |
| June 30, 2024 | $14.07M | — | +20.3% |
| March 31, 2024 | $11.69M | — | +50.1% |
| September 30, 2023 | $7.79M | — | — |
- Upstream Bio, Inc. showed an increase of +117.3% in R&D Expense compared to the prior fiscal year.
- Over the 2023–2025 period, Upstream Bio, Inc.’s r&d expense has grown by 330.2% (from $31.80 million to $136.81 million).
- The most recent figure is from Upstream Bio, Inc.’s fiscal year 2025 report (Form 10-K), filed with the SEC on March 26, 2026.
- All figures are sourced from SEC EDGAR XBRL filings, last verified June 17, 2026.
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