Upstream Bio Balance Sheet

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Cash & Equivalents	101.58	325.89	25.83	17.05
Short-Term Investments	239.93	144.56	83.98	-
Cash & Short-Term Investments	341.51	470.45	109.81	17.05
Cash Growth	-27.41%	328.42%	544.01%	-
Accounts Receivable	0.67	0.61	0.1	0.41
Other Receivables	1.65	0.57	0.14	-
Receivables	2.32	1.18	0.24	0.41
Prepaid Expenses	0.88	0.85	0.02	0.09
Other Current Assets	7.09	6.68	6.93	0.75
Total Current Assets	351.8	479.16	117	18.31
Property, Plant & Equipment	1.78	2.37	0.2	0.16
Other Long-Term Assets	0.19	0.19	-	0.01
Total Assets	353.77	481.72	117.2	18.48
Accounts Payable	2.73	4.04	1.99	0.71
Accrued Expenses	10.01	5.99	4.48	4.06
Current Portion of Leases	0.72	0.7	0.05	0.09
Total Current Liabilities	13.45	10.74	6.52	4.86
Long-Term Leases	0.55	1.13	-	0.01
Other Long-Term Liabilities	-	-	2.87	6.95
Total Liabilities	14	11.87	9.39	11.81
Common Stock	0.05	0.05	0	0
Additional Paid-In Capital	673.41	660.6	4.82	1.28
Retained Earnings	-334.22	-190.78	-127.97	-107.44
Comprehensive Income & Other	0.53	-0.03	0.02	-
Total Common Equity	339.77	469.85	-123.13	-106.16
Shareholders' Equity	339.77	469.85	107.81	6.67
Total Liabilities & Equity	353.77	481.72	117.2	18.48
Total Debt	1.27	1.83	0.05	0.09
Net Cash (Debt)	340.24	468.62	109.77	16.96
Net Cash Growth	-27.40%	326.93%	547.31%	-
Net Cash Per Share	6.32	34.25	37.16	6.06
Filing Date Shares Outstanding	54.42	53.64	2.85	2.8
Total Common Shares Outstanding	54.24	53.6	2.85	2.8
Working Capital	338.35	468.42	110.48	13.45
Book Value Per Share	6.26	8.77	-43.16	-37.91
Tangible Book Value	339.77	469.85	-123.13	-106.16
Tangible Book Value Per Share	6.26	8.77	-43.16	-37.91
Machinery	0.82	0.67	0.2	0.02
Construction In Progress	-	-	-	0.04
Leasehold Improvements	0.09	0.07	0.03	0.02

Source: S&P Capital IQ. Standard template. Financial Sources.