UpStream Bio Inc. (Ticker: UPB) is a clinical-stage biotechnology company developing treatments for inflammatory diseases, with a focus on severe respiratory disorders such as asthma, chronic rhinosinusitis with nasal polyps (CRSwNP), and chronic obstructive pulmonary disease (COPD). The company’s lead product candidate, verekitug, is a monoclonal antibody targeting the TSLP receptor, which plays a role in inflammatory responses. UpStream Bio plans to advance this drug through Phase 2 trials for asthma and CRSwNP, with additional development planned for COPD.

UpStream Bio will list on October 10, 2024, on NASDAQ. The firm is offering 12.5 million shares at a price range of $15.00 to $17.00. The expected market capitalization at the offer is $781.47 million. The total offer size is estimated at $200 million. The offering is being managed by JPMorgan, TD Cowen, Piper Sandler, and William Blair.