Upstream Bio (UPB) Research & Development (2023 - 2026)

Upstream Bio's Research & Development history runs 4 years deep, the most recent figure standing at $36.6 million for Q1 2026.

• In Q1 2026, Research & Development rose 41.74% year-over-year to $36.6 million; the TTM figure through Mar 2026 stood at $147.6 million (up 91.48% YoY), while the FY2025 annual figure was $136.8 million, up 117.27% from the prior year.
• Research & Development was $36.6 million for Q1 2026 at Upstream Bio, down from $40.2 million in the prior quarter.
• In the past five years, Research & Development ranged from a high of $40.2 million in Q4 2025 to a low of $7.8 million in Q3 2023.
• Historically, Research & Development has averaged $23.2 million across 4 years, with a median of $21.8 million in 2024.
• The sharpest annual moves came in 2025 and 2026: Research & Development jumped 169.14% in 2025, then soared 41.74% in 2026.
• A 4-year view of Research & Development shows it stood at $11.6 million in 2023, then surged by 88.45% to $21.8 million in 2024, then soared by 84.49% to $40.2 million in 2025, then slipped by 8.97% to $36.6 million in 2026.
• The last three Research & Development figures came in at $36.6 million (Q1 2026), $40.2 million (Q4 2025), and $33.0 million (Q3 2025), per Business Quant data.