Upstream Bio Announces Pricing of Upsized Initial Public Offering

WALTHAM, Mass., Oct. 10, 2024 (GLOBE NEWSWIRE) -- Upstream Bio, Inc. (Nasdaq: UPB), a clinical-stage biotechnology company developing treatments for inflammatory diseases, with an initial focus on severe respiratory disorders, today announced the pricing of its upsized initial public offering of 15,000,000 shares of its common stock at a public offering price of $17.00 per share. All of the shares of common stock are being offered by Upstream. Upstream's shares are expected to begin trading on the Nasdaq Global Market on October 11, 2024 under the ticker symbol "UPB.” The offering is expected to close on October 15, 2024, subject to the satisfaction of customary closing conditions. In addition, Upstream has granted the underwriters a 30-day option to purchase an additional 2,250,000 shares of its common stock at the public offering price, less underwriting discounts and commissions.

J.P. Morgan, TD Cowen, Piper Sandler and William Blair are acting as joint book-running managers for the offering.