Upstream Bio names new chief technology officer

WALTHAM, Mass. - Upstream Bio, Inc. (NASDAQ:UPB), a biotechnology firm with a market capitalization of approximately $487 million focused on developing treatments for inflammatory diseases, announced today the appointment of Stacy Price as Chief Technology Officer. According to InvestingPro data, the company maintains a strong liquidity position with more cash than debt on its balance sheet. Price, who has over 25 years of experience in the biotech industry, will oversee the expansion of technical operations and product development, particularly for the company’s drug candidate verekitug.

Price’s career spans various senior roles, including her most recent position as Chief Technology and Manufacturing Officer at Invivyd. She has also served as Chief Technical Officer at Akouos and held leadership positions at Ziopharm Oncology, Shire, and Transkaryotic Therapies. Her educational background includes an M.S. in Biochemical Engineering and a B.S. in Chemical Engineering from Tufts University.

Rand Sutherland, MD, CEO of Upstream Bio, highlighted the significance of Price’s appointment as the company prepares to initiate a third clinical program for verekitug. Price’s expertise is expected to be crucial in advancing the company’s programs and investing in future growth.

Verekitug is a monoclonal antibody targeting the receptor for thymic stromal lymphopoietin, a cytokine implicated in inflammatory responses. It is currently in Phase 2 trials for severe asthma and chronic rhinosinusitis with nasal polyps, and development is being initiated for chronic obstructive pulmonary disease. With an impressive current ratio of 47.4x, the company appears well-positioned to fund its clinical programs, though InvestingPro analysis indicates rapid cash utilization.

Price expressed her enthusiasm for joining Upstream Bio and contributing to the development of verekitug, aiming to improve treatment options for patients with severe respiratory diseases.

This announcement is based on a press release statement from Upstream Bio and contains forward-looking statements regarding the development and potential of verekitug, as well as the expected contributions of the new CTO to the company’s operations. These statements are subject to various risks and uncertainties that could affect the company’s actual results and the progress of verekitug’s development. While the stock has experienced a significant decline of nearly 50% over the past six months, analysts maintain a Strong Buy consensus on the company. Discover 8 additional key insights about Upstream Bio with InvestingPro.

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