Upstream Bio's stock price plummeted after the mixed results of the Phase 2 asthma clinical trial

LootboxPhobia · 2026-02-11T14:54:09+00:00

Upstream Bio's stock price dropped 23% due to mixed results from the Verekitug drug's Phase 2 trial. Although both dosage regimens achieved primary endpoints, only the 100mg every 12 weeks dosing schedule showed comparable efficacy to existing treatments. The company plans to advance to Phase 3 trials despite facing stock price challenges.

LootboxPhobia

2026-02-11 14:54:09

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Investing.com – Upstream Bio (NASDAQ:UPB) stock fell 23% after the company announced mixed results from its Valiant Phase 2 clinical trial of verekitug for the treatment of severe asthma.

The clinical-stage company stated that although both dosing regimens met the primary endpoint, showing a statistically significant reduction in annual asthma exacerbation rate (AAER), only the more frequent dosing schedule demonstrated results comparable to existing treatments. The 100 mg every 12 weeks (q12w) dose reduced AAER by 56%, while the 400 mg every 24 weeks (q24w) dose showed a 39% reduction.

TD Cowen analyst Dr. Yaron Werber commented, “The Phase 2 asthma data are mixed. Verekitug at 100 mg every 12 weeks reduced AAER by 56%, and at 400 mg every 24 weeks by 39%; both are statistically significant, but only the 12-week dosing appears comparable to Tezspire.”

The trial also showed improvements in lung function. At week 60, compared to placebo, the 100 mg every 12 weeks regimen improved forced expiratory volume in 1 second (FEV1) by 122 mL, and the 400 mg every 24 weeks regimen improved FEV1 by 139 mL. The company reported that verekitug was well tolerated across all doses.

Despite the stock decline, Upstream Bio plans to advance verekitug into Phase 3 trials for the treatment of severe asthma and chronic rhinosinusitis with nasal polyps (CRSwNP) after regulatory interactions. The company is also progressing its VENTURE Phase 2 trial for COPD patients, which has enrolled over 60% of its target participants.

More than 90% of eligible patients in the Valiant trial have enrolled in the VALOUR long-term extension study, indicating confidence in the treatment’s efficacy and safety.

The endpoints designed for the Valiant trial may support future regulatory approval applications, depending on discussions with authorities.

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