NEW YORK, N.Y., October 15, 2024 — CFGI advised Upstream Bio on its upsized $293 million initial public offering (IPO) of 17,250,000 shares priced at $17 per share, which includes the full exercise of the underwriters’ option to purchase 2,250,000 additional shares.
Upstream Bio’s common stock began trading on the Nasdaq Global Select Market on October 11, 2024, under the ticker symbol UPB.
The CFGI team that assisted the clinical stage biotechnology company was led by Capital Markets team members April Coleman and Alice Li — with contributions from other service lines.
For further information on the offering, please read Upstream Bio’s press release.
About Upstream Bio
Upstream Bio is a clinical-stage biotechnology company developing treatments for inflammatory diseases, with an initial focus on severe respiratory disorders. The Company is developing verekitug, the only known antagonist currently in development that targets the receptor for thymic stromal lymphopoietin, a cytokine which is a clinically validated driver of inflammatory response positioned upstream of multiple signaling cascades that affect a variety of immune mediated diseases. The Company has advanced this highly potent monoclonal antibody into separate Phase 2 trials for the treatment of severe asthma and chronic rhinosinusitis with nasal polyps, and plans to initiate development in chronic obstructive pulmonary disease. Upstream Bio’s team is committed to maximizing verekitug’s unique attributes to address the substantial unmet needs for patients underserved by today’s standard of care.
