Upstream Bio to Join Russell 2000® Index Following IPO Addition

News 24 Dec 2024

Waltham, Mass., Dec. 16, 2024 – Upstream Bio, Inc. (Nasdaq: Life. UPB), a clinical-stage biotechnology company specializing in treating inflammatory diseases, stated it will join the Russell 2000® Index. The new one became effective from the operation of US equity markets starting December 23, 2024, when the company went for its IPO.

Russell 2000® Index is a well-known index tracking small-cap US equities, accounting for about one-tenth of the Russell 3000® Index market capitalization. This inclusion is a pointer to the fact that the company is gradually expanding its market reach, and investors believe in it. The Russell indexes are essential equity reference benchmarks for managers of investment funds and institutional investors: Approximately $10.5 trillion of assets is tied to these benchmarks as of December 2023.

Upstream Bio uses a novel concept called Verekitug, a monoclonal antibody designed for the receptor of TSLP. It induces inflammation in numerous immune-mediated diseases for this cytokine. Verekitug is still in the Phase 2 trials of the drug for severe asthma and chronic rhinosinusitis with nasal polyps, with proprieties for Chronic Obstructive Pulmonary Disease (COPD) in the pipeline.

“Membership in the Russell 2000® Index is a major achievement demonstrating Upstream Bio’s ability to fulfill large unmet needs,” a company spokesperson noted. “It brings more awareness and increases the chances of attracting appropriate clientele.”

As a result, the company has set its strategy to revolutionize the treatment of severe respiratory and inflammatory diseases and offer lifesaving solutions for patients with few choices left.

Forward-Looking Statements

Some information regarding the future growth, the development of clinical trials, and restating Upstream Bio’s business and financial performance contain forward-looking statements. These statements are made except for risks and uncertainties, including regulatory issues and competition. Unfortunately for investors, plenty of other information regarding the abovementioned matters can be obtained from the company’s SEC filings.

Upstream Bio has now become a part of the Russell 2000® Index. It thus confirms that the company is a significant actor in the biotechnology industry as it is ready for further development.

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