Connect Biopharma Holdings vs Upstream Bio
Upstream Bio is the larger business, with $2.9m of revenue in fiscal 2025 against $64,000 for Connect Biopharma Holdings (44.6 times as much). Upstream Bio grew faster (20.4% against -99.8%). Upstream Bio kept more of each dollar of sales as profit: a net margin of -5026.0% against -86687.5%. Connect Biopharma Holdings carries less debt relative to equity (0.0% against 0.0%).
| Latest fiscal year | Connect Biopharma HoldingsCNTB, 2025 | Upstream BioUPB, 2025 |
|---|---|---|
| Revenue | $64,000 | $2.9m |
| Revenue growth | -99.8% | 20.4% |
| Net income | −$55.5m | −$143m |
| Operating margin | -90740.6% | -5618.8% |
| Net margin | -86687.5% | -5026.0% |
| Return on equity | -82.7% | -35.4% |
| Free cash flow | −$51.6m | −$133m |
| Cash | $38.3m | $102m |
| Total debt | $0 | $0 |
| Debt to equity | 0.0% | 0.0% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | — |
| Employees | 64 | 75 |
| Market value | $48.8m | $182m |
| Price vs our value range | — | — |
| Moat score | — | — |
| Insider trades, 12 months | 2 buys, 0 sales | 0 buys, 15 sales |