Shares of Upstream Bio Inc. (UPB) surged nearly 20% in pre-market trading on Wednesday after the company announced positive top-line results from its Phase 2 VALIANT trial evaluating Verekitug in adults with severe asthma.

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Verekitug, which targets the thymic stromal lymphopoietin (TSLP) receptor, reduced annual asthma attacks by 56% with 100 mg and 39% with 400 mg compared to placebo. Patients also showed improved lung function.

Verekitug was generally well tolerated in the 478-patient study, supporting its safety profile. More than 90% of eligible participants have enrolled in the VALOUR long-term extension trial to further assess the treatment’s durability.

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