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BioAge Labs, Inc.
BIOACIK 0001709941NasdaqEmerging GrowthPharmaceutical PreparationsDelawareFY ends Dec 31
Period
FY 2025
Revenue
$8.99M
Net Income
$-80.61M
Total Assets
$294.89M
Equity
$272.05M
Shares Out
44.38M
Op. Cash Flow
$-81.63M
Business
BioAge Labs, Inc. is a biopharmaceutical company developing therapeutic product candidates for metabolic diseases by targeting the biology of human aging. It develops orally available small-molecule therapeutics, notably BGE-102 (a brain-penetrant NLRP3 inhibitor) and apelin receptor (APJ) agonists, alongside platform-derived discovery programs. Key business activities include target discovery and multi‑omics platform research, preclinical and clinical development, intellectual property management and third‑party manufacturing oversight, and collaboration partnerships. The company advances clinical programs primarily through U.S. regulatory pathways while leveraging global biobank datasets, external CDMOs and pharmaceutical partners for development and distribution.
Summary from filing dated 2025-03-20
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|---|
| Collaboration revenue | 9 | 0 | — | |
| Research and development | 74 | 59 | 34 | |
| General and administrative | 28 | 19 | 15 | |
| Total operating expenses | 102 | 78 | 48 | |
| Loss from operations | −93 | −78 | −48 | |
| Interest expense | −697,000 | −2 | −8 | |
| Interest and other income (expense), net | 13 | 10 | 2 | |
| Gain (loss) from changes in fair value of warrants | −214,000 | 73,000 | — | |
| Loss on extinguishment of debt | 0 | −250,000 | — | |
| Total other income (expense), net | 12 | 7 | −15 | |
| Net loss | −81 | −71 | −64 | |
| Net loss per share attributable to common stockholders, Basic | −2.24 | −6.63 | −38.17 | |
| Net loss per share attributable to common stockholders, Diluted | −2.24 | −6.63 | −38.17 | |
| Weighted-average common shares outstanding, basic | 36 | 11 | 2 | |
| Weighted-average common shares outstanding, dilutive | 36 | 11 | 2 | |
| Unrealized holding gains on available-for-sale investments | 122,000 | 0 | — | |
| Foreign currency translation adjustment | −89,000 | 81,000 | −3,000 | |
| Total other comprehensive income | 33,000 | 81,000 | — | |
| Total comprehensive loss | −81 | −71 | −64 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|
| Cash and cash equivalents | 189 | 354 | 22 | — | |
| Marketable securities, current | 92 | 0 | — | — | |
| Accounts receivable | 769,000 | 0 | — | — | |
| Prepaid expenses and other current assets | 5 | 3 | 349,000 | — | |
| Total current assets | 287 | 357 | 25 | — | |
| Investments | 100,000 | 100,000 | 100,000 | — | |
| Marketable securities | 4 | 0 | — | — | |
| Property and equipment, net | 963,000 | 591,000 | 323,000 | — | |
| Operating lease right-of-use assets | 3 | 200,000 | 195,000 | — | |
| Other assets | 216,000 | 240,000 | — | — | |
| Total assets | 295 | 358 | 26 | — | |
| Accounts payable | 3 | 2 | 2 | — | |
| Accrued expenses and other current liabilities | 8 | 12 | 8 | — | |
| Current portion of term loan | 3 | 6 | 6 | — | |
| Operating lease liabilities, current | 582,000 | 202,000 | 194,000 | — | |
| Deferred revenue, current | 6 | 8 | — | — | |
| Total current liabilities | 20 | 28 | 58 | — | |
| Deferred revenue | 0 | 5 | — | — | |
| Term loan | 0 | 3 | 8 | — | |
| Warrant liability | 370,000 | 156,000 | 229,000 | — | |
| Operating lease liabilities | 2 | 0 | — | — | |
| Total liabilities | 23 | 35 | 67 | — | |
| Commitments and Contingencies (Note 8) | — | — | — | — | |
| Preferred stock, $0.00001 par value; 10,000,000 shares authorized as of December 31, 2025 and December 31,2024; no shares issued and outstanding as of December 31, 2025 and December 31, 2024 | 0 | 0 | — | — | |
| Common stock, $0.00001 par value; 500,000,000 shares authorized as of December 31, 2025 and December 31, 2024; 37,386,908 and 35,850,037 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | 0 | 0 | 0 | — | |
| Additional paid-in-capital | 605 | 576 | 8 | — | |
| Accumulated other comprehensive income | 278,000 | 245,000 | 164,000 | — | |
| Accumulated deficit | −333 | −253 | −182 | — | |
| Total stockholders' equity | 272 | 323 | −173 | −113 | |
| Total liabilities and stockholders' equity | 295 | 358 | 26 | — |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|---|
| Net loss | −81 | −71 | −64 | |
| Stock-based compensation expense | 12 | 7 | 3 | |
| Depreciation expense | 213,000 | 167,000 | 162,000 | |
| Non-cash interest expense | 163,000 | 1 | 7 | |
| Non-cash lease expense | 125,000 | 3,000 | — | |
| (Gain) loss from changes in fair value of warrants | 214,000 | −73,000 | — | |
| Loss on disposal of property and equipment | 23,000 | 55,000 | — | |
| Accretion of net investment discounts | −2 | — | — | |
| Accounts receivable | −769,000 | 0 | — | |
| Prepaid expenses and other current assets | −2 | −2 | 37,000 | |
| Other Assets | 24,000 | −240,000 | — | |
| Accounts payable | 788,000 | 6,000 | −393,000 | |
| Accrued expenses and other current liabilities | −3 | 5 | 4 | |
| Deferred grant income | 0 | −3 | 3 | |
| Deferred revenue | −7 | 13 | — | |
| Net cash used in operating activities | −82 | −52 | −37 | |
| Purchase of property and equipment | −719,000 | −366,000 | −166,000 | |
| Purchases of marketable securities | −155 | 0 | — | |
| Maturities of marketable securities | 60 | 0 | — | |
| Net cash used in investing activities | −95 | −366,000 | −266,000 | |
| Proceeds from Series D issuance | 0 | 170 | — | |
| Issuance costs paid on Series D issuance | 0 | −542,000 | — | |
| Proceeds from initial public offering, net of underwriting discounts and commissions | 0 | 212 | — | |
| Issuance costs paid on initial public offering and private placement | 0 | −5 | — | |
| Proceeds from issuance of common shares through private placement, net of placement agent fees | 0 | 10 | — | |
| Proceeds from issuance of common stock through at-the-market facility, net of commissions | 17 | 0 | — | |
| Issuance costs paid on at-the market offering | −64,000 | 0 | — | |
| Deferred offering costs paid | −336,000 | 0 | — | |
| Term loan principal payments | −6 | −6 | −1 | |
| Proceeds from issuance of common shares upon stock option exercises | 714,000 | 634,000 | 4,000 | |
| Net cash provided by financing activities | 11 | 381 | 35 | |
| Effect of changes in exchange rate on cash and cash equivalents | −87,000 | 81,000 | — | |
| Net increase (decrease) in cash and cash equivalents | −165 | 329 | −3 | |
| Unpaid purchases of property and equipment | 13,000 | 124,000 | — | |
| Conversion of convertible promissory notes into Series D-1 redeemable convertible preferred stock | 0 | 41 | — | |
| Conversion of redeemable convertible preferred stock into common stock upon initial public offering | 0 | 343 | — | |
| Cash paid for interest | 611,000 | 1 | 1 | |
| Unpaid equity issuance costs included in accounts payable and accrued expenses | 123,000 | 0 | — | |
| Right-of-use assets obtained in exchange for lease obligation | 3 | 282,000 | 407,000 |
Filings
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