BIOA Stock — BioAge Labs Inc.: Cash, EV, Pipeline

What they do

We are a clinical-stage biopharmaceutical company developing therapeutic product candidates for metabolic diseases by targeting the biology of human aging. Our technology platform and differentiated human datasets enable us to identify promising targets based on insights into molecular changes that drive aging.

Source: 10-K FY2025 via SEC EDGAR

Share price

$5.34

Market cap

$245.1M

Cash

$352.3M

Enterprise value

-$107.2M

Balance sheet

Cash	$352.3M
Debt	$0.0M
Net cash	$352.3M
Enterprise value	-$107.2M
Basic shares	46.0M shares
Fully diluted shares	56.1M shares
Fully diluted market cap	$299.8M
Cash per share	$7.67
Quarterly burn	$19.3M
Cash runway	19.8 quarters

Cash figures as of 2026-09-30. Database snapshot: 2026-11-07.

Share structure

Common

45.9M

Pre-funded warrants

—

Options

9.2M

RSUs

—

Warrants

0.0M

Converts

0.0M

Conv preferred

0.0M

ESPP reserve

1.1M

FDSO

56.1M

Cap table as of 2026-06-30.

Price history

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Next catalyst

BGE-102 · Est. Nov 7, 2026 · half midpoint · guided Now

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
GUIDEDEst. Nov 7, 2026 Now half midpoint	BGE-102 Phase 2 QUELL-CV in obesity with elevated systemic inflammation and cardiovascular risk factors	Phase 2	obesity with elevated systemic inflammation and cardiovascular risk factors	2H 2026
Jan 11 - Feb 22 in 9 wks	Oral BGE-102	Phase 2	Obesity and Cardiovascular Risk	—
GUIDEDEst. Jul 16, 2027 in 7 mo guidance midpoint	BGE-102 Phase 1b/2a QUELL-DME data in diabetic macular edema	Phase 1b	diabetic macular edema	mid-2027
Dec 13, 2027 - Jan 24, 2028 in 13 mo	Oral BGE-102	Phase 2	Diabetic Macular Edema (DME)	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

BGE-102

Phase 2 · Active Modality: oral small molecule

Target NLRP3

Indications

cardiometabolic disease with baseline inflammation (QUELL-CV) (Phase 2)
diabetic macular edema (DME) (Phase 1)

Catalysts

— H2 2026
— mid-2026
— mid-2027

Status note Lead product candidate. NLRP3 inhibition; Phase 1 SAD/MAD (April 2026) showed reductions in hsCRP and inflammatory biomarkers. QUELL-CV (160 adults with obesity and hsCRP >3 mg/L, 30/60/90 mg QD vs placebo, 12 weeks) dosed first participant June 2026. DME is first ophthalmology proof-of-concept indication. Company evaluating additional NLRP3 indications.

APJ agonist programs

Preclinical · Active Modality: antibody; small molecule

Target APJ

Partnerships JiKang Therapeutics (option agreement, June 2025, for a novel APJ agonist antibody)

Indications

obesity (Preclinical)

Catalysts

— year-end 2026

Status note APJ agonism programs include a novel APJ agonist antibody (JiKang option) and novel small-molecule APJ agonists (US provisional patent filed). Preclinical obesity models cited by company; first IND intended by year-end 2026.

platform-derived discovery programs

Discovery · Active

Partnerships Eli Lilly and Company (advancing earlier-stage platform-derived programs); Novartis Pharma AG (target discovery collaboration, Dec 2024: up to $20M upfront/research funding, up to $530M milestones, reciprocal milestones and tiered royalties)

Indications

undisclosed (Discovery)

Status note Earlier-stage platform-derived programs in collaboration with Lilly; separate target-discovery collaboration with Novartis investigating mechanisms of aging and exercise biology. No named candidates disclosed.

Per-asset detail extracted from the 10-Q filed 2026-08-05. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	Oral BGE-102
Lead indication	Obesity and Cardiovascular Risk
Lead phase	Phase 2
Active trials	2

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT07656727	Phase 2	Active, not recruiting	Sponsor	BIOA	—	Obesity and Cardiovascular Risk	2H 2026 Est. Dec 31, 2026 · PCD + 6 wks (Dec 28-Dec 31)
NCT07812090	Phase 2	Recruiting	Sponsor	BIOA	—	Diabetic Macular Edema (DME)	mid-2027 Est. Jul 16, 2027 · guidance midpoint

Sponsor-matched active trials from ClinicalTrials.gov (2 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 2 active trials for BioAge Labs, Inc. on ClinicalTrials.gov

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
Cormorant Asset Management	2,390,605	-500,000	3.00%	2026-08-14
RA Capital Management	1,671,648	+21,000	0.36%	2026-08-14
Braidwell LP	1,033,129	-167,458	0.94%	2026-08-14
OrbiMed Advisors	752,153	+40,342	0.35%	2026-08-14
Sphera Biotech	213,671	+127,153	0.75%	2026-08-14
Ikarian Capital	200,000	+200,000	0.80%	2026-08-14
Stonepine Capital	20,000	-30,000	0.37%	2026-08-17
ADAR1 Capital Management	0	-135,560	0.00%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

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BIOA — BioAge Labs Inc. ☆

What they do

Balance sheet

Share structure

Price history

Next catalyst

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Specialist fund holders

Latest news

BIOA — BioAge Labs Inc.