BioAge Labs Shares 2025 Financials and Key Updates

BioAge Labs, Inc., referred to as BioAge or the Company, stands as a clinical-stage biopharmaceutical firm dedicated to developing therapeutic candidates for metabolic disorders by harnessing the underlying biology of human aging. The company has recently disclosed its financial outcomes for the entire year concluding on December 31, 2025, alongside significant business developments from the fourth quarter ending on the same date.

"Over the recent months, BioAge has experienced a pivotal phase marked by the release of encouraging interim Phase 1 results for BGE-102, which showcased remarkable reductions in key inflammatory markers linked to cardiovascular risks, such as hsCRP, IL-6, and fibrinogen," stated Kristen Fortney, PhD, who serves as CEO and co-founder of BioAge. "These findings reinforce the promise of BGE-102 to provide potent anti-inflammatory effects comparable to injectables, all delivered through a user-friendly oral formulation. We are now moving forward with a Phase 2a proof-of-concept study scheduled for the first half of this year. Additionally, we have broadened the application of BGE-102 into the field of ophthalmology, where its distinctive characteristics make it a candidate for a versatile 'pipeline in a pill' solution spanning cardiovascular, central nervous system, and ocular conditions. Simultaneously, we are pushing ahead with a subsequent NLRP3 inhibitor initiative to offer flexibility in tackling the wide array of inflammasome-related diseases. Thanks to our expanded $132.3 million follow-on offering, our financial position has been significantly bolstered, enabling us to sustain our growing clinical efforts."

Business Highlights

NLRP3 Inhibitor Clinical Development

During December 2025, BioAge revealed promising interim results from its ongoing Phase 1 trial involving single ascending doses (SAD) and multiple ascending doses (MAD) for BGE-102, an oral NLRP3 inhibitor capable of penetrating the brain. The treatment proved safe and well-tolerated at all tested doses, exhibiting dose-proportional pharmacokinetics that back once-daily administration. It achieved 90–98% inhibition of IL-1β in an ex vivo whole blood assay by Day 14, while cerebrospinal fluid levels surpassed the IC90 at doses starting from 60 mg—a standout feature compared to competing NLRP3 inhibitors. BioAge has extended the study to encompass MAD cohorts specifically for individuals with obesity and elevated hsCRP levels.
In January 2026, the company shared further positive interim Phase 1 data from the initial MAD cohort among participants with obesity and high hsCRP. By Day 14, the 120 mg once-daily dose of BGE-102 led to an 86% median decrease in hsCRP, with 93% of subjects dropping below the 2 mg/L threshold associated with lower cardiovascular risk.
Beyond that, BGE-102 delivered a 58% drop in IL-6 levels and a 30% reduction in fibrinogen.
Comprehensive Phase 1 results are projected for release in the first half of 2026.
BioAge intends to launch a Phase 2a proof-of-concept study targeting cardiovascular risk during the first half of 2026. This trial now includes dose-ranging elements, aiming to pave the way for a potential Phase 3 registration trial by the close of 2027. Data from Phase 2a is slated for the latter part of 2026.

BGE-102 Indication Expansion into Ophthalmology

BioAge has declared an extension of its BGE-102 program into ophthalmology, starting with a proof-of-concept investigation in patients suffering from diabetic macular edema (DME). Activation of the NLRP3 inflammasome plays a critical role in various retinal disorders. Preclinical studies with oral BGE-102 showed dose-dependent maintenance of retinal vascular structure, offering almost total prevention of vascular leakage.
Plans are in place to commence a Phase 1b/2a proof-of-concept trial for DME patients in the middle of 2026, with outcomes expected around mid-2027. This DME study will proceed alongside the Phase 2a trial for BGE-102 in cardiovascular risk.

APJ Agonist Program Advancement

BioAge has steadily progressed its strategy for developing both oral and injectable APJ agonists. Pursuant to the exclusive option agreement with JiKang Therapeutics, which was publicized in June 2025, BioAge and JiKang are collaboratively developing an innovative APJ agonist nanobody that exhibits at least 10-fold higher potency than apelin, advancing it toward Investigational New Drug (IND)-enabling studies.
Concurrently, BioAge is developing its own lineup of orally bioavailable APJ agonists, for which it submitted a U.S. provisional patent application back in May 2025.
The company aims to submit the first IND application for an APJ program by the end of 2026.

Upsized Follow-On Public Offering

In January 2026, BioAge successfully concluded an enlarged follow-on public offering, selling 5,897,435 shares of common stock at $19.50 per share, which brought in roughly $115.0 million in gross proceeds. Subsequently, in February 2026, the underwriters fully exercised their overallotment option, acquiring an extra 884,615 shares at the offering price, boosting total gross proceeds to about $132.3 million. The offering was spearheaded by Goldman Sachs, Piper Sandler, and Citigroup. BioAge anticipates that these funds, combined with its $285.1 million in cash, cash equivalents, and marketable securities as of December 31, 2025, will support operational needs through 2029 under the current plan.

Strategic Partnerships and Discovery Platform

The ongoing multi-year research partnership between BioAge and Novartis, centered on identifying new therapeutic targets where aging biology intersects with exercise physiology, has continued to make strides, with several targets now being assessed.
BioAge has advanced its strategic alliance with Lilly ExploR&D, concentrating on therapeutic antibodies directed at novel metabolic aging targets discovered via BioAge’s platform.
Through its partnership with Age Labs AS, BioAge has kept developing its project to thoroughly profile and examine samples from Norway’s HUNT Biobank, yielding molecular data from over 17,000 samples that chronicle the shift from health to disease across long-term lifespan observations.