Clinical Trials and Drug Development - BioAge initiated the Phase 2 STRIDES trial for azelaprag in combination with tirzepatide for obesity treatment, with top-line results expected in Q3 2025[3] - Research and development expenses increased by $13.5 million to $20.0 million in Q3 2024, primarily due to the Phase 2 STRIDES trial and azelaprag manufacturing costs[5] - Azelaprag, BioAge's lead product candidate, is an oral small-molecule APJ agonist with potential to enhance weight loss and improve body composition in obesity therapy[9] - BioAge is developing NLRP3 inhibitors for neuroinflammatory diseases and has preclinical programs targeting metabolic aging pathways[10] Financial Performance and Funding - The company completed a $238.3 million IPO and private placement, with net proceeds of approximately $189.5 million, extending cash runway into 2029[1][4] - Net loss for Q3 2024 was $23.4 million, or $6.70 per share, compared to a net loss of $14.6 million, or $8.74 per share, in Q3 2023[7] - As of September 30, 2024, BioAge had $334.5 million in cash and cash equivalents, sufficient to fund operations into 2029[8] - Total IPO proceeds, including underwriters' additional share purchases, yielded approximately $217.1 million in net proceeds[4][8] Corporate Governance and Leadership - The company appointed Jean-Pierre Garnier, former CEO of GSK, as Chair of the Board of Directors[4] Operational Expenses - General and administrative expenses rose by $1.3 million to $4.7 million in Q3 2024, driven by increased stock-based compensation[6]
Bioage Labs, Inc.(BIOA) - 2024 Q3 - Quarterly Results