Bioage Labs, Inc.(BIOA) - 2025 Q2 - Quarterly Results

Business Highlights and Updates BioAge achieved significant Q2 2025 milestones, advancing its clinical pipeline, expanding APJ agonist programs, and enhancing discovery capabilities NLRP3 Inhibitor Program (BGE-102) BioAge completed IND-enabling studies for BGE-102, an oral NLRP3 inhibitor for obesity, with Phase 1 trials starting H2 2025 - BGE-102, an oral NLRP3 inhibitor for obesity, completed IND-enabling studies and demonstrated significant preclinical weight loss, both as a monotherapy and in combination with semaglutide[3] - A Phase 1 SAD/MAD clinical trial is planned for the second half of 2025, with initial single ascending dose (SAD) data expected by year-end[2][3] APJ Agonist Pipeline Expansion BioAge expanded its APJ agonist pipeline through an exclusive option agreement and a new U.S provisional patent filing - Entered into an exclusive option agreement with JiKang Therapeutics for a novel APJ agonist nanobody that shows at least 10-fold greater potency than apelin, the natural ligand[7] - Filed a U.S provisional patent application for a new class of orally active, chemically distinct APJ agonists with picomolar potency and favorable drug-like properties[7] Discovery Platform Expansion BioAge partnered with HUNT Biobank to profile 17,000+ samples, securing exclusive access to molecular data for drug discovery - Launched an initiative with the HUNT Biobank to profile more than 17,000 samples from over 6,000 participants, generating millions of molecular measurements[4] - BioAge has exclusive access to the data generated from this partnership for drug discovery purposes[4] Strategic Partnerships BioAge advanced strategic collaborations with Novartis and Lilly ExploR&D for aging and metabolic disease targets - Continued the multi-year research collaboration with Novartis, announced in December 2024, to discover novel therapeutic targets at the intersection of aging biology and exercise physiology[8] - Progressed the strategic collaboration with Lilly ExploR&D, announced in January 2025, for the development of therapeutic antibodies targeting novel metabolic aging targets[8] Second Quarter 2025 Financial Results BioAge reported a net loss of $21.6 million in Q2 2025 due to increased expenses, with $313.4 million cash, sufficient through 2029 Key Financial Performance Q2 2025 saw R&D expenses rise to $19.8 million and G&A to $7.3 million, resulting in a net loss of $21.6 million Q2 2025 vs Q2 2024 Financial Highlights | Metric | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | Research and Development | $19.8M | $10.5M | | General and Administrative | $7.3M | $4.8M | | Total Operating Expenses | $27.2M | $15.3M | | Net Loss | ($21.6M) | ($13.6M) | | Net Loss Per Share | ($0.60) | ($7.94) | - The $9.3 million increase in R&D expenses was primarily driven by an $8.0 million increase in costs for APJ agonist programs and a $3.0 million increase for the BGE-102 program, partially offset by a $1.7 million reduction in azelaprag costs[6] - The $2.5 million increase in G&A expenses was mainly due to a $1.5 million rise in personnel-related costs from stock-based compensation and a $0.9 million increase in legal fees[9] Financial Position As of June 30, 2025, BioAge maintained a strong financial position with $313.4 million in cash, sufficient to fund operations through 2029 - The company held approximately $313.4 million in cash, cash equivalents, and marketable securities as of June 30, 2025[11] - Management estimates that the current cash position is sufficient to fund operations and capital expenses through 2029[11] Balance Sheet Summary | Metric | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Total Current Assets | $301.7M | $357.1M | | Total Assets | $322.1M | $358.2M | | Total Liabilities | $27.4M | $35.1M | | Total Stockholders' Equity | $294.8M | $323.1M | Corporate Information BioAge is a clinical-stage biopharmaceutical company focused on metabolic disease therapies, with standard forward-looking statements About BioAge Labs, Inc. BioAge is a clinical-stage biopharmaceutical company developing metabolic disease therapies by targeting human aging biology - BioAge is a clinical-stage biopharmaceutical company that targets the biology of human aging to develop therapies for metabolic diseases[12] - The lead product candidate is BGE-102, an oral NLRP3 inhibitor for obesity, with a Phase 1 trial planned for H2 2025. The company is also developing both injectable and oral APJ agonists for obesity[12] Forward-Looking Statements This section contains standard safe harbor statements, cautioning that projections are subject to significant risks and uncertainties - The press release contains forward-looking statements regarding plans to develop and commercialize product candidates, the timing and results of clinical trials, and the sufficiency of cash reserves[13] - These statements are subject to risks and uncertainties, including the ability to obtain regulatory approval, potential for adverse safety events, and dependence on collaborators, as detailed in the company's SEC filings[13][14]