BioAge Labs Reports Full Year 2024 Financial Results and Provides Business Updates from the Fourth Quarter of 2024

Core Insights - BioAge Labs is advancing its oral, brain-penetrant NLRP3 inhibitor BGE-102, with initial clinical data expected in the second half of 2025 [1][2] - The company has discontinued the development of its APJ agonist azelaprag due to unexpected liver transaminitis observed in clinical trials [2][4] - BioAge has established strategic collaborations with Novartis and Lilly to discover and develop novel therapies targeting metabolic aging [3][5] Financial Performance - Research and development expenses for the year ended December 31, 2024, were $59.0 million, up from$33.9 million in 2023, primarily due to increased costs associated with the azelaprag development [6] - General and administrative expenses rose to $19.2 million in 2024 from$14.5 million in 2023, mainly due to increased stock-based compensation [7] - The net loss for the year ended December 31, 2024, was $71.1 million, or$6.63 per share, compared to a net loss of $63.9 million, or$38.17 per share, in 2023 [8] Cash Position - As of December 31, 2024, BioAge had approximately $354.3 million in cash and cash equivalents, which is expected to fund operations through 2029 [9] Pipeline Developments - BioAge is progressing with its next-generation APJ agonists while continuing to develop BGE-102, which has shown potential for treating neuroinflammation linked to obesity [2][4] - The collaboration with Novartis includes up to$20 million in upfront payments and research funding, with potential future milestones totaling up to $530 million [3]