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BioAge Labs Inc. (BIOA+1.90%) has filed its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details BioAge Labs Inc.'s focus on developing therapeutic product candidates for metabolic diseases by targeting the biology of human aging. The company's lead program is BGE-102, a small molecule NLRP3 inhibitor for obesity.
BioAge Labs Inc. terminated the development of azelaprag in January 2025 due to observations of liver transaminitis in patients. The company is now advancing structurally distinct apelin receptor APJ agonists for obesity treatment.
For the year ended December 31, 2024, BioAge Labs Inc. reported a net loss of $71.1 million, an increase from the $63.9 million net loss reported for the previous year. The increase in net loss is attributed to higher research and development expenses.
Research and development expenses increased by 74% to $59.0 million in 2024, primarily due to the clinical development of azelaprag and increased personnel-related expenses.
General and administrative expenses rose by 32% to $19.2 million in 2024, driven by higher stock-based compensation expenses and costs associated with operating as a public company.
BioAge Labs Inc. had $354.3 million in cash and cash equivalents as of December 31, 2024. The company estimates that its existing cash resources will be sufficient to fund operations through 2029.
The company entered into a collaboration agreement with Novartis Pharma AG in December 2024 to identify and validate novel therapeutic drug targets. The agreement includes potential payments up to $530 million in milestones.
BioAge Labs Inc. is pursuing additional platform targets in collaboration with Eli Lilly and Company and plans to expand its pipeline through internal efforts and partnerships.
The company acknowledges various risks, including the need for substantial additional capital to finance operations, potential delays in clinical trials, and competition from other biopharmaceutical companies.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the BioAge Labs Inc. annual 10-K report dated March 20, 2025. To report an error, please email earnings@qz.com.