BioAge Labs (BIOA) Registration Filing summary

Company overview and business model

• Develops therapeutic candidates for metabolic diseases, focusing on obesity by targeting aging biology.

• Utilizes a technology platform and human datasets to identify molecular targets related to aging.

• Lead program BGE-102 is an oral NLRP3 inhibitor for obesity, with Phase 1 trials underway and proof-of-concept trial planned for 2026.

• Pipeline includes APJ agonists for obesity, with IND filings for oral and parenteral programs targeted by year-end 2026.

Financial performance and metrics

• As of June 30, 2025, 35,850,037 shares of common stock outstanding; no preferred stock outstanding.

• Net tangible book value as of June 30, 2025, was $8.22 per share; post-offering, as adjusted, $8.00 per share.

• Immediate accretion of $0.53 per share to new investors at an assumed offering price of $7.47 per share.

Use of proceeds and capital allocation

• Net proceeds intended for general corporate purposes, including R&D, clinical development, manufacturing, working capital, debt reduction, commercialization infrastructure, acquisitions, and capital expenditures.

• Pending use, proceeds may be invested in investment-grade, interest-bearing securities.

• Proceeds from the $75M at-the-market offering will not be sufficient to fund BGE-102 or future candidates through regulatory approval; additional capital will be needed.