BioAge Labs Reports $2.4 Million Collaboration Revenue and $21.6 Million Net Loss in Q2 2025

BioAge Labs, Inc. reported its financial results for the second quarter of 2025, revealing a collaboration revenue of $2.4 million, a significant increase from zero in the same period last year. For the six months ending June 30, 2025, total collaboration revenue reached $3.9 million, attributed to the company's agreement with Novartis Pharma AG, which commenced in 2025. Despite this revenue, the company continued to experience substantial operating losses, reporting a net loss of $21.6 million for the quarter and $34.5 million for the first half of the year, compared to losses of $13.6 million and $26.6 million, respectively, in the prior year.

Operating expenses surged to $27.2 million for the second quarter, up 78% from $15.3 million in the same quarter of 2024. This increase was primarily driven by a 90% rise in research and development expenses, which totaled $19.8 million, reflecting heightened investment in the development of its lead product candidate, BGE-102, and other programs. General and administrative expenses also rose by 53% to $7.3 million, largely due to increased personnel-related costs and legal fees.

As of June 30, 2025, BioAge Labs had cash, cash equivalents, and marketable securities totaling $313.4 million, a decrease from $354.3 million at the end of 2024. The company’s accumulated deficit grew to $287.3 million, up from $252.8 million at the end of the previous fiscal year. The decrease in cash reserves was attributed to significant cash outflows from operating activities, which amounted to $37.3 million for the first half of 2025, compared to $31.5 million in the same period of 2024.

In terms of strategic developments, BioAge Labs is advancing its clinical pipeline, with plans to initiate a Phase 1 clinical trial for BGE-102 in the second half of 2025. The company is also exploring additional product candidates, including novel apelin receptor agonists for obesity. The collaboration with Novartis is expected to yield further research funding and milestone payments, enhancing the company’s financial position as it continues to develop its product candidates.

Looking ahead, BioAge Labs anticipates ongoing operating losses as it invests in research and development. The company expects its existing cash reserves to fund operations through at least 2029, although it acknowledges the potential need for additional capital to support its growth strategy. The management remains focused on advancing its clinical programs and exploring strategic partnerships to enhance its market position in the biopharmaceutical sector.