BioAge Labs, Inc. reported its financial results for the third quarter of 2025, revealing a collaboration revenue of $2.1 million, a significant increase from zero in the same period last year. For the nine months ending September 30, 2025, total collaboration revenue reached $5.9 million, attributed to the company's agreement with Novartis Pharma AG. Despite this revenue, the company continues to operate at a loss, with a net loss of $20.2 million for the quarter, compared to a loss of $23.4 million in the prior year. For the nine-month period, the net loss was $54.7 million, up from $50.0 million in 2024.
Operating expenses for the third quarter totaled $25.2 million, slightly higher than the $24.8 million reported in the same quarter of 2024. Research and development expenses decreased by 8% to $18.5 million, primarily due to a reduction in costs associated with the terminated azelaprag program. However, expenses related to the BGE-102 program increased significantly as the company progresses through its Phase 1 clinical trial. General and administrative expenses rose by 41% to $6.7 million, driven by higher legal fees and personnel-related costs.
As of September 30, 2025, BioAge Labs had cash, cash equivalents, and marketable securities totaling $295.9 million, a decrease from $358.2 million at the end of 2024. The company’s accumulated deficit has grown to $307.5 million, reflecting ongoing investments in research and development. The company anticipates that its current financial resources will be sufficient to fund operations through 2029, although it acknowledges the potential need for additional capital to support its growth strategy.
In terms of strategic developments, BioAge Labs has made significant progress in its clinical programs, including the initiation of a Phase 1 trial for BGE-102, which is being developed as a treatment for obesity and cardiovascular risk factors. The company is also advancing its apelin receptor APJ agonist programs, with plans to file Investigational New Drug applications by the end of 2026. The company’s collaboration with Novartis is expected to yield further research funding and milestone payments, enhancing its financial outlook.
Looking ahead, BioAge Labs remains focused on advancing its clinical trials and expanding its product pipeline. The company is aware of the risks associated with biotechnology development, including regulatory approvals and market acceptance, and it plans to continue financing its operations through equity offerings and potential collaborations. The management emphasizes the importance of maintaining sufficient liquidity to support ongoing research and development activities while navigating the uncertainties of the biotechnology landscape.
About BioAge Labs, Inc.
BioAge Labs, Inc. is a biopharmaceutical company focused on developing therapies for metabolic diseases by targeting the biology of human aging. Its platform leverages longitudinal human datasets and multi-omic profiling to identify novel targets like NLRP3 and apelin. The company develops oral, brain-penetrant small molecules and collaborates with major pharma firms to create innovative treatments for obesity and age-related conditions.
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