Start here if you're new
what it is
BioAge Labs develops drug candidates for obesity and aging-linked metabolic disease.
how it gets paid
Last year Bioage Labs made n/a in revenue. Collaboration revenue was the main engine at $2.0M, or 100% of sales.
what just happened
$6M in quarterly revenue was the headline, but the $1.52 loss per share kept the quarter ugly.
At a glance
n/a balance sheet
-$6.63 fy2024 eps est
~$782M market cap
small cap
NASDAQ
What they do
BioAge Labs develops drug candidates for obesity and aging-linked metabolic disease.
BioAge is betting on 1 lead candidate, BGE-102, plus 2 APJ agonist programs. BGE-102 is oral, meaning taken by mouth, and brain-penetrant, meaning it gets into the brain. That matters because pills are easier than shots, and you are paying for 3 shots on goal, not 30.
How they make money
n/a
annual revenue
Collaboration revenue
$2.0M
BGE-102 development
$0.0M
APJ agonist development
$0.0M
Other income
$0.0M
The products that matter
oral NLRP3 inhibitor
BGE-102
lead clinical asset · mid-2026 trial catalyst
this is the reason the company is worth $782M today. the planned proof-of-concept trial in mid-2026 is the next number that can move the stock in a way revenue cannot.
lead asset
partnership and collaboration income
Collaboration revenue
$2.1M in Q3 2025
it's the only current revenue stream we have on the page. $2.1M in quarterly collaboration revenue is real, but it is nowhere near enough to support a $782M valuation on its own.
current revenue
clinical pipeline optionality
Aging-biology platform
$5.92M trailing revenue base
the platform is the narrative, but the market still needs one asset to work first. until then, you are valuing optionality off a business that generated just $5.92M over the last 12 months.
optionality
Key numbers
$782M
market cap
You are paying $782M for a company with $2M in trailing revenue, which is a huge gap.
$2M
trailing revenue
This is the sales base from Yahoo Finance, and it is tiny versus the market value.
$115M
gross proceeds
BioAge raised about $115M in January 2026, so dilution is part of the story.
62
employees
A 62-person team means your investment depends on a very small organization.
Financial health
n/a
strength
- balance sheet grade n/a
- long-term debt $2M (0% of capital)
n/a — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for BIOA right now.
source: institutional data · return history unavailable
What just happened
missed estimates
$6M in quarterly revenue was the headline, but the $1.52 loss per share kept the quarter ugly.
EDGAR shows latest-quarter revenue of $6M, up 188% vs. prior year, and EPS of -$1.52. Yahoo Finance shows trailing EPS of -$2.24, so the company is still spending more than it brings in.
$6.0M
revenue
-$1.52
eps
+188%
revenue growth
revenue jump
The $6M quarter matters because it is 3x the $2M trailing revenue figure from Yahoo Finance.
source: company earnings report, 2026
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What could go wrong
the #1 risk is BGE-102 clinical failure or delay.
med
Clinical data misses the bar
There is no established commercial engine to fall back on. If BGE-102 disappoints in the planned mid-2026 proof-of-concept trial, the core reason investors tolerate a 132x sales multiple goes with it.
Impact: most of the $782M valuation is tied to pipeline credibility rather than today's $5.92M revenue base.
med
Cash burn leads to more dilution
The company carries just $2M of long-term debt, which sounds clean until you remember losses were $75.79M over the last 12 months. A proposed $75M offering shows where the funding burden can land.
Impact: future upside can get divided into more pieces before the science proves itself.
med
Valuation has almost no margin for waiting
A stock trading near the top of a $3–$24 52-week range with 132x trailing revenue is already priced for a good version of the story. Small-cap biotech investors know how quickly that mood can reverse.
Impact: even a delay, not just a failure, can compress the multiple when there is little operating business underneath it.
$5.92M of trailing revenue against a $782M market cap and -$75.79M in trailing net income means the valuation rests far more on future trial success than on current operations.
source: institutional data · regulatory filings · risk analysis
Pay attention to
catalyst
mid-2026 BGE-102 proof-of-concept trial start
This is the next major moment that can justify, or challenge, a $782M market cap on $5.92M of trailing revenue.
cash burn
whether losses keep running far ahead of revenue
Trailing net income sits at -$75.79M while trailing revenue is $5.92M. That ratio tells you financing updates matter as much as science updates.
dilution
what happens with the proposed $75M offering
Capital raises are normal in biotech. The question is how much dilution shareholders absorb before the lead program produces meaningful proof.
sentiment
whether analyst optimism survives the next few updates
The average target is $51.80 from six analysts, but the low target is $23. In a stock at $21.35, that spread tells you conviction is not uniform.
Analyst rankings
coverage
6
six analysts cover the stock. in human-speak, this is followed enough to generate targets, but not enough to smooth out biotech volatility.
average target
$51.80
that implies 143% upside from $21.35. analysts clearly see a successful-data path, even if the path itself is narrow.
target spread
$23–$73
same company, same starting facts, a very wide range. that's what happens when valuation depends on clinical probabilities more than current fundamentals.
source: institutional data
Institutional activity
institutional ownership data for BIOA is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$21
current price
n/a
target midpoint · n/a from current
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