10-K · March 24, 2026
BioAge positions itself as a platform-driven, clinical-stage biotech focused on aging biology with a lead program BGE-102 (oral, brain-penetrant NLRP3 inhibitor) and APJ programs for obesity. The 10‑K highlights strong…
Earnings analysis · 10-Q
BIOA earnings analysis
Filed May 8, 2026 · Our reading of the company's report
The latest report
BioAge Labs reported strong financial performance in Q1 2026, with significant revenue growth driven by its collaboration with Novartis. The company continues to face challenges, including heavy operating losses and…
Read full summary
BioAge Labs reported strong financial performance in Q1 2026, with significant revenue growth driven by its collaboration with Novartis. The company continues to face challenges, including heavy operating losses and compliance with regulatory requirements as it advances clinical trials for BGE-102. Management remains optimistic about future clinical developments and maintains a strong liquidity position with ample cash reserves.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.72
What stood out
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Significant Revenue Increase
Reported revenue reached $2.772 million in Q1 2026, up 91.1% from $1.451 million in Q1 2025.
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Improvement in EPS
Net loss per share improved to -$0.72 in Q1 2026 from -$0.73 in the prior quarter.
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Strong Cash Position
As of March 31, 2026, the company reported $384.9 million in cash, cash equivalents, and marketable securities.
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R&D Investment Growth
Research and development expenses increased to $20.410 million in Q1 2026, reflecting ongoing clinical development.
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Continued Clinical Development
Management expects to initiate Phase 2 trials for BGE-102 in mid-2026, with results anticipated by year-end.
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Successful Completion of Phase 1 Trials
BGE-102 showed promising results in Phase 1 trials, leading to significant optimism for upcoming phases.
What to watch
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High Operating Losses Persist
Net losses widened to $22.253 million in Q1 2026 from $12.928 million a year earlier.
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Dependence on Collaboration Success
Future revenues heavily rely on successful outcomes from the ongoing collaboration with Novartis.
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Potential Regulatory Challenges
Future developments face risks related to government regulations and FDA approval processes that could delay product launch.
Management's outlook
Management anticipates continued revenue growth from collaboration efforts.
Earlier filings 2
10-Q · August 6, 2025
BioAge reported $2.412M of collaboration revenue in Q2 2025 and a GAAP net loss of $21.563M (EPS -$0.60). R&D and G&A spending rose materially (R&D $19.844M, G&A $7.339M), increasing operating loss to $24.771M vs…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.