Earlier this week, BioAge Labs priced an upsized underwritten public offering of 5,897,435 shares at $19.50 per share, generating approximately $115.0 million in gross proceeds. The offering size was increased by more than 20% compared with the initial plan, and underwriters have been granted a 30-day option to purchase up to an additional 884,615 shares. The deal is expected to close on January 23, 2026, subject to customary closing conditions, with Goldman Sachs, Piper Sandler and Citigroup serving as joint book–running managers.

BioAge intends to deploy net proceeds, together with its existing cash, cash equivalents and marketable securities, to advance its lead candidate BGE-102 (an oral NLRP3 inhibitor), support its APJ agonist obesity programs, and fund general corporate purposes, including process development, manufacturing scale-up and working capital. With this infusion, the company projects a cash runway extending into late 2027, thereby de-risking upcoming proof-of-concept trials, including a mid-2026 start of a Phase 1b/2a study in diabetic macular edema and a 2H26 cardiovascular risk readout.

The upsized financing underscores investor confidence in BioAge’s aging-targeted pipeline. BGE-102 has demonstrated robust reductions in inflammatory biomarkers (hsCRP, IL-6, IL-1β) in Phase 1 single- and multiple-ascending dose cohorts, while APJ agonist programs are advancing through preclinical proof-of-mechanism studies. Securing sufficient capital ahead of key data inflection points positions BioAge to capture value from multiple indications—cardiovascular risk, obesity and retinal disease—using a common discovery platform built on human longevity data.