BioAge Labs has filed a registration statement on Form S-3 to underwrite a public offering of up to $75.0 million of its common stock, with Goldman Sachs, Piper Sandler and Citigroup serving as joint book-running managers. The company has granted the underwriters a 30-day option to purchase up to an additional $11.25 million of shares. All shares will be sold by BioAge, with proceeds intended to fund ongoing research, clinical and process development, and manufacturing of its lead programs, including BGE-102 (its orally available NLRP3 inhibitor) and its NLRP3 and APJ agonist pipelines, as well as to bolster working capital, capital expenditures and debt reduction. BioAge’s balance sheet as of November 2025 included cash, cash equivalents and marketable securities sufficient to advance multiple programs through key Phase 1 and Phase 2 readouts, and management expects net proceeds from this offering to extend its cash runway into late 2027, supporting the planned initiation of at least three proof-of-concept trials.

Building on favorable safety and biomarker data from its ongoing Phase 1 SAD/MAD trial in obese participants, where BGE-102 achieved up to 80% reductions in hsCRP and 75% declines in IL-6 at the highest dose, BioAge plans to initiate a Phase 1b/2a proof-of-concept study in diabetic macular edema (DME) in mid-2026. The randomized, three-arm trial will evaluate BGE-102 monotherapy and combination with a VEGF inhibitor versus standard of care, with the primary endpoint of percent change in intraocular IL-6 at 28 days. Exploratory endpoints include best-corrected visual acuity, central subfield thickness and systemic biomarker changes. Preclinical models demonstrated that oral BGE-102 preserved up to 90% of retinal microvascular integrity and reduced lipofuscin accumulation by 80% in aging models. Data readouts are anticipated in mid-2027, running parallel to a Phase 2a cardiovascular risk study slated for second half 2026.