BioAge Labs Inc.
BIOAHealthcare|Biotechnology|US
$5.34
-0.20 (-3.61%)
DCF Value
$8.93
Tangible Book / Share
$7.55
Cash / Share
$6.18
Financials
Financial Snapshot
Market Cap
$201.0M
Enterprise Value
$151.1M
Revenue (TTM)
$8.6M
Net Income (TTM)
-$107.8M
Cash & Investments
$283.6M
Net Cash
$280.9M
Free Cash Flow (TTM)
-$103.0M
Operating CF (TTM)
-$102.5M
Debt/Equity
0.01
Cash Runway & Burn Rate
Cash on Hand
$283.6M
Quarterly Burn
$25.6M
Monthly Burn
$8.5M
Est. Runway
~11.1 quarters
| Metric | Trend | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|
| Cash & Investments | $27.6M | $21.6M | $354.3M | $281.1M | $283.6M | |
| Operating Cash Flow | -$36.2M | -$37.4M | -$51.5M | -$81.6M | -$102.5M | |
| Free Cash Flow | -$36.3M | -$37.5M | -$51.9M | -$82.3M | -$103.0M | |
| Capital Expenditure | -$103.0K | -$166.0K | -$366.0K | -$719.0K | -$484.0K | |
| Financing Cash Flow | $2.5M | $34.9M | $381.2M | $11.5M | $157.8M |
R&D Spending
R&D (TTM)
$99.5M
R&D Intensity
1157.2%
R&D Growth vs Prior
+34.5%
| Metric | Trend | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $9.0M | $8.6M | |
| R&D Expense | $30.5M | $33.9M | $59.0M | $74.0M | $99.5M | |
| R&D % of Revenue | — | — | — | 822.3% | 1157.2% | |
| SG&A | $9.4M | $14.5M | $19.2M | $27.8M | $29.6M |
Income Statement
| Metric | Trend | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $9.0M | $8.6M | |
| Cost of Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $63.0K | |
| Gross Profit | $0.00 | $0.00 | $0.00 | $9.0M | $8.2M | |
| R&D | $30.5M | $33.9M | $59.0M | $74.0M | $99.5M | |
| SG&A | $9.4M | $14.5M | $19.2M | $27.8M | $29.6M | |
| Operating Income | -$40.0M | -$48.4M | -$78.2M | -$92.8M | -$120.5M | |
| Interest Expense | $241.0K | $7.8M | $2.4M | $697.0K | $3.5M | |
| Pretax Income | -$39.7M | -$63.9M | -$71.1M | -$80.6M | -$107.8M | |
| Net Income | -$39.7M | -$63.9M | -$71.1M | -$80.6M | -$107.8M | |
| EPS (Diluted) | -1.16 | -1.87 | -1.98 | -2.24 | -2.55 | |
| EBITDA | -$39.4M | -$55.9M | -$68.6M | -$79.7M | -$111.4M | |
| Shares Out. (M) | 34.17 | 34.20 | 35.85 | 35.93 | 45.91 |
Balance Sheet
| Metric | Trend | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $27.6M | $21.6M | $354.3M | $188.9M | $52.7M | |
| Short-Term Investments | $0.00 | $0.00 | $0.00 | $92.2M | $231.0M | |
| Total Current Assets | $28.0M | $25.3M | $357.1M | $286.8M | $295.1M | |
| Total Assets | $28.4M | $25.9M | $358.2M | $294.9M | $367.6M | |
| Total Current Liabilities | $5.9M | $58.2M | $27.8M | $20.1M | $19.0M | |
| Long-Term Debt | $2.3M | $8.2M | $2.5M | $2.3M | $2.0M | |
| Total Liabilities | $141.0M | $199.3M | $35.1M | $22.8M | $21.2M | |
| Stockholders' Equity | -$112.6M | -$173.4M | $323.1M | $272.1M | $346.4M | |
| Retained Earnings | -$117.8M | -$181.7M | -$252.8M | -$333.4M | -$415.3M |
Cash Flow Statement
| Metric | Trend | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|
| Operating Cash Flow | -$36.2M | -$37.4M | -$51.5M | -$81.6M | -$102.5M | |
| Capital Expenditure | -$103.0K | -$166.0K | -$366.0K | -$719.0K | -$484.0K | |
| Free Cash Flow | -$36.3M | -$37.5M | -$51.9M | -$82.3M | -$103.0M | |
| Investing Cash Flow | -$103.0K | -$266.0K | -$366.0K | -$95.2M | -$218.2M | |
| Financing Cash Flow | $2.5M | $34.9M | $381.2M | $11.5M | $157.8M | |
| Issuance of Stock | $44.0K | $0.00 | $221.6M | $17.9M | $142.2M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $98.0K | |
| Net Debt Issuance | $2.5M | $35.0M | -$6.0M | -$6.0M | -$3.5M | |
| Stock Based Comp. | $2.5M | $3.0M | $7.0M | $11.7M | $15.9M | |
| Net Change in Cash | -$33.5M | -$2.7M | $329.4M | -$165.5M | -$162.9M |
Dilution Tracker
Shares Outstanding
38M
5-Year Share Growth
+5.2%
Stock Issuance (TTM)
$142.2M
| Metric | Trend | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|
| Shares Out. (M) | 34.17 | 34.20 | 35.85 | 35.93 | 45.91 | |
| Change vs Prior % | — | 0.1% | 4.8% | 0.2% | 27.8% | |
| Stock Issuance | $44.0K | $0.00 | $221.6M | $17.9M | $142.2M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $98.0K | |
| Stock Based Comp. | $2.5M | $3.0M | $7.0M | $11.7M | $15.9M |
Margins & Profitability
| Metric | Trend | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|
| Gross Margin % | — | — | — | 100.0% | 95.8% | |
| Operating Margin % | — | — | — | -1031.5% | -1401.8% | |
| Net Margin % | — | — | — | -896.1% | -1253.6% | |
| EBITDA Margin % | — | — | — | -886.0% | -1295.2% | |
| FCF Margin % | — | — | — | -915.5% | -1197.8% | |
| ROE % | 35.3% | 36.8% | -22.0% | -29.6% | -31.4% | |
| ROA % | -139.7% | -246.3% | -19.8% | -27.3% | -29.3% | |
| ROIC % | -175.4% | -377.9% | -23.2% | -33.4% | -34.5% | |
| R&D / Revenue % | — | — | — | 822.3% | 1157.2% |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | 0.0% | 0.0% | 0.0% | 0.0% | |
| Gross Profit | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Income | 0.0% | -21.1% | -61.6% | -18.7% | |
| Net Income | 0.0% | -60.8% | -11.4% | -13.4% | |
| EPS (Diluted) | 0.0% | -61.2% | -5.9% | -13.1% | |
| Operating Cash Flow | 0.0% | -3.3% | -37.9% | -58.4% | |
| Free Cash Flow | 0.0% | -3.4% | -38.3% | -58.7% | |
| R&D Expense | 0.0% | 11.0% | 74.2% | 25.3% | |
| SG&A Expense | 0.0% | 53.6% | 32.0% | 45.2% | |
| Total Assets | 0.0% | -8.8% | 1281.9% | -17.7% | |
| Book Value / Share | 0.0% | -53.9% | 277.8% | -16.0% | |
| Debt | 0.0% | 2057.7% | -83.7% | -36.1% | |
| Diluted Shares | 0.0% | 0.1% | 4.8% | 0.2% |
Valuation
P/E (TTM)At Loss
P/S23.38
P/B0.71
EV/EBITDAAt Loss
EV/Revenue17.57
P/FCFAt Loss
Intrinsic Value Models (per share)
DCF Value
$8.93
Tangible Book / Share
$7.55
Net Current Assets / Share
$7.27
Graham Net-Net
$5.73
Cash / Share
$6.18
| Metric | Trend | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|
| P/E Ratio | -15.78 | -9.79 | -2.92 | -5.91 | -2.09 | |
| P/S Ratio | 0.00 | 0.00 | 0.00 | 52.85 | 23.38 | |
| P/B Ratio | -5.56 | -3.61 | 0.64 | 1.75 | 0.71 | |
| EV/EBITDA | -15.26 | -11.77 | 2.01 | -3.66 | -1.36 | |
| EV/Revenue | 0.00 | 0.00 | 0.00 | 32.47 | 17.57 |
Analyst Estimates & Quality
Altman Z-Score
4.03
Safe
Piotroski F-Score
3
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $7.6M | $14.9M | $2.8M |
| Net Income | -$89.8M | -$84.0M | -$92.3M |
| EPS | $-2.46 | $-2.26 | $-2.51 |
| # Analysts (EPS) | 7 | 7 | 7 |