BioAge Labs, Inc. is the newest among the many healthcare firms pursuing stock-market itemizing this yr. In a registration assertion filed with the Securities and Change Fee, the corporate revealed plans to supply round 7.5 million frequent shares in an preliminary public providing. The estimated provide worth is between $17.0 per share and $19.0 per share.
The corporate has utilized to listing on the Nasdaq International Market underneath the image BIOA. Goldman Sachs, Morgan Stanley, Jefferies, and Citigroup are the bookrunners within the providing. The estimated web proceeds from this providing and the concurrent personal placement are anticipated to be round $134.5 million, primarily based on the midpoint of the value vary.
The BioAge management plans to make use of the proceeds primarily to advance the event of azelaprag, the lead product candidate being developed for the therapy of weight problems. Part of the proceeds will likely be used for working capital and different common company functions.
The Firm
BioAge is a clinical-stage biopharmaceutical firm engaged within the improvement of therapeutic product candidates for metabolic illnesses like weight problems, by focusing on the biology of human ageing. In preclinical exams, azelaprag demonstrated the power to greater than double the load loss induced by a glucagon-like peptide-1 receptor agonist. It additionally restored wholesome physique composition and improved muscle operate.
At present, the corporate is creating a pipeline of platform-derived therapeutics for the therapy of continual metabolic illness. Azelaprag is an orally out there small-molecule agonist of the apelin receptor the place the activation has the potential to recapitulate lots of the advantages of train. The drug is being developed together with GLP-1R agonists to enhance total weight reduction, with the potential to additionally enhance tolerability and physique composition.
Key Numbers
For the yr ended December 2023, BioAge reported a complete lack of $63.9 million, in comparison with a lack of $39.5 million within the earlier yr. Full-year analysis and improvement bills elevated 11% year-over-year to $33.9 million. Within the six months ended June 30, 2024, loss narrowed modestly to $26.6 million from $28.2 million within the corresponding interval of 2023. At $19.8 million, analysis and improvement bills have been up 15% year-over-year throughout the six months.
