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BioAge Labs

BIOA on Nasdaq. BioAge Labs develops prescription drugs for metabolic diseases, for patients and their doctors. Market value $292m.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.

Should I look at this?

Not a fit for our list right now

Why it could be worth it

What to watch out for

See Health care stocks that passed both tests

This is not advice. Check the numbers below.

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Cash yield
past 12 months to June 2026
-30.5%low

For every $100 of what the whole company costs, it produced $-30.51 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to June 2026
n/a

The filings do not give us enough to work this out.

Return on capital
five annual reports to December 2025
n/a

The filings do not give us enough to work this out.

Quality score: not known. Price score: 0 of 100. Our list needs 70 on quality and 60 on price.

$6.29 a share, 25% above its 1-year low

Over the past year the price has ranged from $5.04 to $25.95.

Pays no dividend

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

-0.1
-0.1
-0.1
2024202512 monthsto Jun '26
Revenue
$0$9m
Operating margin
n/a-1031.5%
Debt to equity
0.030.01
Shares outstanding
0.04bn0.05bn

Health checks

  • Free cash flow positive0 of 2 years
  • Accounting checksSkipped: company is not yet profitable
  • Debt0.01× equity
  • Revenue growth, five yearsUnknown
  • Buying back its own sharesNo, 28% more shares since 2024

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $2 million last quarter, about the same as a year ago.
  • A loss of $26 million, compared with a loss of $22 million a year ago.
  • It loses 1026 cents on each $1 of sales, compared with 2364 cents a year earlier.
  • Over the past 12 months it spent $88 million more cash than it brought in, compared with $58 million a year earlier.
  • 25% more shares than a year ago. Each share owns a bit less of the company.
  • Sales grew on a year ago in each of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$0
December 2024$0
March 2025$1m
June 2025$2m
September 2025$2m
December 2025$3m
March 2026$3m
June 2026$2m
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024-$23m
December 2024-$21m
March 2025-$13m
June 2025-$22m
September 2025-$20m
December 2025-$26m
March 2026-$22m
June 2026-$26m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
24 March 2026
Next quarterly (estimated, 10-Q)
4 November 2026

Who owns it

None of the long-term investors we follow own it. 151 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

5 investors own more than 5%.

  • Kristen Fortney
    Passive investor
    7.2%
    Since 31 December 2025
  • at least 5.4%−1.1 pts
    (filed with 1 related holder)
    Since 30 June 2026
  • BlackRock, Inc.
    Passive investor
    5.0%
    Since 31 March 2026
  • VK Services, LLC
    Passive investor
    at least 4.0%
    (filed with 5 related holders)
    Since 15 May 2026
  • at least 3.7%
    (filed with 3 related holders)
    Since 31 December 2024
  • Sold down below 5%
    Since 31 December 2025

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

No insider bought shares on the open market in the last 12 months. 4 sold $8m, $8m of it under preset trading plans.

  • Barton Shane
    Principal Accounting Officer
    Sold
    under a preset trading plan
    Date
    30 June 2026
    Shares
    20,216
    Price
    $25.19
    Value
    $509,176
  • Barton Shane
    Principal Accounting Officer
    Sold
    under a preset trading plan
    Date
    29 June 2026
    Shares
    42,350
    Price
    $25.21
    Value
    $1m
  • RUBIN PAUL D
    Chief Medical Officer
    Sold
    under a preset trading plan
    Date
    1 April 2026
    Shares
    8,820
    Price
    $17.81
    Value
    $157,084
  • RUBIN PAUL D
    Chief Medical Officer
    Sold
    under a preset trading plan
    Date
    2 March 2026
    Shares
    7,433
    Price
    $20.30
    Value
    $150,890
  • RUBIN PAUL D
    Chief Medical Officer
    Sold
    under a preset trading plan
    Date
    2 February 2026
    Shares
    7,433
    Price
    $18.75
    Value
    $139,369
  • Fortney Kristen
    Chief Executive Officer, Director
    Sold
    under a preset trading plan
    Date
    13 January 2026
    Shares
    233,107
    Price
    $18.12
    Value
    $4m
  • GOLDSTEIN DOV A MD
    Chief Financial Officer
    Sold
    under a preset trading plan
    Date
    13 January 2026
    Shares
    27,000
    Price
    $19.70
    Value
    $531,844
  • RUBIN PAUL D
    Chief Medical Officer
    Sold
    under a preset trading plan
    Date
    2 January 2026
    Shares
    7,433
    Price
    $12.85
    Value
    $95,514
  • RUBIN PAUL D
    Chief Medical Officer
    Sold
    under a preset trading plan
    Date
    9 December 2025
    Shares
    18,000
    Price
    $12.00
    Value
    $216,000
  • RUBIN PAUL D
    Chief Medical Officer
    Sold
    under a preset trading plan
    Date
    4 December 2025
    Shares
    68,897
    Price
    $10.19
    Value
    $702,060

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the serious warning signs we check for were found. 1 thing worth knowing.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 24 Mar 2026, plus the 10-Q filed 5 Aug 2026 and 4 later 8-Ks.

  • One big customer

    Worth knowing

    One customer brings in a big share of sales: 100% last year. Losing that customer would hurt.

    “For the year ended December 31, 2025, the same customer accounted for 100% of the Company’s revenue.”

    From the 10-K filed 24 March 2026, Item 8. Financial Statements and Notes. Read it in the filing

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

Cheap for a reason is the question the numbers cannot answer.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.